![Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Tax-Addition-Positive-Evidence-taxscan.jpg "Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]")
Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted an income tax addition of ₹48,48,356, observing that the concerned...
![Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Deceased-Assessees-ITAT-Surat-ITAT-Remits-ITAT-Remits-for-de-novo-Assessment-unexplained-Bank-Deposit-numerous-notices-Assessment-Year-Income-Tax-Act-ITAT-Taxscan.jpg "Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]")
![ITAT quashes Disallowance of Interest on Credit already confirmed to be Genuine [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-unsecured-loan-ITAT-on-unsecured-loan-interest-taxscan.jpg "ITAT quashes Disallowance of Interest on Credit already confirmed to be Genuine [Read Order]")
AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the income obtained from agriculture and reduced additions made by the Assessing officer to 2 Lakhs in order to prevent revenue...
![AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Surat-Income-Tax-Act-Agriculture-Income-taxscan.jpg "AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]")
Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]
The Surat Bench of Income Tax Appellate Tribunal(ITAT) reduced the disallowance of Rs. 25.85 lakh worth of purchases, originally made due to lack of documentation, to 12.5%. Shamkant Gajmal...
![Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Purchases-Due-Purchases-Due-to-Lack-of-Documentation-Lack-of-Documentation-Reduces-Addition-ITAT-Surat-taxscan.jpg "Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]")
Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that exchange gain can be adjusted from total income by reducing it from the block of assets under section 43A of the Income Tax Act...
![Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Income-Tax-Section-43A-of-Income-Tax-Act-taxscan.jpg "Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]")
CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that CIT ( A ) could not be reopened under Section 150 of the Income Tax Act due to the expiry of the time limit of 6 years stated...
![CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CIT-Time-Limit-CITA-cannot-Direct-Reopening-taxscan.jpg "CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]")
ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of Rs. 35.83 lakh Long-Term Capital Gain to total income, rejecting Sauda Chitthi's claim for enhanced acquisition...
![ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Long-Term-Capital-Gain-LTCG-addition-ITAT-taxscan.jpg "ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]")
PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 14A of the Income Tax Act, 1961 was a Non-Obstante clause that can be applied prospectively from 01.04.2022 and quashed...
![PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-PCIT-Disallow-Expenditure-Disallow-Expenditure-Section-14A-Section-14A-PCIT-Revises-Non-Obstante-Clause-taxscan.jpg "PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]")
CIT(A) Fails to consider written submission and issued notice via email despite opted No in Form 35: ITAT Quashes Ex Parte order [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) quashed the Ex-parte order citing the Commissioner of Income Tax [appeal] [CIT(A)] failed to consider the written submission of the...
![CIT(A) Fails to consider written submission and issued notice via email despite opted No in Form 35: ITAT Quashes Ex Parte order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-CITA-issued-notice-via-email-despite-ITAT-Quashes-ITAT-Quashes-Ex-Parte-order-taxscan.jpg "CIT(A) Fails to consider written submission and issued notice via email despite opted No in Form 35: ITAT Quashes Ex Parte order [Read Order]")