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Judicial Member Ravish...

Income Tax Addition for Turnover Mismatch Set Aside Due to Lack of Evidence: ITAT Deletes Disallowance under Section 40A(3) as Income was Estimated [Read Order]

Eeva Mary Sanil

In a recent ruling, the Raipur Bench of the Income Tax Appellate Tribunal (ITAT) partly allowed appeals for multiple assessment years by holding that...

Reassessment u/s 147 on Mere Change of Opinion Invalid: ITAT [Read Order]

CIT(A) Ignores Adjournment Request: ITAT Restores Appeal Citing Violation of Principles of Natural...

Taxpayer fails to Opt for Email Notice in Form-35: ITAT Restores Matter for Fresh Adjudication [Read...

CIT(A) deletes additions on Unsecured Loans after considering additional evidence: ITAT set asides...

ITAT quashes Disallowance on Tanker Expenses due to Lack of Justification by AO [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) quashed the disallowance of ₹2,19,981 on tanker expenses, citing a lack of justification by the Assessing Officer (AO). Rajnandgaon Petrol...

₹5.98 Lakh Addition due to Clerical Error in Depreciation: ITAT sets aside for Re-examination [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) set aside the addition of ₹5.98 lakh made due to a clerical error in depreciation for re-examination. Panchsheel Solvent Pvt....

Unexplained Investment Addition of ₹96.99 Lakh: ITAT Remands Matter to AO for Fresh Examination [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for fresh examination regarding the addition of ₹96.99 lakh as unexplained investment . ...

Reassessment without 'Reasons to Believe': ITAT Restores Matter to CIT(A) [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal(ITAT) restored the matter to the Commissioner of Income Tax(Appeals)[CIT(A)] after finding that the reassessment was initiated without providing the...

Discrepancy in Opening Balance of Furniture and Fittings: ITAT Remands Matter to AO for Verification [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for verification after noting a discrepancy in the opening balance of furniture and...

DVO Valuation Exceeding Stamp Duty Value: ITAT Upholds Addition Based on DVO’s Report [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal(ITAT) upheld an addition based on the District Valuation Officer’s (DVO) report, which exceeded the stamp duty value. Syed Hifajat...

ITAT sets aside addition of Rs.10 lakhs u/s 69A as Unexplained Cash Deposits During Demonetization [Read Order]

The Raipur bench of the Income Tax Appellate Tribunal (ITAT) sets aside the addition of Rs. 10 lakhs under Section 69A of the Income Tax Act, 1961, as unexplained cash deposits during demonetization...

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