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ITAT Jaipur quashes Section 263 Order Due to Violation of Natural Justice [Read Order]

Adwaid M S

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Jaipur has ruled in favor of the appellant, setting aside the Principal...

Failure by AO to Verify Key Issues During Reassessment: ITAT Upholds PCIT’s order [Read Order]

PCIT Cannot Substitute AO's View in 263 Proceedings Unless AO's Decision Wholly Unsustainable in...

Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment...

Revision Proceedings u/s 263 Not Maintainable After Assessment Order Declared Non Est: ITAT [Read...

ITAT directs AO to Focus only on Determining Commission on Accommodation Entry in Revision Proceedings, Not beyond [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled limiting the scope of revision proceedings under Section 263 of the Income Tax Act, directing the Assessing Officer ( AO ) to...

ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax ( PCIT ) for disallowing Rs. 4.18 crores as interest on unutilized government...

ITAT quashes Revision Order passed without showing Prejudice to Revenue or Error by AO [Read Order]

The Income Tax Appellate Tribunal (ITAT) Jaipur, in a ruling dated October 16, 2024, has quashed the revision order issued by the Principal Commissioner of Income Tax (PCIT) against the assessee...

AO erred in Adding ₹12.10 Lakh to Income instead of ₹27 Cr: ITAT upholds Revision Order [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) upheld the revision order under Section 263 of the Income Tax Act, which was initiated because the Assessing Officer ( AO ) had made an addition of ₹12.10...

Partnership Firm Converted into LLP: ITAT quashes Revision Proceedings Due to Non-Existence of Entity [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act, 1961 because the entity in question did not exist during the...

AO Wrongly allowed Posco India's set-off of Brought-Forward Loss of ₹1.4 cr: ITAT directs Disallowance, Citing Adjustments made in Previous Years [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed disallowance of set-off of the brought-forward loss of Rs.1,47,26,425 citing that adjustments had already been made in previous...

'Finds Addition Too Harsh': ITAT directs Re-examination of PCIT's Rs. 3.4 cr Addition due to Sales Discrepancy [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) found Rs. 3.4 crore addition related to a sale discrepancy excessive and remanded the case to the Principal Commissioner of Income Tax...

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