![ITAT quashes Assessment over Lack of Independent Verification in S.153D Approval [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-Assessment-over-Lack-Verification-S.153D-Approval-taxscan.jpg "ITAT quashes Assessment over Lack of Independent Verification in S.153D Approval [Read Order]")
ITAT quashes Assessment over Lack of Independent Verification in S.153D Approval [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) quashed the assessment against the assessee, holding that the approval granted under Section...
![Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Mechanical-Approval-Reassessment-PCIT-ITAT-Income-Tax-Notice-us-148-TAXSCAN1.jpg "Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]")
![Unacknowledged Adjournment Requests: ITAT remands Matter to CIT(A) For Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Unacknowledged-Adjournment-ITAT-CITA-Fresh-Consideration-Adjournment-Requests-Unacknowledged-Adjournment-Requests-itat-to-CITA-tax-news-itat-news-CITA-news-taxscan.jpg "Unacknowledged Adjournment Requests: ITAT remands Matter to CIT(A) For Fresh Consideration [Read Order]")
![ITAT restores Trusts 80G (5) Registration Application back to CIT (E) despite 6-Year Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Application-CIT-E-ITAT-restores-Trusts-80G-5-Registration-Application-Delay-taxscan.jpg "ITAT restores Trusts 80G (5) Registration Application back to CIT (E) despite 6-Year Delay [Read Order]")
No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that no addition shall be made on account of share premium received in excess of Fair Market Value (FMV) under Section...
![No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/addition-Share-Premium-No-addition-on-account-of-Share-Premium-FMV-taxscan-1.jpg "No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]")
No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) while directing readjudication observed that no interest expenditure should be disallowed which has not been claimed during the deposit of...
![No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Disallowance-Interest-Expenditure-Deposit-Tax-in-Return-ITAT-re-adjudication-No-Disallowance-of-Interest-Expenditure-taxscan.jpg "No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]")
Capital Gains arising on Sale of Shares cannot be regarded as Sham Profit: ITAT deletes additions made u/s 69A of Income Tax Act [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ), while deleting the addition made under Section 69A of the Income Tax Act, 1961 held that capital gain arising on sale of shares could not be...
![Capital Gains arising on Sale of Shares cannot be regarded as Sham Profit: ITAT deletes additions made u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Delhi-Income-Tax-ITAT-deletes-additions-Capital-Gains-Sale-of-shares-Capital-Gains-arising-on-sale-of-shares-Shares-TAXSCAN.jpg "Capital Gains arising on Sale of Shares cannot be regarded as Sham Profit: ITAT deletes additions made u/s 69A of Income Tax Act [Read Order]")
![ITAT Annual Digest [Part 56]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-annual-digest-56-part-taxscan.jpg "ITAT Annual Digest [Part 56]")
ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench deletd the addition made on account of loss from derivative trading adjusted with business Income. The assessee Kippy Engineering Private...
![ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-addition-made-account-loss-Derivative-Trading-Business-Income-TAXSCAN.jpg "ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]")
No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that no cash paid for taking reversal of entry as commission through proper banking channel by assessee. Hence, held that the revision order...
![No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-cash-paid-taking-reversal-entry-commission-proper-banking-channel-ITAT-revision-order-TAXSCAN.jpg "No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]")
Disallowance of Club Expenses on ground of Use of Expenses for Personal Benefit of Directors: ITAT Directs Re-adjudication [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the disallowance made on club expenses due to the use of expenses for the personal...
![Disallowance of Club Expenses on ground of Use of Expenses for Personal Benefit of Directors: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-Club-Expenses-ground-Use-Expenses-Personal-Benefit-Directors-ITAT-Re-adjudication-TAXSCAN.jpg "Disallowance of Club Expenses on ground of Use of Expenses for Personal Benefit of Directors: ITAT Directs Re-adjudication [Read Order]")