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![Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Stock-Undervaluation.jpg "Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]")
Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made due to the alleged undervaluation of stock, ruling that the...
![Wrong Classification of Wages: ITAT Directs Reclassification as Direct Expenses, Deletes Addition for Incorrect Stock Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/stock-valuation.jpg "Wrong Classification of Wages: ITAT Directs Reclassification as Direct Expenses, Deletes Addition for Incorrect Stock Valuation [Read Order]")
![Jurisdiction of PCITÂ not Invokable in absence of any Incorrectness and Incompleteness in Fact Appreciation by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Delhi-ITAT-ITAT-Dismisses-Revenues-Tax-Appeal-Lack-of-Jurisdiction-Appropriate-Bench-Grants-Liberty-Income-Tax-Appellate-Tribunal-taxscan.jpg "Jurisdiction of PCITÂ not Invokable in absence of any Incorrectness and Incompleteness in Fact Appreciation by AO: ITAT [Read Order]")
![Addition of Rs. 55 Lakh as Undisclosed Income Based on Retraction: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Addition-Undisclosed-Income-Retraction-ITAT-taxscan.jpg "Addition of Rs. 55 Lakh as Undisclosed Income Based on Retraction: ITAT deletes Addition [Read Order]")
![ITAT Remands Case to Assessing Officer for Fresh Adjudication Due to Lack of Reasonable Opportunity [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Remands-Case-Remands-Case-Assessing-Officer-Fresh-Adjudication-Lack-of-Reasonable-Opportunity-Reasonable-Opportunity-taxscan.jpg "ITAT Remands Case to Assessing Officer for Fresh Adjudication Due to Lack of Reasonable Opportunity [Read Order]")
![Tax Leviable on Gain out of Crypto Currency Sale as Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Tax-Leviable-Gain-Crypto-Currency-Sale-Capital-Gains-ITAT-taxscan.jpg "Tax Leviable on Gain out of Crypto Currency Sale as Capital Gains: ITAT [Read Order]")
ITAT orders Reconsideration of 80G Application Rejection by CIT(E), citing CBDT Circular on Extended Deadlines [Read Order]
In a recent ruling, the Jaipur bench of the Income Tax Appellate Tribunal ( ITAT ) ordered reconsideration of the rejection of the application filed under 80 G of the Income Tax Act, 1961 by the...
![ITAT orders Reconsideration of 80G Application Rejection by CIT(E), citing CBDT Circular on Extended Deadlines [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Jaipur-Income-Tax-Charitable-Trust-taxscan.jpg "ITAT orders Reconsideration of 80G Application Rejection by CIT(E), citing CBDT Circular on Extended Deadlines [Read Order]")
![ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Trust-CITE-income-tax-Taxscan.jpg "ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]")
Widow Entitled to Fresh Opportunity to Prove Genuineness of Income, Assessment Year 2010-11 to be Re-Examined: ITAT [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) recently set aside an assessment order and directed the Assessing Officer to conduct fresh assessment proceedings after providing...
![Widow Entitled to Fresh Opportunity to Prove Genuineness of Income, Assessment Year 2010-11 to be Re-Examined: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Widow-Entitled-Fresh-Opportunity-Prove-Genuineness-of-Income-Assessment-Year-2010-11-Re-Examined-ITAT-taxscan.jpg "Widow Entitled to Fresh Opportunity to Prove Genuineness of Income, Assessment Year 2010-11 to be Re-Examined: ITAT [Read Order]")
![ITAT quashes Revision Order passed without showing Prejudice to Revenue or Error by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Failure-to-prove-sufficient-cause-to-condone-delay-filing-appeal-against-revision-order-condone-delay-Income-Tax-Act-revision-order-ITAT-dismisses-appeal-ITAT-appeal-taxscan.jpg "ITAT quashes Revision Order passed without showing Prejudice to Revenue or Error by AO [Read Order]")
ITAT affirms deletion of ₹43,33,606 Addition for Non-Genuine Purchases, Citing Consistent GP Rate [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete an addition of ₹43,33,606 related to non-genuine purchases. The...
![ITAT affirms deletion of ₹43,33,606 Addition for Non-Genuine Purchases, Citing Consistent GP Rate [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-affirms-Non-Genuine-Purchases-Citing-Consistent-GP-Rate-TAXSCAN.jpg "ITAT affirms deletion of ₹43,33,606 Addition for Non-Genuine Purchases, Citing Consistent GP Rate [Read Order]")
![Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Jaipur-Income-Tax-Appellate-Tribunal-Income-Tax-bogus-purchases-Unverified-sellers-taxscan.jpg "Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]")