Read all Latest Updates on and about section 143(1) of the Income Tax Act

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CBDT Extends Processing Deadline for ITRs of AY 2023-24: Know Exemptions [Read Circular]

The Central Board of Direct Taxes ( CBDT), vide circular dated 9th June 2025 has extended the deadline for processing valid Income Tax Returns (...

CIT(A) Mistakenly Treated Private Company as Cooperative Society u/s 80P: ITAT remands Case [Read...

Jharkhand HC Quashes ITAT Ruling Which Deletes Addition u/s 40(a)(ia) of Income Tax Act [Read Order]

ITAT Weekly Round-Up [April 27th- May 2nd]

No Income Tax Addition can be made Solely Based on Hypothecated Stock Disclosure to Bank: ITAT [Read...

ITAT Ahmedabad Orders Rectification After Wrong Consideration of Depreciation as Net Profit [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has directed rectification after finding that depreciation was wrongly considered as net profit in the intimation issued under Section 143(1) of the...

Bogus Purchases: Bombay HC Sustains ₹6 Crore Income Tax Addition using Peak of Purchases [Read Order]

The Bombay High Court recently used the peak of purchases method to ascertain and uphold an income tax addition of ₹6.15 crore on a trader with regard to alleged bogus purchases done during the...

ITAT Dismisses Appeal Over Excess Share Premium Tax as Assessee Fails to Appear [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal concerning an addition made under Section 56(2)(viib) of the Income Tax Act, 1961 after the assessee failed to...

ITAT Directs Deletion of Rs 28.57 Lakh Addition, Says AO Failed to Follow Due Process [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) Pune Bench has set aside an addition of Rs. 28.57 lakhs made under Section 143(1) of the Income Tax Act, 1961. The tribunal held...

ITAT Allows Delay in Filing Appeal Due to Pending Rectification and COVID-19, Orders Case to Be Heard on Merits [Read Order]

The Pune Bench of Income Tax Appellate Tribunal(ITAT) allowed the delay in filing an appeal due to the pending rectification application and the impact of the COVID-19 period. Pudumjee Paper...

Disallowance of deduction made u/s 80P Beyond Scope of Section 143(1): ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the disallowance made under Section 80 P of the Income Tax Act, 1961, as it was beyond the scope of adjustment under Section...

ITAT Orders Reassessment in ₹1.8 Cr Capital Gains Case, directs AO to Review E-Notices and Deductions u/s 54 of Income Tax Act [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to reassess the appellant’s case, a dispute on capital gains taxation for the assessment year(AY)...

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