![Addition on Share Capital Unsustainable In Absence Of Incriminating Material: ITAT Deletes ₹9.99 Cr Addition u/s 68 [Read Order]](https://images.taxscan.in/h-upload/2026/03/23/2129917-addition-share-capital-unsustainable-absence-incriminating-material-taxscan-.webp "Addition on Share Capital Unsustainable In Absence Of Incriminating Material: ITAT Deletes ₹9.99 Cr Addition u/s 68 [Read Order]")
Addition on Share Capital Unsustainable In Absence Of Incriminating Material: ITAT Deletes ₹9.99 Cr Addition u/s 68 [Read Order]
The Income Tax Appellate Tribunal Chennai Bench, has held that no addition can be made under Section 68 of the Income Tax Act 1961 in the absence of...
![Penalty for Non-Compliance of Notices not Leviable where Assessment Completed u/s 143 based on Information Furnished: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/03/09/2128581-itat-penalty-for-non-compliance-taxscan.webp "Penalty for Non-Compliance of Notices not Leviable where Assessment Completed u/s 143 based on Information Furnished: ITAT [Read Order]")
![PCIT Must Explain How Income Tax Assessment Order is Erroneous u/s 263: ITAT Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/18/2126269-explain-how-income-tax-assessment-order.webp "PCIT Must Explain How Income Tax Assessment Order is Erroneous u/s 263: ITAT Allows Appeal [Read Order]")
![SLP Filed Merely to Get ‘Stamp of this Court’: Supreme Court Rejects Income Tax Dept Plea Against Adani Power [Read Judgement]](https://images.taxscan.in/h-upload/2026/01/24/2121739-supreme-court-rejects-slp-taxscan.webp "SLP Filed Merely to Get ‘Stamp of this Court’: Supreme Court Rejects Income Tax Dept Plea Against Adani Power [Read Judgement]")
Bona Fide Lease Rental Claim based on AS-19 No Ground for Penalty: ITAT Quashes ₹30 Cr Levy on Axis Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, quashed the penalty imposed on Axis Bank under section 271(1)(c) of the Income Tax Act, 1961, for furnishing inaccurate particulars of...
![Bona Fide Lease Rental Claim based on AS-19 No Ground for Penalty: ITAT Quashes ₹30 Cr Levy on Axis Bank [Read Order]](https://images.taxscan.in/h-upload/2026/01/24/2121675-bona-fide-lease-rental-claim-taxscan.webp "Bona Fide Lease Rental Claim based on AS-19 No Ground for Penalty: ITAT Quashes ₹30 Cr Levy on Axis Bank [Read Order]")
Mere Change in Head of Loss Does Not Constitute Under-Reporting u/s 270A: ITAT Deletes ₹15.19 Cr Penalty [Read Order]
The Income Tax Appellate Tribunal, Mumbai Bench (ITAT), held that a mere change in the head under which a loss is classified cannot be treated as under-reporting of income for the purpose of...
![Mere Change in Head of Loss Does Not Constitute Under-Reporting u/s 270A: ITAT Deletes ₹15.19 Cr Penalty [Read Order]](https://images.taxscan.in/h-upload/2026/01/08/2117857-mere-change-head-loss-does-not-constitute-taxscan.jfif "Mere Change in Head of Loss Does Not Constitute Under-Reporting u/s 270A: ITAT Deletes ₹15.19 Cr Penalty [Read Order]")
Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that consideration received for offshore supply of plant, equipment, drawings and designs by a foreign company cannot be taxed in...
![Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/2117489-itat-allows-appeal-by-sms-group-gmbh-taxscan.jfif "Consideration for Off-shore Supply of Equipment and Designs cannot Be Taxed in India: ITAT allows Appeal by SMS Group GmbH [Read Order]")
Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the levy of penalty under Section 271(1)(c) of the Income Tax Act, 1961, holding that the charge of furnishing inaccurate...
![Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116735-stock-broker-taxscan.webp "Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]")
No Presumptive Disallowance u/s 14A: ITAT Deletes ₹118.68 Cr Addition Against Great Eastern Spinning [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that disallowance under Section 14A of the Income Tax Act, 1961 cannot be based upon presumptions and that the Assessing Officer (AO)...
![No Presumptive Disallowance u/s 14A: ITAT Deletes ₹118.68 Cr Addition Against Great Eastern Spinning [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115334-itat-deletes-11868-cr-addition-against-great-eastern-spinning-taxscan.jfif "No Presumptive Disallowance u/s 14A: ITAT Deletes ₹118.68 Cr Addition Against Great Eastern Spinning [Read Order]")
Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that a mechanical adjustment under Section 145A of the Income Tax Act, 1961, without demonstrating any real impact on profits,...
![Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115310-mechanical-145a-addition-set-aside-itat-rules-profit-neutral-modvat-adjustment-cant-trigger-tax-taxscan.webp "Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]")
Assessment Order Allowing Deduction on CSR Expenditure is Not Erroneous: ITAT deletes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bench at Mumbai has held that when the Assessing Officer (AO) has taken one of the possible views on allowability of Corporate Social Responsibility (CSR) ...
![Assessment Order Allowing Deduction on CSR Expenditure is Not Erroneous: ITAT deletes Revision Order [Read Order]](https://images.taxscan.in/h-upload/2025/11/17/2106026-csr-csr-expenditure-itat-taxscan.webp "Assessment Order Allowing Deduction on CSR Expenditure is Not Erroneous: ITAT deletes Revision Order [Read Order]")