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Accommodation Entry Transactions: ITAT quashes Revision Order upholding Plausible View by AO [Read Order]

Manu Sharma

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed a revision order passed under Section 263 of the Income Tax Act, 1961,...

Relief for Adani Power: ITAT Invalidates Revision Order Passed Against Non-Existent Entity [Read...

An analysis of key ITAT (Income Tax Appellate Tribunal) rulings

Steel Scrap or Tax Trap? ITAT Slams PCIT’s Overreach in Ahmedabad Bizman’s Case [Read Order]

ITAT Partly Sets Aside Order u/s 263 for Improper Mandatory Direction to Add Accommodation Entries...

ITAT Rules in Favor of NSE: Rs 170 Crore SGF Contribution Allowable as Business Expense [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has allowed the appeal filed by National Stock Exchange of India (NSE) against the revisionary order passed by the Principal Commissioner of...

ITAT Quashes PCIT’s Order u/s 263 for Relying on Audit Objection [Read Order]

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that Section 263 of the Income Tax Act, 1961, which empowers the Principal Commissioner of Income Tax (PCIT) to revise...

PCIT revises AO's order citing trade receivable transfer during amalgamation: ITAT rules PCIT misconceived on facts [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) quashed the Principal Commissioner of Income Tax (PCIT)’s order passed under Section 263 of the Income Tax Act, 1961. Rochem Separation...

Incorrect Exemption on LIC Annuity from VRS: ITAT Upholds Revision u/s 263 of Income Tax Act [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal upheld the Principal Commissioner of Income Tax(PCIT)revision order under Section 263 of Income Tax Act,1961, confirming that the exemption claim...

Adani Infrastructure Gets Relief from ITAT: Revision Order Passed by PCIT Set Aside Due to Lack of Error and Prejudice [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench ruled in favor of the assessee, setting aside the revision order passed by the Principal Commissioner of Income Tax (PCIT)-1, Ahmedabad, under...

S. 56(2)(viib) of Income Tax does not Cover Holding-Subsidiary Share Transactions: ITAT quashes Revision Order against Oyo [Read Order]

In arecent ruling, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has quashed the revision order passed under section 263 of the Income Tax Act, 1961 against Oyo holding that share...

Failure to Record Opinion on Penalty Levy Not Erroneous or Prejudicial to Revenue's Interest: ITAT [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal(ITAT)ruled that the failure to record an opinion on penalty levy under Section 270A of Income Tax Act,1961 in the assessment order not erroneous or...