![AO Fails to Properly Divide Stamp Duty Valuation Difference and Unexplained Investment: ITAT Upholds PCIT’s Invocation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Stamp-Duty-Valuation-Stamp-Duty-Valuation-Difference-and-Unexplained-Investment-Valuation-Difference-Unexplained-Investment-ITAT-Upholds-ITAT-taxscan.jpg "AO Fails to Properly Divide Stamp Duty Valuation Difference and Unexplained Investment: ITAT Upholds PCIT’s Invocation [Read Order]")
AO Fails to Properly Divide Stamp Duty Valuation Difference and Unexplained Investment: ITAT Upholds PCIT’s Invocation [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax (PCIT)’s invocation of Section 263 of the...
![ITAT sets aside PCIT’s Section 263 Order, Holds Bank of Maharashtra’s ₹1137 Crore Deduction for Bad and Doubtful Debts [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Set-PCIT-PCITs-Section-263-Bank-of-Maharashtra-Deduction-for-Bad-and-Doubtful-Debts-Doubtful-Debts-Debts-taxscan.jpg "ITAT sets aside PCIT’s Section 263 Order, Holds Bank of Maharashtra’s ₹1137 Crore Deduction for Bad and Doubtful Debts [Read Order]")
![ITAT Quashes PCIT’s Revision Order on Alleged Bogus Purchases Citing AO’s Plausible View Backed by ITO Report and VAT Returns [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Quashes-PCITs-PCITs-Revision-Order-Revision-Order-Bogus-Purchases-AOs-Plausible-View-ITO-Report-VAT-Returns-taxscan.jpg "ITAT Quashes PCIT’s Revision Order on Alleged Bogus Purchases Citing AO’s Plausible View Backed by ITO Report and VAT Returns [Read Order]")
![Income Tax Assessing Officer Cannot Remain Oblivious to Claim Without Enquiry: Kerala HC Dismisses Appeal of Cochin International Airport [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Kerala-HC-Kerala-High-Court-Income-Tax-Assessing-Officer-Income-Tax-Assessing-Officer-taxscan.jpg "Income Tax Assessing Officer Cannot Remain Oblivious to Claim Without Enquiry: Kerala HC Dismisses Appeal of Cochin International Airport [Read Order]")
![Interest-Free Loans to Related Parties: ITAT Dismisses Assessees Appeal, Validates PCITs Action [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Interest-Free-Loans-Interest-Free-Loans-to-Related-Parties-Related-Parties-ITAT-ITAT-Mumbai-taxscan.jpg "Interest-Free Loans to Related Parties: ITAT Dismisses Assessees Appeal, Validates PCITs Action [Read Order]")
AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCIT's Revision Order [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) quashed the order of the Principal Commissioner of Income Tax, stating that the Assessing Officer (AO) correctly allowed deduction under...
![AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCITs Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Deduction.jpg "AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCITs Revision Order [Read Order]")
Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to modify the addition citing that only 8% of creditors written off and discount receipts linked to...
![Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Chennai-Business-Income-Taxsacan.jpg "Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]")
ITAT Confirms Taxability of Trust Receipts u/s 56(2)(x) of Income Tax Act citing Inclusion of Non-Relatives as Beneficiaries [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal filed by the assessee, upholding the Principal Commissioner of Income Tax ( PCIT )’s order under Section 263 of...
![ITAT Confirms Taxability of Trust Receipts u/s 56(2)(x) of Income Tax Act citing Inclusion of Non-Relatives as Beneficiaries [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-Section-263-of-Income-Tax-Act-TAXSCAN.jpg "ITAT Confirms Taxability of Trust Receipts u/s 56(2)(x) of Income Tax Act citing Inclusion of Non-Relatives as Beneficiaries [Read Order]")
PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 14A of the Income Tax Act, 1961 was a Non-Obstante clause that can be applied prospectively from 01.04.2022 and quashed...
![PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-PCIT-Disallow-Expenditure-Disallow-Expenditure-Section-14A-Section-14A-PCIT-Revises-Non-Obstante-Clause-taxscan.jpg "PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]")
![S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Section-263-of-the-Income-Tax-Act-Borrowed-Satisfaction-Income-Tax-Section-263-taxscan.jpg "S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]")
ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax ( PCIT ) for disallowing Rs. 4.18 crores as interest on unutilized government...
![ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Criticizes-PCIT-Interest-on-Unutilized-Govt-Grants-Interest-Unutilized-Govt-Grants-taxscan.jpg "ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]")