![ITAT Strikes Down Reassessment based on Borrowed Satisfaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-Strikes-Down-Reassessment-Borrowed-Satisfaction-taxscan.jpg "ITAT Strikes Down Reassessment based on Borrowed Satisfaction [Read Order]")
ITAT Strikes Down Reassessment based on Borrowed Satisfaction [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that reopening an assessment based solely on an external report, without the Assessing...
![Lack of awareness of Income Tax assessment proceedings u/s 148: ITAT remands matter with penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Income-Tax-assessment-ITAT-remands-Income-Tax-assessment-proceedings-taxscan.jpg "Lack of awareness of Income Tax assessment proceedings u/s 148: ITAT remands matter with penalty [Read Order]")
![Reopening of Assessment u/s 147: ITAT upholds CIT(A) Decision, Finds Reassessment Beyond Jurisdiction [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Reopening-of-Assessment-Assessment-Section-147-ITAT-ITAT-Upholds-CITA-CITA-Decision-Reassessment-Jurisdiction-taxscan.jpg "Reopening of Assessment u/s 147: ITAT upholds CIT(A) Decision, Finds Reassessment Beyond Jurisdiction [Read Order]")
![₹1 Crore Addition for Unexplained Loans: ITAT Deletes Addition due to Sufficient Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Unexplained-Loans-Loans-Sufficient-Evidence-taxscan.jpg "₹1 Crore Addition for Unexplained Loans: ITAT Deletes Addition due to Sufficient Evidence [Read Order]")
![Verified Share Transactions with DEMAT Statements cannot be Treated as Bogus Income without Concrete Proof: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/DEMAT.jpg "Verified Share Transactions with DEMAT Statements cannot be Treated as Bogus Income without Concrete Proof: ITAT [Read Order]")
AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Lucknow Bench, has ruled that Assessing Officer (AO) is not legally entitled to estimate sales on a hypothetical basis while ignoring documentary evidence....
![AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Lucknow-ITAT-case-on-hypothetical-sales-calculation-TAXSCAN.jpg "AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]")
![Supreme Court Grants One Week Time to News Click Against Income Tax Demands [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2025/02/Supreme-Court-Income-Tax-Demand-Supreme-Court-grants-relief-to-News-Click-TAXSCAN.jpg "Supreme Court Grants One Week Time to News Click Against Income Tax Demands [Read Judgment]")
ITAT Deletes Addition as Amount Was Already Declared as Business Income and No Evidence of Money Laundering [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made under Section 68 of the Income Tax Act, 1961, holding that the amount was already declared as business income...
![ITAT Deletes Addition as Amount Was Already Declared as Business Income and No Evidence of Money Laundering [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Money-Laundering.jpg "ITAT Deletes Addition as Amount Was Already Declared as Business Income and No Evidence of Money Laundering [Read Order]")
ITAT Upholds CIT(A)'s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete the addition of ₹3.24 crore under Section 68 of Income Tax Act,...
![ITAT Upholds CIT(A)s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]](https://images.taxscan.in/h-upload/2025/06/03/500x300_2041092-itat-delhi-deletion-of-324-crore-cash-sales-addition-taxscan.webp "ITAT Upholds CIT(A)s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]")
![ITAT remands Case Back to AO Due to Lack of Proper Inquiry [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-tax-news.jpg "ITAT remands Case Back to AO Due to Lack of Proper Inquiry [Read Order]")
ITAT Deletes Rs.35 Lakh Addition as Unexplained Cash Credit due to Lack of Legal Basis [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Chennai Bench ruled in favor of the appellant, setting aside the Rs. 35 lakh addition made under Section 68 of the Income Tax Act, 1961. The tribunal held...
![ITAT Deletes Rs.35 Lakh Addition as Unexplained Cash Credit due to Lack of Legal Basis [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-credits.jpeg "ITAT Deletes Rs.35 Lakh Addition as Unexplained Cash Credit due to Lack of Legal Basis [Read Order]")
If Share Application Money is received from identifiable investors, Onus shifts to Income Tax Dept to Disprove: ITAT Deletes Rs. 5 Crore Addition [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 5 crore under Section 68 of the Income Tax Act, 1961, ruling that when share application money is received...
![If Share Application Money is received from identifiable investors, Onus shifts to Income Tax Dept to Disprove: ITAT Deletes Rs. 5 Crore Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Share-Application-Money-ITAT-identifiable-investors-taxscan.jpg "If Share Application Money is received from identifiable investors, Onus shifts to Income Tax Dept to Disprove: ITAT Deletes Rs. 5 Crore Addition [Read Order]")