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Additions for Cash Deposits and Advances u/s 69A: ITAT Deletes Addition Based on Recorded Sales [Read Order]

Sneha Sukumaran Mullakkal

The Chennai Bench of Income Tax Appellate Tribunal (ITAT)deleted the addition made under Section 69A of Income Tax Act,1961 for cash deposits and...

Jurisdiction of PCIT not Invokable in absence of any Incorrectness and Incompleteness in Fact...

ITAT Deletes ₹1.36Cr Addition as Travel Agent's Demonetization Deposits proved as Business Income...

ITAT upholds Disallowance of Knitting Charges Under Section 40A(3), allows Set-Off of Carry Forward...

ITAT sets aside addition of Rs.10 lakhs u/s 69A as Unexplained Cash Deposits During Demonetization...

CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded back for fresh adjudication to the Commissioner of Income Tax (appeals)[CIT(A)] after a delay of four years for disposing of...

ITAT Remands Case to Assessing Officer for Fresh Adjudication Due to Lack of Reasonable Opportunity [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Jaipur Bench, has remanded a case back to the Assessing Officer (AO) for fresh adjudication, citing a lack of reasonable opportunity...

ITAT Remands Rs. 1473.8 Crore Unexplained Money Addition for Fresh Assessment, due to Lack of Fair Hearing [Read Order]

The Delhi Income Tax Appellate Tribunal ( ITAT ) remanded the addition of Rs. 1,473.8 crore as unexplained money for fresh assessment due to a lack of fair hearing. The assessee, Alok Dev,...

ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]

In a notable ruling, the Surat Bench of the Income Tax Appellate Tribunal (ITAT) proceeded to estimate the taxable income of a cheque discounter at 10% of the cash and other credit amount disputed by...

All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) recently clarified the prominence of reasonable estimation, averring that not all bank transactions and credit entries may be treated as...

Lack of evidence and improper enquiry: ITAT Remands Case to AO for Fresh Examination [Read Order]

In a recent decision, the Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has remanded a case involving the partnership firm, back to the Assessing Officer (AO) for a fresh examination. The...

ITAT Intervenes: Orders CIT(A) to Admit Appeal, Citing 'Good and Sufficient Reasons' [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ), Agra Bench, has intervened and directed the Commissioner of Income-tax (Appeals) [CIT(A)] to admit her appeal. This order comes in...

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