![CIT(A)s Order Lacks Detailed Reasoning on Cash Book Discrepancies: ITAT Remands Matter to AO [Read Order]](https://images.taxscan.in/h-upload/2025/06/16/500x300_2045319-citas-cash-book-itat-taxscan.webp "CIT(A)s Order Lacks Detailed Reasoning on Cash Book Discrepancies: ITAT Remands Matter to AO [Read Order]")
CIT(A)'s Order Lacks Detailed Reasoning on Cash Book Discrepancies: ITAT Remands Matter to AO [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter concerning the addition of unexplained cash deposits under Section 68...
![Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Capital-Gain-Deduction-54F-of-Income-Tax-Act-allowed-without-holding-Flats-for-a-minimum-ITAT-TAXSCAN.jpg "Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT [Read Order]")
![Penalty u/s 271AAC is not Applicable, if Tax u/s 115BBE of Income Tax Act is NIL: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Tax-Income-Tax-Act-ITAT-directs-Readjudication-ITAT-ITAT-Readjudication-Taxscan.jpg "Penalty u/s 271AAC is not Applicable, if Tax u/s 115BBE of Income Tax Act is NIL: ITAT directs Readjudication [Read Order]")
![No Penalty u/s 271B of Income Tax Act when there is Reasonable Cause for not getting Audited u/s 44AB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Income-Tax-Act-Reasonable-Cause-for-not-getting-Audited-ITAT-Taxscan.jpg "No Penalty u/s 271B of Income Tax Act when there is Reasonable Cause for not getting Audited u/s 44AB: ITAT [Read Order]")
![ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Appeal-Substitute-Name-of-Legal-Heirs-for-Deceased-Assessee-TAXSCAN.jpg "ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]")
Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench in an appeal filed before it, held that foreign exchange fluctuation loss incurred in the business health care could not be allowed as...
![Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Foreign-Exchange-Fluctuation-loss-Business-of-Healthcare-Revenue-Expenditure-ITAT-TAXSCAN1.jpg "Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]")
No Penalty shall be Levied u/S 271B if there is Reasonable Cause for Not Getting the Account Audited: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no penalty should be levied under Section 271B of the Income Tax Act, 1961 if there is reasonable cause for not...
![No Penalty shall be Levied u/S 271B if there is Reasonable Cause for Not Getting the Account Audited: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Reasonable-Cause-Account-ITAT-Taxscan.jpg "No Penalty shall be Levied u/S 271B if there is Reasonable Cause for Not Getting the Account Audited: ITAT [Read Order]")
Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that income Addition on unexplained Expenditure is valid when assessee fails to explain the source of expenditure Shri...
![Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Addition-on-Unexplained-Expenditure-is-valid-When-Assessee-fails-to-Explain-the-Source-of-Expenditure-ITAT-TAXSCAN.jpg "Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]")
Income Tax Addition u/s 68 not valid when assessee does not maintain any Books of Account: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Income Tax Addition under section 68 of the Income Tax Act,1961 is not valid when the assessee does not maintain any...
![Income Tax Addition u/s 68 not valid when assessee does not maintain any Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-assessee-maintain-Books-Account-ITAT-TAXSCAN.jpg "Income Tax Addition u/s 68 not valid when assessee does not maintain any Books of Account: ITAT [Read Order]")
![Unabsorbed Depreciation can be set off against ‘Income from Other Sources’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Unabsorbed-depreciation-income-from-other-sources-ITAT-taxscan.jpg "Unabsorbed Depreciation can be set off against ‘Income from Other Sources’: ITAT [Read Order]")
International Transaction of Information Technology Enabled Services can be calculated under Arm’s Length: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) comprising of Shri R K Panda, AM and Shri Yogesh Kumar U S, JM has held that international transactions of Information Technology...
![International Transaction of Information Technology Enabled Services can be calculated under Arm’s Length: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/International-transaction-Information-Technology-Services-Arms-Length-ITAT-taxscan.jpg "International Transaction of Information Technology Enabled Services can be calculated under Arm’s Length: ITAT [Read Order]")
Amendments to Sections 43B and 36(1)(va) of the Income Tax Act cannot have Retrospective Effect since It Imposes Liability on Assessee: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the amendments to sections 43B and 36(1)(va) of the Income Tax Act, 1961 cannot have retrospective effect since the...
![Amendments to Sections 43B and 36(1)(va) of the Income Tax Act cannot have Retrospective Effect since It Imposes Liability on Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Income-Tax-Act-Retrospective-Effect-Liability-Assessee-ITAT-taxscan.jpg "Amendments to Sections 43B and 36(1)(va) of the Income Tax Act cannot have Retrospective Effect since It Imposes Liability on Assessee: ITAT [Read Order]")