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Siddhartha Nautiyal

Addition of Rs. 21,42,857 u/s 56(2)(vii)(b)(ii): ITAT Allows Appeal for Failure to Refer Valuation to DVO [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)allowed the appeal filed by the assessee, holding that the addition of Rs. 21,42,857 under...

ITAT Dismisses Penalty for Disallowance of Deduction u/s 80IA(4), Citing Assessee's Eligibility as...

Rejection of 80G Application Due to Incorrect Assumption: ITAT Sets Aside the Matter to CIT(E) [Read...

Validity of S.153C Proceedings for AY 2006-07 : ITAT Restores Matter to CIT(A) [Read Order]

ITAT Directs Reassessment of Ex-Parte Dismissal u/s 250 of Income Tax Act: Criticizes Negligence of...

Credit Card Misuse by Friend Not Attributable as Personal Expenditure: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), held that the misuse of credit cards by a friend cannot be treated as personal expenditure. The assessee, Abdulmannan...

Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 68 of Income Tax Act,1961 did not apply to Corporate Social Responsibility (CSR) funds received by the assessee and...

Income Tax Annual Digest 2024: ITAT Cases [Part 22]

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal ( ITAT ) Benches of India reported at Taxscan.in during 2024. Failure to Prove...

Unexplained Cash Credits u/s 68: ITAT upholds Reduction Based on Peak Credit and Denies Telescoping of Income [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals) [ CIT(A) ]'s decision regarding unexplained cash credits under Section 68 of Income Tax...

Addition of Rs 99.52 Lakh u/s 69 for Unexplained Loans: ITAT Refers Matter to AO [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) referred the matter back to the Assessing Officer ( AO ) regarding the addition of Rs. 99.52 lakh under section 69 of Income Tax...

S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction" ITAT [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 263 of the Income Tax Act, 1961, cannot be initiated based on “borrowed satisfaction". This...

Objections to Draft Assessment Order filed beyond Statutory Time Limit: ITAT restores matter to DRP for Verification [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Dispute Resolution Panel ( DRP ) for verification after ruling that the objections filed by the assessee to...

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