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Siddhartha Nautiyal

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

Saagarika Gopinath

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...

Objections to Draft Assessment Order filed beyond Statutory Time Limit: ITAT restores matter to DRP...

ITAT sets aside Rs. 1.55 Crore Unexplained Investment Addition, Orders Fresh Assessment due to...

ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering...

ITAT Remands Case to CIT(A) for Fresh Hearing, Citing Lack of Opportunity for Assessee to be Heard...

Inox India's Lease Rental Income from unsold Manufactured Goods Treated as Business Income, not Income from other Sources: ITAT [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Inox India's lease rental income derived from leasing out unsold vacuum-insulated tanks manufactured by the company...

Deduction u/s 80HHC is not allowable if S. 80IA deductions are already claimed: ITAT on Inox India Matter [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that deductions under Section 80HHC of the Income Tax Act, 1961 cannot be claimed for the same income if deductions under...

ITAT invalidates PCIT's S.263 Revision Order Issued in Deceased Taxpayer's Name Due to Procedural Lapses [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) invalidated the Principal Commissioner of Income Tax ( PCIT )'s Section 263 revision order issued in the name of a deceased taxpayer,...

Failure to Adjudicate Issue u/s 148 of Income Tax Act: ITAT Remands Case to CIT(A) [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case of the assessee to the Commissioner of Income Tax (Appeals) [CIT(A)], for fresh adjudication due to the failure to...

ITAT allows Sales Promotion Expenses and Discount Provisions, Citing Minimal Impact on Revenue and Proper Documentation [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) allowed sales promotion expenses and discount provisions citing their minimal impact on the company’s revenue and the proper documentation...

Hearing Opportunity not Provided by CIT(A) while Not Condoning Delay: ITAT restores Appeal for Fresh Adjudication [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) restored the file in which penalty was imposed on the assessee for fresh adjudication due to procedural lapses...

ITAT upholds Addition of Unexplained Income under Section 69A due to Assessee's Non-Compliance [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) upheld the addition of unexplained income under Section 69A of the Income Tax Act, 1961, due to the assessee's continuous non-compliance. ...

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