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Siddhartha Nautiyal

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

Saagarika Gopinath

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...

Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness...

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

Unexplained Cash Credits u/s 68: ITAT upholds Reduction Based on Peak Credit and Denies Telescoping...

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

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...

ITAT sets aside Rs. 1.55 Crore Unexplained Investment Addition, Orders Fresh Assessment due to denial of Fair Hearing [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) set aside the addition of Rs. 1.55 crore as an unexplained investment and directed a fresh assessment due to...

ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the Gross margin can be reduced to 6% from 12% which was determined by the Commissioner of Income Tax [Appeals] CIT(A),...

ITAT Remands Case to CIT(A) for Fresh Hearing, Citing Lack of Opportunity for Assessee to be Heard [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication due to the denial of a personal hearing...

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...

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