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Vikas Awasthy

ITAT Denies Section 54F Exemption for Property Purchased in Mother's Name [Read Order]

Franklin Joshva

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) denied a deduction under Section 54F of the Income Tax Act, 1961, citing that it cannot ...

No Income Tax Assessment Beyond 10-year limit u/s153A: ITAT favours Assessee [Read Order]

ITAT rejects Income Tax Department’s Algorithm-Based Tax Addition in Cash Deposit Made During...

Violation of Natural Justice: ITAT Sets Aside CIT(A)’s Ex-Parte Order Passed without Notice to...

ITAT Sets Aside Ex-Parte Orders, Restores Assessee’s Appeal for Fresh Hearing on Unexplained...

ITAT Directs Inclusion of Magma Advisory Services as Comparable, Rejects Exclusion Based on Negative Cash Flow [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) directed the inclusion of Magma Advisory Services Ltd. as a comparable, rejecting its exclusion based on negative cash flow. Honda R & D...

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,...

Income Tax Annual Digest 2024: ITAT Cases [Part 4]

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. Assessee entitled to...

Reopening of Assessment invalid due to Inconsistency in Reasons and Addition: ITAT quashes Reassessment [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment proceedings due to inconsistency between the reasons for reopening and the addition made. Bhawani Castings P....

Notices for Appeal Sent to Incorrect Email-ID: ITAT Restores Matter to CIT(A) [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) restored the appeal to the Commissioner of Income Tax ( Appeals ) [CIT(A)] after finding that the notices for the appeal had been sent to an...

AO's Notices were never served to Assessee: ITAT sets aside Ex-Parte Order [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently in a ruling set aside an ex-parte assessment order as the notices from the Assessing Officer ( AO ) was never served to the...

ITAT directs Reassessment of ₹10.3 Lakh Deposit after Original Appeal dismissed without full review [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) in Delhi directed a reassessment of a disputed ₹10.3 lakh deposit made during India’s 2016 demonetization period, following an appeal...