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All ITAT

Reassessment on Illiquid Derivatives Set Aside as notice was time-barred

September 23, 2025 738 Views 0 comment Print

The ITAT Mumbai ruled in favor of Nilesh Shirish Mehta, setting aside a reassessment order for AY 2015-16. The tribunal found the Section 148 notice, issued after April 1, 2021, to be time-barred and invalid based on concessions made by the Department before the Supreme Court in the case of Union of India v. Rajeev Bansal.

ITAT Ahmedabad Quashes ₹2.99 Cr Share Capital Addition – No “Source of Source” for AY 2009-10

September 23, 2025 450 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Ahmedabad dismissed the Revenue’s appeal, confirming the deletion of additions made under Section 68 of the Income Tax Act.

Section 143(3) Scrutiny Assessment Overrides CPC Adjustment: ITAT Hyderabad

September 23, 2025 684 Views 0 comment Print

Tribunal held that once a scrutiny assessment under Section 143(3) allows a claim, any earlier disallowance by CPC under Section 143(1) merges into it and loses force.

Loans received & repaid cannot be treated as accommodation entries: ITAT Ahmedabad

September 23, 2025 1326 Views 0 comment Print

The ITAT Ahmedabad has deleted a ₹55 lakh addition made under the “accommodation entry” theory, ruling that the repayment of loans through banking channels negated any benefit to the assessee, thereby making the addition and the reassessment legally unsustainable.

ITAT Nagpur Condones 729-Day Delay Due to Death of Counsel & Medical Issues

September 23, 2025 615 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Nagpur condoned a 729-day delay in Rupa Abhay Vyas’s appeal, citing the death of her legal counsel during the COVID-19 pandemic and her subsequent medical diagnosis.

ITAT Ahmedabad Allows 10AA Deduction Despite Form 56F Portal Glitch

September 23, 2025 417 Views 0 comment Print

Tribunal held that technical issues in filing Form 56F cannot bar deduction under Section 10AA. Meghmani LLP’s Rs. 4.82 crore claim allowed as form submission was directory, not mandatory.

ITAT Quashes WhatsApp Chats & Cancelled MOU based Additions

September 23, 2025 5157 Views 0 comment Print

In a case concerning a real estate transaction, the Income Tax Appellate Tribunal (ITAT), Ahmedabad, held that an assessment under Section 153C was invalid as no incriminating material was found from the assessee.

CIT(A) Erred in Applying Merger Doctrine – Matter Remanded to AO

September 23, 2025 486 Views 0 comment Print

The ITAT in Hyderabad has remanded the case of Capital Fortunes to the AO, ruling that the CIT(A) was not justified in dismissing the appeal on a technicality. The tribunal held that genuine claims, such as set-off of losses and dividend exemption, must be decided on their merits.

ITAT Mumbai Quashes Reassessment: Contradictory AO Reasons Void Proceedings

September 23, 2025 450 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Nagpur has invalidated reassessment proceedings against Mithilesh Jagdeo Singh Pawar, ruling that the case was reopened on a matter already examined during the original scrutiny assessment.

ITAT Hyderabad Condoned 1060-Day Delay Due to Wrong Email ID in Income Tax Appeal

September 23, 2025 495 Views 0 comment Print

The ITAT Hyderabad has ruled that a 1060-day delay in filing an appeal can be condoned if statutory notices were sent to an incorrect email address, preventing the assessee from becoming aware of the proceedings.

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