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Income Tax : ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny a...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
Mumbai ITAT affirmed the deletion of a ₹2.74 crore F&O loss addition under Section 153A for an unabated year. The addition, based only on the post-search “Project Falcon” report, was void as no incriminating material was found during the search itself, following the Supreme Court’s mandate.
The ITAT set aside the crore addition, ruling that lower authorities acted mechanically by rejecting detailed evidence like invoices, bank statements, and vendor confirmations. The Tribunal mandated a remand, emphasizing that suspicion is not a valid basis for disallowance when substantial documentary proof is on record.
The ITAT quashed the reassessment order as void because the final assessment was completed by an Income Tax Officer (Ward-2) who lacked jurisdiction, while the proceedings were initiated by another officer (Ward-3). The Tribunal, citing the Allahabad High Court, ruled that jurisdiction cannot be waived or conferred by participation.
he ITAT restricted a S.69A addition on ₹1 crore cash deposits, ruling that treating the entire gross receipt as unexplained income was unjustified for a commission agent. Considering the low-margin onion trading business and past assessments, the Tribunal estimated 4% of the deposits as the correct taxable commission income.
The ITAT ruled that the AO and CIT(A) erred by mechanically raising a default demand simply because commission was paid to a non-resident. The Tribunal stressed that full compliance evidence (Form 15CB, Form 27Q, DTAA analysis) must be examined before classifying the assessee as a defaulter.
The ITAT deleted the addition, ruling the CIT(A)’s rejection of agricultural income based solely on bank deposits not tallying bill-to-bill was arbitrary and illogical. Once the genuine agricultural activity was accepted, timing differences or cash accumulation must be considered.
The ITAT Chandigarh quashed a revision, holding that when the Assessing Officer (AO) conducts a proper enquiry, the PCIT cannot substitute their judgment merely because they desire a deeper verification. The ruling establishes that inadequate enquiry is distinct from lack of enquiry, and only the latter justifies revision.
The ITAT Ahmedabad remanded Dhananjay Tradelink Pvt. Ltd.’s case for fresh assessment, directing the AO to reverify ₹14.39 crore in unsecured loans and creditors under Section 68.
ITAT Hyderabad held that once it is proved that amount is invested towards purchase of new residential property then deduction under section 54F of the Income Tax Act cannot be denied merely because property got registered beyond stipulated period.
ITAT Jaipur held that addition under section 69A of the Income Tax Act towards unexplained money found during the course of search is liable to be deleted since assessee has discharged his onus to prove that the cash found is completely verifiable from the audited books of accounts.
