Judgement

The Income Tax Appellate Tribunal (ITAT) Mumbai  has upheld the deletion of an addition of Rs 1.07 crore made on account of alleged bogus purchases.

Builder's Purchases Held Genuine Despite Sales Tax Alert; ITAT Deletes Rs. 1.07 Crore Income Tax Addition

The ITAT held that a cooperative society cannot claim a deduction under Section 80P if its income tax return is not filed within the due date prescribed under Section 139(1), even when filed later in response to a Section 148 notice.

ITAT: Late ITR Filing Bars Rs 83.89 Lakh Section 80P Deduction Despite Return Filed Under Section 148

The Income Tax Appellate Tribunal (ITAT) Chennai has deleted additions exceeding Rs 29.87 crore made against a Chartered Accountant after holding that the sums deposited in his bank did not constitute his own income

ITAT Chennai Deletes Rs 29.87 Crore Addition on CA who Acted Merely as Medium for Payment of Clients’ Taxes

ITAT rejects goodwill depreciation after finding transfer agreement unenforceable, unsigned, and legally deficient.

ITAT Denies Goodwill Depreciation Based on Invalid Business Transfer Agreement

Delhi ITAT remanded a Rs 1.31 crore addition, holding that the assessment order was unreasoned and lacked proper inquiry.

ITAT Remands Rs.1.31 Crore Income Tax Addition Over Cryptic, Incoherent and Non-Speaking Assessment Order

ITAT deletes bogus purchases and Section 68 additions and restricts 14A disallowance to exempt income.

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Builder's Purchases Held Genuine Despite Sales Tax Alert; ITAT Deletes Rs. 1.07 Crore Income Tax Addition

ITAT: Late ITR Filing Bars Rs 83.89 Lakh Section 80P Deduction Despite Return Filed Under Section 148

ITAT Chennai Deletes Rs 29.87 Crore Addition on CA who Acted Merely as Medium for Payment of Clients’ Taxes

ITAT Denies Goodwill Depreciation Based on Invalid Business Transfer Agreement

ITAT Remands Rs.1.31 Crore Income Tax Addition Over Cryptic, Incoherent and Non-Speaking Assessment Order

Civil Contractor Earned Just Rs. 58,229 Dividend Income but Faced Rs. 9.88 Lakh Income Tax Disallowance; Won Relief in ITAT