Judgement

The ITAT deleted Section 68 addition, holding that unsecured loan amounts directly paid to the Haryana Mining Department through banking channels do not require examination of identity or creditworthiness.

ITAT Says Identity and Creditworthiness Irrelevant Where Loan Was Directly Paid to Haryana Mining Department

The Tribunal dismissed the Revenue's appeal after ruling that the quashing of the substantive assessment left no basis for the protective addition.

ITAT: Protective Addition Cannot Survive After Substantive Assessment Is Quashed

The ITAT Ahmedabad allows interest expenditure on slump sale borrowings and deletes addition towards advance revenue receipts

  ITAT Allows Jio Platforms' Claims on Depreciation, Interest Expenditure and Advance Revenue

ITAT deletes Rs 1.89 lakh penalty under Section 270A, holding that non-filing of Form 68 was only a technical lapse and could not deny immunity under Section 270AA.

ITAT Deletes Rs 1.89 Lakh Penalty Under Section 270A, Holds Non-Filing of Form 68 a Technical Lapse

ITAT Kolkata quashes reassessment for AY 2012-13, holding that failure to issue the mandatory Section 143(2) notice rendered the assessment legally invalid.

ITAT Quashes Reassessment for Failure to Issue Mandatory Section 143(2) Notice

The ITAT Ahmedabad has held that Section 68 applies only where there is a real inflow of money and not a mere accounting adjustment. 

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ITAT Says Identity and Creditworthiness Irrelevant Where Loan Was Directly Paid to Haryana Mining Department

ITAT: Protective Addition Cannot Survive After Substantive Assessment Is Quashed

ITAT Allows Jio Platforms' Claims on Depreciation, Interest Expenditure and Advance Revenue

ITAT Deletes Rs 1.89 Lakh Penalty Under Section 270A, Holds Non-Filing of Form 68 a Technical Lapse

ITAT Quashes Reassessment for Failure to Issue Mandatory Section 143(2) Notice

ITAT Holds Notional Book Entry Without Actual Fund Inflow Cannot be Taxed as Unexplained Cash Credit Under Section 68