Judgement

ITAT Mumbai deleted Rs 3.55 crore additions, holding that purchases backed by evidence cannot be treated as bogus merely on a supplier's unverified statement.

ITAT Deletes Rs. 3.51 Crore Bogus Purchase Addition After Finding GST Returns, Bank Payments, E-Way Bills and Transport Documents Proved Genuine Movement of Goods

The Income Tax Appellate Tribunal (ITAT) Bangalore has restored the matter relating to addition under Section 50C and denial of deduction under Section 54F to the Assessing Officer for fresh adjudication. The Tribunal also directed reconsideration of the exemption claimed under Section 54F in light of the Karnataka High Court ruling in CIT v. K. Ramachandra Rao.

Woman Sold Property for Rs. 1.56 Crore, Faced Capital Gains Recalculation Using Rs. 1.87 Crore Stamp Duty Value; ITAT Orders Fresh Examination of Section 50C and Section 54F Claims

News

The Income Tax Department has released ITR-U Excel Utilities for AY 2022-23, enabling taxpayers to file updated returns under the Finance Act, 2026.

Breaking: Income Tax Dept Releases ITR-U Excel Utilities for AY 2022-23

ITAT allowed Mindteck’s Section 80JJAA deduction of Rs. 11.90 lakh, holding that both the income tax return and Form 10DA were filed within the extended due date.

ITAT Allows Section 80JJAA Deduction, Holds Return and Form 10DA Filed Within Due Date

The ITAT remanded the case of a Mysore civil contractor to the AO for fresh verification of turnover and directed profit estimation at 8% after reconciliation of records.

Civil Contractor Faced Rs. 1.51 Crore Addition After AO Applied 10% Profit Rate on Rs. 26.94 Crore Receipts; ITAT Orders Fresh Examination and 8% Profit Estimation

Scrap liability to M&M held genuine; turnover mismatch, staff welfare and other estimated additions quashed by Tribunal.

Auto Components Manufacturer Got Rs 10.39 Crore Scrap Credit Disallowance Deleted; ITAT Rejects Ad-Hoc Expense Additions and Turnover Mismatch Adjustment