Judgement

ITAT ruled that only the profit element, not the full amount, can be added on alleged bogus purchases when sales are accepted, dismissing the Revenue’s appeal.

ITAT Upholds Partial Relief in Rs. 5.31 Lakh Bogus Purchase Dispute, Dismisses Revenue Appeal

The Tribunal held that Section 271B presupposes the existence of books of account which are required to be audited under Section 44AB.

ITAT Quashes Rs. 1.50 Lakh Penalty Where No Books of Account Were Maintained

ITAT dismisses Revenue appeal, allowing assessee to invoke Rule 27 to support favourable CIT(A) order on limitation grounds

ITAT Upholds Deletion of Rs. 1,735 Crore Penalty on Sahara India; Penalty Held Time-Barred

ITAT holds Section 68 conditions satisfied, quashes Section 56(2)(viib) addition, and sets aside CIT(A)’s income enhancement for lack of notice

ITAT Deletes Share Capital & Share Premium Additions; Upholds DCF Valuation and Business Expense Claim

Notifications

Govt has granted income tax exemption to Dadra and Nagar Haveli Building and other Construction Workers Welfare Board u/s 10 of Income-tax Act.

CBDT Notifies Tax Exemption for Dadra and Nagar Haveli Building and other Construction Workers Welfare Board

The ITAT dismissed all four appeals filed by the Revenue and directed the AO to assess the accommodation entry turnover at 0.4%.

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ITAT Upholds Partial Relief in Rs. 5.31 Lakh Bogus Purchase Dispute, Dismisses Revenue Appeal

ITAT Quashes Rs. 1.50 Lakh Penalty Where No Books of Account Were Maintained

ITAT Upholds Deletion of Rs. 1,735 Crore Penalty on Sahara India; Penalty Held Time-Barred

ITAT Deletes Share Capital & Share Premium Additions; Upholds DCF Valuation and Business Expense Claim

CBDT Notifies Tax Exemption for Dadra and Nagar Haveli Building and other Construction Workers Welfare Board

ITAT Upholds Taxation of Only Commission Income in Accommodation Entry Cases; Rejects Revenue's Appeal