Judgement

The ITAT Delhi holds that expenditure not claimed in the Profit & Loss Account cannot be disallowed due to delayed deduction of TDS.



ITAT Rules No Disallowance Under Section 40(a)(ia) if Interest Expense is Capitalised as Work-in-Progress 

ITAT restored Rs 1.90 Crore Section 68 addition case to AO for fresh adjudication, allowing fresh opportunity to submit evidence proving loan genuineness.

ITAT Remands Rs 1.90 Crore Section 68 Unexplained Cash Credit Addition Case, Granting Taxpayer Another Chance to Prove Loan Genuineness

The ITAT condoned a 2,073-day delay in filing the appeal and deleted the Rs 11 lakh cash deposit addition after accepting the taxpayer's explanation.

ITAT Grants Relief to Senior Citizen, Deletes Rs 11 Lakh Cash Deposit Addition

ITAT restored the appeal after holding that the first appellate authority dismissed it without examining the merits of the case.

ITAT Rules CIT(A) Must Decide Appeal on Merits, Not Just Non-Compliance

Articles

CBDT is using AI and data analytics to detect fake tax deductions, prompting taxpayers to correct returns voluntarily.

Claiming Fake Tax Deductions? CBDT's AI System May Already Know

The ITAT Bangalore Sets Aside Assessment and First Appellate Orders in Interest of Justice



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ITAT Rules No Disallowance Under Section 40(a)(ia) if Interest Expense is Capitalised as Work-in-Progress

ITAT Remands Rs 1.90 Crore Section 68 Unexplained Cash Credit Addition Case, Granting Taxpayer Another Chance to Prove Loan Genuineness

ITAT Grants Relief to Senior Citizen, Deletes Rs 11 Lakh Cash Deposit Addition

ITAT Rules CIT(A) Must Decide Appeal on Merits, Not Just Non-Compliance

Claiming Fake Tax Deductions? CBDT's AI System May Already Know

ITAT Remands Addition on Partners' Capital and Unsecured Loans After Accepting Genuine Cause for Non-Appearance