Judgement

The ITAT Ahmedabad held PCIT validly invoked Section 263 after DVO report revealed undervaluation affecting capital gains.

ITAT Upholds Section 263 Revision Based on DVO Report Received After Assessment

The ITAT Ahmedabad held that the penalty cannot survive once the assessment forming its basis is set aside.

ITAT Quashes Section 271(1)(c) Penalty After Original Assessment Was Set Aside

Ahmedabad ITAT held entire purchases cannot be disallowed when sales are accepted and deleted unsecured loan addition.

ITAT Restricts Bogus Purchase Addition to Profit Element, Deletes Loan Addition

The ITAT upheld the validity of reassessment under Section 148 but restricted the addition on an alleged accommodation entry to 5%.

ITAT Upholds Section 148 Reopening But Restricts Rs 30 Lakh Accommodation Entry Addition To 5%, Cites Double Taxation

ITAT condoned a nearly 1,800-day delay in filing income tax appeals by an ex-army veteran, restoring the matters to the CIT(A) for decision on merits.

ITAT Gives Relief to Ex-Army Veteran, Allows Delayed Tax Appeals to Be Heard on Merits

The ITAT Delhi has deleted an addition of Rs 3.92 crore made under Section 69C read with Section 115BBE on account of alleged bogus purchases.

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ITAT Upholds Section 263 Revision Based on DVO Report Received After Assessment

ITAT Quashes Section 271(1)(c) Penalty After Original Assessment Was Set Aside

ITAT Restricts Bogus Purchase Addition to Profit Element, Deletes Loan Addition

ITAT Upholds Section 148 Reopening But Restricts Rs 30 Lakh Accommodation Entry Addition To 5%, Cites Double Taxation

ITAT Gives Relief to Ex-Army Veteran, Allows Delayed Tax Appeals to Be Heard on Merits

ITAT Rules Mere Doubt Over Supplier's Identity Cannot Override Invoices, E-Way Bills, Bank Records and GST Evidence