Judgement

The ITAT Visakhapatnam observed that estimation of profit must be based on the facts of each assessment year and reduced the profit rate from 8% to 5%


ITAT Rules Separate Addition under Section 69A Cannot Survive Once Income is Estimated on Gross Turnover

ITAT remands Section 69C unexplained expenditure case, directing CIT(A) to provide the taxpayer a fresh opportunity to explain credit card expenses before deciding the appeal on merits.

ITAT Remands Section 69C Addition Case, Orders Fresh Opportunity to Taxpayer

The ITAT Delhi has set aside order holding that the appellate authority failed to comply with the specific directions issued by the Delhi High Court


ITAT Sets Aside CIT(A)'s Order for Ignoring Delhi High Court Directions

The ITAT Delhi has held that once the AO has made an inquiry the PCIT cannot invoke Section 263 merely because he considers that more detailed inquiries should have been undertaken.


ITAT Rules Mere inadequacy of Inquiry is not a Ground to Invoke Section 263 

Tribunal grants relief on Section 80-IE, Section 14A, MAT adjustments and Debenture Redemption Reserve.

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

Tribunal condones delayed appeal with costs, remands capital gains and Section 54F claims for reconsideration.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

ITAT Rules Separate Addition under Section 69A Cannot Survive Once Income is Estimated on Gross Turnover

ITAT Remands Section 69C Addition Case, Orders Fresh Opportunity to Taxpayer

ITAT Sets Aside CIT(A)'s Order for Ignoring Delhi High Court Directions

ITAT Rules Mere inadequacy of Inquiry is not a Ground to Invoke Section 263

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

ITAT Condones 433-Day Delay, Restores Section 54F and Capital Gains Issues