Category: ITAT

When property purchased and sold within same year both sale and purchase price has to be adopted by applying same guideline value u/s 50C – ITAT If AO adopts a deemed price u/s 50C, then where property was purchased within same year both sale and purchase price has …

Addition deleted as it was made on the basis of letter of District Magistrate which not recovered during the search In a recent judgment, Allahabad ITAT has deleted addition made on the basis of letter of District Magistrate which had not been recovered during the search and therefore, …

Penalty u/s 270A deleted as AO failed to mention under which clause the case of the assessee fall. In a recent judgment, ITAT Delhi deleted penalty u/s 270A as the Assessing Officer (AO) directly applied the higher penalty percentage provided in Section 270A(9) without mentioning under which clause …

No disallowance u/s 43B can be made if expenditure has not been not claimed by the assessee in Profit and Loss Account In a recent judgment, ITAT Hyderabad has held that if the assessee has not claimed any expenditure in its Profit and Loss Account, then no disallowance …

AO was not justified in making addition by adopting method of extrapolation without bringing any material evidence in support – ITAT In a recent judgment, ITAT Delhi has held that AO was not justified in making addition by adopting the method of extrapolation without bringing any material evidence …

When quantum appeal stands restored to the AO, penalty can not be levied u/s 221(1) of the Income Tax Act for non -payment of the demand. In a recent judgment, Allahabad ITAT has held that when the quantum appeal stands restored to the file of the AO and …

Even if, the assessee is engaged in the bogus purchases, the entire purchases cannot be disallowed – ITAT In a recent judgment, ITAT Guwahati has held that even if, the assessee is engaged in the bogus purchases, the entire purchases cannot be disallowed. ABCAUS Case Law Citation:5076 (2026) …

ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In a recent judgment, ITAT Lucknow allowed benefit of CBDT retrospective notification enhancing the exemption u/s 10(10A) to Rs. 25 lakhs to non-government employees also. ABCAUS Case Law Citation:5074 …

PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical mode or faceless mode – ITAT In a recent judgment, ITAT Delhi has held that the PCIT has revisionary jurisdiction u/s 263 over the cases passed by the …

No addition can be made on the basis of the statement recorded during survey u/s 133A from the husband who was also employee of the assessee. In a recent judgment, ITAT Guwahati has held that addition can not be made on the basis of the statement recorded during …