Category: ITAT

Once Tonnage Tax Scheme is opted, no set off against any deduction allowed – ITAT  In a recent judgment, ITAT Hyderabad has held that once the assessee opts for a Tonnage Tax Scheme, then Tonnage income cannot be set off against any deduction provided under the Act. ABCAUS …

Addition for unexplained expenditure incurred on election on candidates of Aam Aadmi Party confirmed by ITAT In a recent judgment, ITAT Delhi has upheld the addition for unexplained expenditure incurred on election on candidates of Aam Aadmi Party (AAP). ABCAUS Case Law Citation:ABCAUS 4128 (2024) (07) ITAT In …

ITAT set aside order as no opportunity was allowed to assessee to explain the delay in filing appeal In a recent judgment, the ITAT Ahmedabad set aside order as no opportunity was allowed by the CIT(A) to the assessee to explain the reason of delay nor was he …

Addition u/s 40A(3) for cash payment to labour for loading charges deleted by ITAT In a recent judgment, the ITAT Cuttack has deleted additions u/s 40A(3) for cash payments to labourers for loading charges holding that labourers out of common knowledge would not accept payments through banking channels …

Addition u/s 68 deleted as AO failed to find any discrepancy in details of creditors submitted by the assessee In a recent judgment, the ITAT Guwahati deleted penalty u/s 68 as the Assessing Officer (AO) failed to find any discrepancy in the details of creditors submitted. ABCAUS Case …

Book Profit u/s 115JB to be computed as per Profit & Loss Account prepared under Schedule III of the Companies Act, not on profit arrived on cash basis of accounting  In a recent judgment, the ITAT Delhi has held that book profit u/s 115JB is to be computed …

Order not in conformity of Faceless Assessment Scheme 2019 if not est? – ITAT remands the case in view of amendment to section 144B In a recent judgment, the ITAT Indore has remanded the case to the file of Assessing Officer (AO) the challenge to validity of assessment …

Provisions of section 68 to 69B applicable only if assessee is required to maintain books of accounts under provisions of section 44AA of the Income Tax Act, 1961. In a recent judgment, the ITAT Jabalpur has held that provisions of section 68 to 69B of the Income Tax …

AO converted limited scrutiny into complete scrutiny without obtaining permission and in violation of CBDT Instruction – ITAT quashed Assessment order.  In a recent judgment, ITAT Delhi has quashed the assessment order because the Assessing Officer (AO) converted limited scrutiny into complete scrutiny without obtaining permission and in …

No Addition can be made on the basis of suspicion for cash seized at the time of Assembly Election In a recent judgment, ITAT Lucknow has deleted addition u/s 69A holding that no Addition can be made on the basis of suspicion for cash seized at the time …