Category: ITAT

Addition u/s 69A deleted as assessee was an employee authorized for replenishment of cash in ATM machines and bank wrongly associated his PAN In a recent judgment, ITAT Agra upheld deletion of addition u/s 69A as assessee was an employee authorized for replenishment of cash in ATM machines …

ITAT set aside addition and remands issue of difference of income with Form 26AS due to Percentage Completion Method followed by the assessee. In a recent judgment, ITAT Ahmedabad has set aside the addition and remanded issue of difference of income declared and as appearing in Form 26AS …

AO was clearly arbitrary so as to reopen assessment against the assessee on a wrong finding of fact and conclusion thereof – ITAT In a recent judgment ITAT Delhi has held that AO was clearly arbitrary so as to reopen assessment against the assessee on a wrong finding …

ITAT upheld disallowance of security guard expenses as deduction from capital gain arising from sale of plot In a recent judgment, the ITAT Jaipur has held that security guard expenses to protect the Plot from trespassing by miscreants claimed by the assessee as deduction towards capital gain was …

Penalty u/s 270A @ 200% upheld for claiming fake deductions under Chapter VIA In a recent judgment, ITAT Pune has upheld penalty u/s 270A @ 200% for levied for claiming fake deductions under Chapter VIA which were later withdrawn on notice. ABCAUS Case Law Citation:4813 (2025) (10) abcaus.in …

Merely because the decision of the High Court followed by Ao was sub-judice before the Supreme Court it would not make the assessment order erroneous. In a recent case, the ITAT Mumbai has held that merely because the decision of the High Court was sub-judice before the Hon’ble …

Deduction of interest on borrowings invested in capital of firm allowed against interest on capital under the head profit and gains from business or professions. In a recent judgment, ITAT Mumbai has allowed deduction of interest on borrowings invested in capital of the firm from which the assessee …

Amendment to section 50C w.e.f. 01.04.2019 was to apply retrospectively w.e.f. 01.04.2003, when the section 50C was brought into statute – ITAT In a recent judgment, ITAT Agra deleted addition made u/s 56(2)(viib) holding that amendment to section 50C brought into the Act by finance Act, 2018 w.e.f. …

Approval u/s 153D has to be granted for each assessment year. A single approval granted for all AYs held as non application of independent mind. In a recent case. The ITAT Delhi quashed a single approval u/s 153D accorded in respect of 14 Assessment Years pertaining to two …

Under presumptive taxation u/s 44AD, assessee could not have maintained sales bills and bank statement, bank balance and gross receipt in terms of explanation (f) of section 139(9) of the Act were sufficient. In a recent judgment, ITAT Bangalore has held that when provisions of presumptive taxation u/s …