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ITAT Excuses 308-Day Filing Lag and Restores CPC Adjustment Appeal
Discover how the Bangalore ITAT condoned a 308-day delay due to pandemic pressures, successfully reviving a taxpayer appeal concerning PF and ESI disallowances.
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ITAT Remands INR 99.38 Lakh Tax Appeal for Section 249(4)(b) Examination
The Mumbai ITAT restores a tax appeal involving an INR 99.38 lakh addition, directing the CIT(A) to first examine compliance under section 249(4)(b).
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Low Income Does Not Equal Low Creditworthiness Under Section 68
Discover why low returned income does not automatically prove lack of creditworthiness under Section 68 based on recent appellate tribunal rulings.
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ITAT Remands ₹2.15 Crore On-Money Addition Pending Developer’s Appeal Findings
Tax authorities recently faced a procedural turning point when the Income Tax Appellate Tribunal (ITAT) set aside a disputed financial addition amounting to ₹2.15 crore. The tribunal ordered a fresh…
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Jodhpur ITAT Rules Penny Stock LTCG Cannot Be Invalidated Without Direct Evidence
In a notable legal development, the Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) has ruled that long-term capital gains (LTCG) from penny stocks cannot be dismissed as bogus…
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Jodhpur ITAT Denies Section 10(23C)(iiiab) Exemption Due to Insufficient Government Grants
The Jodhpur ITAT denied a Section 10 23C iiiab tax exemption because government grants fell below the required threshold for educational institutions.
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BSNL VRS-2019 Compensation Exempt u/s 10(10B) as Retrenchment Pay: ITAT
ITAT Nagpur rules that BSNL VRS 2019 payouts qualify as tax-exempt retrenchment compensation under Section 10 10B. Learn how this impacts your taxes.
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ITAT Deletes ₹8.66 Lakh Section 69A Addition and Rejects 60% Tax Rate for AY 2017-18
Discover how the Hyderabad ITAT deleted a 8.66 lakh tax addition and rejected the steep 60 percent tax rate under Section 115BBE.
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Kerala High Court Sets Aside ITAT Order on Anonymous Donations, Orders Fresh Review
The Kerala High Court recently set aside an Income Tax Appellate Tribunal (ITAT) order concerning anonymous donations, directing authorities to conduct a fresh review of the case. According to official…
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Andhra Pradesh High Court Upholds ITAT Decision on 166-Day Delay
The Andhra Pradesh High Court upheld the ITAT decision to reject a 166-day filing delay, citing the taxpayer's history of ignoring official notices.