Upholding a crucial legal principle, the ITAT ruled that where a businesss income is estimated on a percentage-of-turnover ...

The ITAT set aside a Section 69A addition for unexplained cash payments, ruling that the AO must first verify the facts. The case was remanded because the assessee claimed an original allottee made ...

The ITAT set aside the PCIT's revision order, confirming that the sale of an entire residential building floor-by-floor to different buyers still constitutes the sale of one single house property for ...

In a case involving a slum rehabilitation developer who did not file a return or maintain books, ITAT Pune applied a 12% estimated net profit rate on total gross receipts of Rs.1,93,64,405 to compute ...

The Tribunal directed the PCIT to reconsider a u/s 263 order, emphasizing that the PCIT is legally bound to examine and deal with the assessee’s explanations, such as increased sales due to an early ...

This critical ruling confirms the principle that a notice issued to a dead person is legally null and void, even if a legal heir later participates in the assessment. The ITAT emphasized that the ...

The ITAT ruled the entire reassessment void ab initio because the 148 notice, issued after March 29, 2022, was served by the Jurisdictional AO (JAO) instead of the mandatory Faceless AO (FAO).

The ITAT set aside the PCIT's revision order, confirming that the revisional power under Section 263 cannot be invoked merely to conduct a deeper inquiry or change a view previously taken by the AO.

An assessment reopened to tax alleged bogus Long Term Capital Gain (LTCG) was declared void ab initio by the ITAT, strictly applying Section 151. The Tribunal held that statutory sanction cannot be ...

The ITAT Chennai directed the CIT(E) to reconsider a trusts 80G application on merits, ruling it couldnt be rejected mechanically on grounds of delay. The Tribunal held that since the Finance Act, ...

The ITAT Ahmedabad allowed the assessees entire claim for business expenses, deleting a large proportionate disallowance made by the AO and CIT(A). The Tribunal ruled that since the assessee was an ...