Income Tax Appeal India

Income Tax

ITAT Grants Fresh Opportunity in Section 57(iii) Interest Disallowance Case, Remands Matter for Verification | Biz Flow Kit
Byadmin April 19, 2026

ITAT Grants Fresh Opportunity in Section 57(iii) Interest Disallowance Case, Remands Matter for Verification The ITAT Delhi held that the interest expense disallowance under Section 57(iii) needs proper verification. Since the assessee had relevant documents not submitted earlier, the tribunal remanded the case to the AO, allowing a fresh opportunity. Appeals allowed for statistical purposes….

Read More ITAT Grants Fresh Opportunity in Section 57(iii) Interest Disallowance Case, Remands Matter for Verification | Biz Flow Kit
Income Tax

Missed Section 54 in Initial ITR? ITAT Says You Can Still Claim It During Appellate Proceedings | Biz Flow Kit
Byadmin April 17, 2026

Missed Section 54 in Initial ITR? ITAT Says You Can Still Claim It During Appellate Proceedings ITAT Kolkata, in a recent significant ruling, highlighted that if a taxpayer fails to claim Section 54 exemption both in his/her initial and revised ITR, he/she is still entitled to relief, as such a claim can still be considered…

Read More Missed Section 54 in Initial ITR? ITAT Says You Can Still Claim It During Appellate Proceedings | Biz Flow Kit
Income Tax

ITAT Quashes Unexplained Income Addition | Biz Flow Kit
Byadmin April 12, 2026

Student’s Details Misused by Travel Agent: ITAT Quashes Unexplained Income Addition The ITAT Ahmedabad deletes the Rs 12.11 lakh addition made on the assessee’s income on the grounds of unexplained deposits of about 10 lakh made during the assessment year 2011-12 in the bank account with Dena Bank. The tribunal notes that the assessee’s details…

Read More ITAT Quashes Unexplained Income Addition | Biz Flow Kit
Income Tax

ITAT Upholds Disallowance on Excessive Remuneration paid to partner as no extraordinary work was done by him | Biz Flow Kit
Byadmin April 10, 2026

ITAT Upholds Disallowance on Excessive Remuneration paid to partner as no extraordinary work was done by him The ITAT Ahmedabad dismissed an appeal filed by a partnership firm for the assessment year 2022-23 and sustained the CIT(A)’s ruling, which had partly upheld additions made by the Assessing Officer. The assessee, a partnership firm, had initially…

Read More ITAT Upholds Disallowance on Excessive Remuneration paid to partner as no extraordinary work was done by him | Biz Flow Kit
Income Tax

ITAT Upholds Rs 80 Lakh Addition in Unexplained Cash Credits Case | Biz Flow Kit
Byadmin March 30, 2026

No Evidence, No Relief: ITAT Upholds Rs 80 Lakh Addition in Unexplained Cash Credits Case The ITAT Surat held that mere claims without evidence cannot justify large cash deposits. Unusual cash handling and lack of documentation led to treating deposits as unexplained income, upholding the Rs 80 lakh addition and dismissing the assessee’s appeal. The…

Read More ITAT Upholds Rs 80 Lakh Addition in Unexplained Cash Credits Case | Biz Flow Kit