The Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of 5 crore, citing the absence of corroborative evidence to prove that the taxpayer had indeed made any payment of Rs. 5 crores.

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted unexplained credits under Section 68 of the Income Tax Act, 1961, as it found the deposit transactions by the Assessee Company to

The Madras High Court has rendered a verdict remanding income tax reassessment and penalty orders, highlighting a critical deficiency in the participation of the petitioner. The case revolves around two writ petitions filed by Vijayakumar,

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of the taxpayer, deleting an addition of 28 lakhs after the taxpayer successfully substantiated the source of a cash deposit with sufficient

A Division bench of the Bombay High Court held that the notice for reopening of assessment is  invalid on mere belief of escapement of income when the deduction under Section 80JJAA had been consistently allowed

The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) quashed service tax demand and held that the technical assistance for manufacture of aircraft and engines is not IPR-Services. The

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal ( ITAT ) reported at Taxscan.in during the previous week from April 13 to April 20 ITAT Directs Readjudication with

The Rajkot bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the addition of income as 'undisclosed income' at the hands of the husband, citing that the income was already declared by

The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 69 of the Income Tax Act, 1961 citing the surrender of additional professional income to cover the

A Division Bench of the Delhi High Court recently held that photocopy of an agreement to sell cannot be construed to be a sustainable ground for making addition to the income of the assessee. The

In recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 68 of Income Tax Act as genuineness of purchase and sale of shares is proven by

The Chandigarh Income Tax Appellate Tribunal ( ITAT ) held that investment in construction of hospital buildings made out from the professional receipts are computed under head business income. The Assessee Aniljit Singh Arora is

The Supreme Court of India directed the accused to appear for further trial for Prevention of Money Laundering Act, 2002 ( PMLA ) against the false declaration under IDS to commit fraud of 8.26 crore. The

In recent years, the online gaming industry in India has witnessed remarkable growth, projected to reach $5 billion by 2025 with a compound annual growth rate of 28-30%. However, a recent decision by the GST

The Central Board of Direct Taxes ( CBDT ) released a Circular, No. 5/2024 dated March 15, 2024, under Section 268A of the Income-tax Act, 1961, outlining guidelines for the Department’s appeal filings before the