Eeva Mary Sanil
![ITAT Quashes Penalty for Non-Compliance to Statutory Notices During COVID-19, Citing Reasonable Cause [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Penalty-COVID-19-Statutory-Notices-taxscan.jpg "ITAT Quashes Penalty for Non-Compliance to Statutory Notices During COVID-19, Citing Reasonable Cause [Read Order]")
ITAT Quashes Penalty for Non-Compliance to Statutory Notices During COVID-19, Citing Reasonable Cause [Read Order]
The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) set aside a penalty proceeding of ₹20,000 levied under section 271(1)(b) of the Income...
![ITAT Remands Case on Section 80P(2)(d) Deduction as AO rejected Claim, Holding SCDCC Bank as Co-operative Bank, not Society [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Co-Operative-Bank.jpg "ITAT Remands Case on Section 80P(2)(d) Deduction as AO rejected Claim, Holding SCDCC Bank as Co-operative Bank, not Society [Read Order]")
![ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-Cash-Deposit-Penalty-Income-Tax-Act-taxscan.jpg "ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act [Read Order]")
![ITAT sets aside PCIT’s Section 263 Order, Holds Bank of Maharashtra’s ₹1137 Crore Deduction for Bad and Doubtful Debts [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Set-PCIT-PCITs-Section-263-Bank-of-Maharashtra-Deduction-for-Bad-and-Doubtful-Debts-Doubtful-Debts-Debts-taxscan.jpg "ITAT sets aside PCIT’s Section 263 Order, Holds Bank of Maharashtra’s ₹1137 Crore Deduction for Bad and Doubtful Debts [Read Order]")
![ITAT Orders Reassessment in ₹1.8 Cr Capital Gains Case, directs AO to Review E-Notices and Deductions u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Orders-Reassessment-Capital-Gains-Case-Capital-Gains-E-Notices-and-Deductions-E-Notices-Section-54-of-Income-Tax-Act-Income-Tax-Act-taxscan.jpg "ITAT Orders Reassessment in ₹1.8 Cr Capital Gains Case, directs AO to Review E-Notices and Deductions u/s 54 of Income Tax Act [Read Order]")
ITAT Deletes ₹1.36Cr Addition as Travel Agent's Demonetization Deposits proved as Business Income [Read Order]
In a recent ruling, the Lucknow Bench of the Income Tax Appellate Tribunal ( ITAT ) overturned a tax demand related to ₹1.36 crores in cash deposits made during the demonetisation period by the...
![ITAT Deletes ₹1.36Cr Addition as Travel Agents Demonetization Deposits proved as Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Lucknow-Income-Tax-Appellate-Tribunal-ITAT-Income-tax-addition-case-TAXSCAN.jpg "ITAT Deletes ₹1.36Cr Addition as Travel Agents Demonetization Deposits proved as Business Income [Read Order]")
![ITAT Weekly Round - Up [Feb 1st-Feb 7th,2025]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Weekly-0-Round-Up-Feb-1st-Feb-7-taxscan.jpg "ITAT Weekly Round - Up [Feb 1st-Feb 7th,2025]")
ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) directed for a fresh examination of cash deposits made during the demonetisation period, asserting that the taxability of such deposits...
![ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Demonetization.jpg "ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]")
ITAT upholds Disallowance of Knitting Charges Under Section 40A(3), allows Set-Off of Carry Forward Losses [Read Order]
In a recent ruling, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) upheld the disallowance of ₹88 Lakhs in knitting charges under Section 40A(3) as cash payments exceeding the...
![ITAT upholds Disallowance of Knitting Charges Under Section 40A(3), allows Set-Off of Carry Forward Losses [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-upholds-Disallowance-of-Knitting-Charges-Disallowance-Knitting-Charges-Under-Section-40A3-Set-Off-of-Carry-Forward-Losses-Carry-Forward-Losses-taxscan-1.jpg "ITAT upholds Disallowance of Knitting Charges Under Section 40A(3), allows Set-Off of Carry Forward Losses [Read Order]")
Less Tax, more Cashflow: Nirmala Sitaraman replies to question on Tax Collection after Corporate Tax cuts in Lok Sabha
Minister of Parliament Shri Bhartuhari Mahtab and Balabhadra Majhi asked the Union Minister of Finance four questions about tax collection after reducing corporate tax rates. They wondered whether...
Advance Payment Not Unexplained Credit: ITAT Deletes ₹2 Cr Addition u/s 68 of Income Tax Act [Read Order]
In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal put forth by the revenue, deleting a ₹2 Crore addition made under the provisions of Section 68 of...
![Advance Payment Not Unexplained Credit: ITAT Deletes ₹2 Cr Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Advance-Payment-Unexplained-Credit-Not-Unexplained-Credit-ITAT-Income-Tax-Act-Section-68-of-Income-Tax-Act-Income-Tax-taxscan.jpg "Advance Payment Not Unexplained Credit: ITAT Deletes ₹2 Cr Addition u/s 68 of Income Tax Act [Read Order]")
₹19.5 Lakh Unexplained Cash Credit u/s 68 & 69 of Income Tax Act: ITAT Remands Case for Reassessment [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) remanded a recent case back to the Commissioner of Income Tax (Appeals)[CIT(A)] based on improper fact adjudication and the authority's...
![₹19.5 Lakh Unexplained Cash Credit u/s 68 & 69 of Income Tax Act: ITAT Remands Case for Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-Cash-Credit-68-69-Income-Tax-Act-ITAT-Case-Reassessment.jpg "₹19.5 Lakh Unexplained Cash Credit u/s 68 & 69 of Income Tax Act: ITAT Remands Case for Reassessment [Read Order]")