Over 26,000 Income Tax Appeals Filed Electronically via ITAT E-Filing Portal: PIB
The Press Information Bureau (PIB) through a press release stated that the Income Tax Appellate Tribunal (ITAT) has recorded over 26,000 electronic...
![Disallowance of Depreciation on Goodwill: ITAT Upholds Claim as Intangible Asset Eligible u/s 32 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ruling-Depreciation-on-goodwill-Goodwill-as-intangible-asset-taxscan-.jpg "Disallowance of Depreciation on Goodwill: ITAT Upholds Claim as Intangible Asset Eligible u/s 32 [Read Order]")
Creditor Not Required to Prove Financial Capacity to Extend Loan: Supreme Court Slaps ₹32 Lakh Fine on Defaulter in S.138 NI Act Case [Read Order]
In a notable ruling, the Supreme Court of India has held that a creditor is not required to prove their financial capacity at the outset to establish a legally enforceable debt under Section 138 of...
![Creditor Not Required to Prove Financial Capacity to Extend Loan: Supreme Court Slaps ₹32 Lakh Fine on Defaulter in S.138 NI Act Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Creditor-Not-Required-Prove-Financial-Capacity-Financial-Capacity-Financial-Capacity-to-Extend-Loan-Extend-Loan-Supreme-Court-taxscan.jpg "Creditor Not Required to Prove Financial Capacity to Extend Loan: Supreme Court Slaps ₹32 Lakh Fine on Defaulter in S.138 NI Act Case [Read Order]")
Disallowance of Interest on Loan for Share Acquisition: ITAT Upholds Deduction as Business Expense [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal(ITAT) upheld the deduction of interest on a loan taken for share acquisition, recognizing it as a business expense. The Revenue-appellant...
![Disallowance of Interest on Loan for Share Acquisition: ITAT Upholds Deduction as Business Expense [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Business-Expenses-.jpg "Disallowance of Interest on Loan for Share Acquisition: ITAT Upholds Deduction as Business Expense [Read Order]")
Mechanical Approval u/s 153D: ITAT quashes Assessment for Lack of Application of Mind [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) quashed the assessment, holding that the approval under Section 153D of Income Tax Act,1961 was granted mechanically without due application of...
![Mechanical Approval u/s 153D: ITAT quashes Assessment for Lack of Application of Mind [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Mechanical-ITAT-Assessment-Application-of-Mind-taxscan.jpg "Mechanical Approval u/s 153D: ITAT quashes Assessment for Lack of Application of Mind [Read Order]")
Natural Justice Prevails: ITAT Grants Assessee Fresh Hearing Opportunity Subject to Rs. 2,000 Cost Payment [Read Order]
The Panaji Bench of the Income Tax Appellate Tribunal (ITAT), upheld the principles of natural justice by providing the assessee with another opportunity to present their case before the Commissioner...
![Natural Justice Prevails: ITAT Grants Assessee Fresh Hearing Opportunity Subject to Rs. 2,000 Cost Payment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ruling-Natural-justice-Income-Tax-appeal-taxscan.jpg "Natural Justice Prevails: ITAT Grants Assessee Fresh Hearing Opportunity Subject to Rs. 2,000 Cost Payment [Read Order]")
Wrong Clause Selection Not Fatal to Proceedings': ITAT Grants Fresh Opportunity for 12AA Registration [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that the inadvertent selection of an incorrect clause in an application for registration under Section 12AA of the Income Tax Act,...
![Wrong Clause Selection Not Fatal to Proceedings: ITAT Grants Fresh Opportunity for 12AA Registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Wrong-Clause-Wrong-Clause-Selection-Not-Fatal-to-Proceedings-ITAT-ITAT-Grants-Fresh-Opportunity-Section-12AA-Registration-taxscan.jpg "Wrong Clause Selection Not Fatal to Proceedings: ITAT Grants Fresh Opportunity for 12AA Registration [Read Order]")
ITAT Admits Additional Evidence, Remands Rs. 17 Lakh Unsecured Loan Case to AO for Fresh Assessment [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT), set aside an appeal order and remanded the case back to the Assessing Officer (AO) for fresh assessment, admitting additional...
![ITAT Admits Additional Evidence, Remands Rs. 17 Lakh Unsecured Loan Case to AO for Fresh Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ITAT-Admits-Additional-Evidence-Evidence-Unsecured-Loan-Unsecured-Loan-Case-AO-for-Fresh-Assessment-Fresh-Assessment-taxscan.jpg "ITAT Admits Additional Evidence, Remands Rs. 17 Lakh Unsecured Loan Case to AO for Fresh Assessment [Read Order]")