![AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080411-ao-municipal-rateable-fair-rent-independently-income-tax-act-bombay-hc-taxscan.webp "AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]")
AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]
In a recent ruling, the Bombay High Court held that the Assessing Officer is not bound to accept the municipal rateable value while determining the...
![Six Months Custody or Trial Delay not Sufficient Ground for Bail in Economic Offences under PMLA: Jharkhand HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080413-pmla-economic-offence-taxscan.webp "Six Months Custody or Trial Delay not Sufficient Ground for Bail in Economic Offences under PMLA: Jharkhand HC [Read Order]")
![Public Listed Companies need not to Prove Source of Source of Share Capital u/s 68: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080309-public-listed-companies-source-share-capital-itat-taxscan.webp "Public Listed Companies need not to Prove Source of Source of Share Capital u/s 68: ITAT [Read Order]")
Individual Fails to Prove Cash Deposits as Land Sale Proceeds by Father: ITAT remits Matter back on Interest of Justice [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remitted the matter of addition on cash deposits to the Commissioner of Income Tax (Appeals)[CIT(A)] for verifying the genuineness of...
![Individual Fails to Prove Cash Deposits as Land Sale Proceeds by Father: ITAT remits Matter back on Interest of Justice [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080336-cash-deposit-taxscan.webp "Individual Fails to Prove Cash Deposits as Land Sale Proceeds by Father: ITAT remits Matter back on Interest of Justice [Read Order]")
S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]
In a recent ruling, the Madras High Court held that Section 263 of theIncome Tax Act, 1961 can be invoked only in cases of “lack of inquiry” and not merely for “inadequate inquiry.” Arul...
![S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080369-income-tax-act-lack-of-inquiry-madras-hc-taxscan.webp "S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]")
Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]
The Lucknow Bench of the Income Tax Appellate Tribunal ( ITAT ) recently ruled that the charitable institution is free to use the accumulated income up to 5years without prior exhaustion of the...
![Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080317-charitable-institution-accumulated-income-itat-taxscan.webp "Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]")
ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]
The Amritsar Bench of Income Tax Appellate Tribunal ( ITAT )allows the appeal of the assessee and deletes the penalty of ₹96,010 on an alleged bogus brick payment after the department confirms no...
![ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080310-itat-deletes-penalty-taxscan.webp "ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]")
Denying Property Tax Exemption to Unaided Schools Not Violative of Art. 14 of Indian Constitution: Kerala HC [Read Order]
The Kerala High Court ruled that denying property tax exemption to Unaided Schools is not violative of Article 14 of Indian Constitution. The petitioners/assessee are unaided schools or the...
![Denying Property Tax Exemption to Unaided Schools Not Violative of Art. 14 of Indian Constitution: Kerala HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080356-cbic-gst-government-schools-ducational-boards-exempted-taxscan.webp "Denying Property Tax Exemption to Unaided Schools Not Violative of Art. 14 of Indian Constitution: Kerala HC [Read Order]")
Rajasthan HC Upholds Insertion of New ‘Sleeper Bus’ Tax Category in State Motor Vehicle Tax Rules [Read Order]
In a recent ruling, the Rajasthan High Court upheld the State Government’s authority to insert a new category of “Sleeper Bus” for the purpose of motor vehicle taxation and quashed demand notices...
![Rajasthan HC Upholds Insertion of New ‘Sleeper Bus’ Tax Category in State Motor Vehicle Tax Rules [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080348-rajasthan-hc-sleeper-bus-tax-motor-vehicle-tax-rajasthan.webp "Rajasthan HC Upholds Insertion of New ‘Sleeper Bus’ Tax Category in State Motor Vehicle Tax Rules [Read Order]")
ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance of ₹27,92,370/- made by the Assessing Officer (AO) without undertaking an independent inquiry under Section...
![ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080298-disallowance-not-applicable-payment-account-payee-cheque-account-payee-dd-itat-taxscan.webp "ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]")