Exclusive Supply Agreement Does Not Establish Creditor-Debtor Relationship Under IBC: NCLT [Read Order]
In accordance with Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), the National Company Law Tribunal (NCLT), located in Delhi, has ruled...
![CESTAT Upholds Rs. 9.56 Crore Excise Demand due to Fraudulent Refund Claims and Cenvat Credit Misuse [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/CESTAT-Excise-Demand-Fraudulent-Refund-Claims-and-Cenvat-Credit-Misuse-TAXSCAN.jpg "CESTAT Upholds Rs. 9.56 Crore Excise Demand due to Fraudulent Refund Claims and Cenvat Credit Misuse [Read Order]")
![Pre-CIRP Electricity Dues Expires on Approval of Resolution Plan under IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Pre-CIRP-Electricity-Dues-Expires-Approval-Resolution-Plan-under-IBC-NCLAT-TAXSCAN.jpg "Pre-CIRP Electricity Dues Expires on Approval of Resolution Plan under IBC: NCLAT [Read Order]")
![ITAT Upholds Rs. 4.64 Crore addition U/s 69A due to Assessee’s Failure to Explain & lack of cooperation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Upholds-cooperation-ITAT-Ahmedabad-Commissioner-of-Income-Tax-CIT-Income-Tax-Act-high-value-transactions-ITAT-news-income-tax-news-ITAT-india-Taxscan.jpg "ITAT Upholds Rs. 4.64 Crore addition U/s 69A due to Assessee’s Failure to Explain & lack of cooperation [Read Order]")
ITAT Upholds CIT(A)'s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete the addition of ₹3.24 crore under Section 68 of Income Tax Act,...
![ITAT Upholds CIT(A)s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]](https://images.taxscan.in/h-upload/2025/06/03/500x300_2041092-itat-delhi-deletion-of-324-crore-cash-sales-addition-taxscan.webp "ITAT Upholds CIT(A)s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act [Read Order]")
S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) ruled that Section 145(3) of the Income Tax Act, 1961, cannot be invoked without identifying specific defects in the books of accounts and...
![S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Defects-in-Books-of-Account-1.jpg "S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [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 Tax Act. The penalty was imposed for non-compliance...
![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 Remands Case on Section 80P(2)(d) Deduction as AO rejected Claim, Holding SCDCC Bank as Co-operative Bank, not Society [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded the case back to AO to reconsider his decision of rejecting the deduction claim made by the assessee under Section 80P(2)(d)...
![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]")
![CESTAT Weekly Round-Up [Feb 09 to Feb 14, 2025]](https://www.taxscan.in/wp-content/uploads/2025/02/cestat-Weekly-Round-Up-TAXSCAN.jpeg "CESTAT Weekly Round-Up [Feb 09 to Feb 14, 2025]")
![Relief to Maruti Suzuki: CESTAT Rules Education Cess should be calculated on Net Service Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/maruti-suzuki-site-img.jpg "Relief to Maruti Suzuki: CESTAT Rules Education Cess should be calculated on Net Service Tax [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]
The Surat bench of the Income Tax Appellate Tribunal ( ITAT ) reduced an addition on unexplained cash deposits to 25% concerning the assessment years 2011-12 and 2013-14. The assessee, Bajrangbali...
![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]")