![Denial of Rs. 50,000 Basic Deduction u/s 80P(2)(c) to Co-operative Society: ITAT Orders Grant of Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN-2.jpg "Denial of Rs. 50,000 Basic Deduction u/s 80P(2)(c) to Co-operative Society: ITAT Orders Grant of Deduction [Read Order]")
Denial of Rs. 50,000 Basic Deduction u/s 80P(2)(c) to Co-operative Society: ITAT Orders Grant of Deduction [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of the assessee, holding that the Rs. 50,000 basic deduction under...
![Addition of Rs 99.52 Lakh u/s 69 for Unexplained Loans: ITAT Refers Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Unexplained-Loans-section-69-of-Income-Tax-Act-Income-Tax-Appellate-Tribunal-taxscan.jpg "Addition of Rs 99.52 Lakh u/s 69 for Unexplained Loans: ITAT Refers Matter to AO [Read Order]")
![SAIL Mistakenly Availed CENVAT Credit on Same Invoices, Voluntarily Reversed Credit Before SCN: CESTAT Quashes Penalty Citing Absence of Fraud [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CESTAT-CESTAT-Chennai-CENVAT-Credit-Voluntarily-Reversed-Credit-Reversed-Credit-Show-Cause-Notice-taxscan.jpg "SAIL Mistakenly Availed CENVAT Credit on Same Invoices, Voluntarily Reversed Credit Before SCN: CESTAT Quashes Penalty Citing Absence of Fraud [Read Order]")
![CBDT Approves Sri Paripoorna Sanathana Trust for Income Tax Benefits on Scientific Research Contributions [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-Paripoorna-Sanathana-Trust-Sri-Paripoorna-Sanathana-Trust-legal-cases-CBDT-approvesSri-Paripoorna-Sanathana-Trust-TAXSCAN.jpg "CBDT Approves Sri Paripoorna Sanathana Trust for Income Tax Benefits on Scientific Research Contributions [Read Notification]")
AO Must Probe Partner's Creditworthiness, not the Firm's, when Capital Contribution is in Doubt: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT )Â ruled that the Assessing Officer ( AO ) must probe the creditworthiness of the partners, not the firm, when capital contributions are in...
![AO Must Probe Partners Creditworthiness, not the Firms, when Capital Contribution is in Doubt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/AO-Creditworthiness-Capital-Contribution-taxscan.jpg "AO Must Probe Partners Creditworthiness, not the Firms, when Capital Contribution is in Doubt: ITAT [Read Order]")
AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]
The Ranchi Bench of Income Tax Appellate Tribunal (ITAT) remanded the addition of Rs. 89,49,138 under section 69A of the Income Tax Act matter back to the Commissioner of Income Tax (Appeals)...
![AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Section-69A-unexplained-money-Taxpayer-submitted-paper-book-ITAT-Remands-Matter-Assessing-Officer-AO-taxscan.jpg "AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]")
Validity of Cash Deposits as Agricultural Income u/s 68: ITAT Finds Addition Unjustifiable [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT )Â found validity of cash deposits as agricultural income under Section 68 of Income Tax Act,1961 unjustifiable, as the Assessing Officer...
![Validity of Cash Deposits as Agricultural Income u/s 68: ITAT Finds Addition Unjustifiable [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Section-68-of-Income-Tax-Act-Cash-Deposits-as-Agricultural-Income-taxscan.jpg "Validity of Cash Deposits as Agricultural Income u/s 68: ITAT Finds Addition Unjustifiable [Read Order]")
CBIC Revises BCD and AIDC Rates for Various Tariff Items like Luxury, Oils, and Veggies [Read Notification]
The Ministry of Finance issued Notification No. 50/2024-Customs dated December 30, 2024, revising Basic Customs Duty (BCD) and Agriculture Infrastructure and Development Cess (AIDC) rates across...
![CBIC Revises BCD and AIDC Rates for Various Tariff Items like Luxury, Oils, and Veggies [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/customs-duty-1.jpeg "CBIC Revises BCD and AIDC Rates for Various Tariff Items like Luxury, Oils, and Veggies [Read Notification]")
Finance Ministry Changes Madurai Debts Recovery Tribunal Location from Uthangudi to Tallakulam [Read Notification]
The Ministry of Finance issued Notification No. S.O. 5630(E) dated December 30, 2024, announcing the relocation of the Debts Recovery Tribunal, Madurai. As per the official notification, the...
