![Lack of Approval u/s 153D in Second-Round Assessment: ITAT Upholds CIT(A)Â Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Delhi-Income-tax-Income-Tax-News-Section-153D-Taxscan.jpg "Lack of Approval u/s 153D in Second-Round Assessment: ITAT Upholds CIT(A)Â Order [Read Order]")
Lack of Approval u/s 153D in Second-Round Assessment: ITAT Upholds CIT(A)Â Order [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the order of the Commissioner of Income Tax(Appeals)[CIT(A)], which quashed the...
![Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within Prescribed Limits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within Prescribed Limits: ITAT [Read Order]")
![Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Income-tax-case-on-Agricultural-Land-Transactions-taxscan.jpg "Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]")
![Determination of FMV of Property: ITAT Directs use of DVOs report from Co-Owners Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Determination-of-FMV-FMV-of-Property-ITAT-Directs-Co-Owners-Case-ITAT-Ahmedabad-FMV-taxscan.jpg "Determination of FMV of Property: ITAT Directs use of DVOs report from Co-Owners Case [Read Order]")
![IGST ITC difference of Rs.10.2L in GSTR 3B and 2A: Madras HC grants Final chance to Explain Allegations [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/IGST-ITC-Madras-HC-IGST-News-Input-tax-credit-itc-news-Madras-High-court-news-GSTR-3B-GSTR-3B-taxscan.jpg "IGST ITC difference of Rs.10.2L in GSTR 3B and 2A: Madras HC grants Final chance to Explain Allegations [Read Order]")
ITAT Reinstates Taxpayer's Appeal, Citing lack of proper Notice and Opportunity to be Heard [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Commissioner of Income Tax (Appeals) for fresh adjudication due to the CIT(A)'s failure to provide a proper...
![ITAT Reinstates Taxpayers Appeal, Citing lack of proper Notice and Opportunity to be Heard [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Taxpayers-Appeal-ITAT-Reinstates-Citing-Lack-of-Proper-Notice-Income-Tax-Appellate-Tribunal-Notice-taxscan.jpg "ITAT Reinstates Taxpayers Appeal, Citing lack of proper Notice and Opportunity to be Heard [Read Order]")
Disallowance of ₹3.07 Crores for Contingent Liabilities: ITAT Quashes as Expenses Not Claimed in P&L [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT)quashed the disallowance of ₹3.07 Crores for contingent liabilities, including ₹1.37 Crores for Guaranty and ₹1.71 Crores for Capital...
![Disallowance of ₹3.07 Crores for Contingent Liabilities: ITAT Quashes as Expenses Not Claimed in P&L [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/TAT-Delhi-Income-Tax-Income-Tax-News-Taxscan.jpg "Disallowance of ₹3.07 Crores for Contingent Liabilities: ITAT Quashes as Expenses Not Claimed in P&L [Read Order]")
Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that disallowance under section 14A of the Income Tax Act should be made only on exempt income-yielding investments. The tribunal...
![Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-section-14A-of-the-Income-Tax-Act-income-yielding-investments-taxscan.jpg "Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]")
Income Tax Authorities Crack Down on ₹7,500 crore Tax Evasion in Jaipur’s Luxury Wedding Industry
The Income Tax Department crackdown on huge tax evasion worth Rs. 7,500 crores in Jaipur’s luxury wedding industry. Raids were conducted at over 24 locations targeting well-known wedding planners,...
Collateral-Free Agricultural Loans Up to ₹2 Lakh from 1st Jan 2025: RBI Orders Banks to Publicise
The Reserve Bank of India ( RBI ) has notified that collateral-free agricultural loans will be available up to Rs. 2 lakh for farmers per borrower. The banks were advised to expedite the procedures...
Goods Unloaded at Different Location Instead of Destination Mentioned in E-way bill: Madras HC allows Hearing to Contest Penalty u/s 129 [Read Order]
In the matter of goods unloaded at different locations instead of the destination mentioned in the E-way bill and tax invoice, the Madras High court granted hearing opportunity as requested by the...
Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]
In a recent ruling, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the re-examination of the financial statements of investors regarding the Rs. 27.04 crore share application...
![Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Share-Application-ITAT-Share-Application-Money-ITAT-Directs-Re-Examination-Financial-Statements-Financial-Statements-of-Investors-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Taxscan.jpg "Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]")