Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

ITAT refuses Estimation of GP Enhancement made by AO without Considering comparable case [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) refused the estimation of Gross Profit (GP) enhancement made by the Assessing Officer...

₹3.80 Lakh Leave Encashment Disallowed u/s 43B:ITAT Rules CPC Had No Jurisdiction and Deletes...

₹5.28 Lakh Penalty u/s 271(1)(c) on One-Time Settlement: ITAT Deletes, Holds It Capital in Nature...

Alleged Bogus Sales and Commission Addition u/s 68 & 69C: ITAT Upholds CIT(A) Deletion after...

Here’s How to Fix a Major Error while Filing ITR-4 Online: “[#/ITAR/ITR4/PersonalInfo/Address/Phone:...

₹7 Crore Share Sale Treated as Unexplained Cash Credit u/s 68: Karnataka HC Upholds ITAT Decision, Finds Transactions Genuine [Read Order]

The High Court of Karnataka, dismissed the Revenue’s appeal and upheld the Income Tax Appellate Tribunal (ITAT) decision, holding that the ₹7 crore share sale treated as unexplained cash credit...

Share Capital from Alleged Shell Companies Accepted as Genuine: ITAT quashes Income Tax Revision u/s 263 [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, set aside the order of the Principal Commissioner of Income Tax (Pr. CIT) passed under Section 263 of theIncome Tax Act, 1961, holding that the...

Subsequent Conversion by Purchaser Does Not Change Character of Agricultural Land Sold by Assessee: ITAT says No Capital Gain Tax Attracted [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, dismissed Revenue’s appeal ruling that subsequent conversion by the purchaser does not change the character of the agricultural land sold...

ITR not yet Processed? Know the Deadline on Department for Processing Income Tax Returns and Refunds

The Income Tax Department has clarified the timeline for processing tax returns (ITRs) and issuing refunds for Assessment Year 2025–26 (FY 2024–25). By law, the I-T department must complete...

Eligibility for S. 80P Deduction Depends on Primary Business of Cooperative Society, Not Incidental Dealings with Non-Members: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the eligibility for deduction under Section 80P must be determined with reference to the primary business activity of the...

CIT(A) Holds Property Sale to Partner’s Son Genuine but Disallowed Indexed Interest Claim: ITAT sets aside Order for Verification [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bangalore Bench, sets aside an order to the income tax department’s Assessing officer for verification of the issue of disallowance of indexed interest ...

AO's Estimation Approach Invalid When Books Accepted: ITAT Deletes Ad Hoc Income Tax Additions on Purchases and Expenses [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai, held that ad hoc income tax additions made on purchases and expenses cannot be sustained in the absence of any defects in the assessee’s audited books...

Prev Page Next Page