![Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]](https://images.taxscan.in/h-upload/2025/08/10/500x300_2075264-bonafide-error-bonafide-error-in-claiming-15-depreciation-taxscan.webp "Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]")
Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) held that a bonafide error in claiming 15% depreciation instead of the eligible 7.5%...
![Legal Heir Cannot Be Expected to Explain Unexplained Bank Credits of Deceased: ITAT notes AO fails to Verify Sources, Deletes Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/08/10/250x150_2075254-legal-heir-explain-unexplained-bank-credits-unexplained-bank-credits-taxscan.webp "Legal Heir Cannot Be Expected to Explain Unexplained Bank Credits of Deceased: ITAT notes AO fails to Verify Sources, Deletes Penalty [Read Order]")
![Surcharge on Private Discretionary Trust Income: ITAT Applies 15% Rate as Income Does Not Exceed ₹2 Crores [Read Order]](https://images.taxscan.in/h-upload/2025/08/10/250x150_2075243-surcharge-on-private-discretionary-private-discretionary-taxscan.webp "Surcharge on Private Discretionary Trust Income: ITAT Applies 15% Rate as Income Does Not Exceed ₹2 Crores [Read Order]")
![SBN Deposits Not Unexplained Income: ITAT Deletes ₹ 17.16 Lakh Addition u/s 69A, Holds Demonetization Deposits Valid Until 31.12.2016 [Read Order]](https://images.taxscan.in/h-upload/2025/08/10/250x150_2075225-sbn-deposits-sbn-deposits-not-unexplained-income-taxscan.webp "SBN Deposits Not Unexplained Income: ITAT Deletes ₹ 17.16 Lakh Addition u/s 69A, Holds Demonetization Deposits Valid Until 31.12.2016 [Read Order]")
![Non-Intimation by Tax Practitioner Causes Appeal Delay: ITAT Condones 1249-Day Delay, Quashes Revision u/s 263 Initiated on AOs Proposal [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/250x150_2074942-non-intimation-tax-practitioner-causes-appeal-delay-itat-condones-delay-quashes-revision-us-263-proposal-taxscan.webp "Non-Intimation by Tax Practitioner Causes Appeal Delay: ITAT Condones 1249-Day Delay, Quashes Revision u/s 263 Initiated on AOs Proposal [Read Order]")
Whether JAO Can Issue Income Tax Reassessment Notice after Introduction of Faceless Assessment Scheme: Supreme Court to Decide
The Supreme Court will on 11 August 2025 will admit a case that will settle a growing conflict between on whether a Jurisdictional Assessing Officer (JAO) can issue a reassessment notice after the...
![ITAT Weekly Round-up [August 2nd- August 9th]](https://images.taxscan.in/h-upload/2025/08/09/500x300_2074798-itat-weekly-roundup-taxscan.webp "ITAT Weekly Round-up [August 2nd- August 9th]")
![Wedding Gifts Not Taxable under Income Tax: ITAT deletes ₹10 Lakh Cash Deposit Addition [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/500x300_2074781-wedding-gifts-wedding-gifts-not-taxable-under-income-tax-taxscan.webp "Wedding Gifts Not Taxable under Income Tax: ITAT deletes ₹10 Lakh Cash Deposit Addition [Read Order]")
Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCIT's Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the free of cost equipment of ₹42.89 crore received from group companies was potentially taxable as a perquisite under...
![Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/500x300_2074783-group-compaies-itat-taxscan.webp "Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]")
Centre Notifies Income Tax Exemption for Uttarakhand Pollution Control Board from AY 2025-26 Onwards [Read Notification]
The Central Board of Direct Taxes (CBDT), functioning under the Ministry of Finance has notified income tax exemption for the Uttarakhand Pollution Control Board. The exemption, applicable from the...
![Centre Notifies Income Tax Exemption for Uttarakhand Pollution Control Board from AY 2025-26 Onwards [Read Notification]](https://images.taxscan.in/h-upload/2025/08/08/500x300_2074563-centre-notifies-income-tax-exemption-uttarakhand-pollution-control-board-taxscan.webp "Centre Notifies Income Tax Exemption for Uttarakhand Pollution Control Board from AY 2025-26 Onwards [Read Notification]")