Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

₹90 Lakh Received for Transferring Rights in Land without Registered Title Taxable as Income from Other Sources: ITAT [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that ₹90,00,000 received by the assessee for transferring rights over a...

Deduction u/s 80IA of Income Tax Act must compute Market Value as per rate supplied by State...

Accountant Not Informed About Income Tax Notice: ITAT Restores 12AB and 80G Registration Matter with...

Income Tax Department Releases Excel-Based Utility, Schema, and Validations for ITR-2 and ITR-3...

Calcutta HC upholds ITAT’s Order setting aside income tax reassessment even When all accounts are...

Common Area Maintenance Charges Not Taxable as Rental Income: ITAT Deletes ₹17.08 Lakh Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 17,08,908 made by the Assessing Officer ( AO ) and held that the recovery of Common Area Maintenance ...

Dept Fails to Issue Mandatory Fresh 148A(b) Notice Post Faceless Reassessment Transition: Gujarat HC Quashes as Time-Barred [Read Order]

In a recent ruling, the Gujarat High Court held that a reassessment under the Income Tax Act is invalid if the department fails to issue a fresh notice under Section 148A(b) after the faceless...

Unexplained Cash Credits Taxable Despite Rejected Books: ITAT Upholds ₹6.58 Crore Addition [Read Order]

The Tribunal upheld the addition of Rs. 6.58 crore as unexplained cash credits under Section 68 and ruled that such additions are permissible even when the assessee’s books of accounts are rejected....

Retrospective Amendment Inapplicable: ITAT Allows ₹2.32 Lakh Deduction for Trust’s Accumulated Fund Utilisation [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) and deleted the adjustment made by the Central Processing Centre (CPC), held that the retrospective amendment to Section 11(3) of...

ITAT Upholds Co-op Society’s Tax Exemption, Cites ‘Operational Funds’ to Reject Revenue’s Appeal on Interest Income [Read Order]

The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s appeals and upheld the tax exemption granted to a Co-operative Credit Society under Section 80P of the Income...

Non-Compliance with Fresh Registration Requirement Following J&K Reorganisation: ITAT Rejects S. 12A Registration [Read Order]

The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) has refused to grant registration under section 12A of the Income Tax Act, 1961 and remanded the matter to the Commissioner of Income...

Real Estate Firm Backs Down: ITAT Formally Dismisses Uncontested Tax Appeal [Read Order]

In a brief hearing that concluded without contest, the Income Tax Appellate Tribunal (ITAT), Nagpur Bench, dismissed the appeal filed by real estate company Harmony Homes against the order passed by...

Prev Page Next Page