![Reassessment Notice sent to Tax Consultant’s email ID goes Uninformed to Taxpayer: ITAT remands Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-Reassessment-notice-Tax-Consultants-email-ID-Uninformed-Taxpayer-remands-notice-ITAT-news-ITAT-updates-taxscan.jpg "Reassessment Notice sent to Tax Consultant’s email ID goes Uninformed to Taxpayer: ITAT remands Notice [Read Order]")
Reassessment Notice sent to Tax Consultant’s email ID goes Uninformed to Taxpayer: ITAT remands Notice [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal remanded the Income Tax notice, which was sent to the Email ID of the tax consultant of the...
![FDRs Created as Business Necessity Mandated by PNB for Infrastructure Project Financing: ITAT allows Deduction u/s 80-IA(4) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Income-Tax-TAXSCAN.jpg "FDRs Created as Business Necessity Mandated by PNB for Infrastructure Project Financing: ITAT allows Deduction u/s 80-IA(4) [Read Order]")
![Substitution of Legally Sustainable View taken by AO u/s 263 Revision Proceedings Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Principal-Commissioner-of-Income-Tax-PCIT-Substitution-of-Legally-Section-263-of-the-Income-Tax-Act-TAXSCAN.jpg "Substitution of Legally Sustainable View taken by AO u/s 263 Revision Proceedings Invalid: ITAT [Read Order]")
![Reliance Solely on Investigation Report: ITAT upholds Deletion of ₹1.5Cr Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-Amal-Corporation-ITAT-case-taxscan.jpg "Reliance Solely on Investigation Report: ITAT upholds Deletion of ₹1.5Cr Addition [Read Order]")
![No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Bank-loan-tax-TAXSCAN.webp "No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]")
Failure to show Documentary Evidences on Source of Rs. 96L Cash Deposit: ITAT directs to submit relevant Financials, ITR and Bank Statements before AO [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ), directed the Assessing Officer ( AO ) to reassess cash deposits of almost Rs 1 crore. In this case, the...
![Failure to show Documentary Evidences on Source of Rs. 96L Cash Deposit: ITAT directs to submit relevant Financials, ITR and Bank Statements before AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-cash-deposit-ITR-taxscan-1.jpg "Failure to show Documentary Evidences on Source of Rs. 96L Cash Deposit: ITAT directs to submit relevant Financials, ITR and Bank Statements before AO [Read Order]")
Kerala HC Holds Condonation Application for Delay u/s 119(2)(B) Of Income Tax Act must consider based on Sufficient Reason [Read Order]
In a significant case, the Kerala High Court stated that an application for condonation of delay should focus on whether there was sufficient reason to condone the delay under Section 119(2)(B)...
![Kerala HC Holds Condonation Application for Delay u/s 119(2)(B) Of Income Tax Act must consider based on Sufficient Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Kerala-High-Court-Section-119-TAXSCAN.jpg "Kerala HC Holds Condonation Application for Delay u/s 119(2)(B) Of Income Tax Act must consider based on Sufficient Reason [Read Order]")
AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellatte Tribunal ( ITAT ) allowed the appeal filed by the assessee and deleted the addition made by AO under Section 68 of the Income Tax Act...
![AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AO-Third-Party-Statement-Discrediting-Evidence-ITAT-TAXSCAN.jpg "AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]")
Income from Sale of White Button Mushroom Cultivated Indoors is still “Agricultural Income”, not “Business Income”: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) in Mumbai recently ruled that income from the sale of white button mushrooms cultivated indoors should be classified as "agricultural income" under Section...
![Income from Sale of White Button Mushroom Cultivated Indoors is still “Agricultural Income”, not “Business Income”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Button-mushroom-cultivation-TAXSCAN.jpg "Income from Sale of White Button Mushroom Cultivated Indoors is still “Agricultural Income”, not “Business Income”: ITAT [Read Order]")
Capital Gains arising out of Sale of Long-Term Capital Assets shall be Taxable at Rate of 20% u/s 112 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that capital gains arising from the sale of long-term capital assets shall be taxable at a rate of 20% under Section 112 of the Income...
![Capital Gains arising out of Sale of Long-Term Capital Assets shall be Taxable at Rate of 20% u/s 112 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Capital-Gains-Sale-of-Long-Term-Capital-Assets-Taxable-Rate-112-of-Income-Tax-Act-ITAT-taxscan.jpeg "Capital Gains arising out of Sale of Long-Term Capital Assets shall be Taxable at Rate of 20% u/s 112 of Income Tax Act: ITAT [Read Order]")
Absence of Faceless Assessment envisaged u/s 144B of Income Tax Act Invalidate SCN: Punjab & Haryana HC [Read Order]
In a recent case, the Punjab And Haryana High Court has held that absence of faceless assessment envisaged under section 144B of Income Tax Act, 961 invalidates Show Cause Notice ( SCN ). Vipin...
![Absence of Faceless Assessment envisaged u/s 144B of Income Tax Act Invalidate SCN: Punjab & Haryana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Punjab-and-Haryana-High-Court-Income-Tax-Income-Tax-Act-Section-144B-of-Income-Tax-Act-Faceless-Assessment-Taxscan.jpeg "Absence of Faceless Assessment envisaged u/s 144B of Income Tax Act Invalidate SCN: Punjab & Haryana HC [Read Order]")
Determinate Beneficiaries to be Taxed as “Individual”, Not as “Association Of Persons” at Marginal Rate: ITAT [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) "SMC" Bench in Mumbai, ruled that determinate beneficiaries should be taxed as “Individual” and not as “Association Of Persons” at a...
![Determinate Beneficiaries to be Taxed as “Individual”, Not as “Association Of Persons” at Marginal Rate: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-TAXSCAN-1.jpg "Determinate Beneficiaries to be Taxed as “Individual”, Not as “Association Of Persons” at Marginal Rate: ITAT [Read Order]")