Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

Taxpayer Underreports Income by Claiming Inadmissible Expenses: ITAT Confirms Penalty [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961,...

Income Already Disclosed: ITAT Deletes Unexplained Expenses and Stock Valuation Addition [Read...

Stamp Duty Valuation Dispute: ITAT Condones 111-Day Delay in Interest of Fairness, Restores Matter...

ITAT Remits matter back to AO as Assessee was denied Sufficient Time to Respond [Read Order]

₹26.35 Lakh Addition on Cash Deposits during Demonetization: ITAT Orders Deletion [Read Order]

Reassessment Initiated on Incorrect Jurisdiction and Mechanical Approval: ITAT quashes Proceedings [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) quashed the reassessment proceedings initiated under Section 147, citing incorrect jurisdiction and mechanical approval under Section 151 of...

ITAT aside addition of Rs. 26,18,834 & accepts assessee’s Joint Agricultural Income Claim [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an addition of Rs. 26,18,834 made by the assessing officer (AO) noting that agricultural income was jointly earned by...

Unexplained Investment Addition Over Co-Owner's Creditworthiness: ITAT Deletes It After Reassessment [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) deleted the unexplained investment addition of ₹33,92,975 after reassessment, holding that the co-owner's creditworthiness was accepted in her...

CBDT Updates Form 3CD: New Disclosure Rules for MSME Payments, Share Buybacks, and Loans [Read Notification]

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 23/2025 dated 28th March 2025, announcing the Income-tax (Eighth Amendment) Rules, 2025. The...

Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d): ITAT allows deduction of Rs. 35 lakhs [Read Order]

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) held that the interest income that is derived from the cooperative banks is eligible for deduction under Section 80P(2) of the Income Tax...

AO Cannot Initiate Reassessment Proceedings During Pending Rectification Proceedings: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) held that the Assessing Officer(AO) cannot initiate reassessment proceedings under section 148 of Income Tax Act,1961 while rectification...

“Income Chargeable to Tax Means Chargeable Under the Act”: Rajasthan HC Quashes S.148A(d) Order on NRI’s Land Purchase [Read Order]

The Rajasthan High Court recently quashed an order passed under Section 148A(d) of the Income Tax Act, 1961, affirming that foreign income used for purchasing land in India does not automatically...

Prev Page Next Page