![Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Credit-Card-payment-Income-Source-attracts-S-69A-Addition-ITAT-upholds-TAXSCAN.jpg "Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]")
Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]
In a recent decision, the Surat bench of the Income Tax Appellate Tribunal ( ITAT ) held that credit card payment without showing income source...
![PCIT Cannot Substitute AOs View in 263 Proceedings Unless AOs Decision Wholly Unsustainable in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/PCIT-PCIT-Cannot-Substitute-AOs-View-ITAT-Decision-Wholly-Unsustainable-in-Law-Ahmedabad-Bench-of-Income-Tax-Appellate-Tribunal-reassessment-The-two-member-bench-Taxscan.jpg "PCIT Cannot Substitute AOs View in 263 Proceedings Unless AOs Decision Wholly Unsustainable in Law: ITAT [Read Order]")
![Eligibility for S.80P(2)(d) Deduction on Interest Income from Cooperative Banks: ITAT Upholds CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-news-Cooperative-Banks-Deduction-on-Interest-Section-80P2d-Taxscan.jpg "Eligibility for S.80P(2)(d) Deduction on Interest Income from Cooperative Banks: ITAT Upholds CIT(A) Order [Read Order]")
![S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Section-263-of-the-Income-Tax-Act-Borrowed-Satisfaction-Income-Tax-Section-263-taxscan.jpg "S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]")
Interest from FDRs Exempt as Part of Corpus Fund u/s 11(1)(d): ITAT Remands Matter to AO [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) to review the non-taxability of interest from Fixed Deposit Receipts (FDRs) as part of the...
![Interest from FDRs Exempt as Part of Corpus Fund u/s 11(1)(d): ITAT Remands Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-FDRs-Corpus-Fund-Assesment-Officer-Remands-Matter-to-AO-Section-111d-taxscan.jpg "Interest from FDRs Exempt as Part of Corpus Fund u/s 11(1)(d): ITAT Remands Matter to AO [Read Order]")
Non-Compliance Due to Notice for Seven AYs Issued in Short Period: ITAT Deletes 6 Penalties, Upholds Only One [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) deleted penalties levied on seven assessment years due to non-compliance citing all notices served in a short period and upheld only one...
![Non-Compliance Due to Notice for Seven AYs Issued in Short Period: ITAT Deletes 6 Penalties, Upholds Only One [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Non-Compliance-6-Penalties-Seven-AYs-ITAT-Deletes-ITAT-Surat-year-penalty-Short-Period-taxscan.jpg "Non-Compliance Due to Notice for Seven AYs Issued in Short Period: ITAT Deletes 6 Penalties, Upholds Only One [Read Order]")
![Addition of ₹51.76 Lakh as Unexplained Investment: ITAT Remands Case to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Unexplained-Investment-CITA-Taxscan.jpg "Addition of ₹51.76 Lakh as Unexplained Investment: ITAT Remands Case to CIT(A) [Read Order]")
Notice to Merged Entity Void ab intio: ITAT strikes down Income Tax Reassessment u/s 148 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) struck down a reassessment proceeding initiated against a non-existent company, declaring it void ab initio and had no legal validity. ...
![Notice to Merged Entity Void ab intio: ITAT strikes down Income Tax Reassessment u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-ncome-Tax-Reassessment-Taxscan.jpg "Notice to Merged Entity Void ab intio: ITAT strikes down Income Tax Reassessment u/s 148 [Read Order]")
Taxpayer's Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]
In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ), in an appeal filed by the assessee against the order of the Commissioner of Income Tax ( Appeals ) [ CIT (A) ] under...
![Taxpayers Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Taxpayers-Claim-Bad-Debt-Deduction-ITAT-mumbai-taxscan.jpg "Taxpayers Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]")
![Three-Day Delay in Filing Appeal During COVID Period: ITAT Sets Aside CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Delay-in-Filing-Appeal-CITA-Income-Tax-Appellate-Tribunal-Filing-Appeal-COVID-Period-taxscan.jpg "Three-Day Delay in Filing Appeal During COVID Period: ITAT Sets Aside CIT(A) Order [Read Order]")