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[BREAKING] New Income Tax Bill 2025 Out Now, set to be Tabled Soon [Read Bill PDF]

Manu Sharma

The New Income Tax Bill, set to be tabled at the Lok Sabha by the Union Finance Minister Nirmala Sitharaman is out now. This is set to replace the...

ITAT Upholds Tax Exemption for Trust, Citing Consistency in Previous Assessments [Read Order]

ITAT Grants Section 80IA Deduction, Recognizes Infrastructure Development Role [Read Order]

ITAT remands Case Back to AO Due to Lack of Proper Inquiry [Read Order]

CBDT Approves Bhaikaka University for Income Tax Benefits on Scientific Research [Read Notification]

ITAT Quashes Reassessment as AO Fails to Address Objections in Proceedings [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment proceedings because the Assessing Officer (AO) failed to address the assessee's objections during the...

Lack of proper inquiry on Unexplained Cash Deposits during Demonetization: ITAT restores matter [Read Order]

The Agra Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter back to the Commissioner of Income Tax ( Appeals ) [CIT(A)] due to the lack of proper inquiry regarding unexplained cash...

ITAT Rules Abandoned IPO Expenses as Revenue in Nature, Deletes Disallowance u/s 37(1) [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that expenses incurred on an abandoned Initial Public Offering (IPO) are revenue in nature and directed the deletion of the...

ITAT Weekly Round - Up [Feb 1st-Feb 7th,2025]

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week from February 1st to February 7th. ...

ITAT Jaipur quashes Section 263 Order Due to Violation of Natural Justice [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Jaipur has ruled in favor of the appellant, setting aside the Principal Commissioner of Income Tax ( PCIT )’s order under Section 263...

ITAT Quashes Tax Additions due to Lack of Incriminating Evidence [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Delhi Bench ruled in favor of the appellant by deleting the tax additions made under Section 153A of the Income Tax Act, 1961. The tribunal held that the...

CIT(A) Ex-Parte Adding Rs. 12,06,189 as Undisclosed Income: ITAT directs Fresh Hearing [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) directed a fresh hearing in which the Commissioner of Income Tax (Appeals) [CIT(A)] had earlier dismissed the appeal ex-parte with an addition...

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