Latest Income Tax News, Updates & Judgments

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Relief to Malabar Institute of Medical Sciences: Kerala HC Rules Order U/s 263 as Open Remand Not Needing Independent Challenge [Read Order]

By overturning the Income Tax Appellate Tribunal (ITAT) decision, the Kerala High Court held that the orders made under section 263 of the Income Tax...

Huawei Telecommunications (India) Withdraws ITAT Appeals After Opting for Vivad se Vishwas Scheme...

ITAT quashes Assessment over Lack of Independent Verification in S.153D Approval [Read Order]

No TDS on Withdrawals from Tax-Saving Schemes u/s 80CCA(2)(a) from April 4, 2025: CBDT [Read...

[BREAKING] Income Tax Dept issues Notice to Empuraan Actor-Director Prithviraj Over Past Film...

AO Relied on Bank Account Not Admitted by Taxpayer: ITAT Quashes Rs. 4 Crore Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed an addition of over Rs. 4 crore after observing that the Assessing Officer (AO) had relied on a bank account which was not...

ITAT Upholds Additions for Unexplained Cash Credit and Delayed PF Payments, Grants Partial Relief on Foreign Travel Expenses [Read Order]

The Income Tax Appellate Tribunal, Ahmedabad Bench, had delivered a ruling allowing partial deductions for foreign travel expenses claimed by the appellant while disallowing a portion on the grounds...

CSR Expenditure Eligible for 80G Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai recently delivered a significant ruling, allowing companies to claim deductions under Section 80G for Corporate Social Responsibility (CSR)...

Diamond Cash Sales Duly Recorded in Books: ITAT upholds Deletion of Rs. 1 Cr Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of a Rs. 1 Crore addition under Section 68 of the Income Tax Act, ruling that the Diamond cash sales were duly...

Anil Ambani Withdraws Urgent Hearing Petition in Income Tax Case after Bombay HC Slaps ₹25K Cost for creating ‘Artificial Urgency’ [Read Order]

The Bombay High Court recently imposed a cost of ₹25,000 on industrialist Anil Dhirajlal Ambani for seeking an urgent hearing in a matter concerning a Notice issued by the Income Tax Department. The...

Reassessment u/s 147 on Mere Change of Opinion Invalid: ITAT [Read Order]

In a recent judgement, the Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that reassessment cannot be done based on a mere change of opinion under section 147 of the Income Tax, 1961....

Over 26,000 Income Tax Appeals Filed Electronically via ITAT E-Filing Portal: PIB

The Press Information Bureau (PIB) through a press release stated that the Income Tax Appellate Tribunal (ITAT) has recorded over 26,000 electronic filings of appeals and applications through its...

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