![CBDT Cannot Impose Limitation Period for Compounding through Guidelines when Income Tax Act does not Prescribe One: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/CBDT-compounding-guidelines-Bombay-high-court.jpg "CBDT Cannot Impose Limitation Period for Compounding through Guidelines when Income Tax Act does not Prescribe One: Bombay HC [Read Order]")
CBDT Cannot Impose Limitation Period for Compounding through Guidelines when Income Tax Act does not Prescribe One: Bombay HC [Read Order]
In a recent ruling, the Bombay High Court held that the Central Board of Direct Taxes (CBDT) cannot impose a limitation period for filing compounding...
![SIB Staff Credit Society Wins Appeal: ITAT Directs CIT(A) to Reconsider Deduction Claim u/s 80P [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/SIB-SIB-Staff-Credit-Society-Credit-Society-Wins-Appeal-ITAT-ITAT-Directs-CITA-CITA-to-Reconsider-Deduction-Claim-Deduction-Claim-taxscan.jpg "SIB Staff Credit Society Wins Appeal: ITAT Directs CIT(A) to Reconsider Deduction Claim u/s 80P [Read Order]")
![ITAT Ahmedabad upholds Classification of Interest Income from Employee Loans as Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Ahmedabad-Classification-of-Interest-Income-Interest-Income-Interest-Income-from-Employee-Loans-Employee-Loans-Employee-Loans-as-Business-Income-taxscan.jpg "ITAT Ahmedabad upholds Classification of Interest Income from Employee Loans as Business Income [Read Order]")
![Income Tax Department Releases List of All Banks Enabled for E-Pay Tax Service on E-Filing Portal [Find Complete List Here]](https://www.taxscan.in/wp-content/uploads/2025/03/Income-Tax-Portal.jpg "Income Tax Department Releases List of All Banks Enabled for E-Pay Tax Service on E-Filing Portal [Find Complete List Here]")
![Addition of Unexplained Share Application Money and Expenditure: ITAT Upholds Deletion by CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Money-and-Expenditure.jpg "Addition of Unexplained Share Application Money and Expenditure: ITAT Upholds Deletion by CIT(A) [Read Order]")
Unexplained Investment Addition of ₹96.99 Lakh: ITAT Remands Matter to AO for Fresh Examination [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for fresh examination regarding the addition of ₹96.99 lakh as unexplained investment . ...
![Unexplained Investment Addition of ₹96.99 Lakh: ITAT Remands Matter to AO for Fresh Examination [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/unexplained-investment.jpg "Unexplained Investment Addition of ₹96.99 Lakh: ITAT Remands Matter to AO for Fresh Examination [Read Order]")
![Reassessment without Reasons to Believe: ITAT Restores Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Reassessment.jpg "Reassessment without Reasons to Believe: ITAT Restores Matter to CIT(A) [Read Order]")
Discrepancy in Opening Balance of Furniture and Fittings: ITAT Remands Matter to AO for Verification [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for verification after noting a discrepancy in the opening balance of furniture and...
![Discrepancy in Opening Balance of Furniture and Fittings: ITAT Remands Matter to AO for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/opening-balance.jpg "Discrepancy in Opening Balance of Furniture and Fittings: ITAT Remands Matter to AO for Verification [Read Order]")
Relief to General Electric: Delhi HC Quashes Income Tax Reassessment Noting Lack of Material Evidence and Mere Reliance on Past Surveys [Read Order]
The Delhi High Court has quashed the reassessment proceedings initiated against GE Grid (Switzerland) GmbH, a subsidiary of General Electric (GE), ruling that the Income Tax Department failed to...
![Relief to General Electric: Delhi HC Quashes Income Tax Reassessment Noting Lack of Material Evidence and Mere Reliance on Past Surveys [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Delhi-High-court-Relief-to-General-Electric-Income-Tax-Reassessment-TAXSCAN.jpg "Relief to General Electric: Delhi HC Quashes Income Tax Reassessment Noting Lack of Material Evidence and Mere Reliance on Past Surveys [Read Order]")
AO Denies Immunity from Penalty for Late Filing of Form 28: ITAT Restores Matter as CIT(A) fails to decide on merits [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter, stating that the Commissioner of Income Tax (Appeals) [CIT(A)] failed to decide the immunity application regarding...
![AO Denies Immunity from Penalty for Late Filing of Form 28: ITAT Restores Matter as CIT(A) fails to decide on merits [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Cochin-Form-28-Penalty-for-Late-Filing-of-Form-28-TAXSCAN.jpg "AO Denies Immunity from Penalty for Late Filing of Form 28: ITAT Restores Matter as CIT(A) fails to decide on merits [Read Order]")
Delhi HC Upholds ITAT Order Upholding Income Tax Addition Treating Increase in Share Capital as Sham Transaction [Read Order]
The High Court of Delhi upheld the Income Tax Appellate Tribunal (ITAT) order upholding income tax addition and treating increase in share capital as sham transaction. It was found that the...
![Delhi HC Upholds ITAT Order Upholding Income Tax Addition Treating Increase in Share Capital as Sham Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Share-Capital.jpg "Delhi HC Upholds ITAT Order Upholding Income Tax Addition Treating Increase in Share Capital as Sham Transaction [Read Order]")
![Relief to Axis Bank: ITAT Allows Deduction for Service Tax Expenses u/s 37 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Axix-bank.jpg "Relief to Axis Bank: ITAT Allows Deduction for Service Tax Expenses u/s 37 [Read Order]")