![Income Tax Bill 2025: New Changes in Profits and Gains of Business and Profession [Read Bill]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-Tax-Bill-Income-Tax-Bill-2025-New-Changes-in-Profits-and-Gains-Profits-and-Gains-taxscan.jpg "Income Tax Bill 2025: New Changes in Profits and Gains of Business and Profession [Read Bill]")
Income Tax Bill 2025: New Changes in Profits and Gains of Business and Profession [Read Bill]
The new Income Tax Bill 2025 introduced huge reforms in the chapter on profits and gains of business and profession. These changes aim to simplify...
![CBDT Amends Income Tax Rules 12CA & 12CC: New Due Dates for Statements on Income Distribution by Business & Securitisation Trusts [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/02/CBDT-Income-Tax-Rules-12CA-12CC-New-Due-Dates-Statements-Income-Distribution-Business-Securitisation-Trusts-taxscan.jpg "CBDT Amends Income Tax Rules 12CA & 12CC: New Due Dates for Statements on Income Distribution by Business & Securitisation Trusts [Read Notification]")
![Relief to Saibaba NGO from Natural Justice Violation as ITAT remands S.80G Trust Registration for Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Pune-Saibaba-NGO-tax-case-Relief-to-Saibaba-NGO-Natural-Justice-Violation-TAXSCAN.jpg "Relief to Saibaba NGO from Natural Justice Violation as ITAT remands S.80G Trust Registration for Fresh Adjudication [Read Order]")
![ITAT Directs Deletion of Rs 28.57 Lakh Addition, Says AO Failed to Follow Due Process [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Directs-AO-ITAT-taxscan.jpg "ITAT Directs Deletion of Rs 28.57 Lakh Addition, Says AO Failed to Follow Due Process [Read Order]")
![CBDT issues Guidance Circular on Application of Principal Purpose Tests Under DTAA [Read Circular]](https://www.taxscan.in/wp-content/uploads/2025/01/CBDT-Central-Board-of-Direct-Taxes-DTAA-Application-of-Principal-Purpose-CBDT-issues-Guidance-taxscan.jpg "CBDT issues Guidance Circular on Application of Principal Purpose Tests Under DTAA [Read Circular]")
Continuous Absence of Assessee during Income Tax Appeal Proceedings: ITAT dismisses Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has dismissed the appeal filed by Somnath Kelavni Mandal, a trust managing educational institution, due to non-prosecution and continuous...
![Continuous Absence of Assessee during Income Tax Appeal Proceedings: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Ahmedabad-Income-Tax-Appeal-Income-Tax-Income-tax-updates-TAXSCAN.jpg "Continuous Absence of Assessee during Income Tax Appeal Proceedings: ITAT dismisses Appeal [Read Order]")
Rs. 54.70 Lacs Addition for Cash Deposits During Demonetization: ITAT Grants Another Opportunity with Cost [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal(ITAT) granted another opportunity to the assessee to substantiate cash deposits of Rs. 54.70 Lakh made during the demonetization period, subject to...
![Rs. 54.70 Lacs Addition for Cash Deposits During Demonetization: ITAT Grants Another Opportunity with Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Demonetize.jpg "Rs. 54.70 Lacs Addition for Cash Deposits During Demonetization: ITAT Grants Another Opportunity with Cost [Read Order]")
![S. 14A Income Tax Explanation Provisions are not Retrospective: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Section-14A-Income-Tax-Income-Tax-Income-Tax-Explanation-Explanation-Provisions-Explanation-Provisions-are-not-Retrospective-ITAT-taxscan.jpg "S. 14A Income Tax Explanation Provisions are not Retrospective: ITAT [Read Order]")
No Addition to be Made u/s 14A r.w.r. 8D, Income Tax when No Exempt Income Earned by Assessee: ITAT [Read Order]
In a recent decision, the Income Tax Appellate Tribunal ( ITAT ), Visakhapatnam Bench, has ruled that no addition can be made under Section 14A read with Rule 8D when an assessee has not earned any...
![No Addition to be Made u/s 14A r.w.r. 8D, Income Tax when No Exempt Income Earned by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Income-Tax-Income-tax-exemption-taxscan.jpg "No Addition to be Made u/s 14A r.w.r. 8D, Income Tax when No Exempt Income Earned by Assessee: ITAT [Read Order]")
ITAT backs CIT(A) order Deleting ₹1.2 Crore Income Tax Penalty on Ship-Breaker for Lack of Alleged International Transactions Documents [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) recently upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)] to delete a ₹1.2 crore penalty imposed on a...
![ITAT backs CIT(A) order Deleting ₹1.2 Crore Income Tax Penalty on Ship-Breaker for Lack of Alleged International Transactions Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-CITA-order-Deleting-ITAT-backs-CITA-order-Deleting-Income-Tax-Penalty-Income-Tax-Penalty-Income-Tax-Penalty-on-Ship-Breaker-Penalty-on-Ship-Breake-taxscan.jpg "ITAT backs CIT(A) order Deleting ₹1.2 Crore Income Tax Penalty on Ship-Breaker for Lack of Alleged International Transactions Documents [Read Order]")
Addition of ₹12 Lakh u/s 69A: ITAT holds Sundry Debtors do not Qualify as Unexplained Income [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) found that the addition of ₹12 Lakh under Section 69A of Income Tax Act,1961 was not justified, as the sundry debtors shown in the books did...
![Addition of ₹12 Lakh u/s 69A: ITAT holds Sundry Debtors do not Qualify as Unexplained Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Jaipur-Unexplained-Income-Section-69A-of-Income-Tax-Act-TAXSCAN.jpg "Addition of ₹12 Lakh u/s 69A: ITAT holds Sundry Debtors do not Qualify as Unexplained Income [Read Order]")
Addition of Rs. 1 Crore based on Partner's Statement without Evidence: ITAT restores matter to CIT(A) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) restored the matter to the Commissioner of Income Tax(Appeals)[CIT(A)] for fresh consideration, observing that the addition of Rs. 1 crore...
![Addition of Rs. 1 Crore based on Partners Statement without Evidence: ITAT restores matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Ahmedabad-Income-tax-Income-tax-addition-TAXSCAN-1.jpg "Addition of Rs. 1 Crore based on Partners Statement without Evidence: ITAT restores matter to CIT(A) [Read Order]")