![Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/Finance-Minister-NCGTC-TDS-Finance-Ministry-Exempts-NCGTC-from-TDS-Taxscan.jpg "Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]")
Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]
The Ministry of Finance issued Notification No. S.O. 19(E), dated January 2, 2025, announcing a tax exemption for the National Credit Guarantee...
![Income Tax Dept Specifies Conditions for TDS Exemption on Purchases from IFSC Units u/s 194Q [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Income-Tax-Department-Tax-deducted-at-source-TDS-TDS-Exemption-TAXSCAN.jpg "Income Tax Dept Specifies Conditions for TDS Exemption on Purchases from IFSC Units u/s 194Q [Read Order]")
![Income Tax Dept Issues Suo Motu New PAN to Existing PAN Holder: Patna HC Invalidates New PAN and Quashes Reassessment Orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Patna-High-Court-Income-Tax-Department-PAN-PAN-card-cases-TAXSCAN.jpg "Income Tax Dept Issues Suo Motu New PAN to Existing PAN Holder: Patna HC Invalidates New PAN and Quashes Reassessment Orders [Read Order]")
![Nature and Source of Credit Satisfactorily Explained: ITAT directs AO to delete Additions u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Nature-Source-of-Credit-Satisfactorily-Explained-ITAT-AO-taxscan.jpg "Nature and Source of Credit Satisfactorily Explained: ITAT directs AO to delete Additions u/s 68 [Read Order]")
![ITAT remands case to Assessing Officer: Allows Assessee to furnish details for Unexplained Investment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Remands-Case-Assessing-Officer-Unexplained-Investment-taxscan.jpg "ITAT remands case to Assessing Officer: Allows Assessee to furnish details for Unexplained Investment [Read Order]")
![ITAT quashes Disallowance of Interest on Credit already confirmed to be Genuine [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-unsecured-loan-ITAT-on-unsecured-loan-interest-taxscan.jpg "ITAT quashes Disallowance of Interest on Credit already confirmed to be Genuine [Read Order]")
Interest on Compensation on Acquisition of Agricultural Land to be Treated as Income from Other Sources: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench has carefully examined the complex issue of taxability of interest received under Section 28 of the Land Acquisition Act, 1894, and held that...
![Interest on Compensation on Acquisition of Agricultural Land to be Treated as Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Delhi-Agricultural-Land-Agricultura-Taxscan.jpg "Interest on Compensation on Acquisition of Agricultural Land to be Treated as Income from Other Sources: ITAT [Read Order]")
Failure to Prove Service of Order: CESTAT Sets Aside Commissioner (Appeals)'s Time-Barred Dismissal, Remands Matter [Read Order]
The New Delhi Principal Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that an appeal cannot be dismissed as time-barred without sufficient evidence of service of the...
![Failure to Prove Service of Order: CESTAT Sets Aside Commissioner (Appeals)s Time-Barred Dismissal, Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CESTAT-Failure-to-prove-service-of-order-CESTAT-Sets-CommissionerAppealss-Time-Barred-Dismissal-Remands-Matter-taxscan.jpg "Failure to Prove Service of Order: CESTAT Sets Aside Commissioner (Appeals)s Time-Barred Dismissal, Remands Matter [Read Order]")
AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the income obtained from agriculture and reduced additions made by the Assessing officer to 2 Lakhs in order to prevent revenue...
![AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Surat-Income-Tax-Act-Agriculture-Income-taxscan.jpg "AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]")
Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]
The Surat Bench of Income Tax Appellate Tribunal(ITAT) reduced the disallowance of Rs. 25.85 lakh worth of purchases, originally made due to lack of documentation, to 12.5%. Shamkant Gajmal...
![Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Purchases-Due-Purchases-Due-to-Lack-of-Documentation-Lack-of-Documentation-Reduces-Addition-ITAT-Surat-taxscan.jpg "Disallowance of Rs.25.85 Lakh Purchases due to Lack of Documentation: ITAT reduces Addition to 12.5% [Read Order]")
CIT(E) Rejects Trust's Registration over limited review of objectives: ITAT orders Fresh Consideration [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) ordered fresh consideration of an application for registration under Section 12AB of the Income Tax Act,1961, following the rejection of...
![CIT(E) Rejects Trusts Registration over limited review of objectives: ITAT orders Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Surat-Trusts-Registration-ITAT-Orders-Taxscan.jpg "CIT(E) Rejects Trusts Registration over limited review of objectives: ITAT orders Fresh Consideration [Read Order]")
![PCITs Rejection of Refund Claim and Rectification Application: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/PCIT-ITAT-ITAT-Dismisses-Appeal-Income-Tax-Appellate-Tribunal-Surat-Bench-of-Income-Tax-Appellate-Tribunal-National-Faceless-Appeal-Centre-Income-tax-Income-tax-news-Taxscan.jpg "PCITs Rejection of Refund Claim and Rectification Application: ITAT Dismisses Appeal [Read Order]")