Filing of Rectification Application u/s 154 of the Income Tax Act: Explained
Taxpayers sometimes face situations where errors appear in their income tax assessment orders. These errors could be clerical mistakes, calculation...
![No Additions Can Be Made Without Incriminating Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/No-Addition-Incriminating-Evidence-ITAT-assessee-appealed-to-the-CIT-CIT-Central-Board-of-Direct.jpg "No Additions Can Be Made Without Incriminating Evidence: ITAT [Read Order]")
![Advances Presumed to Be Made from Available Interest-Free Funds When Sufficient Funds Exist: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Interest-Free-Funds-Ahmedabad-Bench-of-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-The-Ahmedabad-Bench-CIT-interest-free-funds-when-sufficient-funds-exist-Income-tax-Taxscan.jpg "Advances Presumed to Be Made from Available Interest-Free Funds When Sufficient Funds Exist: ITAT [Read Order]")
![Non-Compliance of Section 153C Income Tax: ITAT quashes Issuance of Scrutiny Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Scrutiny-Notice-1.jpeg "Non-Compliance of Section 153C Income Tax: ITAT quashes Issuance of Scrutiny Notice [Read Order]")
![Section 153C Assessment Quashed: ITAT Holds Search-Based Additions Invalid Without Incriminating Material [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Section-153C-Assessment-Quashed-Search-Based-Additions-Incriminating-Material-taxscan.jpg "Section 153C Assessment Quashed: ITAT Holds Search-Based Additions Invalid Without Incriminating Material [Read Order]")
Write-off of Rs. 8,002 on Non-Recoverable Employee Advances Allowed as Business Expense u/s 37: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)allowed the write-off of Rs. 8,002 on non-recoverable employee advances as a deductible business expense under Section 37 of the Income Tax...
![Write-off of Rs. 8,002 on Non-Recoverable Employee Advances Allowed as Business Expense u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Business-Expense-Ahmedabad-Bench-of-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-non-recoverable-employee-advances-Income-Tax-Income-Tax-Appellate-Tribunal-Taxscan-1.jpg "Write-off of Rs. 8,002 on Non-Recoverable Employee Advances Allowed as Business Expense u/s 37: ITAT [Read Order]")
Service Tax Liability on Interest-Free Advances for Agricultural Land Dispute: CESTAT Orders Re-Examination Due to Ambiguous MoU Clauses [Read Order]
The New Delhi Principal Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that the imposition of service tax on interest-free advances received for agricultural land...
![Service Tax Liability on Interest-Free Advances for Agricultural Land Dispute: CESTAT Orders Re-Examination Due to Ambiguous MoU Clauses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CESTAT-Service-Tax-Service-Tax-Liability-Interest-Free-Advances-Interest-Free-Agricultural-Land-Dispute-Re-Examination-Order-taxscan.jpg "Service Tax Liability on Interest-Free Advances for Agricultural Land Dispute: CESTAT Orders Re-Examination Due to Ambiguous MoU Clauses [Read Order]")
Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]
In a recent decision, the Surat bench of the Income Tax Appellate Tribunal ( ITAT ) held that credit card payment without showing income source attracts addition under Section 69A of the Income Tax...
![Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Credit-Card-payment-Income-Source-attracts-S-69A-Addition-ITAT-upholds-TAXSCAN.jpg "Credit Card payment without showing Income Source attracts S. 69A Addition: ITAT upholds Rs. 6.16L Addition [Read Order]")
Income Tax Portal Update: Rectification Application u/s 154 directly with AO Online Live on Portal
The Income Tax Department has updated its portal, enabling taxpayers to file rectification applications of Assessment Order issued by AO under Section 154 of the Income Tax Act, 1961, directly with...
PCIT Cannot Substitute AO's View in 263 Proceedings Unless AO's Decision Wholly Unsustainable in Law: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) ruled that the Principal Commissioner of Income Tax (PCIT) cannot substitute the Assessing Officer’s (AO) view in proceedings under Section...
![PCIT Cannot Substitute AOs View in 263 Proceedings Unless AOs Decision Wholly Unsustainable in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/PCIT-PCIT-Cannot-Substitute-AOs-View-ITAT-Decision-Wholly-Unsustainable-in-Law-Ahmedabad-Bench-of-Income-Tax-Appellate-Tribunal-reassessment-The-two-member-bench-Taxscan.jpg "PCIT Cannot Substitute AOs View in 263 Proceedings Unless AOs Decision Wholly Unsustainable in Law: ITAT [Read Order]")
Eligibility for S.80P(2)(d) Deduction on Interest Income from Cooperative Banks: ITAT Upholds CIT(A) Order [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)upheld the Commissioner of Income Tax (Appeals)[CIT(A)]'s order allowing a deduction under Section 80P(2)(d) of Income Tax Act,1961 for...
![Eligibility for S.80P(2)(d) Deduction on Interest Income from Cooperative Banks: ITAT Upholds CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-news-Cooperative-Banks-Deduction-on-Interest-Section-80P2d-Taxscan.jpg "Eligibility for S.80P(2)(d) Deduction on Interest Income from Cooperative Banks: ITAT Upholds CIT(A) Order [Read Order]")
![S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Section-263-of-the-Income-Tax-Act-Borrowed-Satisfaction-Income-Tax-Section-263-taxscan.jpg "S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction ITAT [Read Order]")