55th GST Council Approves Concept Note for Simplifying Registration for Small Businesses
The Union Finance Minister Nirmala Sitharaman chaired the 55th meeting of the GST Council today (21st December 2024) at Jaisalmer, Rajasthan. ...
![Error in using Deceased Persons PAN in S.263 Revision Order: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Deceased-Persons-PAN-error-case-taxscan.jpg "Error in using Deceased Persons PAN in S.263 Revision Order: ITAT quashes Order [Read Order]")
![[BREAKING] Section 87A Rebate Issue: CBDT to Extend ITR Deadline to Jan 15 after Bombay HC Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Bombay-High-Court-CBDT-ITR-Deadline-Taxscan.jpg "[BREAKING] Section 87A Rebate Issue: CBDT to Extend ITR Deadline to Jan 15 after Bombay HC Order [Read Order]")
![S. 271B Penalty Applicable Only if Accounts Are Not Audited as per S. 44AB, Not for Delay in Submission of Audit Report: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Audit-Report-ITAT-Submission-of-Audit-Report-Ahmedabad-Bench-of-the-Income-Tax-Appellate-Tribunal-Income-Tax-Appellate-Tribunal-submission-of-the-audit-report-Assessing-Officer-Taxcan.jpg "S. 271B Penalty Applicable Only if Accounts Are Not Audited as per S. 44AB, Not for Delay in Submission of Audit Report: ITAT [Read Order]")
![Lack of Knowledge of E-Filing System: ITAT Condones 1030-Day Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-E-Filing-System-E-Filing-Taxscan.jpg "Lack of Knowledge of E-Filing System: ITAT Condones 1030-Day Delay [Read Order]")
ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the Gross margin can be reduced to 6% from 12% which was determined by the Commissioner of Income Tax [Appeals] CIT(A),...
![ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Gross-Margin-ITAT-Reduces-Gross-Margin-Unaccounted-Cash-Cash-Receipts-to-6-from-12-Totality-of-Facts-ITAT-Ahmedabad-Income-Tax-taxscan.jpg "ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]")
CIT(A) disallows ₹1.41 Crore u/s 54F for Additional Residential Property: ITAT Remands Matter Clarifying Commercial Properties Ownership [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter for verification concerning CIT(A)'s disallowance of Rs. 1.41 crore exemption claimed under Section 54F of the...
![CIT(A) disallows ₹1.41 Crore u/s 54F for Additional Residential Property: ITAT Remands Matter Clarifying Commercial Properties Ownership [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CIT-ITAT-Remands-Matter-ITAT-Remands-Matter-Clarifying-Commercial-Properties-Ownership-Income-Tax-Appellate-Tribunal-income-tax-return-declaring-assessing-officer-Commissioner-of-Income-Tax-Taxscan.jpg "CIT(A) disallows ₹1.41 Crore u/s 54F for Additional Residential Property: ITAT Remands Matter Clarifying Commercial Properties Ownership [Read Order]")
Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]
Тhe Mumbаi bеnсh оf thе Incоme Таx Appеllаtе Tribunаl ( IТAТ ) in thе саse оf Вeаchwood Propеrtiеs Рvt.Ltd hеld tахаtiоn оf аn incomе аlrеаdy tаxеd in earlier аssessment yeаrs or some othеr form...
![Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]](https://images.taxscan.in/h-upload/2025/06/03/500x300_2041089-itat-itat-mumbai-duble-ttin-taxscan.webp "Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]")
Ex Parte Assessment Order u/s 144 Passed by upholding Addition of unexplained Investment: ITAT Restores matter Considering Old Age of Assessee [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) restored the ex parte assessment order passed under section 144 of the Income tax passed considering old age of assessee. Through the...
![Ex Parte Assessment Order u/s 144 Passed by upholding Addition of unexplained Investment: ITAT Restores matter Considering Old Age of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-New-Delhi-Income-Tax-Income-Tax-News-section-144-Taxscan.jpg "Ex Parte Assessment Order u/s 144 Passed by upholding Addition of unexplained Investment: ITAT Restores matter Considering Old Age of Assessee [Read Order]")
ITAT Upholds disallowance u/s 56(2)(viib) due to Unexplained Share Premium Fluctuation within same Financial Year [Read Order]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance under Section 56(2)(viib) of the Income Tax Act, 1961, due to Unexplained Share Premium...
![ITAT Upholds disallowance u/s 56(2)(viib) due to Unexplained Share Premium Fluctuation within same Financial Year [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Upholds-disallowance-Unexplained-Share-Premium-Financial-Year-Ahmedabad-bench-of-the-Income-Tax-Appellate-Tribunal-Share-Premium-Fluctuation-assessing-officer-income-tax-returns-Taxscan.jpg "ITAT Upholds disallowance u/s 56(2)(viib) due to Unexplained Share Premium Fluctuation within same Financial Year [Read Order]")