Income Tax Bill 2025: What Nonprofit Organizations Need to Know
The new Income Tax Bill 2025 introduces major reforms to streamline the taxation and compliance framework for nonprofit organizations (NPOs) in...
![ITAT Deletes Penalty u/s 271D: Penalty Held Invalid as Section 153C Assessment Quashed due to Lack of Incriminating Material [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Deletes-Penalty-Penalty-Held-Invalid-Section-153C-Assessment-Quashed-Assessment-Quashed-due-Lack-of-Incriminating-Material-taxscan.jpg "ITAT Deletes Penalty u/s 271D: Penalty Held Invalid as Section 153C Assessment Quashed due to Lack of Incriminating Material [Read Order]")
![ITAT Directs CIT(A) to Re-examine Gift from HUF Under Section 56(2)(vii) of Income Tax Act 1961 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Hindu-Undivided-Family-Income-Tax-Taxscan.jpg "ITAT Directs CIT(A) to Re-examine Gift from HUF Under Section 56(2)(vii) of Income Tax Act 1961 [Read Order]")
![ITAT Weekly Round-Up [Feb 15th-Feb 21st,2025]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-weekly-round-up.webp "ITAT Weekly Round-Up [Feb 15th-Feb 21st,2025]")
![ITAT Grants Relief to Trust: Rules Against Excessive Surcharge Imposition by Centralized Processing Centre [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/trust-.jpg "ITAT Grants Relief to Trust: Rules Against Excessive Surcharge Imposition by Centralized Processing Centre [Read Order]")
‘When Cash is Sourced out of Recorded Debtors, S. 69A cannot be invoked’: ITAT deletes Addition of Rs. 21.5 Crores [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 21.5 crores as the bench reached the conclusion that when cash is sourced out of recorded debtors, Section...
![‘When Cash is Sourced out of Recorded Debtors, S. 69A cannot be invoked’: ITAT deletes Addition of Rs. 21.5 Crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Cash-is-Sourced-Cash-is-Sourced-out-of-Recorded-Debtors-Recorded-Debtors-Section-69A-cannot-be-invoked-ITAT-ITAT-deletes-Addition-taxscan.jpg "‘When Cash is Sourced out of Recorded Debtors, S. 69A cannot be invoked’: ITAT deletes Addition of Rs. 21.5 Crores [Read Order]")
AI proposes, Tribunal Disposes! Bengaluru ITAT Bench in Soup after AI-generated Order cites non-existent Cases [Read Order]
In a shockingly interesting incident, the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) was forced to withdraw a tax ruling after discovering that it was based on legal precedents that...
![AI proposes, Tribunal Disposes! Bengaluru ITAT Bench in Soup after AI-generated Order cites non-existent Cases [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Bengaluru-AI-generated-Order-ITAT-Bengaluru-AI-generated-order-case-TAXSCAN.jpg "AI proposes, Tribunal Disposes! Bengaluru ITAT Bench in Soup after AI-generated Order cites non-existent Cases [Read Order]")
Income Tax Department’s Alleged Demand for Household Withdrawal Proof Sparks X Controversy: Fact or Fake?
A contentious post by CA Akhil Pachori condemning the income tax annexure and requesting that taxpayers maintain a record of all withdrawals with receipts to support them under Section 142(1) of the...
Notice u/s 148 issued by AO beyond Stipulated period u/s 149(1)(a): ITAT dismisses Revenue Appeal [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal filed by the revenue by upholding the decision of the Commissioner of Income Tax (Appeals) [CIT(A)] that a notice...
![Notice u/s 148 issued by AO beyond Stipulated period u/s 149(1)(a): ITAT dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Notice-Section-148-issued-by-AO-Stipulated-period-Section-1491a-Stipulated-period-ITAT-ITAT-dismisses-Revenue-Appeal-Revenue-Appeal-taxscan.jpg "Notice u/s 148 issued by AO beyond Stipulated period u/s 149(1)(a): ITAT dismisses Revenue Appeal [Read Order]")
ITAT Upholds Denial of Exemption u/s 54, Citing Failure to Invest in New Asset Within Specified Timeframe [Read Order]
The Income Tax Appellate Tribunal (ITAT) Lucknow Bench has upheld the denial of exemption under Section 54 of the Income Tax Act, 1961, to the appellant for failing to invest in a new residential...
![ITAT Upholds Denial of Exemption u/s 54, Citing Failure to Invest in New Asset Within Specified Timeframe [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Upholds-Denial-Denial-of-Exemption-Denial-of-Exemption-Section-54-Citing-Failure-to-Invest-Specified-Timeframe-Failure-to-Invest-taxscan.jpg "ITAT Upholds Denial of Exemption u/s 54, Citing Failure to Invest in New Asset Within Specified Timeframe [Read Order]")
ITAT allows S.80G Deduction for donation out of CSR funds to PM National Relief Fund [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, in a recent ruling, has allowed a deduction under Section 80G of the Income Tax Act for a donation made out of Corporate Social Responsibility...
![ITAT allows S.80G Deduction for donation out of CSR funds to PM National Relief Fund [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-CSR-funds-PM-National-Relief-Fund-Section-80G-of-Income-Tax-Act-TAXSCAN.jpg "ITAT allows S.80G Deduction for donation out of CSR funds to PM National Relief Fund [Read Order]")
AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Lucknow Bench, has ruled that Assessing Officer (AO) is not legally entitled to estimate sales on a hypothetical basis while ignoring documentary evidence....
![AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Lucknow-ITAT-case-on-hypothetical-sales-calculation-TAXSCAN.jpg "AO not Legally Entitled to Calculates Sales on Hypothetical Basis ignoring Evidence: ITAT [Read Order]")