Taxation of Agricultural Income under Charitable Trusts under the Income Tax Act, 1961
In our country, still a large percentage of the population, especially in the rural areas, is dependent on agriculture for their income....
![ITAT upholds Addition of Rs. 70.95 Lakh u/s 69A due to Assessees Non-Compliance [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Upholds-addition-case-Section-69A-ITAT-Case-ITAT-Ahmedabad-TAXSCAN.jpg "ITAT upholds Addition of Rs. 70.95 Lakh u/s 69A due to Assessees Non-Compliance [Read Order]")
![Surcharge on Income Tax Applicable only on Income Exceeding Rs. 50 Lakhs: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Surcharge-Surcharge-on-Income-Tax-Income-Tax-Income-Tax-Applicable-Income-Exceeding-ITAT-taxscan.jpg "Surcharge on Income Tax Applicable only on Income Exceeding Rs. 50 Lakhs: ITAT [Read Order]")
![Details Furnished by Assessee not Considered by AO: ITAT remands Addition of Rs.117.01 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Chennai-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Appeals-Income-Tax-taxscan.jpg "Details Furnished by Assessee not Considered by AO: ITAT remands Addition of Rs.117.01 Lakhs [Read Order]")
![Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer as Source, Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Revenue-Challenges-Deletion-by-CITA-CITA-ITAT-ITAT-Confirms-Stamp-Paper-Purchases-Stamp-Paper-Stamp-Paper-Purchases-Customer-as-Source-taxscan.jpg "Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer as Source, Dismisses Appeal [Read Order]")
Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]
In a recent judgment by the ITAT Panaji, the Tribunal restricted the profit estimation to 5% of the purchase transactions for a petroleum firm facing stock record discrepancies. A petroleum firm,...
![Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Stock-Record-Stock-Record-Discrepancies-ITAT-ITAT-restricts-Profit-Estimation-Purchase-Transactions-Petroleum-Petroleum-Firm-taxscan.jpg "Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]")
Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to modify the addition citing that only 8% of creditors written off and discount receipts linked to...
![Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Chennai-Business-Income-Taxsacan.jpg "Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]")
ITAT Provides Relief in ₹118 Lakhs Cash Deposit Case: Lowers Income Estimation to 2% Margin for Ticket Agent [Read Order]
In a recent case, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) relieved a ticket agent by lowering the income estimation to a 2% margin. The assessee made the appeal to the ITAT...
![ITAT Provides Relief in ₹118 Lakhs Cash Deposit Case: Lowers Income Estimation to 2% Margin for Ticket Agent [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/TAT-Chennai-income-tax-Income-tax-news-ITAT-Provides-Relief-Taxscan.jpg "ITAT Provides Relief in ₹118 Lakhs Cash Deposit Case: Lowers Income Estimation to 2% Margin for Ticket Agent [Read Order]")
![Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Kolkata-Filing-Appeal-Multiple-PAN-cards-AO-for-Fresh-Hearing-Income-Tax-Appellate-Tribunal-Income-Tax-taxscan.jpg "Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]")
![Unexplained Cash Deposit of ₹6.5 Lakh during Demonetization: ITAT Remands Case for fresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Demonetization-Unexplained-Cash-Deposit-ITAT-Remands-Case-taxscan.jpg "Unexplained Cash Deposit of ₹6.5 Lakh during Demonetization: ITAT Remands Case for fresh [Read Order]")
CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter back to CIT(A) for rectification order citing a circular of the Central Board of Direct Taxes (CBDT) which granted relief...
![CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Chennai-Bench-of-Income-Tax-Appellate-Tribunal-Central-Board-of-Direct-Taxes-CIT-CBDT-Relief-for-Delayed-ITR-Filing-ITR-Filing-ITAT-Remands-Matter-CBDT-CPC-return-of-income-and-audit-report-ITR-Taxscan.jpg "CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]")
Deduction u/s 54F Allowable for Property Purchased in Wife's Name: ITAT Directs AO to Approve [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to approve the deduction under section 54F of the Income Tax Act for the property purchased in the wife’s...
![Deduction u/s 54F Allowable for Property Purchased in Wifes Name: ITAT Directs AO to Approve [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Directs-AO-ITAT-Directs-ITR-CIT-Delhi-High-Court-under-section-54F-of-the-Income-Tax-Act-immovable-property-AO-Taxscan.jpg "Deduction u/s 54F Allowable for Property Purchased in Wifes Name: ITAT Directs AO to Approve [Read Order]")