![AO Must Give Reasons While Rejecting Immunity Plea u/s 270AA of Income Tax: Calcutta HC Sets Aside Order [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/2119543-calcut2.webp "AO Must Give Reasons While Rejecting Immunity Plea u/s 270AA of Income Tax: Calcutta HC Sets Aside Order [Read Order]")
AO Must Give Reasons While Rejecting Immunity Plea u/s 270AA of Income Tax: Calcutta HC Sets Aside Order [Read Order]
In a recent decision, the Calcutta High Court held that an Assessing Officer must clearly explain the reasons while rejecting an application seeking...
![Ruling in Ashish Agarwal Case applies Only to Defective Income Tax Notices, Not to Reopening Closed Assessment: Supreme Court [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/2119466-income-tax-notice-ashish-agarwal-case-defective-income-tax-notices-ruling-in-ashish-agarwal-case-defective-notice-supreme-court-income-tax-ruling-taxscan.webp "Ruling in Ashish Agarwal Case applies Only to Defective Income Tax Notices, Not to Reopening Closed Assessment: Supreme Court [Read Order]")
![No Profit in Intra-Group Sales, Not Liable for Commission Income: ITAT Rules in Avance Technologies Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2119116-commission-income-taxscan-.webp "No Profit in Intra-Group Sales, Not Liable for Commission Income: ITAT Rules in Avance Technologies Appeal [Read Order]")
![Interest Income Earned by Co-Operative Society from Deposits With Co-Op Banks & Nationalised Bank Eligible for S. 80P Deduction: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2119113-interest-income-co-operative-society-deposits-co-op-banks-nationalised-bank-itat-taxscan.webp "Interest Income Earned by Co-Operative Society from Deposits With Co-Op Banks & Nationalised Bank Eligible for S. 80P Deduction: ITAT [Read Order]")
![AO Cannot make Additions on Issues Unrelated to Recorded Reopening Reasons: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2118743-itat-mumbai-reopening-reasons-reopening-of-assessment-income-tax-reassessment-recorded-reasons-itat-reassessment-judgment-recorded-reopening-reasons-taxscan.webp "AO Cannot make Additions on Issues Unrelated to Recorded Reopening Reasons: ITAT [Read Order]")
![STT-Paid STCL Set-Off allowed against 30% STCG Despite 15% Rate: ITAT Quashes Denial [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2118761-stt-stcl-set-off-allowed-against-stcg-despite-rate-itat-quashes-denial-taxscan.webp "STT-Paid STCL Set-Off allowed against 30% STCG Despite 15% Rate: ITAT Quashes Denial [Read Order]")
Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s. 115JB [Read Order]
set aside a disallowance of ₹33.83 crore made under Section 37 of the Income TaxAct, 1961, along with the corresponding addition to book profits under Section 115JB, after noting that the Assessing...
![Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s. 115JB [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2118745-schedule-bp-adjustment-ignored-taxscan.webp "Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s. 115JB [Read Order]")
Date of Share Transfer Determines “Holding Period”, Not Allotment Date: ITAT allows LTCG Exemption [Read Order]
The Mumbai Bench, Income Tax Appellate Tribunal (ITAT) held that for the purpose of determining the “holding period” of shares concerning eligibility for long-term capital gains (LTCG) exemption,...
![Date of Share Transfer Determines “Holding Period”, Not Allotment Date: ITAT allows LTCG Exemption [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2118753-date-share-transfer-holding-period-allotment-itat-ltcg-exemption-taxscan.webp "Date of Share Transfer Determines “Holding Period”, Not Allotment Date: ITAT allows LTCG Exemption [Read Order]")
![Brought-Forward Losses Cannot be Set Off against DTAA-Exempt LTCG: ITAT Bars Adjustment [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/2118727-brought-forward-losses-cannot-be-set-off-against-dtaa-exempt-ltcg-taxscan.webp "Brought-Forward Losses Cannot be Set Off against DTAA-Exempt LTCG: ITAT Bars Adjustment [Read Order]")
ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has held that the assessing officer cannot ignore the examination of source of funds merely because of the error in income tax return ( ITR ) due to...
![ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/2118429-itat-grants-relief-unexplained-income-property-sale-despite-invalid-income-tax-return-taxscan.webp "ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]")