![ITAT upholds AOs Addition of Rs. 9.65 Lakh u/s 56(2)(x) as Gift not Qualifying from a Relative [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakapatanam-Income-Tax-Section-562x-of-Income-Tax-Act-Income-Tax-Act-Taxscan.jpg "ITAT upholds AOs Addition of Rs. 9.65 Lakh u/s 56(2)(x) as Gift not Qualifying from a Relative [Read Order]")
ITAT upholds AO's Addition of Rs. 9.65 Lakh u/s 56(2)(x) as Gift not Qualifying from a Relative [Read Order]
The Visakhapatnam Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Assessing Officer's ( AO ) addition of ₹9.65 lakh under section...
![Cooperative Society Eligible for Income Tax Deduction u/s 80P(2)(a)(i) on Bank Interest Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-Interest-Income-Taxscan.jpg "Cooperative Society Eligible for Income Tax Deduction u/s 80P(2)(a)(i) on Bank Interest Income: ITAT [Read Order]")
![ITAT directs AO to delete Additions u/s68, confirming Source of Investment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-Assessing-Officer-ITAT-Directs-Income-Tax-Appellate-Tribunal-section-68-of-the-Income-Tax-Act-Confirming-Source-of-Investment-taxscan-2.jpg "ITAT directs AO to delete Additions u/s68, confirming Source of Investment [Read Order]")
![ITAT deletes Addition made by AO for Unsecured Loans, affirming Validity of Sources [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-ITAT-Deletes-Income-Tax-Appellate-Tribunal-unsecured-loans-Affirming-Validity-of-Sources-Validity-of-Sources-taxscan.jpg "ITAT deletes Addition made by AO for Unsecured Loans, affirming Validity of Sources [Read Order]")
No Allegation indicating CENVAT Credit Availment w/o Service Tax Payment under RCM: CESTAT relieves Hyundai of Rs. 63 Lakh Penalty [Read Order]
The Customs, Excise And Service Tax Appellate Tribunal ( CESTAT ), Chennai recently quashed a penalty of Rs.63 Lakhs against Hyundai Engineering, levied on the availment of Central Value Added Tax (...
![No Allegation indicating CENVAT Credit Availment w/o Service Tax Payment under RCM: CESTAT relieves Hyundai of Rs. 63 Lakh Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/CESTAT-CESTAT-Chennai-CENVAT-Credit-RCM-Central-Value-Added-Tax-Hyundai-Hyundai-Engineering-Reverse-Charge-Basis-Service-Tax-Payment-taxscan.jpg "No Allegation indicating CENVAT Credit Availment w/o Service Tax Payment under RCM: CESTAT relieves Hyundai of Rs. 63 Lakh Penalty [Read Order]")
Offences can be Compounded u/s 279 of Income Tax Act for before or after Institution of Proceedings: Orissa HC sets aside Order Rejecting Same [Read Order]
In a significant case, the Orissa High Court held that offence can be compounded under section 279 of Income Tax Act, 1961 as provision specified that it either before or after institution of...
![Offences can be Compounded u/s 279 of Income Tax Act for before or after Institution of Proceedings: Orissa HC sets aside Order Rejecting Same [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Orissa-High-Court-Income-Tax-Act-Section-279-Income-Tax-Act-taxscan.jpg "Offences can be Compounded u/s 279 of Income Tax Act for before or after Institution of Proceedings: Orissa HC sets aside Order Rejecting Same [Read Order]")
![AOs Notices were never served to Assessee: ITAT sets aside Ex-Parte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Ex-Parte-Order-Income-Tax-Appellate-Tribunal-ITAT-Sets-Aside-Ex-Parte-Order-Taxscan.jpg "AOs Notices were never served to Assessee: ITAT sets aside Ex-Parte Order [Read Order]")
ITAT directs Reassessment of ₹10.3 Lakh Deposit after Original Appeal dismissed without full review [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) in Delhi directed a reassessment of a disputed ₹10.3 lakh deposit made during India’s 2016 demonetization period, following an appeal...
![ITAT directs Reassessment of ₹10.3 Lakh Deposit after Original Appeal dismissed without full review [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Appellate-Tribunal-Demonetization-Tax-reassessment-taxscan.jpeg "ITAT directs Reassessment of ₹10.3 Lakh Deposit after Original Appeal dismissed without full review [Read Order]")
ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) deletes Rs. 6 lakh penalty on the assessee over an alleged violation of Section 269SS of the Income Tax Act, 1961. In this case,...
![ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-ITAT-deletes-bonafide-claim-LTCG-Section-269SS-of-the-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-news-ITAT-updates-taxscan.jpg "ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]")
“Acceptance of Explanation for Delay should be the Rule and Refusal, An Exception”: ITAT Condones 236-Day Delay in Appeal Filing [Read Order]
Recently, the Income Tax Appellate Tribunal ( ITAT ) in Delhi has allowed an appeal by an assessee condoning a delay of 236 days in filing the appeal in light of Supreme Court's precedents, stressing...
![“Acceptance of Explanation for Delay should be the Rule and Refusal, An Exception”: ITAT Condones 236-Day Delay in Appeal Filing [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Condones-Condones-236-Day-Taxscan.jpg "“Acceptance of Explanation for Delay should be the Rule and Refusal, An Exception”: ITAT Condones 236-Day Delay in Appeal Filing [Read Order]")