![Unexplained Cash Deposits of Rs.32 Lakhs: ITAT Reduces Addition Due to Incorrect Bank Deposit Amount [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN-1.jpg "Unexplained Cash Deposits of Rs.32 Lakhs: ITAT Reduces Addition Due to Incorrect Bank Deposit Amount [Read Order]")
Unexplained Cash Deposits of Rs.32 Lakhs: ITAT Reduces Addition Due to Incorrect Bank Deposit Amount [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) reduced the addition of unexplained cash deposits from Rs. 32 lakhs to Rs. 18.50 lakhs...
![Reliance on Stamp Duty Valuation for Capital Gains Without DVO Report: ITAT Directs Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Appellate-Tribunal-Stamp-Duty-TAXSCAN.jpg "Reliance on Stamp Duty Valuation for Capital Gains Without DVO Report: ITAT Directs Reassessment [Read Order]")
![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]
In a significant development, the Bombay High Court has directed the Central Board of Direct Taxes ( CBDT ) to extend the deadline for filing Income Tax Returns ( ITRs ) to January 15, 2025,...
![[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]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that Section 271B penalty of the Income Tax Act, 1961, applies only when accounts are not audited as required under Section 44AB,...
![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]")