Income Tax Dept to enable ITR-5, ITR-6 and ITR-7 Filing from Today
In a significant update for taxpayers, the Income Tax Department has announced the availability of utilities for filing ITR-5, ITR-6, and ITR-7...
![Stamp Duty Value Difference Leads to Addition of Rs.1.28 Crore: ITAT Upholds CIT(A)s Decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Stamp-Duty-Section-562viibii-of-Income-Tax-Act-taxscan.jpg "Stamp Duty Value Difference Leads to Addition of Rs.1.28 Crore: ITAT Upholds CIT(A)s Decision [Read Order]")
![Incorrect Rejection of S.80IC Deduction due to Village Name Discrepancy: ITAT Allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Incorrect-Rejection-Deduction-Due-to-Village-Name-Discrepancy-ITAT-taxscan.jpg "Incorrect Rejection of S.80IC Deduction due to Village Name Discrepancy: ITAT Allows Appeal [Read Order]")
![Disallowance of Deduction on Interest from Co-Operative Banks: ITAT allows Deduction u/s 80P(2)(d) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Ahmedabad-ITAT-TAT-Allows-Deduction-Co-operative-Bank-Taxscan.jpg "Disallowance of Deduction on Interest from Co-Operative Banks: ITAT allows Deduction u/s 80P(2)(d) [Read Order]")
ITAT Dissects 'Gupt Daan' Mystery: Unraveling unexplained Cash in Religious Trust Lockers [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) dissected a ‘Gupt Daan’,a secret gift regarding unexplained cash in a Religious Trust locker. A detailed examination was conducted regarding...
![ITAT Dissects Gupt Daan Mystery: Unraveling unexplained Cash in Religious Trust Lockers [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Delhi-ITAT-on-Gupt-Daan-mystery-taxscan.jpg "ITAT Dissects Gupt Daan Mystery: Unraveling unexplained Cash in Religious Trust Lockers [Read Order]")
Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that exchange gain can be adjusted from total income by reducing it from the block of assets under section 43A of the Income Tax Act...
![Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Income-Tax-Section-43A-of-Income-Tax-Act-taxscan.jpg "Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]")
CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that CIT ( A ) could not be reopened under Section 150 of the Income Tax Act due to the expiry of the time limit of 6 years stated...
![CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CIT-Time-Limit-CITA-cannot-Direct-Reopening-taxscan.jpg "CIT(A) cannot Direct Reopening u/s 150(1) if Time Limit beyond 6 years u/s 150(2) has Expired: ITAT [Read Order]")
ITAT quashes Tax Reassessment Orders: Due to Lack of Specific Evidence in Search Operation Documents [Read Order]
In a landmark ruling, the Income Tax Appellate Tribunal ( ITAT ) New Delhi Bench quashed the assessment orders for Social Realtors Private Limited,the assesee for Assessment Years 2011-12 to 2016-17,...
![ITAT quashes Tax Reassessment Orders: Due to Lack of Specific Evidence in Search Operation Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-New-Delhi-Income-Tax-Appellate-Tribunal-Tax-Reassessment-Orders-case-TAXSCAN.jpg "ITAT quashes Tax Reassessment Orders: Due to Lack of Specific Evidence in Search Operation Documents [Read Order]")
ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of Rs. 35.83 lakh Long-Term Capital Gain to total income, rejecting Sauda Chitthi's claim for enhanced acquisition...
![ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Long-Term-Capital-Gain-LTCG-addition-ITAT-taxscan.jpg "ITAT confirms Rs. 35.83 Lakh LTCG Addition, rejects Sauda Chitthi Claim for Enhanced Acquisition Cost due to Absence in Previous Financial Records [Read Order]")
PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 14A of the Income Tax Act, 1961 was a Non-Obstante clause that can be applied prospectively from 01.04.2022 and quashed...
![PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-PCIT-Disallow-Expenditure-Disallow-Expenditure-Section-14A-Section-14A-PCIT-Revises-Non-Obstante-Clause-taxscan.jpg "PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]")
Reopening of Assessment for unexplained Investment in Property: ITAT upholds Reopening [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the reopening of assessment under Section 147 of Income Tax Act,1961 for unexplained investment in property, dismissing the appeal...
![Reopening of Assessment for unexplained Investment in Property: ITAT upholds Reopening [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Upholds-Reopening-Reopening-of-Assessment-Unexplained-Investment-ITAT-Upholds-Investment-in-Property-taxscan.jpg "Reopening of Assessment for unexplained Investment in Property: ITAT upholds Reopening [Read Order]")