![ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Cuttack-CITA-Commissioner-of-Income-Tax-Appeals-AO-assessing-officer-Evidence-TAXSCAN.webp "ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]")
ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) rejected the assessing officer (AO)’s appeal challenging the Commissioner of Income Tax...
![Self Funded Assets of Delhi Airport Metro Express: ITAT Upholds Depreciation Claimed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Delhi-Airport-Metro-Express.jpg "Self Funded Assets of Delhi Airport Metro Express: ITAT Upholds Depreciation Claimed [Read Order]")
![Punjab and Haryana HC Upholds ITAT Order Granting S.12A Registration to Vocational Training Institute [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/SITE-IMG.jpg "Punjab and Haryana HC Upholds ITAT Order Granting S.12A Registration to Vocational Training Institute [Read Order]")
![Unexplained Cash Deposits of Rs. 3.13 Crore: ITAT Directs AO to Consider Bank Withdrawals in Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-ITAT-Directs-ITAT-Directs-AO-Unexplained-Cash-Deposits-Consider-Bank-Withdrawals-taxscan.jpg "Unexplained Cash Deposits of Rs. 3.13 Crore: ITAT Directs AO to Consider Bank Withdrawals in Reassessment [Read Order]")
![Dismissal of Income Tax Appeal owing to Mistake of Counsel: Madhya Pradesh HC directs Counsel and Applicant to spend time at Mercy Home [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Madhya-Pradesh-High-Court-Dismissal-of-Income-Tax-Appeal-Income-Tax-Appeal-Taxscan.jpg "Dismissal of Income Tax Appeal owing to Mistake of Counsel: Madhya Pradesh HC directs Counsel and Applicant to spend time at Mercy Home [Read Order]")
Chhattisgarh HC Directs to Treat Unexplained Cash Credit In Bank Account Would Be Treated As Income In Absence of Satisfactory Explanation [Read Order]
The Chhattisgarh High Court recently upheld an ex-parte assessment under Section 144 of the Income Tax Act, 1961, against an assessee who failed to participate in assessment proceedings or explain...
![Chhattisgarh HC Directs to Treat Unexplained Cash Credit In Bank Account Would Be Treated As Income In Absence of Satisfactory Explanation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Bank-account-cash-credit-cases-TAXSCAN.jpg "Chhattisgarh HC Directs to Treat Unexplained Cash Credit In Bank Account Would Be Treated As Income In Absence of Satisfactory Explanation [Read Order]")
Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [Read Order]
The Kerala High Court in a significant case held that the 'interest income' on the short-term deposits of the funds infused by the Government, which are sanctioned for purpose of setting up of...
![Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Kerala-High-Court-Interest-Income-From-Short-Term-Funds-Interest-Income-From-Taxscan.jpg "Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [Read Order]")
ITAT upholds CIT(A)'s decision to delete Rs.3,08,11,278 penalty u/s 271(1)(c) as Quantum of Addition No Longer Exists [Read Order]
The Cuttack Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete the Rs.3,08,11,278 penalty levied under section 271(1)(c) for the...
![ITAT upholds CIT(A)s decision to delete Rs.3,08,11,278 penalty u/s 271(1)(c) as Quantum of Addition No Longer Exists [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Penalty-Jurisdiction-ITAT-taxscan.jpg "ITAT upholds CIT(A)s decision to delete Rs.3,08,11,278 penalty u/s 271(1)(c) as Quantum of Addition No Longer Exists [Read Order]")
lTAT Deletes Addition of Rs. 16,80,000 for SBN Deposits from Liquor Sales, Citing Exceptional Circumstances [Read Order]
The Cuttack Bench of Income Tax Appellate Tribunal(ITAT) deleted the addition of Rs. 16,80,000 made for cash deposits in Specified Bank Notes (SBN) from liquor sales, citing exceptional...
![lTAT Deletes Addition of Rs. 16,80,000 for SBN Deposits from Liquor Sales, Citing Exceptional Circumstances [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/lTAT-SBN-Deposits-from-Liquor-Sales-Citing-Exceptional-Circumstances-TAXSCAN.jpg "lTAT Deletes Addition of Rs. 16,80,000 for SBN Deposits from Liquor Sales, Citing Exceptional Circumstances [Read Order]")
![Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Mechanical-Approval-Reassessment-PCIT-ITAT-Income-Tax-Notice-us-148-TAXSCAN1.jpg "Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]")
Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]
In a recent decision, the Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, remanded a case involving the assessee, Virtual Global Education Ltd. back to the Assessing Officer ( AO ), after...
![Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-ITAT-Delhi-Ad-Hoc-TAXSCAN.jpg "Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]")