![ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Trust-CITE-income-tax-Taxscan.jpg "ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]")
ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) held that the rejection of registration of Trust under Section 12 AB of Income Tax Act,...
![Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Revenue-Delhi-HC-Affirms-basis-of-Third-Party-Third-Party-search-Findings-AOs-Reassessment-search-Findings-Affirms-AOs-Reassessment-taxscan.jpg "Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]")
![Valid Reason Necessary for Invoking Income Tax Reassessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-tax-Income-Tax-Appellate-Tribunal-Income-Tax-Reassessment-Income-Tax-Appeals-The-Ahmedabad-bench-Reassessment.jpg "Valid Reason Necessary for Invoking Income Tax Reassessment Proceedings: ITAT [Read Order]")
![ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Sales-Transactions-Cash-credit-addition-deletion-taxscan.jpg "ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]")
![S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Income-Tax-Section-68-of-Income-Tax-Act-Taxscan.jpg "S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]")
Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that an assessment cannot be deemed prejudicial to the revenue if the Assessing Officer ( AO ) has followed the Jurisdictional High...
![Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-ITAT-judgment-on-jurisdictional-High-Court-Taxscan.jpg "Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]")
ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT)Â directed the Commissioner of Income Tax (Appeals) [CIT(A)] to consider the reasons for the delay in filing an appeal after it was...
![ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-DIRECTS-INCOME-TAX-INCOME-TAX-APPEALS-Bangalore-Bench-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Filing-Appeal.jpg "ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]")
ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal( ITAT ) remanded the case of the Sikkimese assessee to the Assessing Officer ( AO ) for reconsideration of her tax exemption claim under Section...
![ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Case-to-AO-Reconsideration-of-Tax-Exemption-Claim-Sikkimese-Assessee-taxscan.jpg "ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]")
Trust's Appeal Partly Allowed: ITAT Remits Matter to CIT(E) for Fresh Consideration of Registration Application [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) recently set aside the rejection order of the Commissioner of Income Tax (Exemption) and remanded the matter for fresh consideration of...
![Trusts Appeal Partly Allowed: ITAT Remits Matter to CIT(E) for Fresh Consideration of Registration Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Jaipur-Income-Tax-Appellate-Tribunal-ITAT-CIT-cases-TAXSCAN.jpg "Trusts Appeal Partly Allowed: ITAT Remits Matter to CIT(E) for Fresh Consideration of Registration Application [Read Order]")
Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld that an addition made on account of rescission of liability under Section 41(1) of the Income Tax Act 1961 is justified when the...
![Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Chennai-Section-411-of-the-Income-Tax-Act-Retain-Liability-in-Subsequent-FYs-TAXSCAN.jpg "Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]")
Depreciation as Granted with Rate per Income Tax Act Must Be Deducted to Determine Accumulated Profits: Telangana HC [Read Order]
Telangana High Court in a recent case has held that for purposes of taxation,depreciation as granted with rates prescribed by Income-Tax Act, 1961 would have to be deducted for ascertaining the...
![Depreciation as Granted with Rate per Income Tax Act Must Be Deducted to Determine Accumulated Profits: Telangana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/income-tax-Income-Tax-Depreciation-Rates-Accumulated-Profits-taxscan.jpg "Depreciation as Granted with Rate per Income Tax Act Must Be Deducted to Determine Accumulated Profits: Telangana HC [Read Order]")
Interest Income from FDRs with other Cooporative Banks eligible for deduction u/s 80P (2)(d): ITAT [Read Order]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that interest income derived from FDRs with other cooperative banks is eligible for deduction under Section...
![Interest Income from FDRs with other Cooporative Banks eligible for deduction u/s 80P (2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Ahmedabad-Interest-income-Interest-income-from-FDRs-Cooporative-Banks-Section-80-P-2d-of-the-Income-Tax-Act-TAXSCAN.jpg "Interest Income from FDRs with other Cooporative Banks eligible for deduction u/s 80P (2)(d): ITAT [Read Order]")