![Savings A/c Cash Deposits treated as ‘Unexplained Money’ during Income Tax Assessment: ITAT Remands matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Hyderabad-Cash-Deposit-Income-Tax-Assessment-Income-Tax-Income-Tax-Appellate-Tribunal-Taxscan.jpg "Savings A/c Cash Deposits treated as ‘Unexplained Money’ during Income Tax Assessment: ITAT Remands matter to AO [Read Order]")
Savings A/c Cash Deposits treated as ‘Unexplained Money’ during Income Tax Assessment: ITAT Remands matter to AO [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) was recently faced with a matter wherein an Assessee’s Cash Deposits in their...
![TDS Violation Demand Order issued in name of Previous Company rectifiable u/s 292B of IT Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-HC-Delhi-High-Court-TDS-Violation-TDS-Violation-Demand-TDS-TDS-Violation-Demand-Order-Violation-Demand-Order-Order-issued-taxscan.jpg "TDS Violation Demand Order issued in name of Previous Company rectifiable u/s 292B of IT Act: Delhi HC [Read Order]")
![ITAT Condones 50-day Delay, Directs CIT(A) for Fresh Adjudication in Interest of Substantial Justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Condones-Delay-taxscan.jpg "ITAT Condones 50-day Delay, Directs CIT(A) for Fresh Adjudication in Interest of Substantial Justice [Read Order]")
![ITAT Remands Case to CIT(A) for Reassessment, Allowing Assessee Another Opportunity to Substantiate Rs. 51.20 Lacs Cash Credit [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Chennai-ITAT-Income-Tax-Cash-Credit-taxscan.jpg "ITAT Remands Case to CIT(A) for Reassessment, Allowing Assessee Another Opportunity to Substantiate Rs. 51.20 Lacs Cash Credit [Read Order]")
![ITAT Rules Entire Bank Credit as Business Receipts for Income Estimation u/s 44AD of income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Section-44AD-Income-Tax-Act-bank-credits-as-business-receipts-taxscan.jpg "ITAT Rules Entire Bank Credit as Business Receipts for Income Estimation u/s 44AD of income Tax Act [Read Order]")
ITAT Deletes Addition of Rs.53.23 Lakh on Cash Deposits During Demonetization, Directs Re-computation of Income [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs.53.23 Lakhs on cash deposits during the demonetization period and directed the Assessing Officer ( AO ) to...
![ITAT Deletes Addition of Rs.53.23 Lakh on Cash Deposits During Demonetization, Directs Re-computation of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Chennai-ITAT-Deletes-Addition-on-Cash-Deposits-Demonetization-Re-computation-of-income-Taxscan.jpg "ITAT Deletes Addition of Rs.53.23 Lakh on Cash Deposits During Demonetization, Directs Re-computation of Income [Read Order]")
CBDT Exempts Petroleum and Natural Gas Regulatory Board from Income Tax under Section 10(46A) [Read Notification]
The Central Board of Direct Taxes ( CBDT ), through Notification No. 118/2024 dated November 12, 2024, has granted the Petroleum and Natural Gas Regulatory Board ( PNGRB ) an income tax exemption...
![CBDT Exempts Petroleum and Natural Gas Regulatory Board from Income Tax under Section 10(46A) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-CBDT-Central-Board-of-Direct-Taxes-Petroleum-and-Natural-Gas-Regulatory-Board-TAXSCAN.jpg "CBDT Exempts Petroleum and Natural Gas Regulatory Board from Income Tax under Section 10(46A) [Read Notification]")
Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]
In a recent case before Income Tax Appellate Tribunal ( ITAT ), New Delhi it was ruled that an assessment against a non-existent entity cannot be rectified by invoking Section 292 of the Income Tax...
![Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-New-Delhi-Income-Tax-Income-Tax-Act-Section-292-of-Income-Tax-Act-Section-292-of-ITA-Taxscan.png "Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]")
Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]
In a recent ruling, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) held that Income Tax addition is not applicable on the interest income from government project funds deposited as...
![Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Bangalore-Income-Tax-Addition-Interest-Income-from-Govt-Project-Funds-Taxscan.jpg "Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]")
Delay in Admission of Additional Evidence u/r 46A: ITAT quashes ₹34L addition to Taxable Income, Remands Matter [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently quashed the addition of Rs.34 Lakh made by an Assessing Officer to the income of an Assessee on account of unexplained cash...
![Delay in Admission of Additional Evidence u/r 46A: ITAT quashes ₹34L addition to Taxable Income, Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Taxable-Income-Delay-in-additional-evidence-Rule-46A-Tax-addition-quashed-Taxscan.jpg "Delay in Admission of Additional Evidence u/r 46A: ITAT quashes ₹34L addition to Taxable Income, Remands Matter [Read Order]")
Income Tax Authorities Fail to Consider Submission on Lenders Identity and Creditworthiness: Karnataka HC Remands Matter for Fresh Consideration [Read Order]
In a recent ruling, the Karnataka High Court remanded the matter for fresh consideration due to income tax authorities' failure to consider the submission of the petitioner on lender identity and...
![Income Tax Authorities Fail to Consider Submission on Lenders Identity and Creditworthiness: Karnataka HC Remands Matter for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Authorities-Karnataka-High-Court-Tax-Authorities-TAXSCAN.jpg "Income Tax Authorities Fail to Consider Submission on Lenders Identity and Creditworthiness: Karnataka HC Remands Matter for Fresh Consideration [Read Order]")