Penalty u/s 272A(1)(d) of Income Tax Cannot Be Imposed for Non-Compliance with Notices Due to Consultant’s Failure to Inform: ITAT deletes Penalty
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) has deleted a penalty imposed under Section 272A(1)(d) of the Income Tax Act, 1961...
![ITAT upholds CIT(A)s deletion of Rs. 149.29 Crores Addition, Confirming Amalgamation Exemption u/s 47(vi) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Act-Section-47vi-of-Income-Tax-Act-ITAT-Upholds-CITA-Deletion-Taxscan.jpg "ITAT upholds CIT(A)s deletion of Rs. 149.29 Crores Addition, Confirming Amalgamation Exemption u/s 47(vi) of Income Tax Act [Read Order]")
![Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-ITAT-upholds-Revision-Order-Ancillary-Activities-allowing-Alternate-Claim-Alternate-Claim-Alternate-Claim-of-Co-Op-Society-taxscan.jpg "Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]")
![Section 80P Inserted to Encourage Growth of Co-Operative Societies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-AHMEDABAD-Section-80P-cooperative-societies-growth-of-cooperative-societies-TAXSCAN.jpg "Section 80P Inserted to Encourage Growth of Co-Operative Societies: ITAT [Read Order]")
![Purchases Supported by Bills, Entries Made in Books and Payment made by Cheque not Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Ahmedabad-ITAT-ruling-on-bill-supported-purchases-TAXSCAN-1.jpg "Purchases Supported by Bills, Entries Made in Books and Payment made by Cheque not Bogus: ITAT [Read Order]")
No Disallowance u/s 43B for unclaimed GST due to Lack of Deduction: ITAT allows Appeal [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT )ruled that no disallowance under Section 43B of the Income Tax Act,1961 could be imposed for unclaimed Goods and Service Tax ( GST ) due...
![No Disallowance u/s 43B for unclaimed GST due to Lack of Deduction: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-GST-Unclaimed-GST-Income-Tax-ITAT-Allows-Appeal-Section-43B-of-Income-Tax-Act-Taxscan.jpg "No Disallowance u/s 43B for unclaimed GST due to Lack of Deduction: ITAT allows Appeal [Read Order]")
Supreme Court set to Re-Adjudicate Constitutionality of Benami Transactions Prohibition Act, recalls Invalidation
The Supreme Court has retracted its August 2022 judgement, which had nullified prosecutions under the Benami Transactions (Prohibition) Act, 1988. A new bench will now reassess the case. The...
![ITAT directs DRP to reconsider Assessees Objection Over Signature Irregularity [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Ahmedabad-Income-Tax-Dispute-Resolution-Panel-ITAT-taxscan.jpeg "ITAT directs DRP to reconsider Assessees Objection Over Signature Irregularity [Read Order]")
![Failure to Prove Loan Credibility: ITAT Remands Case to AO for Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Loan-Adjudication-Taxscan.jpg "Failure to Prove Loan Credibility: ITAT Remands Case to AO for Fresh Adjudication [Read Order]")
Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that once cash withdrawals were proven, the burden shifts to the Income Tax Department to Disprove these funds were not available...
![Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Cash-Withdrawal-Income-Tax-Dept-Income-Tax-Income-Tax-Dept-disproving-deposits-Taxscan.jpg "Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]")
ITAT Upholds Legitimacy of Cash Deposits, Rejects Unexplained Classification u/s 68 of Income Tax Act [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the legitimacy of cash deposits made during the demonetization period and rejected their classification as unexplained under Section...
![ITAT Upholds Legitimacy of Cash Deposits, Rejects Unexplained Classification u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Jaipur-Cash-Deposit-Section-68-of-Income-Tax-Act-Income-Tax-Income-Tax-Act-Cash-deposits-in-demonetization-period-taxscan.jpg "ITAT Upholds Legitimacy of Cash Deposits, Rejects Unexplained Classification u/s 68 of Income Tax Act [Read Order]")
Rule 12E of Income Tax Rules does not confine CBDT’s powers to only authorize NFAC Officers for purposes u/s 142(1): Delhi HC [Read Order]
The Delhi High Court recently dismissed a Petition citing that Rule 12E of the Income Tax Rules, 1962 does not mandate the Central Board of Direct Taxes ( CBDT ) to appoint only Officers from the...
![Rule 12E of Income Tax Rules does not confine CBDT’s powers to only authorize NFAC Officers for purposes u/s 142(1): Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Delhi-High-Court-Rule-12E-of-Income-Tax-Rules-Income-Tax-Income-Tax-Rule-CBDT-NFAC-Taxscan.jpg "Rule 12E of Income Tax Rules does not confine CBDT’s powers to only authorize NFAC Officers for purposes u/s 142(1): Delhi HC [Read Order]")