![Once Income Tax Penalty Quashed for Lack of Concealment, 276C Prosecution Cannot Survive: Rajasthan HC [Read Order]](https://images.taxscan.in/h-upload/2025/11/28/500x300_2108521-income-tax-penalty-lack-concealment-prosecution-rajasthan-hc-taxscan.webp "Once Income Tax Penalty Quashed for Lack of Concealment, 276C Prosecution Cannot Survive: Rajasthan HC [Read Order]")
Once Income Tax Penalty Quashed for Lack of Concealment, 276C Prosecution Cannot Survive: Rajasthan HC [Read Order]
In a recent ruling, the Rajasthan High Court explained that when theIncome Tax Appellate Tribunal (ITAT) has already removed a penalty after finding...
![Income Tax Notice issued to Deceased Invalid: Calcutta HC orders to Re-initiate Proceedings against Legal Heirs [Read Order]](https://images.taxscan.in/h-upload/2025/11/28/250x150_2108460-income-tax-notice-taxscan.webp "Income Tax Notice issued to Deceased Invalid: Calcutta HC orders to Re-initiate Proceedings against Legal Heirs [Read Order]")
![Kerala HC Disallows Deduction u/s 37 for Interest on Agricultural Income Tax Payment Delays [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/250x150_2108297-kerala-hc-deduction-agricultural-income-tax-payment-delays-taxscan.webp "Kerala HC Disallows Deduction u/s 37 for Interest on Agricultural Income Tax Payment Delays [Read Order]")
![Cash Payment Disallowance u/s 40A(3) Partially Upheld: ITAT Remits for Verification of Government Cess Payment [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/250x150_2108309-cash-payment-disallowance-us-40a3-partially-itat-remits-verification-government-cess-payment-taxscan.webp "Cash Payment Disallowance u/s 40A(3) Partially Upheld: ITAT Remits for Verification of Government Cess Payment [Read Order]")
![Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/250x150_2108388-unexplained-cash-credits.webp "Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]")
2 Persons, 1 PAN: Madras HC Orders Income Tax Dept to Allot New Number After Original Holder Denied Loans Over Low CIBIL [Read Order]
The Madras High Court recently directed the Income Tax Department to allot a fresh Permanent AccountNumber (PAN) to an assessee after it was found that the same PAN had been erroneously issued to...
![2 Persons, 1 PAN: Madras HC Orders Income Tax Dept to Allot New Number After Original Holder Denied Loans Over Low CIBIL [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/500x300_2108346-2-persons-1-pan-madras-high-court-taxscan.webp "2 Persons, 1 PAN: Madras HC Orders Income Tax Dept to Allot New Number After Original Holder Denied Loans Over Low CIBIL [Read Order]")
After ₹29,208 Crore Disclosure in First Drive, CBDT to Roll Out 2nd NUDGE Campaign for Foreign Asset Reporting
The Central Board ofDirect Taxes (CBDT) has launched the second “Non-intrusive Usage of Data to Guide and Enable” (NUDGE) campaign to encourage taxpayers to voluntarily disclose their foreign assets...
Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) has held that once the books of accounts and the resultant trading results are accepted by the Assessing Officer (AO), a portion ...
![Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/25/500x300_2107947-sale-proceeds-cash-credits.webp "Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]")
Proper Course of Action for Assessment Based on Information from Search must be u/s 153C: ITAT Rules S. 147 Invocation Invalid [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) quashed the entire reassessment proceedings and ruled that proper course action must be under section 153C for reopening based on search ...
![Proper Course of Action for Assessment Based on Information from Search must be u/s 153C: ITAT Rules S. 147 Invocation Invalid [Read Order]](https://images.taxscan.in/h-upload/2025/11/25/500x300_2107827-assessment-based-on-information-taxscan.webp "Proper Course of Action for Assessment Based on Information from Search must be u/s 153C: ITAT Rules S. 147 Invocation Invalid [Read Order]")
Bank Holidays Do Not Justify Cash Payments Exceeding Statutory Limit: ITAT Rejects Assessee’s Claim u/r 6DD of Income Tax Rules [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the payments was not made on banking holidays and held that the assessee failed to establish the conditions required for...
![Bank Holidays Do Not Justify Cash Payments Exceeding Statutory Limit: ITAT Rejects Assessee’s Claim u/r 6DD of Income Tax Rules [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/500x300_2108301-bank-holidays-cash-payments-exceeding-statutory-limit-itat-rejects-assessees-claim-ur-6dd-income-tax-rules-taxscan.webp "Bank Holidays Do Not Justify Cash Payments Exceeding Statutory Limit: ITAT Rejects Assessee’s Claim u/r 6DD of Income Tax Rules [Read Order]")
Reduction in Shareholding Due to Fresh Allotment is Not a 'Transfer or Relinquishment of Right': ITAT Deletes ₹2.53 Cr Capital Gain Addition [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) granted substantial relief by confirming the deletion of a Short-term Capital Gain addition of ₹2,53,20,000/- for the Assessment Year (AY)...
![Reduction in Shareholding Due to Fresh Allotment is Not a Transfer or Relinquishment of Right: ITAT Deletes ₹2.53 Cr Capital Gain Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/25/500x300_2107797-245724a6-5b2d-4c72-89d9-c07c8adadce0.webp "Reduction in Shareholding Due to Fresh Allotment is Not a Transfer or Relinquishment of Right: ITAT Deletes ₹2.53 Cr Capital Gain Addition [Read Order]")
