![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]")
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]
The Madhya Pradesh High Court recently took a compassionate approach in a case involving the dismissal of an income tax appeal due to a mistake by...
![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]](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]](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]")
Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) in Delhi upheld the deletion of an addition made by the Assessing Officer (AO) concerning alleged undisclosed income linked to post-dated cheques (PDCs)...
![Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AO-to-Prove-Nexus-Post-Dated-Cheque-and-Undisclosed-Income-ITAT-TAXSCAN1.jpg "Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]")
ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) ordered income estimation at 12.5% of gross receipts instead of disallowing entire entries as bogus due to potential expense...
![ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Services-in-Forms-Receipt-of-Patent-Registered-Outside-India-Patent-Registered-Outside-India-Receipt-of-Patent-cestat-taxscan.jpg "ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]")
Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]
The Supreme Court of India in a recent Appeal before it remanded an Income Tax matter back to the Assessing Officer (AO) while directing the AO to reconsider the nature of business conducted by the...
![Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/10/Supreme-Court-Income-Tax-Matter-Determination-of-Purpose-FD-Accounts-Nature-Of-Income-TAXSCAN.jpg "Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]")
Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]
Recently, the Income Tax Appellate Tribunal ( ITAT ) in Delhi dismissed the appeal filed by the assessee, Shivam Leasing Pvt. Ltd., upholding a substantial income tax addition of ₹1.05 crore for the...
![Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-TAT-Delhi-TAXSCAN.jpg "Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]")