![ITAT Quashes Revisionary Order u/s 263 Against Sabarmati Gas as PCIT Exceeded Scope of Show Cause Notice [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/2115862-itat-quashes-revisionary-order-263-against-sabarmati-gas-pcit-exceeded-scope-show-cause-notice-taxscan.webp "ITAT Quashes Revisionary Order u/s 263 Against Sabarmati Gas as PCIT Exceeded Scope of Show Cause Notice [Read Order]")
ITAT Quashes Revisionary Order u/s 263 Against Sabarmati Gas as PCIT Exceeded Scope of Show Cause Notice [Read Order]
The Income Tax Appellate Tribunal (ITAT) atAhmedabad, has set aside a revisionary order passed under Section 263 of theIncome Tax Act, 1961 after...
![ITAT Deletes ₹2.70 Crore Income Tax Addition on Alleged Cash Receipts from Property Sale, Cites Lack of Supportive Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/2115856-itat-deletes-270-crore-income-tax-addition-on-alleged-cash-receipts-from-property-sale-cites-lack-of-supportive-evidence-taxscan.webp "ITAT Deletes ₹2.70 Crore Income Tax Addition on Alleged Cash Receipts from Property Sale, Cites Lack of Supportive Evidence [Read Order]")
![ITAT Reduces 2% Commission Addition on Bank Credits to 1% in Accommodation Entry Matter [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/2115831-2070700-commission-accomodation-entries-taxscan.webp "ITAT Reduces 2% Commission Addition on Bank Credits to 1% in Accommodation Entry Matter [Read Order]")
![Transfer Pricing Dispute: Delhi HC Refuses to Condone Income Tax Department’s 1285-Day Delay in Re-Filing Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/2115842-delhi-high-court-condone-income-tax-department-condonation-of-delay-condonation-condonation-delay-taxscan.webp "Transfer Pricing Dispute: Delhi HC Refuses to Condone Income Tax Department’s 1285-Day Delay in Re-Filing Appeal [Read Order]")
![Loose Sheets without Third-Party Confirmation Insufficient for Addition u/s 69C: ITAT Directs Profit Estimation at 7% [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115693-income-tax-addition-taxscan.jfif "Loose Sheets without Third-Party Confirmation Insufficient for Addition u/s 69C: ITAT Directs Profit Estimation at 7% [Read Order]")
Housing Society Not Liable to pay Income Tax if Members Paid Capital Gain: ITAT Remands for verification [Read Order]
The Mumbai Bench of the Income Tax AppellateTribunal (ITAT) ruled that the housing society was not liable if members had already paid capital gains and remanded the matter back to the Assessing ...
![Housing Society Not Liable to pay Income Tax if Members Paid Capital Gain: ITAT Remands for verification [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115691-itat-remands-for-verification-site-image.webp "Housing Society Not Liable to pay Income Tax if Members Paid Capital Gain: ITAT Remands for verification [Read Order]")
Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restricted a bogus purchase addition to 5% and ruled that the Assessing Officer (AO) cannot treat the entire purchase amount as non-genuine...
![Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115681-entire-purchase-amount-cannot-be-disallowed-when-sales-accepted-and-stock-records-maintained-itat-restricts-bogus-purchase-addition-taxscan.webp "Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]")
Income Tax Dept’s NFAC has Exclusive Power to issue Notice u/s 148: Punjab & Haryana HC [Read Order]
The Punjab and Haryana High Court has held that only the National Faceless Assessment Centre (NFAC) can issue reassessment notices under Section148 of the Income Tax Act, 1961. The Court ruled that...
![Income Tax Dept’s NFAC has Exclusive Power to issue Notice u/s 148: Punjab & Haryana HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115679-income-tax-depts-nfac-has-exclusive-power-to-issue-notice-us-148-punjab-haryana-hc-taxscan.webp "Income Tax Dept’s NFAC has Exclusive Power to issue Notice u/s 148: Punjab & Haryana HC [Read Order]")
S. 80P Benefits cannot be Denied to Registered Housing Society in absence of Cancellation by Registrar: ITAT Deletes Addition [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the benefits under Section 80P cannot be denied to registered housing society as the registration was not cancelled by the ...
![S. 80P Benefits cannot be Denied to Registered Housing Society in absence of Cancellation by Registrar: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115696-benefits-cannot-denied-registered-housing-society-absence-cancellation-registrar-itat-deletes-addition-taxscan.webp "S. 80P Benefits cannot be Denied to Registered Housing Society in absence of Cancellation by Registrar: ITAT Deletes Addition [Read Order]")
![Assessments and Time Limits under Income Tax Act [New v/s Old Tax Act Series]](https://images.taxscan.in/h-upload/2025/12/29/2115718-assessments-time-limits-under-income-tax-act-taxscan.webp "Assessments and Time Limits under Income Tax Act [New v/s Old Tax Act Series]")
Payments by Developer on Behalf of Housing Society Not Taxable as ‘Income from Other Sources’: ITAT [Read Order[
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that expenditures discharged by a re-developer for statutory fees and site infrastructure did not constitute "Income from other...
Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and held that the provision of Section 68 of the Income Tax Act was not applicable to money received in ...
![Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/2115685-itat-kolkata-cash-credit-unexplained-cash-credit-cash-credit-addition-itat-ruling-itat-on-cash-credit-taxscan.webp "Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]")