![No Disallowance u/s. 40(a)(ia) where TDS on Buyback of Shares Paid Not Claimed in P&L but Adjusted Against Reserves: ITAT upholds CIT(A) Order [Read Order]](https://images.taxscan.in/h-upload/2025/09/27/500x300_2091468-no-disallowance-itat-taxscan.webp "No Disallowance u/s. 40(a)(ia) where TDS on Buyback of Shares Paid Not Claimed in P&L but Adjusted Against Reserves: ITAT upholds CIT(A) Order [Read Order]")
No Disallowance u/s. 40(a)(ia) where TDS on Buyback of Shares Paid Not Claimed in P&L but Adjusted Against Reserves: ITAT upholds CIT(A) Order [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal of the revenue and upheld the CIT(A) order. The tribunal held...
![Rs. 9.98 Lakh Income Tax Refund with Interest Delayed by Tax Authorities: Delhi HC Directs Payment within Eight Weeks [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/250x150_2091343-income-tax-refund-interest-delayed-tax-authorities-delhi-hc-directs-payment-taxscan.webp "Rs. 9.98 Lakh Income Tax Refund with Interest Delayed by Tax Authorities: Delhi HC Directs Payment within Eight Weeks [Read Order]")
![Service Tax Disallowed u/s 43B from Existing Tax Audit Report Without Fresh Material: ITAT quashes Erroneous Reassessment by AO [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/250x150_2091269-itat-itat-ahmedabad-income-tax-audit-report-income-tax-return-taxscan.webp "Service Tax Disallowed u/s 43B from Existing Tax Audit Report Without Fresh Material: ITAT quashes Erroneous Reassessment by AO [Read Order]")
![Addition of Rs. 1,17,538/- u/s 68 for Penny Stock Transactions: ITAT Deletes Addition as Assessee Incurred Short-Term Capital Loss, Not LTCG [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/250x150_2091295-short-term-capital-loss-taxscan.webp "Addition of Rs. 1,17,538/- u/s 68 for Penny Stock Transactions: ITAT Deletes Addition as Assessee Incurred Short-Term Capital Loss, Not LTCG [Read Order]")
ITRs, Cash Books & Bank Records Proved Income: Delhi HC Upholds Income Tax Deletion of ₹2.8 Cr Demonetization Cash Addition [Read Order]
The Delhi High Court recently upheld the deletion of an income tax addition of ₹2.8 crore on cash deposits that were made during the demonetization period, holding that the assessee had...
![ITRs, Cash Books & Bank Records Proved Income: Delhi HC Upholds Income Tax Deletion of ₹2.8 Cr Demonetization Cash Addition [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091317-demonetization-itat-cash-deposits-taxscan.webp "ITRs, Cash Books & Bank Records Proved Income: Delhi HC Upholds Income Tax Deletion of ₹2.8 Cr Demonetization Cash Addition [Read Order]")
Rs. 3.5 Lakh Gift from Daughter Treated as Unexplained Cash by AO: ITAT Deletes Addition, Accepts Source as Genuine [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the Assessing Officer (AO)’s addition of Rs. 3.5 lakh, holding that the amount received as a gift from the assessee’s daughter was...
![Rs. 3.5 Lakh Gift from Daughter Treated as Unexplained Cash by AO: ITAT Deletes Addition, Accepts Source as Genuine [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091288-itat-income-tax-act-itat-delhi-cash-gift-father-and-father-in-law-taxable-under-income-tax-act-taxscan.webp "Rs. 3.5 Lakh Gift from Daughter Treated as Unexplained Cash by AO: ITAT Deletes Addition, Accepts Source as Genuine [Read Order]")
![Trust Income to be Taxed at Normal Rate as Sole Beneficiary had No Taxable Income: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091291-trust-income-normal-rate-sole-beneficiary-no-taxable-income-itat-taxscan.webp "Trust Income to be Taxed at Normal Rate as Sole Beneficiary had No Taxable Income: ITAT [Read Order]")
Supreme Court Dismisses Plea Against Expanded Definition of “Sikkimese”, Rules Change Limited to Income Tax Exemption Purpose Only [Read Order]
In a recent ruling, the Supreme Court of India dismissed a plea challenging the expanded definition of “Sikkimese” under Section 10(26AAA) of the Income Tax Act, 1961, and clarified that the change...
![Supreme Court Dismisses Plea Against Expanded Definition of “Sikkimese”, Rules Change Limited to Income Tax Exemption Purpose Only [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091389-supreme-court-income-tax-supreme-court-dismisses-plea-taxscan.webp "Supreme Court Dismisses Plea Against Expanded Definition of “Sikkimese”, Rules Change Limited to Income Tax Exemption Purpose Only [Read Order]")
‘Income Tax Data Exists for Publicity, Not for Accountability’: RTI Response on ITR Filings Data Sparks Transparency Uproar
A recent Right to Information (RTI) response from the Income Tax Department’s Centralized Processing Centre (CPC) in Bengaluru has triggered widespread debate over data transparency and public ...
ITAT Dismisses Revenue’s Appeal on Business Loss, Rules CBDT Exception for Bogus LTCG/STCL from Penny Stocks Inapplicable [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue’s appeal for the Assessment Year 2013-14, holding that the loss from share trading was a business loss and that the...
![ITAT Dismisses Revenue’s Appeal on Business Loss, Rules CBDT Exception for Bogus LTCG/STCL from Penny Stocks Inapplicable [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091274-business-loss-taxscan.webp "ITAT Dismisses Revenue’s Appeal on Business Loss, Rules CBDT Exception for Bogus LTCG/STCL from Penny Stocks Inapplicable [Read Order]")
80G Approval Rejected over Religious Object: ITAT Directs CIT(E) to Verify 5% Spending Limit [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) directed Commissioner of Income Tax(Exemption)[CIT(E)] to verify whether the assessee had exceeded the 5% limit of income spent on...
![80G Approval Rejected over Religious Object: ITAT Directs CIT(E) to Verify 5% Spending Limit [Read Order]](https://images.taxscan.in/h-upload/2025/09/26/500x300_2091292-itat-ahmedabad-80-taxscan.webp "80G Approval Rejected over Religious Object: ITAT Directs CIT(E) to Verify 5% Spending Limit [Read Order]")