![AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080411-ao-municipal-rateable-fair-rent-independently-income-tax-act-bombay-hc-taxscan.webp "AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]")
AO Not Bound by Municipal Rateable Value, Can Fix Fair Rent Independently u/s 23(1)(a) Income Tax Act: Bombay HC [Read Order]
In a recent ruling, the Bombay High Court held that the Assessing Officer is not bound to accept the municipal rateable value while determining the...
![Public Listed Companies need not to Prove Source of Source of Share Capital u/s 68: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080309-public-listed-companies-source-share-capital-itat-taxscan.webp "Public Listed Companies need not to Prove Source of Source of Share Capital u/s 68: ITAT [Read Order]")
![Individual Fails to Prove Cash Deposits as Land Sale Proceeds by Father: ITAT remits Matter back on Interest of Justice [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080336-cash-deposit-taxscan.webp "Individual Fails to Prove Cash Deposits as Land Sale Proceeds by Father: ITAT remits Matter back on Interest of Justice [Read Order]")
![S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080369-income-tax-act-lack-of-inquiry-madras-hc-taxscan.webp "S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]")
![Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080317-charitable-institution-accumulated-income-itat-taxscan.webp "Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]")
ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]
The Amritsar Bench of Income Tax Appellate Tribunal ( ITAT )allows the appeal of the assessee and deletes the penalty of ₹96,010 on an alleged bogus brick payment after the department confirms no...
![ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080310-itat-deletes-penalty-taxscan.webp "ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending Supplies [Read Order]")
ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance of ₹27,92,370/- made by the Assessing Officer (AO) without undertaking an independent inquiry under Section...
![ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080298-disallowance-not-applicable-payment-account-payee-cheque-account-payee-dd-itat-taxscan.webp "ITAT Deletes Disallowance made by AO without undertaking Independent Inquiry u/s 133(6) of Income Tax Act [Read Order]")
Taxpreparer files ITR-U showing Higher Income without Taxpayer’s Knowledge as OTP Shared: ITAT Remands for Verification [Read Order]
The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) remanded a matter for verification where a tax preparer filed an updated Income Tax Returns (ITR-U) showing higher income without the ...
![Taxpreparer files ITR-U showing Higher Income without Taxpayer’s Knowledge as OTP Shared: ITAT Remands for Verification [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080303-itr-u-higher-income-itat-taxscan.webp "Taxpreparer files ITR-U showing Higher Income without Taxpayer’s Knowledge as OTP Shared: ITAT Remands for Verification [Read Order]")
Advance Receivables Qualify as Application of Income u/s 11(2): ITAT directs AO to accept Claim [Read Order]
The Chandigarh Bench of Income Tax Appellate Tribunal ( ITAT )directed the Assessing Officer (AO) to accept the claim that advance receivables qualify as an application of income under Section...
![Advance Receivables Qualify as Application of Income u/s 11(2): ITAT directs AO to accept Claim [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080285-income-itat-directs-claim-taxscan.webp "Advance Receivables Qualify as Application of Income u/s 11(2): ITAT directs AO to accept Claim [Read Order]")
Cash Deposits in Joint Account Declared in Wife’s ITR: ITAT Remits Matter as Individual Fails to Explain Source of Cash Deposits [Read Order]
The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) remitted a matter involving cash deposits of ₹14,89,425 in a joint bank account declared in the wife’s income-tax return (ITR) after the ...
![Cash Deposits in Joint Account Declared in Wife’s ITR: ITAT Remits Matter as Individual Fails to Explain Source of Cash Deposits [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080270-cash-deposits-joint-account-itr-itat-cash-deposits-taxscan.webp "Cash Deposits in Joint Account Declared in Wife’s ITR: ITAT Remits Matter as Individual Fails to Explain Source of Cash Deposits [Read Order]")
Failure to consider Benefit of working capital adjustment while computing ALP: ITAT Directs re adjudication against Schneider Electric India Pvt ltd [Read Order]
The New Delhi bench of the Income TaxAppellate Tribunal (ITAT) directed the re adjudication against the case of Schneider Electric India Private Limited regarding the allegation of failure to ...
![Failure to consider Benefit of working capital adjustment while computing ALP: ITAT Directs re adjudication against Schneider Electric India Pvt ltd [Read Order]](https://images.taxscan.in/h-upload/2025/08/24/500x300_2080120-working-capital-adjustment-alp-itat-schneider-electric-india-pvt-ltd-taxscan.webp "Failure to consider Benefit of working capital adjustment while computing ALP: ITAT Directs re adjudication against Schneider Electric India Pvt ltd [Read Order]")
Centre Grants Income Tax Exemptions to Credit Guarantee Fund Trust for Animal Husbandry and Karnataka Construction Workers’ Welfare Board [Read Notification]
The Central Board of Direct Taxes (CBDT), Ministry of Finance, issued Notification No. 138/2025 and Notification No. 139/2025, both dated 22 August 2025, granting income tax exemptions under ...
![Centre Grants Income Tax Exemptions to Credit Guarantee Fund Trust for Animal Husbandry and Karnataka Construction Workers’ Welfare Board [Read Notification]](https://images.taxscan.in/h-upload/2025/08/24/500x300_2080115-income-tax-exemptions-credit-guarantee-fund-trust-animal-husbandry-and-karnataka-construction-workers-welfare-board-taxscan.webp "Centre Grants Income Tax Exemptions to Credit Guarantee Fund Trust for Animal Husbandry and Karnataka Construction Workers’ Welfare Board [Read Notification]")