PAN Misuse Scam: UP Sweet Shop Owner Slapped With Rs. 141 Crore Income Tax Notice
A small sweet shop owner has received an income tax notice demanding an unbelievable amount of money. The notice was sent by the Income Tax...
![CBDT Extends Income Tax Exemption Timelines by Six Years for Sovereign Wealth and Pension Funds u/s 10(23FE) [Read Notification]](https://images.taxscan.in/h-upload/2025/09/02/250x150_2083480-income-tax-exemption-income-share-transactions-undisclosed-income-income-tax-itat-taxscan-2.webp "CBDT Extends Income Tax Exemption Timelines by Six Years for Sovereign Wealth and Pension Funds u/s 10(23FE) [Read Notification]")
![Simultaneous Deductions u/s 80IB and S. 80HHC can be Deducted from Net Profit: ITAT follows Supreme Court decision, Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/09/02/250x150_2083448-simultaneous-deductions-itat-supreme-court-appeal-taxscan.webp "Simultaneous Deductions u/s 80IB and S. 80HHC can be Deducted from Net Profit: ITAT follows Supreme Court decision, Allows Appeal [Read Order]")
![CIT(A) & AO Ignores status of GST Angle in ₹25.17 cr Bogus Purchase Case: ITAT orders fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/09/02/250x150_2083373-gst-bogus-purchase-itat-fresh-adjudication-taxscan.webp "CIT(A) & AO Ignores status of GST Angle in ₹25.17 cr Bogus Purchase Case: ITAT orders fresh Adjudication [Read Order]")
![Rejection of Books u/s 145 Does Not Retrospectively Waive Mandatory Obligation to Furnish Audit Report u/s 44AB: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/09/02/250x150_2083371-itat-hyderabad-tax-audit-report-filing-section-145-rejection-section-44ab-audit.webp "Rejection of Books u/s 145 Does Not Retrospectively Waive Mandatory Obligation to Furnish Audit Report u/s 44AB: ITAT [Read Order]")
AO Fails to Carry Out Adequate Verification with GST dept: ITAT Remands Alleged Bogus Purchase Addition of ₹10.51 Crore [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad remanded the matter of alleged Rs. 10.51 crore addition back to the Assessing Officer (AO) as it failed to verify the carry out the independent...
![AO Fails to Carry Out Adequate Verification with GST dept: ITAT Remands Alleged Bogus Purchase Addition of ₹10.51 Crore [Read Order]](https://images.taxscan.in/h-upload/2025/09/02/500x300_2083383-gst-itat-alleged-bogus-taxscan.webp "AO Fails to Carry Out Adequate Verification with GST dept: ITAT Remands Alleged Bogus Purchase Addition of ₹10.51 Crore [Read Order]")
Addition u/s 43CA r.w.s. 56(2) on Flat Sale Requires Merits-Based Review: ITAT sets aside Non-Prosecution Dismissal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai examined the validity of additions made under Section 43CA read with Section 56(2)(vii)(b) of the Income Tax Act, 1961, relating to flat sales below...
![Addition u/s 43CA r.w.s. 56(2) on Flat Sale Requires Merits-Based Review: ITAT sets aside Non-Prosecution Dismissal [Read Order]](https://images.taxscan.in/h-upload/2025/09/01/500x300_2083096-flat-sale-taxscan.webp "Addition u/s 43CA r.w.s. 56(2) on Flat Sale Requires Merits-Based Review: ITAT sets aside Non-Prosecution Dismissal [Read Order]")
Rectification to Correct Income Mistakenly Offered Twice Cannot Be Denied: ITAT Restricts Addition to Prevent Double Taxation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jodhpur, has held that rectification under Section 154 of the Income Tax Act, 1961, is permissible where an inadvertent mistake in return filing results in...
![Rectification to Correct Income Mistakenly Offered Twice Cannot Be Denied: ITAT Restricts Addition to Prevent Double Taxation [Read Order]](https://images.taxscan.in/h-upload/2025/09/01/500x300_2083067-double-taxation-taxscan.webp "Rectification to Correct Income Mistakenly Offered Twice Cannot Be Denied: ITAT Restricts Addition to Prevent Double Taxation [Read Order]")
CBDT Approves IIT Madras Research Park for Income Tax Deduction, Donations to Scientific Research Claimable [Read Notification]
The Central Board of Direct Taxes ( CBDT ) has granted approval to IIT Madras Research Park for income tax deduction benefits, making donations made to the institution claimable as deductions under...
![CBDT Approves IIT Madras Research Park for Income Tax Deduction, Donations to Scientific Research Claimable [Read Notification]](https://images.taxscan.in/h-upload/2025/09/01/500x300_2083069-iit-madras-taxscan.webp "CBDT Approves IIT Madras Research Park for Income Tax Deduction, Donations to Scientific Research Claimable [Read Notification]")
Income Tax Dept. Launched Evasion Prosecution Flouting CBDT Circulars: Supreme Court Slaps ₹2 Lakh Fine on Revenue [Read Order]
The Supreme Court of India recently imposed costs of ₹2,00,000 on the Income Tax Department for launching prosecution against an accused on the basis of alleged tax evasion, in violation of binding...
![Income Tax Dept. Launched Evasion Prosecution Flouting CBDT Circulars: Supreme Court Slaps ₹2 Lakh Fine on Revenue [Read Order]](https://images.taxscan.in/h-upload/2025/09/01/500x300_2083061-supreme-court-fine-taxscan.webp "Income Tax Dept. Launched Evasion Prosecution Flouting CBDT Circulars: Supreme Court Slaps ₹2 Lakh Fine on Revenue [Read Order]")
Bank Passbook Evidence Validates Loan Transaction: ITAT deletes Addition u/s 68, Remands Interest Disallowance Issue [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai, ruled to delete an addition under Section 68 of the Income Tax Act, 1961, concerning unsecured loans. While granting this relief, the Tribunal...
![Bank Passbook Evidence Validates Loan Transaction: ITAT deletes Addition u/s 68, Remands Interest Disallowance Issue [Read Order]](https://images.taxscan.in/h-upload/2025/09/01/500x300_2082914-loan-itat-income-tax-taxscan.webp "Bank Passbook Evidence Validates Loan Transaction: ITAT deletes Addition u/s 68, Remands Interest Disallowance Issue [Read Order]")