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Zero Tax up to Rs. 12.75 Lakh u/s 87A, But Will Short-Term Capital Gains Still Attract Income Tax?
Introduction Imagine earning ₹12.5 lakh a year from your salaried job and not paying a single penny as income tax. Sounds incredible? This is...
![Night-Time Notice, 1-Day Deadline? ITAT Calls Out Income Tax Depts Rush, Grants Relief in TDS Dispute [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/250x150_2077486-deadline-itat-income-tax-grants-relief-tds-taxscan.webp "Night-Time Notice, 1-Day Deadline? ITAT Calls Out Income Tax Depts Rush, Grants Relief in TDS Dispute [Read Order]")
![ITAT Grants Relief to Assessee, Orders Fresh Hearing as CIT(A) Failed to Discuss Case Merits [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/250x150_2077469-itat-fresh-hearing-cita-taxscan.webp "ITAT Grants Relief to Assessee, Orders Fresh Hearing as CIT(A) Failed to Discuss Case Merits [Read Order]")
![ITAT Weekly Round Up [August 10th - August 16th]](https://images.taxscan.in/h-upload/2025/08/16/250x150_2077449-itat-weekly-round-up-taxscan.webp "ITAT Weekly Round Up [August 10th - August 16th]")
Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of the Commissioner of Income Tax (Appeals) ( CIT(A) ) restricting disallowance on alleged bogus purchases to 12.5%...
![Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077434-bogus-purchases-itat-penalty-taxscan.webp "Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]")
![Calcutta HC Dismisses Writ Petition as Income Tax Dept Not Interested to pursue Demand u/s 143 [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077394-calcutta-high-court-income-tax-department-taxscan.webp "Calcutta HC Dismisses Writ Petition as Income Tax Dept Not Interested to pursue Demand u/s 143 [Read Order]")
![Income Tax Appeal cannot merely File due to exceeding Monetary limit: Chhattisgarh HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077343-income-tax-appeal-taxscan.webp "Income Tax Appeal cannot merely File due to exceeding Monetary limit: Chhattisgarh HC [Read Order]")
