![Telangana HC quashes Non-Faceless Income Tax Notices, rebukes Dept. for not following Established Precedents [Read Order]](https://images.taxscan.in/h-upload/2025/07/21/500x300_2066898-incometax-notice-taxscan.webp "Telangana HC quashes Non-Faceless Income Tax Notices, rebukes Dept. for not following Established Precedents [Read Order]")
Telangana HC quashes Non-Faceless Income Tax Notices, rebukes Dept. for not following Established Precedents [Read Order]
The Telangana High Court recently set aside income tax notices issued to a taxpayer, on the ground that the Income Tax Department failed to issue...
![Observations/Recommendations from Income Tax Bill Lok Sabha Committee Out [Read Press Release]](https://images.taxscan.in/h-upload/2025/07/21/250x150_2066956-income-tax-bill-updates-income-tax-bill-lok-sabha-committee-news-taxscan.webp "Observations/Recommendations from Income Tax Bill Lok Sabha Committee Out [Read Press Release]")
Partial Interest Disallowance Upheld u/s 57(iii): ITAT Dismisses Revenue Appeal on Nexus of Borrowed Funds for Interest Income [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) upheld the partial disallowance of interest expenditure under Section 57(iii) of the Income Tax Act, 1961, emphasizing the rule of...
![Partial Interest Disallowance Upheld u/s 57(iii): ITAT Dismisses Revenue Appeal on Nexus of Borrowed Funds for Interest Income [Read Order]](https://images.taxscan.in/h-upload/2025/07/20/500x300_2066274-interest-disallowance-itat-revenue-appeal-nexus-borrowed-funds-interest-income-taxscan.webp "Partial Interest Disallowance Upheld u/s 57(iii): ITAT Dismisses Revenue Appeal on Nexus of Borrowed Funds for Interest Income [Read Order]")
Arithmetic Mistake in Percentage Computation: ITAT Deletes ₹3.92 Cr Addition for Alleged Suppressed Revenue in Construction Project [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 3,92,66,722/- for alleged suppressed revenue in a construction project, citing an arithmetic mistake in the...
![Arithmetic Mistake in Percentage Computation: ITAT Deletes ₹3.92 Cr Addition for Alleged Suppressed Revenue in Construction Project [Read Order]](https://images.taxscan.in/h-upload/2025/07/20/500x300_2066261-arithmetic-mistake-percentage-computation-itat-alleged-suppressed-revenue-construction-project-taxscan.webp "Arithmetic Mistake in Percentage Computation: ITAT Deletes ₹3.92 Cr Addition for Alleged Suppressed Revenue in Construction Project [Read Order]")
Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that cash deposits in Specified Bank Notes (SBNs) received from disclosed debtors during the demonetization period cannot be treated...
![Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065896-itat-disclosed-debtors-unexplained-cash-taxscan.webp "Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]")
Interest from Cooperative Banks Eligible for 80P Deduction: ITAT Allows ₹12.53 Lakh Claim Treating Banks as Societies [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that interest earned from deposits/investments with cooperative banks qualifies for deduction under Section 80P(2)(d) of the Income ...
![Interest from Cooperative Banks Eligible for 80P Deduction: ITAT Allows ₹12.53 Lakh Claim Treating Banks as Societies [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065783-cooperative-banks-itat-80p-deduction-taxscan.webp "Interest from Cooperative Banks Eligible for 80P Deduction: ITAT Allows ₹12.53 Lakh Claim Treating Banks as Societies [Read Order]")
AO made One Sided Addition u/s 68 without Examining Evidence: ITAT Remits ₹7.17 Matter for Fresh Adjudication [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an addition of Rs. 7,17,35,323/- made under Section 68 and directed the Assessing Officer (AO) to conduct a fresh ...
![AO made One Sided Addition u/s 68 without Examining Evidence: ITAT Remits ₹7.17 Matter for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065739-examining-evidence-itat-evidence-taxscan.webp "AO made One Sided Addition u/s 68 without Examining Evidence: ITAT Remits ₹7.17 Matter for Fresh Adjudication [Read Order]")
Income Tax Bill 2025: Select Committee to Table Parliamentary Panel Report in Lok Sabha on 21 July
The Select Committee report on the landmark Income Tax Bill 2025 is set to be tabled in the Lok Sabha on July 21, coinciding with the opening day of the Parliament’s Monsoon session. The tabling of...
Gross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal filed by a charitable trust with a delay of 477 days and ruled that gross negligence on the part of the ...
![Gross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065787-gross-negligence-of-accountant-gross-negligence-accountant-not-a-ground-for-condonation-taxscan.webp "Gross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]")