![Auditor affected with Covid Causes Delay in Form 10B Report Filing: Madras HC Condones 44-Day Delay with ₹5,000 Cost [Read Order]](https://images.taxscan.in/h-upload/2025/06/26/500x300_2054527-madras-high-court-form-10b-report-filing-delay-condones-delay-taxscan.webp "Auditor affected with Covid Causes Delay in Form 10B Report Filing: Madras HC Condones 44-Day Delay with ₹5,000 Cost [Read Order]")
Auditor affected with Covid Causes Delay in Form 10B Report Filing: Madras HC Condones 44-Day Delay with ₹5,000 Cost [Read Order]
The Madras High Court condoned a 44-day delay in filing Form 10B required for income tax exemption claims observing that the delay was due to the ...
![ITAT Deletes Addition u/s 68, Rules Assessee Proved Source of Funds for Land Purchases in Earlier Years [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/250x150_2054400-land-purchases-source-of-funds-assessee-taxscan.webp "ITAT Deletes Addition u/s 68, Rules Assessee Proved Source of Funds for Land Purchases in Earlier Years [Read Order]")
![ITAT Upholds CIT(A) Order: No Addition u/s 68 for Share Capital and Unsecured Loans as Assessee Proves Identity, Creditworthiness, and Genuineness [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/250x150_2054392-share-capital-and-unsecured-loans-taxscan.webp "ITAT Upholds CIT(A) Order: No Addition u/s 68 for Share Capital and Unsecured Loans as Assessee Proves Identity, Creditworthiness, and Genuineness [Read Order]")
![ITAT sets aside Income Tax Penalty on Fruit Dealer for Misreporting, Directs CIT(A) to Reconsider Immunity Despite Form 68 Lapse [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/250x150_2054364-2041840-penalty-us-2711c-estimated-itat-penalty-absence-concealment-taxscan.webp "ITAT sets aside Income Tax Penalty on Fruit Dealer for Misreporting, Directs CIT(A) to Reconsider Immunity Despite Form 68 Lapse [Read Order]")
![Income Tax Payer Unable to Opt for Hearing Due to Portal Glitch: Madras HC Remands Case directing to Pay ₹10K to Govt Naturopathy Med. College [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/250x150_2054425-madras-high-court-income-tax-payer-portal-glitch-taxscan.webp "Income Tax Payer Unable to Opt for Hearing Due to Portal Glitch: Madras HC Remands Case directing to Pay ₹10K to Govt Naturopathy Med. College [Read Order]")
![S.11 & 12 Exemption Cannot Be Denied Merely Due to Delayed Registration of Trust: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054350-itat-registration-of-trust-exemption-taxscan.webp "S.11 & 12 Exemption Cannot Be Denied Merely Due to Delayed Registration of Trust: ITAT [Read Order]")
ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the inclusion of five additional companies as comparables for transfer pricing benchmarking and quashing a transfer pricing...
![ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054339-itat-mumbai-companies-transfer-pricing-quashes-tax-assessment-taxscan.webp "ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]")
ITAT Remands Rejection of Charitable Trust Registration Due to Insufficient Verification of Seminar Expenses and TDS Deductions [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has remanded the rejection of applications for registration citing insufficient verification of seminar expenses and TDS deductions by the...
![ITAT Remands Rejection of Charitable Trust Registration Due to Insufficient Verification of Seminar Expenses and TDS Deductions [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054269-charitable-trusts-taxscan.webp "ITAT Remands Rejection of Charitable Trust Registration Due to Insufficient Verification of Seminar Expenses and TDS Deductions [Read Order]")
Defective Income Tax Notice Invalidates S. 271(1)(C) Proceedings: ITAT Deletes Penalty [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty of Rs. 13,44,580 imposed under Section 271(1)(c) of the IncomeTax Act, 1961, citing the defective income tax notice...
![Defective Income Tax Notice Invalidates S. 271(1)(C) Proceedings: ITAT Deletes Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054276-penalty-income-tax-act-imposed-for-mistake-by-accountant-itat-taxscan.webp "Defective Income Tax Notice Invalidates S. 271(1)(C) Proceedings: ITAT Deletes Penalty [Read Order]")
ITAT Holds Peak Credit Theory Not Applicable in Undisclosed Income Gold Stock Case; Directs AO to Verify Details as per CBDT SOP/Guidelines [Read Order]
The Surat bench of the Income Tax Appellate Tribunal (ITAT) has held that the theory of peak credit is inapplicable in a case involving undisclosed income channeled through bogus gold trade...
![ITAT Holds Peak Credit Theory Not Applicable in Undisclosed Income Gold Stock Case; Directs AO to Verify Details as per CBDT SOP/Guidelines [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054189-income-gold-stock-case.webp "ITAT Holds Peak Credit Theory Not Applicable in Undisclosed Income Gold Stock Case; Directs AO to Verify Details as per CBDT SOP/Guidelines [Read Order]")
Hiring of Charter Plane cannot be Treated as a Payment made for Professional or Technical Services: ITAT remands matter [Read Order]
In a recent case, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that hiring a charter plane cannot be treated as a payment made for professional or technical services ...
![Hiring of Charter Plane cannot be Treated as a Payment made for Professional or Technical Services: ITAT remands matter [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054144-whatsapp-image-2025-06-25-at-101439-am.webp "Hiring of Charter Plane cannot be Treated as a Payment made for Professional or Technical Services: ITAT remands matter [Read Order]")
ITAT directs De Novo Proceedings due to lack of Evidence to substantiate Deffered Revenue in P & L account [Read Order]
In a recent case, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) directs de novo proceedings due to lack of evidence to substantiate deferred revenue in the profit & loss...
![ITAT directs De Novo Proceedings due to lack of Evidence to substantiate Deffered Revenue in P & L account [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054147-itat-directs-novo-proceedings-taxscan.webp "ITAT directs De Novo Proceedings due to lack of Evidence to substantiate Deffered Revenue in P & L account [Read Order]")