![Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/500x300_2059947-business-receipts-is-substantiated-source-business-receipts-substantiated-source-taxscan.webp "Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read Order]")
Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) has overturned the addition of Rs. 5,01,500 made by the Assessing Officer (AO) under...
![ITAT Dismisses Rs. 6.80 Cr Addition u/s 69A as Finds Transactions Duly Recorded and Explained by Assessee [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/250x150_2059942-itat-itat-dismisses-rs-680-cr-addition-addition-of-section-69a-transactions-duly-taxscan.webp "ITAT Dismisses Rs. 6.80 Cr Addition u/s 69A as Finds Transactions Duly Recorded and Explained by Assessee [Read Order]")
![ITAT Sets Aside Best Judgment Assessment u/s 144, Orders Fresh Hearing Noting Prior Grant of S.11 Exemption [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/250x150_2059926-itat-itat-sets-aside-best-judgment-assessment-judgment-assessment-orders-fresh-hearing-taxscan.webp "ITAT Sets Aside Best Judgment Assessment u/s 144, Orders Fresh Hearing Noting Prior Grant of S.11 Exemption [Read Order]")
![Co-op Bank Fails to Prove Identity and Creditworthiness of Depositors: ITAT upholds S. 68 addition and dismisses claim u/s 80P(2)(i)(a) [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/250x150_2059912-co-op-bank-fails-to-prove-identity-and-creditworthiness-co-op-bank-fails-to-prove-identity-taxscan.webp "Co-op Bank Fails to Prove Identity and Creditworthiness of Depositors: ITAT upholds S. 68 addition and dismisses claim u/s 80P(2)(i)(a) [Read Order]")
![ITAT Remands Case After Assessee Submits Cash Summaries, Audit Report, and Valuation Documents for Reconsideration [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/250x150_2059890-itat-itat-remands-case-itat-remands-case-after-assessee-submits-cash-summaries-taxscan.webp "ITAT Remands Case After Assessee Submits Cash Summaries, Audit Report, and Valuation Documents for Reconsideration [Read Order]")
‘Detailed Enquiry and Proper Application of Mind by AO While Allowing Deduction u/s 80P(2)(d)’: ITAT Quashes PCIT’s Revision Order [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) quashed the revision order passed by the Principal Commissioner of Income Tax (PCIT)-3, Pune, under Section 263 of the Income-tax Act,...
![‘Detailed Enquiry and Proper Application of Mind by AO While Allowing Deduction u/s 80P(2)(d)’: ITAT Quashes PCIT’s Revision Order [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/500x300_2059883-detailed-enquiry-detailed-enquiry-and-proper-application-of-mind-by-ao-proper-application-of-mind-by-ao-taxscan.webp "‘Detailed Enquiry and Proper Application of Mind by AO While Allowing Deduction u/s 80P(2)(d)’: ITAT Quashes PCIT’s Revision Order [Read Order]")
CIT(A) Ignores Reply & Computation Showing Income Variation: ITAT Remands for Denovo Adjudication [Read Order]
The Indore Bench of the Income Tax Appellate Tribunal (ITAT) in its recent ruling set aside an order passed by theCommissioner of Income Tax (Appeals) ( CIT(A) ) and remanded the matter for denovo...
![CIT(A) Ignores Reply & Computation Showing Income Variation: ITAT Remands for Denovo Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/07/06/500x300_2059825-cita-cita-ignores-reply-computation-showing-income-variation-showing-income-variation-taxscan.webp "CIT(A) Ignores Reply & Computation Showing Income Variation: ITAT Remands for Denovo Adjudication [Read Order]")
Selecting Wrong Income Tax Section Code/Clause would Not Disentitle Appellant to Rightful Claim: ITAT directs de novo Hearing [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Selection of the wrong clause by the appellant cannot be treated as fatal to the proceedings initiated after the filing...
![Selecting Wrong Income Tax Section Code/Clause would Not Disentitle Appellant to Rightful Claim: ITAT directs de novo Hearing [Read Order]](https://images.taxscan.in/h-upload/2025/07/05/500x300_2059618-selecting-wrong-income-tax-income-tax-selecting-wrong-income-tax-section-code-clause-taxscan.webp "Selecting Wrong Income Tax Section Code/Clause would Not Disentitle Appellant to Rightful Claim: ITAT directs de novo Hearing [Read Order]")
![ITAT Weekly Round-Up [ June 26th - July 5th ]](https://images.taxscan.in/h-upload/2025/07/05/500x300_2059516-itat-weekly-round-up-weekly-round-up-round-up-itat-weekly-round-up-for-june-taxscan.webp "ITAT Weekly Round-Up [ June 26th - July 5th ]")
Income Tax Dept Arbitrarily Recovers Demand from Refund While Appeal Pending: Madras HC Orders Refund, Stays Recovery [Read More]
In a recent ruling, the Madras High Court directed the Income Tax Department to refund Rs. 3 crore to Greaves Electric Mobility Limited and to stay recovery proceedings while the company’s appeal...
![Income Tax Dept Arbitrarily Recovers Demand from Refund While Appeal Pending: Madras HC Orders Refund, Stays Recovery [Read More]](https://images.taxscan.in/h-upload/2025/07/05/500x300_2059553-refund-stays-recovery-arbitrarily-tax-recovery-income-tax-dept-taxscan.webp "Income Tax Dept Arbitrarily Recovers Demand from Refund While Appeal Pending: Madras HC Orders Refund, Stays Recovery [Read More]")
Deduction u/s 80P(2)(d) allowable to Co-Op Society on Interest Income from co-op banks: ITAT rules in Favour of Bangalore Credit Co- operative Society [Read Order]
In a recent case, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that Bangalore Credit Cooperative Society is entitled to a deduction under Section 80P(2)(a)(i) of the ...
![Deduction u/s 80P(2)(d) allowable to Co-Op Society on Interest Income from co-op banks: ITAT rules in Favour of Bangalore Credit Co- operative Society [Read Order]](https://images.taxscan.in/h-upload/2025/07/05/500x300_2059539-coperative-society-taxscan.webp "Deduction u/s 80P(2)(d) allowable to Co-Op Society on Interest Income from co-op banks: ITAT rules in Favour of Bangalore Credit Co- operative Society [Read Order]")