![Funds Declared in Settlement Proceedings Cannot Be Treated as Unexplained Loans: Delhi HC rejects Revenue Appeal in Income Tax Case [Read Order]](https://images.taxscan.in/h-upload/2025/11/04/500x300_2102300-funds-declared-settlement-proceedings-unexplained-loans-delhi-hc-revenue-appeal-income-tax-case-taxscan.webp "Funds Declared in Settlement Proceedings Cannot Be Treated as Unexplained Loans: Delhi HC rejects Revenue Appeal in Income Tax Case [Read Order]")
Funds Declared in Settlement Proceedings Cannot Be Treated as Unexplained Loans: Delhi HC rejects Revenue Appeal in Income Tax Case [Read Order]
The Delhi High Court has held that funds disclosed and taxed in proceedings before the Income Tax Settlement Commission cannot subsequently be...
![Penalty u/s 271(1)(c) Invalid when Notice Fails to Specify Charge and Irrelevant Limb not Struck Off: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/250x150_2095437-itat-penalty-taxscan.webp "Penalty u/s 271(1)(c) Invalid when Notice Fails to Specify Charge and Irrelevant Limb not Struck Off: ITAT [Read Order]")
![Income Tax Dept can Conduct Surprise Searches on Family’s Lockers over Suspicion of Undisclosed Assets: Delhi HC [Read Order]](https://images.taxscan.in/h-upload/2025/09/15/250x150_2087478-2041942-locker-rentals.webp "Income Tax Dept can Conduct Surprise Searches on Family’s Lockers over Suspicion of Undisclosed Assets: Delhi HC [Read Order]")
![ITAT Erred in Holding Vedanta’s Block Assessment Order Time-Barred: Madras HC Restores 25 Years Pending Matter to Tribunal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/06/Assessment-order-ITAT-Taxscan.jpg "ITAT Erred in Holding Vedanta’s Block Assessment Order Time-Barred: Madras HC Restores 25 Years Pending Matter to Tribunal [Read Order]")
![Paintings Gifted by Well-Known Artists: Delhi HC Confirms Through Diwali Cards and Signed Letters, Deletes ₹34.67 Lakh Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Delhi-High-Court-Gifted-paintings-Paintings-Gifted-by-Well-Known-Artists-taxscan.jpg "Paintings Gifted by Well-Known Artists: Delhi HC Confirms Through Diwali Cards and Signed Letters, Deletes ₹34.67 Lakh Addition [Read Order]")
![Income Already Disclosed: ITAT Deletes Unexplained Expenses and Stock Valuation Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Income-Already-Disclosed-ITAT-ITAT-Deletes-Unexplained-Expenses-Unexplained-Expenses-Unexplained-Expenses-and-Stock-Valuation-Addition-taxscan.jpg "Income Already Disclosed: ITAT Deletes Unexplained Expenses and Stock Valuation Addition [Read Order]")
Additions cannot be Made Without Incriminating Document: ITAT Set Asides Rs. 2 Crore Unexplained Cash Credit Addition [Read Order]
The Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an addition of Rs. 2 crore made under Section 68 of the Income Tax Act, ruling that no additions can be made without any...
![Additions cannot be Made Without Incriminating Document: ITAT Set Asides Rs. 2 Crore Unexplained Cash Credit Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Made-Without-Incriminating-Document-Incriminating-Document-ITAT-ITAT-Set-Unexplained-Cash-Credit-Unexplained-Cash-Credit-Addition-taxscan.jpg "Additions cannot be Made Without Incriminating Document: ITAT Set Asides Rs. 2 Crore Unexplained Cash Credit Addition [Read Order]")
ITAT dismisses Appeals, Sustains Additions for Unexplained items Found During Search, Citing Evidentiary Value [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Delhi Bench has dismissed the appeals filed by two companies and upheld the additions made by the Assessing Officer ( AO ) under Section 153A of the Income...
![ITAT dismisses Appeals, Sustains Additions for Unexplained items Found During Search, Citing Evidentiary Value [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Unexplained-Items-Citing-Evidentiary-Value-taxscan.jpg "ITAT dismisses Appeals, Sustains Additions for Unexplained items Found During Search, Citing Evidentiary Value [Read Order]")
ITAT deletes Rs. 3 lakh Income Addition, Finds proportionate Income already disclosed in return [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the Rs. 3 lakh income addition, ruling that the proportionate income was already disclosed in the tax return. Harish Jain,...
![ITAT deletes Rs. 3 lakh Income Addition, Finds proportionate Income already disclosed in return [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Income-Addition-Income-Tax-taxscan.jpg "ITAT deletes Rs. 3 lakh Income Addition, Finds proportionate Income already disclosed in return [Read Order]")
Budget 2025 proposes Amendment for Non-Applicability of Section 271AAB of the Income Tax Act in Certain Cases
Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on February 1st, 2025 at 11:00 AM before the Parliament. The FM proposed to amend section 271AAB of the Income Tax Act to...
PMLA Scam of Investment in Cloud Particles: Punjab & Haryana HC refuses to Defreeze Bank Account [Read Order]
In a scam of Huge transaction through induced investment in Cloud particles, the High Court of Punjab and Haryana has refused to de-freeze bank account of Vuenow Infotech Pvt. Ltd and directed...
![PMLA Scam of Investment in Cloud Particles: Punjab & Haryana HC refuses to Defreeze Bank Account [Read Order]](https://images.taxscan.in/h-upload/2025/06/03/500x300_2041103-pmla-scam-cloud-particles-investment-punjab-haryana-hc-defreeze-bank-account-high-court-cloud-particles-prevention-of-money-laundering-act-adjudicating-authority-complaint-taxscanjpg.webp "PMLA Scam of Investment in Cloud Particles: Punjab & Haryana HC refuses to Defreeze Bank Account [Read Order]")
Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted an income tax addition of ₹48,48,356, observing that the concerned Assessing Officer (AO) and precursory Commissioner of...
![Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Tax-Addition-Positive-Evidence-taxscan.jpg "Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]")