![₹1 Crore Addition for Unexplained Loans: ITAT Deletes Addition due to Sufficient Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Unexplained-Loans-Loans-Sufficient-Evidence-taxscan.jpg "₹1 Crore Addition for Unexplained Loans: ITAT Deletes Addition due to Sufficient Evidence [Read Order]")
₹1 Crore Addition for Unexplained Loans: ITAT Deletes Addition due to Sufficient Evidence [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the ₹1 crore addition made under Section 68 of Income Tax Act,1961 for unexplained...
![Non-compliance with GST Appeal Limitation and failure to utilize Amnesty Scheme: Patna HC upholds GST registration cancellation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/GST-GST-Registration-GST-registration-cancellation-Patna-High-Court-GST-Appeal-Limitation-Taxscan.jpg "Non-compliance with GST Appeal Limitation and failure to utilize Amnesty Scheme: Patna HC upholds GST registration cancellation [Read Order]")
![Non-discharge of Onus of Proof by AO: Bombay HC quashes treatment of Purchase Expenses as Bogus [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-Income-Tax-Appellate-Tribunal-Bombay-High-Court-Revenue-Department-TAXSCAN.jpg "Non-discharge of Onus of Proof by AO: Bombay HC quashes treatment of Purchase Expenses as Bogus [Read Order]")
Gauhati HC invalidates Reassessment Order u/s 40 of Assam VAT Act, Citing Late Filing of Returns and Lapse of Five Year Assessment Limitation [Read Order]
The Gauhati High Court has invalidated a reassessment order passed under Section 40 of the Assam Value Added Tax ( VAT ) Act, 2003 citing late filing of tax returns rendering the self assessment...
![Gauhati HC invalidates Reassessment Order u/s 40 of Assam VAT Act, Citing Late Filing of Returns and Lapse of Five Year Assessment Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Gauhati-high-court-Gauhati-hc-Reassessment-order-under-Section-40-TAXSCAN.jpg "Gauhati HC invalidates Reassessment Order u/s 40 of Assam VAT Act, Citing Late Filing of Returns and Lapse of Five Year Assessment Limitation [Read Order]")
ICAI Proposes Income Tax Deductions for Girl Child Education, Green Projects and Skill Development Projects
The Institute of Chartered Accountants of India ( ICAI ) has presented its Pre-Budget Memorandum 2024 to the Central Board of Direct Taxes ( CBDT ), proposing a series of tax reforms aimed at...
Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices
Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations,...
Tax Authorities to Scrutinise Swiss Bank Account Data of Indian Nationals, Says CBDT Chairman Nitin Gupta
Nitin Gupta, Chairman of the Central Board of Direct Taxes (CBDT), emphasized the proactive stance of the Indian Income Tax Department in reviewing bank accounts held by Indian individuals and...
