![MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]](https://images.taxscan.in/h-upload/2025/06/27/500x300_2055280-itat-itat-kolkata-income-tax-unexplained-income-case-income-tax-appellate-tribunal-taxscan-1.webp "MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]")
MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the assessment order passed by the Assessing Officer (AO), which made ...
![ITAT upholds Revision on AOs Lapses in Verifying TDS on Rent and Unsecured Loans [Read Order]](https://images.taxscan.in/h-upload/2025/06/26/250x150_2054736-unsecured-loan-transaction-duly-substantiated-transaction-duly-itat-itat-upholds-deletion-itat-upholds-deletion-of-addition-taxscan-1.webp "ITAT upholds Revision on AOs Lapses in Verifying TDS on Rent and Unsecured Loans [Read Order]")
![S. 148A Notice Must Be Issued Before S. 147 Order: Jharkhand HC Quashes Order, Finds Lapse by Income Tax Dept [Read Order]](https://images.taxscan.in/h-upload/2025/06/26/250x150_2054677-notice-site-img.webp "S. 148A Notice Must Be Issued Before S. 147 Order: Jharkhand HC Quashes Order, Finds Lapse by Income Tax Dept [Read Order]")
![Co-op Society wins ₹10.14L Tax Relief: ITAT rules FDR Interest Eligible for 80P Deduction [Read Order]](https://images.taxscan.in/h-upload/2025/06/26/250x150_2054663-cooperative-society-taxscan.webp "Co-op Society wins ₹10.14L Tax Relief: ITAT rules FDR Interest Eligible for 80P Deduction [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]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty imposed for misreporting of income while directing the Commissioner of Income Tax (Appeals) ( CIT(A) ) to...
![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/2025/06/25/500x300_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]")
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]")
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]")
ITAT Quashes Assessment Orders on Grounds of Invalid Special Audit Reference: Allows Appeals of Legal Heirs [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, has quashed assessment orders passed against late Laxman Rao Banapuram for the assessment years 2014–15 and 2015–16, holding that the ...
![ITAT Quashes Assessment Orders on Grounds of Invalid Special Audit Reference: Allows Appeals of Legal Heirs [Read Order]](https://images.taxscan.in/h-upload/2025/06/24/500x300_2053605-itat-assessment-order-taxscan.webp "ITAT Quashes Assessment Orders on Grounds of Invalid Special Audit Reference: Allows Appeals of Legal Heirs [Read Order]")
Calcutta HC Quashes Order u/s 154 of Income Tax Act Passed Against Deceased, Allows Appeal Filed by Daughter-in-law of Deceased [Read Order]
The Calcutta HighCourt, in a recent ruling, quashed the order under section 154 of the IncomeTax Act, 1961, which was passed against the deceased, and allowed the petition filed by the...
![Calcutta HC Quashes Order u/s 154 of Income Tax Act Passed Against Deceased, Allows Appeal Filed by Daughter-in-law of Deceased [Read Order]](https://images.taxscan.in/h-upload/2025/06/24/500x300_2053533-income-tax-1.webp "Calcutta HC Quashes Order u/s 154 of Income Tax Act Passed Against Deceased, Allows Appeal Filed by Daughter-in-law of Deceased [Read Order]")
ITAT Sets Aside Penalty Order, Cites Denial of Fair Hearing Due to Improper E-Notice Delivery [Read Order]
The Income Tax Appellate Tribunal (ITAT) Lucknow has canceled a penalty order against a Raebareli taxpayer, ruling that authorities failed to provide a fair hearing by ignoring the assessee's...
![ITAT Sets Aside Penalty Order, Cites Denial of Fair Hearing Due to Improper E-Notice Delivery [Read Order]](https://images.taxscan.in/h-upload/2025/06/23/500x300_2053117-d0358ca8-9bcc-47a4-aadb-5f709f3e4963.webp "ITAT Sets Aside Penalty Order, Cites Denial of Fair Hearing Due to Improper E-Notice Delivery [Read Order]")