![Escaped Income Below ₹50 Lakh: Delhi HC quashes Reassessment as Beyond 3-Year Time Limit [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Delhi-high-court-site-img.jpg "Escaped Income Below ₹50 Lakh: Delhi HC quashes Reassessment as Beyond 3-Year Time Limit [Read Order]")
Escaped Income Below ₹50 Lakh: Delhi HC quashes Reassessment as Beyond 3-Year Time Limit [Read Order]
In a recent ruling, the Delhi High Court quashed an income tax reassessment, holding that reassessment proceedings could not be sustained beyond the...
![Penalty under Income Tax not Imposable for Cash Repayment of Loan on Lender’s Instruction to Curb Interest Escalation: Chhattisgarh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Income-Tax-Act-Cash-Transaction-Overview-of-Cash-Transaction-tax-evasion-non-cash-payments-reduce-tax-evasion-Cash-Transaction-Provisions-taxscan.jpg "Penalty under Income Tax not Imposable for Cash Repayment of Loan on Lender’s Instruction to Curb Interest Escalation: Chhattisgarh HC [Read Order]")
![ITAT Upholds CIT(A)’s Order Allowing 50% Depreciation on CNC Lathe Used Prior to Detection of Defect [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/CNC-Lathe.jpg "ITAT Upholds CIT(A)’s Order Allowing 50% Depreciation on CNC Lathe Used Prior to Detection of Defect [Read Order]")
![Minor’s Income Already Clubbed in Mother’s Return Cannot Be Re-opened in Father’s Hands: ITAT Quashes Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Minor-income-tax.jpg "Minor’s Income Already Clubbed in Mother’s Return Cannot Be Re-opened in Father’s Hands: ITAT Quashes Proceedings [Read Order]")
![Excess Expenditure Does Not Bar 15% Accumulation Claim u/s 11(1)(a): ITAT Relieves Rajasthan Cricket Association [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/rajasthan-cricket-site-img.jpg "Excess Expenditure Does Not Bar 15% Accumulation Claim u/s 11(1)(a): ITAT Relieves Rajasthan Cricket Association [Read Order]")
ITAT Confirms CIT(A)’s Deletion of Rs.1.82 Crore Addition as Revenue Fails to Produce Contrary Evidence [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) confirmed the Commissioner of Income Tax (Appeals) [CIT(A)]’s deletion of Rs. 1.82 crore addition as revenue failed to produce contrary...
![ITAT Confirms CIT(A)’s Deletion of Rs.1.82 Crore Addition as Revenue Fails to Produce Contrary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-Income-tax-Income-tax-news-Tax-news-Corroborative-Evidence-taxscan-1.jpg "ITAT Confirms CIT(A)’s Deletion of Rs.1.82 Crore Addition as Revenue Fails to Produce Contrary Evidence [Read Order]")
“Cash Deposits Only results in ‘Reason to Suspect’, Not ‘Reason to Believe’”: ITAT Quashes Reassessment Proceedings for 2 AYs [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal quashed the reassessment proceedings for 2 assessment years (AY) as the bench noted that no returns had been filed on the cash deposits only...
![“Cash Deposits Only results in ‘Reason to Suspect’, Not ‘Reason to Believe’”: ITAT Quashes Reassessment Proceedings for 2 AYs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/reassessment-proceedings.jpg "“Cash Deposits Only results in ‘Reason to Suspect’, Not ‘Reason to Believe’”: ITAT Quashes Reassessment Proceedings for 2 AYs [Read Order]")
ITAT Allows Final Opportunity to Justify Rs. 34 Lakh Deposits, Cites Fresh Evidence as Reason [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench has directed tax authorities to reconsider a case involving unexplained cash deposits of Rs 34.01 lakh, providing the taxpayer one final chance to...
![ITAT Allows Final Opportunity to Justify Rs. 34 Lakh Deposits, Cites Fresh Evidence as Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-addition-Cash-Deposits-Bank-Accounts-failure-explain-Sources-TAXSCAN.jpg "ITAT Allows Final Opportunity to Justify Rs. 34 Lakh Deposits, Cites Fresh Evidence as Reason [Read Order]")
Major Relief to DLF as ITAT upholds Deletion of ₹6000+ Crore Addition, Dismisses Revenue’s Appeal [Read Order]
The Delhi bench of Income tax appellate tribunal ( ITAT ) has upheld the deletion of additions of Rs. 6000+ crores on DLF Ltd accepting the revenue recognition as per Percentage of Completion Method...
![Major Relief to DLF as ITAT upholds Deletion of ₹6000+ Crore Addition, Dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/dlf.jpg "Major Relief to DLF as ITAT upholds Deletion of ₹6000+ Crore Addition, Dismisses Revenue’s Appeal [Read Order]")
GSTN Enables Biometric-based Aadhaar Authentication & Document Verification with Slot Booking Across India
The Goods and Services Tax Network (GSTN) has now enabled Biometric-based Aadhaar Authentication and Document Verification with Slot Booking for new GST registrations across all States and Union...
![ITAT Deletes Rs. 2.72 Crore Penalty as Additions in Quantum Assessment Were Deleted [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Quantum-assessment.jpg "ITAT Deletes Rs. 2.72 Crore Penalty as Additions in Quantum Assessment Were Deleted [Read Order]")
ITAT Cuts Estimated 20% Profit Rate to 12.5% in Bogus Purchase Case Calling It Excessive, remanded for Recomputation [Read Order]
In a recent decision, the Income Tax Appellate Tribunal (ITAT) Delhi Bench, held that the estimated profit rate of 20% applied on account of unsubstantiated purchases was excessive. The tribunal...
![ITAT Cuts Estimated 20% Profit Rate to 12.5% in Bogus Purchase Case Calling It Excessive, remanded for Recomputation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-Ahmedabad-income-tax-Bogus-Purchases-Citing-Genuine-Sales-Taxscan.jpg "ITAT Cuts Estimated 20% Profit Rate to 12.5% in Bogus Purchase Case Calling It Excessive, remanded for Recomputation [Read Order]")