![Belated Return Filed u/s 139(4) Satisfies Proviso to S.201(1) of Income Tax Act: ITAT Allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-ITAT-Raipur-Income-Tax-Return-filing-TAXSCAN.jpg "Belated Return Filed u/s 139(4) Satisfies Proviso to S.201(1) of Income Tax Act: ITAT Allows Appeal [Read Order]")
Belated Return Filed u/s 139(4) Satisfies Proviso to S.201(1) of Income Tax Act: ITAT Allows Appeal [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal, stating that belated returns filed under Section 139(4) satisfy the...
![ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Cuttack-CITA-Commissioner-of-Income-Tax-Appeals-AO-assessing-officer-Evidence-TAXSCAN.webp "ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]")
![Self Funded Assets of Delhi Airport Metro Express: ITAT Upholds Depreciation Claimed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Delhi-Airport-Metro-Express.jpg "Self Funded Assets of Delhi Airport Metro Express: ITAT Upholds Depreciation Claimed [Read Order]")
![Chhattisgarh HC Directs to Treat Unexplained Cash Credit In Bank Account Would Be Treated As Income In Absence of Satisfactory Explanation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Bank-account-cash-credit-cases-TAXSCAN.jpg "Chhattisgarh HC Directs to Treat Unexplained Cash Credit In Bank Account Would Be Treated As Income In Absence of Satisfactory Explanation [Read Order]")
![Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-ITAT-Delhi-Ad-Hoc-TAXSCAN.jpg "Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]")
ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) ordered income estimation at 12.5% of gross receipts instead of disallowing entire entries as bogus due to potential expense...
![ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Services-in-Forms-Receipt-of-Patent-Registered-Outside-India-Patent-Registered-Outside-India-Receipt-of-Patent-cestat-taxscan.jpg "ITAT Orders Income Estimation at 12.5% of Gross Receipts Instead of Disallowing Entire Entries as Bogus Due to Potential Expense Inflation [Read Order]")
Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]
Recently, the Income Tax Appellate Tribunal ( ITAT ) in Delhi dismissed the appeal filed by the assessee, Shivam Leasing Pvt. Ltd., upholding a substantial income tax addition of ₹1.05 crore for the...
![Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-TAT-Delhi-TAXSCAN.jpg "Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in Reassessment [Read Order]")
S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Bank's Claim for Non- Rural Bad Debt Write Off [Read Order]
Recently in a decision, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore upheld a bank’s claim for the write-off of non-rural bad debts, overturning the Assessing Officer’s ( AO )...
![S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Banks Claim for Non- Rural Bad Debt Write Off [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Bangalore-Income-Tax-Income-Tax-Misinterpreted-Section36-of-Income-Tax-Non-Rural-Bad-Debt-taxscan.jpg "S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Banks Claim for Non- Rural Bad Debt Write Off [Read Order]")
No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the revision order for the re-examination of qualification as venture capital as there was no finding by the Commissioner...
![No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Chandigarh-CIT-Against-Claim-TAXSCAN.webp "No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]")
ITAT sets aside Ex-Parte addition of Rs. 29.5 lakh due to assessee’s Illness and Husband's Demise [Read Order]Â
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) sets aside the ex-parte order due to the assessee’s illness and husband's demise and grants a final hearing regarding the addition...
![ITAT sets aside Ex-Parte addition of Rs. 29.5 lakh due to assessee’s Illness and Husbands Demise [Read Order]Â](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Chandigarh-Income-Tax-Ex-parte-order-by-ITAT-TAXSCAN.jpeg "ITAT sets aside Ex-Parte addition of Rs. 29.5 lakh due to assessee’s Illness and Husbands Demise [Read Order]Â")
Relief to IDFC: ITAT Directs AO to Limit Disallowance u/s 14A to 0.5% of Exempt Income Earned Based on Rule 8D(2)(iii) [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to limit the disallowance under Section 14A to 0.5% of exempt income earned by the assessee based on Rule...
![Relief to IDFC: ITAT Directs AO to Limit Disallowance u/s 14A to 0.5% of Exempt Income Earned Based on Rule 8D(2)(iii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Chennai-IDFC-AO-Disallowance-Taxscan.jpg "Relief to IDFC: ITAT Directs AO to Limit Disallowance u/s 14A to 0.5% of Exempt Income Earned Based on Rule 8D(2)(iii) [Read Order]")
ITAT Quashes Reassessment Over Invalid Rs.10 Lakh Addition, Citing Intraday Profit Below Threshold [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the ₹10 lakh reassessment, ruling it invalid due to an intraday profit of Rs.49,792 falling below the threshold for reopening...
![ITAT Quashes Reassessment Over Invalid Rs.10 Lakh Addition, Citing Intraday Profit Below Threshold [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-ITAT-Ahmedabad-Reassessment-in-income-tax-TAXSCAN.jpeg "ITAT Quashes Reassessment Over Invalid Rs.10 Lakh Addition, Citing Intraday Profit Below Threshold [Read Order]")