![ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-AO-issues-Opening-Balance-TAXSCAN.jpg "ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]")
ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal ( ITAT ) has restored the case to the Assessing Officer ( AO ) for proper verification of the...
![Section 80IA Deduction not allowable for Belated Income Tax Returns: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-Returns-Income-Tax-Appellate-Tribunal-Income-Tax-Calcutta-High-Court-ITAT-Nagpur-Section-80IA-Deduction-taxscan.jpg "Section 80IA Deduction not allowable for Belated Income Tax Returns: ITAT [Read Order]")
![Non-mentioning of Reason for dismissal of appeal by CIT(A): ITAT remands Income Tax matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ranchi-ITAT-Appeal-CIT-under-ITAT-TAXSCAN.jpeg "Non-mentioning of Reason for dismissal of appeal by CIT(A): ITAT remands Income Tax matter [Read Order]")
![AO lacked Jurisdiction to Initiate Proceedings: ITAT quashes Order u/s 153C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Assessing-Officer-section-153C-of-the-Income-Tax-Income-Tax-Appellate-Tribunal-Jurisdiction-Taxscan.jpg "AO lacked Jurisdiction to Initiate Proceedings: ITAT quashes Order u/s 153C of Income Tax Act [Read Order]")
![ITAT allows LTCG Exemption u/s 54 of Income Tax Act in spite of Filing Belated ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-ITAT-Ahmedabad-ITR-Filing-TAXSCAN.jpg "ITAT allows LTCG Exemption u/s 54 of Income Tax Act in spite of Filing Belated ITR [Read Order]")
![Income Tax Deposit already made under IDS: Bombay HC directs Dept to Issue Certificates [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Bombay-HC-Income-tax-IDS-scheme-IDS-2016-TAXSCAN.jpg "Income Tax Deposit already made under IDS: Bombay HC directs Dept to Issue Certificates [Read Order]")
Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s 17(2)(iiia) of Income Tax Act: Delhi HC [Read Order]
The Delhi High Court emphasized that no tax could be levied on notional income, ruling that the Valuation Report obtained by the employer was inapplicable to shares subject to a lock-in stipulation...
![Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s 17(2)(iiia) of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Delhi-HC-ESPS-Employee-Stock-Purchase-Scheme-TAXSCAN.jpg "Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s 17(2)(iiia) of Income Tax Act: Delhi HC [Read Order]")
Delhi HC Directs Trial Court to Release Rs. 25 Lakh FDR to Petitioner Citing Absence of Fresh LOC [Read Order]
In a recent judgment, the Delhi High Court directed the trial court to release the Rs. 25 lakh Fixed Deposit Receipt (FDR) to the petitioner, citing the absence of a fresh Look-Out Circular (LOC). ...
Absence of Incriminating Evidence warranting Abatement of Assessment: ITAT deletes Additions on sale of Agricultural Land [Read Order]
The Nagpur Bench of the Income Tax Appellate Tribunal ( ITAT ) recently laid down a decision affirming the need for conclusive incriminating evidence to abate an Assessment filed by an Assessee. ...
![Absence of Incriminating Evidence warranting Abatement of Assessment: ITAT deletes Additions on sale of Agricultural Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Sale-of-Agricultural-Land-Income-Tax-Assessment-ITAT-TAXSCAN.jpg "Absence of Incriminating Evidence warranting Abatement of Assessment: ITAT deletes Additions on sale of Agricultural Land [Read Order]")
Income Tax Calculation Mistake u/s 115BBE of Income Tax Act can be Rectified only via Section 154, not Section 263: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Ahmedabad recently in a case held that the Income Tax calculation mistake made by the Assessing Officer ( AO ) under section 115BBE of the Income Tax Act...
![Income Tax Calculation Mistake u/s 115BBE of Income Tax Act can be Rectified only via Section 154, not Section 263: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Income-and-Tax-Calculator-Income-Tax-Calculation-Mistake-TAXSCAN.jpeg "Income Tax Calculation Mistake u/s 115BBE of Income Tax Act can be Rectified only via Section 154, not Section 263: ITAT [Read Order]")
Undeclared Foreign Income from House Property and Other Sources Declared in Rectified ITR: ITAT deletes Penalty u/s 271 [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty of Rs.9,24,760 levied under section 271(1)(c) of the Income Act, 1961 for furnishing inaccurate particulars leading...
![Undeclared Foreign Income from House Property and Other Sources Declared in Rectified ITR: ITAT deletes Penalty u/s 271 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-Foreign-Income-House-Property-Income-tax-return-ITAT-deletes-Penalty-taxscan.jpg "Undeclared Foreign Income from House Property and Other Sources Declared in Rectified ITR: ITAT deletes Penalty u/s 271 [Read Order]")