![ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-Income-tax-addition-ITAT-Delhi-ITAT-Deletes-Income-Tax-Addition-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]")
ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition under section 68 of the Income Tax Act, 1961 made on cash deposits...
![ITAT sets aside Income Tax Reassessment completed without Providing a Copy of the Reasons [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Raipur-Bench-income-tax-reassessment-Raipur-income-Tax-ITAT-Raipur-taxcan-1.jpg "ITAT sets aside Income Tax Reassessment completed without Providing a Copy of the Reasons [Read Order]")
![Issuance of Reassessment Notices u/s 148 of Income Tax Act: CBDT issues Guidelines [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/07/CBDT-Income-tax-Reassessment-Notice-CBDT-notification-Central-Board-of-Direct-Taxes-taxscan.jpg "Issuance of Reassessment Notices u/s 148 of Income Tax Act: CBDT issues Guidelines [Read Notification]")
![Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-Cooperative-Society-TAXSCAN.jpg "Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]")
![Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Kerala-High-Court-Kerala-HC-Capital-Gains-Income-Tax-Act-Capital-Gains-Tax-Transfer-of-Depreciable-taxscan.webp "Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]")
Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]
The Gujarat High Court has ruled that admission fees paid to a charitable educational trust can be considered a corpus donation and are thus eligible for exemption under Section 11(1)(d) of the...
![Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Gujarat-High-Court-Gujarat-HC-Income-Tax-Act-Income-Tax-Corpus-Donation-capitation-fee-taxscan.jpg "Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]")
Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]
The two member bench of the Income Tax Appellate Tribunal ( ITAT ) Delhi, dismissed the taxpayer's appeal after they claimed assessment under section 44AD without maintaining day-to-day regular books...
![Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Day-to-day-regular-books-of-account-Taxpayer-Appeal-Regular-books-of-account-taxscan.jpg "Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]")
ITAT deletes Penalty u/s  271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]
The Bangalore of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under section 271 D of the Income Tax Act, 1961 as it proved reasonable cause to treat the assessee as bonafide. The...
![ITAT deletes Penalty u/s  271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Bangalore-Reasonable-Cause-Penalty-Deletion-taxscan.jpg "ITAT deletes Penalty u/s  271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]")
Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]
The Kerala High Court condoned the delay of 11 days as the delay in filing an Income Tax appeal occurred due to the non-availability of a legal consultant. The court observed that filing an appeal in...
![Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Appeal-Kerala-High-Court-Kerala-HC-Legal-Consultant-TAXSCAN-1.jpg "Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]")
Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]
In a recent case, the Calcutta High Court allowed the deduction under section 80-ic(2)(a)(i) of the Income Tax Act for the manufacture of Mouth Freshener ( Pan Masala Without Tobacco ) Unicorn...
![Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Income-Tax-Mouth-Freshener-Mouth-freshener-Without-Tobacco-taxscan-1.jpg "Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]")
Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]
The Gujarat High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to allow income tax deduction for payment made to clear a mortgage, dismissing the appeal filed by the...
![Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Deduction-Income-Tax-TAXSCAN.jpg "Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]")
Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]
In a recent case, the Calcutta High Court Upheld the ITAT order which held that the application of a net profit rate of 8% on gross receipts under contract is valid unless illegality is proven. ...
![Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]")