Purchases on Behalf of Ex-UP Principals Not Taxable u/s 30(1) of UP Trade Tax Act: SC Dismisses Revenue Appeal
The Supreme Court of India held that purchases made on behalf of Ex-UP Principals were not taxable under Section 30(1) of the UP Trade Tax Act and...
![INR 25 Lakh Cash Contribution by Directors Treated as Unexplained: ITAT Sets Aside CIT(A) Order, Directs Fresh Hearing [Read Order]](https://images.taxscan.in/h-upload/2025/09/05/250x150_2084152-cash-contribution-taxscan.webp "INR 25 Lakh Cash Contribution by Directors Treated as Unexplained: ITAT Sets Aside CIT(A) Order, Directs Fresh Hearing [Read Order]")
![Dispute Over ₹39.91 Lakh Time Deposit with Bank of Baroda: ITAT Remands Matter to AO for Readjudication [Read Order]](https://images.taxscan.in/h-upload/2025/09/04/250x150_2083939-itat-ranchi-bank-of-baroda-income-tax-act-taxscan.webp "Dispute Over ₹39.91 Lakh Time Deposit with Bank of Baroda: ITAT Remands Matter to AO for Readjudication [Read Order]")
![Taxing Corresponding Interest Income on Asset Transfer to SPVs on Assessee amounts to Double Taxation: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/09/04/250x150_2083937-double-taxation-taxscan.webp "Taxing Corresponding Interest Income on Asset Transfer to SPVs on Assessee amounts to Double Taxation: ITAT [Read Order]")
![Relief to Thermo Fisher: ITAT allows Depreciation Claim on Supply & Maintenance Contracts Acquired via Slump Sale [Read Order]](https://images.taxscan.in/h-upload/2025/08/30/250x150_2082141-thermo-fisher.webp "Relief to Thermo Fisher: ITAT allows Depreciation Claim on Supply & Maintenance Contracts Acquired via Slump Sale [Read Order]")
Section 56(2)(vii)(b)(ii) does Not Apply to Land Purchase Made Prior to 1st April 2014: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Lucknow bench, deleted the addition made under Section 56(2)(vii)(b)(ii) of the Income Tax Act, 1961, holding that the provision is prospective and applies...
![Section 56(2)(vii)(b)(ii) does Not Apply to Land Purchase Made Prior to 1st April 2014: ITAT deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/08/29/500x300_2081862-profit-twin-land-transactions-taxable-business-income-not-capital-income-itat-taxscan-1.webp "Section 56(2)(vii)(b)(ii) does Not Apply to Land Purchase Made Prior to 1st April 2014: ITAT deletes Addition [Read Order]")
Reassessment against Struck-Off Company Void-Ab-Initio: ITAT Relies on Zauba Corp and MCA Records Confirming Strike-Off Status [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad ruled that the reassessment against struck-off company is void-ab-initio. The tribunal confirmed the strike off of the company from Zauba Corp...
![Reassessment against Struck-Off Company Void-Ab-Initio: ITAT Relies on Zauba Corp and MCA Records Confirming Strike-Off Status [Read Order]](https://images.taxscan.in/h-upload/2025/08/29/500x300_2081831-reassessment-itat-taxscan.webp "Reassessment against Struck-Off Company Void-Ab-Initio: ITAT Relies on Zauba Corp and MCA Records Confirming Strike-Off Status [Read Order]")
ITAT Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition of Rs. 84,79,100 after rejecting the assessee’s claim of long-term capital gains (LTCG) on penny stock transactions, ...
![ITAT Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]](https://images.taxscan.in/h-upload/2025/08/28/500x300_2081319-itat-rejects-penny-stock-ltcg-claim.webp "ITAT Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]")
Unaccounted Sales Addition Based on 89% Estimated Yield Found Unsustainable without Evidence: Chhattisgarh HC dismisses Revenue’s Appeal [Read Order]
The Chhattisgarh High Court has dismissed the Revenue’s appeal ruling that additions made on account of alleged unaccounted sales based on an 89% estimated yield were unsustainable in the absence...
![Unaccounted Sales Addition Based on 89% Estimated Yield Found Unsustainable without Evidence: Chhattisgarh HC dismisses Revenue’s Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/08/28/500x300_2081295-chhattisgarh-highcourt-taxscan.webp "Unaccounted Sales Addition Based on 89% Estimated Yield Found Unsustainable without Evidence: Chhattisgarh HC dismisses Revenue’s Appeal [Read Order]")
Only 10 Cr Disallowed out of Rs. 35cr Depreciation Allowance Claimed by Oriental Insurance Co. Ltd u/s 32 : ITAT restores for Reconsideration [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) restored the claim of The Oriental Insurance Co. Ltd under section 32 of the Income Tax Act, 1961, on the disallowance of 10 Crore out of...
![Only 10 Cr Disallowed out of Rs. 35cr Depreciation Allowance Claimed by Oriental Insurance Co. Ltd u/s 32 : ITAT restores for Reconsideration [Read Order]](https://images.taxscan.in/h-upload/2025/08/27/500x300_2080928-itat-delhi-depreciation-allowance-dispute-taxscan.webp "Only 10 Cr Disallowed out of Rs. 35cr Depreciation Allowance Claimed by Oriental Insurance Co. Ltd u/s 32 : ITAT restores for Reconsideration [Read Order]")
Additional Depreciation not Claimed in Preceding year can be allowed to TVS Pvt Ltd: ITAT directs AO to Calculate Correct Amount [Read Order]
In a recent order, the Chennai bench of the Income Tax Appellate Tribunal(ITAT) directed the Asessing Officer (AO) to calculate the correct amount of depreciation on holding that Additional ...
![Additional Depreciation not Claimed in Preceding year can be allowed to TVS Pvt Ltd: ITAT directs AO to Calculate Correct Amount [Read Order]](https://images.taxscan.in/h-upload/2025/08/27/500x300_2080908-tvs-itat-taxscan.webp "Additional Depreciation not Claimed in Preceding year can be allowed to TVS Pvt Ltd: ITAT directs AO to Calculate Correct Amount [Read Order]")
![ITAT upholds Upward Adjustment of Management Support Services on TVS [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/500x300_2080641-tvs-motor-taxscan.webp "ITAT upholds Upward Adjustment of Management Support Services on TVS [Read Order]")