![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]")
Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish Evidence [Read Order]
In a recent decision, the Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, remanded a case involving the assessee, Virtual Global Education Ltd....
![Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AO-to-Prove-Nexus-Post-Dated-Cheque-and-Undisclosed-Income-ITAT-TAXSCAN1.jpg "Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [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]](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]")
![Addition made in Excess of Income Tax SCN Against Ducati India: ITAT Directs AO to Reappraise Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-Income-Tax-Show-cause-notice-Addition-in-Excess-of-Income-Tax-Ducati-India-taxscan.jpg "Addition made in Excess of Income Tax SCN Against Ducati India: ITAT Directs AO to Reappraise Evidence [Read Order]")
![Relief to TATA Teleservices: ITAT Rules Interest Payment Made to China Development Bank (CDB) Exempt under Amended India- China DTAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-TATA-Teleservices-CDB-China-Development-Bank-China-DTAA-Income-Tax-taxscan.jpg "Relief to TATA Teleservices: ITAT Rules Interest Payment Made to China Development Bank (CDB) Exempt under Amended India- China DTAA [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]")
![Lack of Notice for Hearing served to assessee: ITAT restores file for Denovo proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/TAT-ITAT-Chandigarh-Denovo-proceedings-Lack-of-notice-for-hearing-ITAT-restores-file-Income-tax-taxscan.jpg "Lack of Notice for Hearing served to assessee: ITAT restores file for Denovo proceedings [Read Order]")
Interest Earned from Savings Account in Co-operative Bank cannot be treated as Income or Dividend from Investment: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that interest earned from savings accounts in a Co-operative bank cannot be treated as income or dividends from investments. ...
![Interest Earned from Savings Account in Co-operative Bank cannot be treated as Income or Dividend from Investment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Chennai-Income-Tax-ITAT-Interest-in-co-operative-bank-TAXSCAN.jpg "Interest Earned from Savings Account in Co-operative Bank cannot be treated as Income or Dividend from Investment: ITAT [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")
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]")
Insufficient Evidence for Unexplained Cash Deposits Contradicts Registered Sale Deed: ITAT Dismisses Appeal [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal of the assessee, due to insufficient evidence supporting the claim of unexplained cash deposits. Bisauha Ram...
![Insufficient Evidence for Unexplained Cash Deposits Contradicts Registered Sale Deed: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Raipur-Income-tax-Cash-Deposit-Insufficient-Evidence-ITAT-Dismisses-Appeal-taxscan.jpg "Insufficient Evidence for Unexplained Cash Deposits Contradicts Registered Sale Deed: ITAT Dismisses Appeal [Read Order]")
Assessee entitled to raise Additional claims in Appeal when not made in Returns filed: ITAT [Read Order]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that the assessee is entitled to raise additional claims in appeal that were not made when the returns were...
![Assessee entitled to raise Additional claims in Appeal when not made in Returns filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-ITAT-Ahmedabad-File-Returns-TAXSCAN.jpg "Assessee entitled to raise Additional claims in Appeal when not made in Returns filed: ITAT [Read Order]")