![ITAT Grants Interest on Self-Assessment Tax Refund, Rules Adjustment of Tax Liability Affects Character of Tax Payment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Self-Assessment-Tax-Refund-Tax-Liability-Tax-Payment-character-of-tax-payment-taxscan.jpg "ITAT Grants Interest on Self-Assessment Tax Refund, Rules Adjustment of Tax Liability Affects Character of Tax Payment [Read Order]")
ITAT Grants Interest on Self-Assessment Tax Refund, Rules Adjustment of Tax Liability Affects Character of Tax Payment [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) granted interest on a refund of self-assessment tax .The tribunal ruled that once...
![AO adds ₹15 Lakh for Alleged Fake Loan given Based on Third-Party Information: ITAT deletes Addition Citing Genuine Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Surath-Fake-Loan-ITAT-Deletes-Addition-Genuine-Transaction-ITAT-deletes-15-lakh-addition-taxscan.jpg "AO adds ₹15 Lakh for Alleged Fake Loan given Based on Third-Party Information: ITAT deletes Addition Citing Genuine Transaction [Read Order]")
![ITAT Upholds Disallowance of LTCL for Sun Pharma Labs Due to Non-Claim in Returns [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Sun-Pharma-Labs-LTCL-Disallowance-LTCL-Disallowance-Sun-Pharma-Labs-disallowance-taxscan.jpg "ITAT Upholds Disallowance of LTCL for Sun Pharma Labs Due to Non-Claim in Returns [Read Order]")
![Income Tax Dept designates Authorities for Direct Tax Vivad Se Vishwas Scheme, 2024 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-CBDT-Direct-Tax-Vivad-Se-Vishwas-Scheme-DTVSV-Scheme-TAXSCAN.jpg "Income Tax Dept designates Authorities for Direct Tax Vivad Se Vishwas Scheme, 2024 [Read Notification]")
![Assessment u/s 147 cannot be Reopened based on Mere Change of Opinion: ITAT quashes Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Delhi-ITAT-Reassessment-TAXSCAN.jpg "Assessment u/s 147 cannot be Reopened based on Mere Change of Opinion: ITAT quashes Reassessment [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 "1st proviso" to Section 201(1) of the Income Tax...
![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]")
Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [Read Order]
The Kerala High Court in a significant case held that the 'interest income' on the short-term deposits of the funds infused by the Government, which are sanctioned for purpose of setting up of...
![Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Kerala-High-Court-Interest-Income-From-Short-Term-Funds-Interest-Income-From-Taxscan.jpg "Interest Income From Short Term Funds Infused By Govt Kept In Bank Till Its Utilization Is Capital Receipt: Kerala HC [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. back to the Assessing Officer ( AO ), after...
![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]")
Failure of AO to Prove Nexus b/w Post- Dated Cheque and Undisclosed Income: ITAT Upholds deletion of Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) in Delhi upheld the deletion of an addition made by the Assessing Officer (AO) concerning alleged undisclosed income linked to post-dated cheques (PDCs)...
![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]
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]")
![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]
In a significant relief to Tata Teleservices Limited, the Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has ruled that the interest payment made by the company to China Development Bank ( CDB...
![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]")