![Unaccounted Deposits Are Liabilities, Not Income, u/s 68 of the Income Tax Act: ITAT Deletes ₹66 Lakh Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/deposits-ITAT-income-tax-taxscan.jpg "Unaccounted Deposits Are Liabilities, Not Income, u/s 68 of the Income Tax Act: ITAT Deletes ₹66 Lakh Addition [Read Order]")
Unaccounted Deposits Are Liabilities, Not Income, u/s 68 of the Income Tax Act: ITAT Deletes ₹66 Lakh Addition [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has quashed additions totalling ₹1.05 crore, holding that the alleged cash deposits...
![Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-income-earned-Deposits-Cooperatives-Banks-eligible-deduction-TAXSCAN.jpeg "Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
MCA relaxes Filing of Form DPT-3 without Additional Fee up to 31st July 2023 due to portal glitches [Read Circular]
The Ministry of Corporate Affairs (MCA) has extended the due date of filing of Form DPT-3 without additional fee up to 31st July 2023 due to the portal issues. The ministry issued the circular on...
Interest Income by Cooperative Society on Deposits of Surplus Funds Eligible for Deduction u/ss 80P(2)(a)i) and 80P(2)(d) of Income Tax Act: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal ( ITAT) held that the Interest income earned by the cooperative society on deposits of surplus funds by the scheduled banks is eligible for the...
![Interest Income by Cooperative Society on Deposits of Surplus Funds Eligible for Deduction u/ss 80P(2)(a)i) and 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-Interest-Income-by-Cooperative-Society-Cooperative-Society-Cooperative-Society-on-Deposits-Deposits-Surplus-Funds-Funds-Deduction-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Interest Income by Cooperative Society on Deposits of Surplus Funds Eligible for Deduction u/ss 80P(2)(a)i) and 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that mere furnishing of income Tax returns and bank statements without giving any explanation for deposits would not meet the...
![Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Furnishing-of-Income-Tax-Returns-Income-Tax-Returns-Income-Tax-Bank-Statements-Deposits-ITAT-Taxscan.jpg "Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]")
CBIC extends Exemption from Deposits for Specified goods u/s 51A(4) of Customs Act till 1st July 2023 [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for the listed goods to be exempt from deposits until July 1st 2023 in compliance with Section 51A(4) of the Customs...
![CBIC extends Exemption from Deposits for Specified goods u/s 51A(4) of Customs Act till 1st July 2023 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/04/CBIC-extends-Exemption-from-Deposits-CBIC-extends-Exemption-CBIC-Specified-goods-Customs-Act-Customs-Taxscan-1.jpg "CBIC extends Exemption from Deposits for Specified goods u/s 51A(4) of Customs Act till 1st July 2023 [Read Notification]")
No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made to an undisclosed contract receipt from the business of purchase and sale of fish...
![No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Undisclosed-Contract-Receipt-Contract-Receipt-Business-of-Purchase-and-Sale-of-Fish-Purchase-and-Sale-of-Fish-ITAT-Deletes-the-Addition-ITAT-Taxscan.jpg "No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]")