Read all Latest Updates on and about Income Tax Act 1961

Top

Begin typing your search above and press return to search.

Home
»
Income Tax Act 1961

Brought-Forward Loan Cannot Be Taxed without Payment During Relevant Year: ITAT Deletes ₹1.45 Cr Deemed Dividend Addition [Read Order]

Advika Dwivedi

The bench of the Income Tax Appellate Tribunal, Raipur, held that loans received in an earlier year cannot be treated as deemed dividend in a...

Amount Shown as Advance and Paid Before Due Date Cannot Be Treated as Revenue Receipt: ITAT Orders...

No Evidence of Price Rigging or Bogus Share Transactions: ITAT Quashes S. 68 Addition [Read Order]

AO's Action Beyond Scope of Limited Scrutiny Invalid: ITAT Quashes Addition [Read Order]

Bullion Trader’s Demonetisation Cash Deposits Found Genuine: ITAT Deletes ₹9.24 Crore Addition u/s...

Director Alone Cannot be prosecuted under Income Tax Act for Transferring Company assets to Daughter in law without consideration: Delhi HC [Read Order]

In a recent case, the Delhi High Court has held that the director alone cannot be prosecuted under Income Tax Act, 1961, for transferring company assets to the daughter-in-law without consideration....

Section 80P(4) of Income Tax Act bars S.80P(2)(d) deduction for Co-operative Bank Investments: Karnataka HC [Read Order]

The High Court of Karnataka held that Section 80P(4) of the Income Tax Act,1961 barred deduction under Section 80P(2)(d) for interest earned from investments in Co-operative Banks. Judicial...

Karnataka HC Upholds ITAT Order, ₹6.61 Crore Cash Sales on Demonetisation Day Accepted as Genuine u/s 68 with Supporting Invoices and Stock Records [Read Order]

The High Court of Karnataka, upheld the Income Tax Appellate Tribunal ( ITAT ) order, holding that ₹6.61 crore cash sales on the demonetisation day were genuine under Section 68 of Income Tax...

Income Tax Assessment Order u/s 153A Found Non-Est in Eyes of Law: ITAT upholds Assessee’s Appeal [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the assessment order passed under section 153 A of the Income Tax Act, 1961, holding it as not valid in the eyes of law. It...

School Fees Deposited in Bank Account Treated as Unexplained Income: ITAT Remits Matter to AO to Examine Exemption u/s 10(23C)(iiiad) [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) remitted the matter to the Assessing Officer (AO) to examine the exemption under section 10(23C)(iiiad) of Income Tax Act,1961, in...

POA Cannot Be Treated as Registered Conveyance for Purpose of Transfer u/s 2(47)(v) and Capital Gain u/s 45: ITAT [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) has clarified that execution of a Power of Attorney (POA) does not, by itself, constitute a “transfer” of immovable property within...

Supreme Court & High Courts Weekly Round-Up

This weekly round-up analytically summarises the key stories related to the Supreme Court & High Courts reported at Taxscan.in during the previous week, from September 28, 2025 to October 04,...