![Income Assessed Exempt under Income Tax Act being Agricultural Income: Kerala HC directs to pass Orders on Stay Petitions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Agricultural-Income-Treated-Unaccounted-Income-Income-Tax-Act-Incriminating-Materials-Show-Income-Assessee-ITAT-TAXSCAN.jpg "Income Assessed Exempt under Income Tax Act being Agricultural Income: Kerala HC directs to pass Orders on Stay Petitions [Read Order]")
Income Assessed Exempt under Income Tax Act being Agricultural Income: Kerala HC directs to pass Orders on Stay Petitions [Read Order]
The Kerala High Court directed to pass orders on stay petitions as the income assessed was exempt from tax under the Income Tax Act, 1961 being...
![No Penalty under Income Tax Act in Absence of Concealment of Income: Delhi HC upholds Order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Penalty-under-Income-Tax-Act-Penalty-Absence-of-Concealment-of-Income-Delhi-Highcourt-Order-of-ITAT-taxscan.jpg "No Penalty under Income Tax Act in Absence of Concealment of Income: Delhi HC upholds Order of ITAT [Read Order]")
Gifts received in shape of cash “Shaguns” on various occasions like Marriages, Birthdays, Anniversaries kept in Locker shall not be treated as Unexplained Money u/s 69A of Income Tax Act: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that gifts received in the form of cash shaguns on various occasions, such as marriages, birthdays, and anniversaries, kept in a locker,...
Addition on Undisclosed Income under the Income Tax Act cannot be made based on mere voluntary Disclosure: Madras HC Dismisses Income Tax Appeal [Read Order]
The Madras High Court has held that the addition of undisclosed income under the Income Tax Act, 1961 cannot be made based on mere voluntary disclosure and dismissed the Income Tax appeal. ...
![Addition on Undisclosed Income under the Income Tax Act cannot be made based on mere voluntary Disclosure: Madras HC Dismisses Income Tax Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-on-Undisclosed-Income-Income-Tax-Act-Income-tax-Madras-High-Court-Dismisses-Income-Tax-Appeal-voluntary-Disclosure-Income-Tax-Appeal-TAXSCAN-1.jpg "Addition on Undisclosed Income under the Income Tax Act cannot be made based on mere voluntary Disclosure: Madras HC Dismisses Income Tax Appeal [Read Order]")
Direction to deposit amount for disposing Pending Assessment Proceedings Under Income Tax Act: Kerala HC dismisses Appeal as Modification order Already passed [Read Order]
The Kerala High Court dismissed the appeal praying for issuing direction to deposit amount for disposing Pending Assessment Proceedings Under Income Tax Act, 1961, as there was an order modified the...
![Direction to deposit amount for disposing Pending Assessment Proceedings Under Income Tax Act: Kerala HC dismisses Appeal as Modification order Already passed [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Direction-to-deposit-disposing-Pending-Assessment-Income-Tax-Act-Kerala-High-Court-Income-tax-TAXSCAN.jpg "Direction to deposit amount for disposing Pending Assessment Proceedings Under Income Tax Act: Kerala HC dismisses Appeal as Modification order Already passed [Read Order]")
Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that that the PCIT has merely remitted the issue back to the file of the AO to redo the assessment without giving a finding that the...
![Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]](https://www.taxscan.in/wp-content/uploads/2023/10/Remand-of-Issue-to-AO-for-Re-adjudication-PCIT-Determining-Profit-Declared-by-Assessee-Erroneous-ITAT-Income-tax-Income-tax-act-Revision-Order-under-section-263-of-income-tax-act-TAXSCAN.jpg "Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]")
AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]
In a recent decision the Delhi High Court observed that the Assessing Officer has to form an opinion before recording disallowance under Section 40A(2)(a) of the Income Tax Act, 1961. For the...
![AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Delhi-high-court-Income-Tax-Act-Income-tax-Assessing-Officer-AO-has-to-form-Opinion-before-Recording-Disallowance-Under-section-40A2a.jpg "AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]")
Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]
In a landmark ruling, the Supreme Court bench, composed of Justice B.V. Nagarathna and Justice Ujjal Bhuyan, has granted the Kerala State Cooperative Agricultural and Rural Development Bank (KSCARDB)...
![Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/10/Supreme-Court-Deduction-Benefit-under-Income-Tax-Act-Income-Tax-Deduction-Benefit-Deduction-Kerala-State-Cooperative-Agricultural-and-Rural-Devt-Bank-taxscan.jpg "Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]")
