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Whatsapp Chat confirms Counsel’s Negligence Caused Delay in Filing Income tax Appeal: ITAT Restores matter to CIT(A) [Read Order]

The Indore Bench of the Income Tax Appellate Tribunal ( ITAT ) held that delay in filing income tax appeal was due to the negligence of the counsel....

STT-Paid STCL Set-Off allowed against 30% STCG Despite 15% Rate: ITAT Quashes Denial [Read Order]

No Hierarchy in STCL Set-Off u/s 70(2): ITAT Strikes Down AO’s Computation Method

ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return...

Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review...

Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]

The Supreme Court of India recently dismissed a Special Leave Petition (SLP) instituted by the Principal Commissioner of Income Tax, noting that the case which pertained to additions on the basis of...

Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVIII]

This annual round-up analytically summarises the key Direct Tax-Income Tax rulings of the Income Tax Appellate Tribunal (ITAT) reported on Taxscan.in in 2025 Petrol Pump Operator’s Cash ...

Failure to Adhere to Surviving Time Limit under TOLA Renders Reassessment Proceedings u/s 148 Void: ITAT Quashes Assessment Orders [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bench at Ahmedabad has quashed reassessment proceedings for Assessment Years 2015-16, 2016-17 and 2017-18 after holding that the notices were issued beyond the...

PCIT found to have Erred in Exercising Revisionary Powers u/s 263: ITAT sets aside Revisionary Order [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the revisionary order under Section 263 of theIncome-tax Act, 1961, holding that the Principal Commissioner of Income Tax ...

Only Profit Element Taxable in Bogus Purchase Cases : ITAT Reduces Gross Profit Addition to 11% [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bench at New Delhi has held that in cases involving alleged bogus purchases obtained through accommodation entries, only the profit element can be brought to...

Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) that the provision of Section 69A was not applicable to unrecorded cash transactions that represent business receipts found in...

No Stay on Income Tax Demand as Assessee itself Proposed Instalment Payment before AO: Calcutta HC [Read Order]

The Calcutta High Court refused to stay the income tax demand as the assessee itself proposed the payment of Outstanding dues before the Assessing Officer. The court also noted that the appeal of...