No Hierarchy in STCL Set-Off u/s 70(2): ITAT Strikes Down AO’s Computation Method
The Income Tax Appellate Tribunal, Mumbai Bench (ITAT) held that Section 70(2) of the Income Tax Act, 1961 does not prescribe any hierarchy for...
![ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118429-itat-grants-relief-unexplained-income-property-sale-despite-invalid-income-tax-return-taxscan.webp "ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]")
![Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118414-mistaken-self-disallowance-income-tax-return-rectified-taxscan.webp "Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review [Read Order]")
![Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117584-supreme-court-dismisses-revenues-plea-income-tax-addition.webp "Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]")
![Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVIII]](https://images.taxscan.in/h-upload/2026/01/03/250x150_2116982-annual-income-tax-case-digest-itat-decisions-2025-part-xviii-taxscan.webp "Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVIII]")
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...
![Failure to Adhere to Surviving Time Limit under TOLA Renders Reassessment Proceedings u/s 148 Void: ITAT Quashes Assessment Orders [Read Order]](https://images.taxscan.in/h-upload/2026/01/03/500x300_2116946-failure-adhere-surviving-time-limit-under-tola-renders-reassessment-proceedings.webp "Failure to Adhere to Surviving Time Limit under TOLA Renders Reassessment Proceedings u/s 148 Void: ITAT Quashes Assessment Orders [Read Order]")
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 ...
![PCIT found to have Erred in Exercising Revisionary Powers u/s 263: ITAT sets aside Revisionary Order [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116500-exercising-revisionary-powers-itat-revisionary-order-taxscan.webp "PCIT found to have Erred in Exercising Revisionary Powers u/s 263: ITAT sets aside Revisionary Order [Read Order]")
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 Taxable in Bogus Purchase Cases : ITAT Reduces Gross Profit Addition to 11% [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116504-only-profit-element-taxable-in-bogus-purchase-cases-itat-reduces-gross-profit-addition.webp "Only Profit Element Taxable in Bogus Purchase Cases : ITAT Reduces Gross Profit Addition to 11% [Read Order]")
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...
![Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115716-only-profit-element-must-be-taxed-in-unrecorded-business-receipts-taxsan.webp "Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]")
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...
![No Stay on Income Tax Demand as Assessee itself Proposed Instalment Payment before AO: Calcutta HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115615-no-stay-income-tax-demand-assessee-proposed-instalment-payment-ao-calcutta-hc-taxscan.webp "No Stay on Income Tax Demand as Assessee itself Proposed Instalment Payment before AO: Calcutta HC [Read Order]")
ITAT Quashes Assessment Over Contradictory Search Details and Non-Application of Mind, Invalidates Reassessment Proceedings [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed reassessment orders for Assessment Years (A.Y) 2016-17 and 2019-20 after noting contradictory search details from the notices and...
![ITAT Quashes Assessment Over Contradictory Search Details and Non-Application of Mind, Invalidates Reassessment Proceedings [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115552-itat-quashes-assessment-over-contradictory-search-details-taxscan.webp "ITAT Quashes Assessment Over Contradictory Search Details and Non-Application of Mind, Invalidates Reassessment Proceedings [Read Order]")
Taxpayer Not Required to Prove ‘Source of Source’ Once Creditor Identity is Established: Patna HC on S. 68 Addition, sets aside ITAT Order [Read Order]
The Patna High Court, in its ruling has held that once an assessee establishes the identity of the creditor and the banking trail, the Revenue cannot insist that the assessee must also prove the...
![Taxpayer Not Required to Prove ‘Source of Source’ Once Creditor Identity is Established: Patna HC on S. 68 Addition, sets aside ITAT Order [Read Order]](https://images.taxscan.in/h-upload/2025/12/26/500x300_2115109-taxpayer-source-source-creditor-identity-established-patna-hc-s-68-itat-order-taxscan.jfif "Taxpayer Not Required to Prove ‘Source of Source’ Once Creditor Identity is Established: Patna HC on S. 68 Addition, sets aside ITAT Order [Read Order]")