![ITAT Gives Taxpayer a Costly Second Chance; Rs.10,000 Fine for Negligence, Orders Fresh Hearing on Unexplained Cash Deposits [Read Order]](https://images.taxscan.in/h-upload/2025/08/22/500x300_2079697-unexplained-cash-depositsitat-fresh-hearing-taxscan.webp "ITAT Gives Taxpayer a Costly Second Chance; Rs.10,000 Fine for Negligence, Orders Fresh Hearing on Unexplained Cash Deposits [Read Order]")
ITAT Gives Taxpayer a Costly Second Chance; Rs.10,000 Fine for Negligence, Orders Fresh Hearing on Unexplained Cash Deposits [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Surat has granted a fresh assessment opportunity to an individual while imposing a cost of Rs. 10,000 for...
![Non-Intimation by Tax Practitioner Causes Appeal Delay: ITAT Condones 1249-Day Delay, Quashes Revision u/s 263 Initiated on AOs Proposal [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/250x150_2074942-non-intimation-tax-practitioner-causes-appeal-delay-itat-condones-delay-quashes-revision-us-263-proposal-taxscan.webp "Non-Intimation by Tax Practitioner Causes Appeal Delay: ITAT Condones 1249-Day Delay, Quashes Revision u/s 263 Initiated on AOs Proposal [Read Order]")
![ITAT Scraps Rs. 14.2 Crore On-Money Tax Demand: No Evidence Found Against Real Estate Firm [Read Order]](https://images.taxscan.in/h-upload/2025/08/04/250x150_2072965-itat-on-money-tax-demand-real-estate-firm-taxscan.webp "ITAT Scraps Rs. 14.2 Crore On-Money Tax Demand: No Evidence Found Against Real Estate Firm [Read Order]")
![Supreme Court refused to condone 215 days in filing SLP Against order Upholding Merger of Short Term Capital Loss of 108.75 crores [Read Judgement]](https://images.taxscan.in/h-upload/2025/08/05/250x150_2073182-supreme-court-slp-against-order-short-term-capital-taxscan.webp "Supreme Court refused to condone 215 days in filing SLP Against order Upholding Merger of Short Term Capital Loss of 108.75 crores [Read Judgement]")
![Delay in Filing Appeal Due to Illiteracy and Email Issues: ITAT Condones 349-Day Delay, Restores Ex-Parte Assessment to AO for Verification [Read Order]](https://images.taxscan.in/h-upload/2025/08/02/250x150_2072389-delay-filing-appeal-illiteracy-and-email-issues-itat-restores-ex-parte-assessment-taxscan.webp "Delay in Filing Appeal Due to Illiteracy and Email Issues: ITAT Condones 349-Day Delay, Restores Ex-Parte Assessment to AO for Verification [Read Order]")
Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the rejection of books of accounts under Section 145(3) of the Income Tax Act, 1961, and confirmed net profit estimation at 5%,...
![Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070842-books-rejected-absence-stock-register-abnormal-cash-sales-itat-upholds-rejection-confirms-5-profit-estimation-taxscan.webp "Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]")
![ITAT Rules in Favor of Co-op Society: Bank Interest Income Eligible for 80P Deduction [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070979-itat-rules-favor-co-op-society-bank-interest-income-eligible-80p-deduction-taxscan.webp "ITAT Rules in Favor of Co-op Society: Bank Interest Income Eligible for 80P Deduction [Read Order]")
ITAT rules in Favor of Jaggery Trader, holds No 40(a)(ia) Disallowance Where Tax already Paid on Interest Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench, has ruled in favor of a jaggery products trader, holding that no disallowance under Section 40(a)(ia) of the Income Tax Act, 1961, can be made...
![ITAT rules in Favor of Jaggery Trader, holds No 40(a)(ia) Disallowance Where Tax already Paid on Interest Income [Read Order]](https://images.taxscan.in/h-upload/2025/07/26/500x300_2069427-itat-rules-favor-jaggery-trader-40aia-disallowance-tax-interest-income-taxscan.webp "ITAT rules in Favor of Jaggery Trader, holds No 40(a)(ia) Disallowance Where Tax already Paid on Interest Income [Read Order]")
Madras HC Holds Income Tax Revision u/s 263 Time-Barred as Limitation Must Be Computed from Original Assessment Date [Read Order]
The High Court of Madras, held that the revision order passed under Section 263 of the Income Tax Act,1961, was time-barred, as the two-year limitation period must be computed from the date of the...
![Madras HC Holds Income Tax Revision u/s 263 Time-Barred as Limitation Must Be Computed from Original Assessment Date [Read Order]](https://images.taxscan.in/h-upload/2025/07/26/500x300_2069394-madras-hc-income-tax-revision-us-263-time-barred-limitation-computed-original-assessment-date-taxscan.webp "Madras HC Holds Income Tax Revision u/s 263 Time-Barred as Limitation Must Be Computed from Original Assessment Date [Read Order]")
Supreme Court Declares Hyatt Has Permanent Establishment in India, Must Pay Tax Under Indo-UAE Treaty [Read Judgement]
The Supreme Court of India held that Hyatt International Southwest Asia Ltd., a company incorporated in Dubai, has a permanent establishment (PE) in India under Article 5(1) of the Indo-UAE Double...
![Supreme Court Declares Hyatt Has Permanent Establishment in India, Must Pay Tax Under Indo-UAE Treaty [Read Judgement]](https://images.taxscan.in/h-upload/2025/07/26/500x300_2069309-supreme-court-declares-hyatt-taxscan.webp "Supreme Court Declares Hyatt Has Permanent Establishment in India, Must Pay Tax Under Indo-UAE Treaty [Read Judgement]")
No Merit in Assessee’s Objection of Lack of Hearing Opportunity u/s 144A: ITAT Upholds Income Tax Assessment on Best Judgment by AO [Read Order]
ITAT upheld best judgment assessment under section 144 and rejected assessee’s claim of being denied opportunity under section 144A as without merit. The Delhi Bench of the Income Tax Appellate...
![No Merit in Assessee’s Objection of Lack of Hearing Opportunity u/s 144A: ITAT Upholds Income Tax Assessment on Best Judgment by AO [Read Order]](https://images.taxscan.in/h-upload/2025/07/23/500x300_2068138-income-tax-assessment-taxscan.webp "No Merit in Assessee’s Objection of Lack of Hearing Opportunity u/s 144A: ITAT Upholds Income Tax Assessment on Best Judgment by AO [Read Order]")