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ITAT Directs AO to Consider Fresh Evidence in Unexplained Expenditure Addition u/s 69C [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to consider fresh evidence in the unexplained...

Section 56(2)(vii)(c)(ii) Not Applicable to Public Ltd Company for Share Allotment in Amalgamation:...

AO Erred in Assessing Trust's ₹ 3.30 Crore Interest-Free Loan & Interest Income: ITAT Orders Fresh...

Addition of Rs. 3.53 Crore as Unexplained Income u/s 69A: ITAT Sets Aside CIT(A)'s Order [Read...

Taxpayer Unable to Collect Notice: ITAT Condones 340 Days Delay, Remands S.69A Matter [Read Order]

Rejection of S.12AB Registration Due to Failure to Provide Documents: ITAT Restores Matter to CIT(E) [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal(ITAT)restored the matter to the Commissioner of Income Tax(Exemption)[CIT(E)] after the rejection of the Section 12AB registration application under...

Budget 2025 proposes to rationalise Time Limit to Impose Penalties

The Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025 on February 1st, 2025, at 11:00 AM in Parliament, marking her 8th consecutive budget under the Modi Government 3.0. One of...

Budget 2025 - Time Limit to Impose Penalties - TAXSCAN

Rejection of Trust’s Registration u/s 12AB Due to Insufficient Activities: ITAT Grants Another Opportunity to Present Case [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal(ITAT) granted another opportunity to the assessee to present its case before the Commissioner of Income Tax(Exemption)[CIT(E)] after its...

Unexplained Income Addition of ₹5.78 Lakh: ITAT Orders AO to Delete Addition Based on Past Savings Explanation [Read Order]

The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) directed the Assessing Officer (AO) to delete the unexplained income addition of ₹5.78 lakh made under Section 69A of Income Tax Act,1961...

Setback to AAI: ITAT Directs Recalculation of Exempt Income Disallowance u/r 8D at 1%, Rejecting Sufficient Interest-Free Funds Claim [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) directed the recalculation of exempt income disallowance under Rule 8D at 1%, rejecting the Airport Authority of India (AAI)’s claim of...

Tech-constraints Faced By Senior Citizen: ITAT sets aside Ex- Parte Order [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) set aside the ex-parte order by taking into consideration the technological constraints faced by the senior citizen and remanded the case...

Statement Recorded u/s 133A Lacks Evidentiary Value in Absence of Summons u/s 131: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that the statement recorded under Section 133A of the Income Tax Act, 1961, lacked evidentiary value in the absence of summons under...

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