![Failure to Produce Evidence as to Astronomical Agricultural Income: ITAT upholds Estimation of Income by AO as Other Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Evidence-Astronomical-Agricultural-Income-Agricultural-Income-Income-ITAT-upholds-Estimation-of-Income-ITAT-Estimation-of-Income-Other-Source-Taxscan.jpg "Failure to Produce Evidence as to Astronomical Agricultural Income: ITAT upholds Estimation of Income by AO as Other Source [Read Order]")
Failure to Produce Evidence as to Astronomical Agricultural Income: ITAT upholds Estimation of Income by AO as Other Source [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the estimation of Income by the Assessing Officer as income from other sources...
![Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Furnishing-of-Income-Tax-Returns-Income-Tax-Returns-Income-Tax-Bank-Statements-Deposits-ITAT-Taxscan.jpg "Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]")
![Number of Cash Receipt received as per Cash Book are not Reflecting in Day Book: ITAT Upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Number-of-Cash-Receipt-received-as-per-Cash-Book-are-not-reflecting-in-Day-Book-ITAT-upholds-addition-TAXSCAN.jpg "Number of Cash Receipt received as per Cash Book are not Reflecting in Day Book: ITAT Upholds Addition [Read Order]")
![Satisfaction u/s 151 of Income Tax Act is not Empty Formality: ITAT quashes Income Tax Addition made in Mechanical and Stereotyped Manner [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Satisfaction-us-151-of-Income-Tax-Act-is-not-Empty-Formality-ITAT-quashes-Income-Tax-Addition-made-in-Mechanical-and-Stereotyped-Manner-TAXSCAN.jpg "Satisfaction u/s 151 of Income Tax Act is not Empty Formality: ITAT quashes Income Tax Addition made in Mechanical and Stereotyped Manner [Read Order]")
![No Explanation as to Source of Credit Card Payment: ITAT upholds Addition u/s 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Source-of-Credit-Card-Payment-ITAT-upholds-Addition-ITAT-Credit-Card-Payment-Income-Tax-Act-Income-Tax-taxscan-.jpg "No Explanation as to Source of Credit Card Payment: ITAT upholds Addition u/s 69C of Income Tax Act [Read Order]")
Mistake not Apparent and Known to AO without In-Depth Analysis: ITAT upholds Rejection of Rectification Application [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the rejection of rectification application holding that the mistake was not apparent and known to Assessing Officer (AO) without...
![Mistake not Apparent and Known to AO without In-Depth Analysis: ITAT upholds Rejection of Rectification Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Mistake-Apparent-AO-In-Depth-Analysis-ITAT-upholds-Rejection-ITAT-Rejection-Rectification-Application-Rejection-of-Rectification-Application-taxscan.jpg "Mistake not Apparent and Known to AO without In-Depth Analysis: ITAT upholds Rejection of Rectification Application [Read Order]")
Once existence of Goodwill established, Depreciation on such goodwill cannot be questioned: ITAT [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that depreciation on goodwill could not be questioned once the existence of goodwill had been established. The assessee, Blujay...
![Once existence of Goodwill established, Depreciation on such goodwill cannot be questioned: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Goodwill-existence-of-Goodwill-established-Depreciation-ITAT-Depreciation-on-such-goodwill-cannot-be-questioned-taxscan.jpg "Once existence of Goodwill established, Depreciation on such goodwill cannot be questioned: ITAT [Read Order]")
![AO Justified in Rectification of Apparent Error Instead of Substituting the Same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/AO-Justified-in-Rectification-Rectification-of-Apparent-Error-Rectification-Apparent-Error-ITAT-taxscan.jpg "AO Justified in Rectification of Apparent Error Instead of Substituting the Same: ITAT [Read Order]")
Meritorious Case cannot be Thrown out at Threshold, When Proper Documents are Produced: ITAT [Read Order]
The Hyderabed Bench of Income Tax Appellate Tribunal (ITAT) has held that a meritorious case could not be thrown at threshold when proper documents are produced. Assessee Narasimha Rao Venkata...
![Meritorious Case cannot be Thrown out at Threshold, When Proper Documents are Produced: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Meritorious-Case-cannot-be-Thrown-out-at-Threshold-When-Proper-Documents-are-Produced-ITAT-TAXSCAN.jpg "Meritorious Case cannot be Thrown out at Threshold, When Proper Documents are Produced: ITAT [Read Order]")
No Tax Levy u/s 115BBE of IT Act on Additional Income offered by assessee during Survey: ITAT quashes Rectification Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Hyderabad bench recently quashed a rectification order filed before it and held that no tax should be levied under Section 115BBE of the Income Tax Act,...
![No Tax Levy u/s 115BBE of IT Act on Additional Income offered by assessee during Survey: ITAT quashes Rectification Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Tax-Levy-IT-Act-Additional-Income-ITAT-quashes-Rectification-Order-Additional-Income-offered-by-assessee-Survey-Rectification-Order-ITAT-taxscan.jpg "No Tax Levy u/s 115BBE of IT Act on Additional Income offered by assessee during Survey: ITAT quashes Rectification Order [Read Order]")
Ex-parte Addition of Cash Deposit made in Bank during Demonetisation Period u/s 69A of I-T Act: ITAT directs Readjudication
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) decided to give opportunity to the assessee to produce all the relevant documents before the Assessing Officer (AO) for fact verification...
Penalty u/s 271AAC is not Applicable, if Tax u/s 115BBE of Income Tax Act is NIL: ITAT directs Readjudication [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT), while directing re-adjudication observed that penalty under Section 271AAC Income Tax Act, 1961 would not be applicable if tax under...
![Penalty u/s 271AAC is not Applicable, if Tax u/s 115BBE of Income Tax Act is NIL: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Tax-Income-Tax-Act-ITAT-directs-Readjudication-ITAT-ITAT-Readjudication-Taxscan.jpg "Penalty u/s 271AAC is not Applicable, if Tax u/s 115BBE of Income Tax Act is NIL: ITAT directs Readjudication [Read Order]")