![Income from Revocable Trust Taxable in Settlor’s Hands, Not Trust: ITAT Grants Relief Under India-UAE DTAA [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2071058-income-from-revocable-trust-revocable-trust-taxable-in-settlors-hands-taxscan.webp "Income from Revocable Trust Taxable in Settlor’s Hands, Not Trust: ITAT Grants Relief Under India-UAE DTAA [Read Order]")
Income from Revocable Trust Taxable in Settlor’s Hands, Not Trust: ITAT Grants Relief Under India-UAE DTAA [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the Assessing Officer (AO) in the hands of the trust and...
![CPC Adjustments on Exempt Income and Disallowances Invalid: ITAT Deletes ₹5.95 Cr Additions, Citing Technical Glitches and Lack of Judicial Application [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070904-itat-mumbai-cpc-adjustments-technical-glitches-taxscan.webp "CPC Adjustments on Exempt Income and Disallowances Invalid: ITAT Deletes ₹5.95 Cr Additions, Citing Technical Glitches and Lack of Judicial Application [Read Order]")
![ITAT: Mere Disagreement with AO’s View Doesn’t Justify Revision Under Section 263 [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070681-itat-revision-taxscan.webp "ITAT: Mere Disagreement with AO’s View Doesn’t Justify Revision Under Section 263 [Read Order]")
![ITAT Allows LTCG Exemption u/s 10(38) as Inherited Shares Were Held Long-Term, Deletes STCG Addition [Read Order]](https://images.taxscan.in/h-upload/2025/07/26/250x150_2069358-fraudulent-capital-gain-capital-gain-itat-taxscan.webp "ITAT Allows LTCG Exemption u/s 10(38) as Inherited Shares Were Held Long-Term, Deletes STCG Addition [Read Order]")
![ITAT Weekly Round -Up [ July 13th - July 19th ]](https://images.taxscan.in/h-upload/2025/07/21/500x300_2066915-itat-weekly-round-up-weekly-round-up-round-up-itat-weekly-round-up-2025-taxscan.webp "ITAT Weekly Round -Up [ July 13th - July 19th ]")
Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that cash deposits in Specified Bank Notes (SBNs) received from disclosed debtors during the demonetization period cannot be treated...
![Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065896-itat-disclosed-debtors-unexplained-cash-taxscan.webp "Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]")
Unexplained Source of Investment on 4Kg Gold: ITAT Directs to Consider R. 46 Evidence Citing Improper Rejection [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication and directed proper consideration of...
![Unexplained Source of Investment on 4Kg Gold: ITAT Directs to Consider R. 46 Evidence Citing Improper Rejection [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/500x300_2065501-unexplaine-investment-gold-taxscan.webp "Unexplained Source of Investment on 4Kg Gold: ITAT Directs to Consider R. 46 Evidence Citing Improper Rejection [Read Order]")
![SCN Issued for Property Purchase to Wrong Assessment Year: ITAT Quashes PCIT Order [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/500x300_2064906-property-purchase-wrong-assessment-itat-mumbai-taxscan.webp "SCN Issued for Property Purchase to Wrong Assessment Year: ITAT Quashes PCIT Order [Read Order]")
ITAT Allows Carry Forward of Loss, Deletes Late Fee as Partner Filed Return Within Extended Due Date u/s 92E [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) allowed the carry forward of long-term capital loss and deleted the late filing fee of Rs. 5,000, holding that the return was filed within...
![ITAT Allows Carry Forward of Loss, Deletes Late Fee as Partner Filed Return Within Extended Due Date u/s 92E [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/500x300_2064909-carry-forward-of-loss-.webp "ITAT Allows Carry Forward of Loss, Deletes Late Fee as Partner Filed Return Within Extended Due Date u/s 92E [Read Order]")
Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted additions under Sections 68 and 69C in a case involving penny stock transactions and held that the shares of Splash Media were ...
![Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/500x300_2064911-site-img18-2.webp "Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]")
ITAT Condones Significant Appeal Delay for Elderly Directors Citing Health Concerns Due to Pandemic [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to an assessee by condoning a substantial delay in their appeal noting the health circumstances of the company's...
![ITAT Condones Significant Appeal Delay for Elderly Directors Citing Health Concerns Due to Pandemic [Read Order]](https://images.taxscan.in/h-upload/2025/07/14/500x300_2063772-itat-itat-condones-significant-appeal-delay-appeal-delay-appeal-delay-for-elderly-directors-taxscan.webp "ITAT Condones Significant Appeal Delay for Elderly Directors Citing Health Concerns Due to Pandemic [Read Order]")