![AO Must Allow Interest Deduction for Cooperative Societies If Expenses Are Proven to Be Linked to Activities u/s 80P(2): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-surat.jpg "AO Must Allow Interest Deduction for Cooperative Societies If Expenses Are Proven to Be Linked to Activities u/s 80P(2): ITAT [Read Order]")
AO Must Allow Interest Deduction for Cooperative Societies If Expenses Are Proven to Be Linked to Activities u/s 80P(2): ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) must allow interest expenditure as a deduction for...
![Reassessment u/s 147 Requires Fresh Tangible Material, Mere Reliance on Investigation Report Insufficient: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Reassessment-.jpg "Reassessment u/s 147 Requires Fresh Tangible Material, Mere Reliance on Investigation Report Insufficient: ITAT [Read Order]")
![ITAT Directs CIT(A) to Re-examine Gift from HUF Under Section 56(2)(vii) of Income Tax Act 1961 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Hindu-Undivided-Family-Income-Tax-Taxscan.jpg "ITAT Directs CIT(A) to Re-examine Gift from HUF Under Section 56(2)(vii) of Income Tax Act 1961 [Read Order]")
![Penalty u/s 271B Based on Bank Transactions: ITAT Remands Matter to AO for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Surat-bank-transactions-penalty-Taxscan-.jpg "Penalty u/s 271B Based on Bank Transactions: ITAT Remands Matter to AO for Fresh Consideration [Read Order]")
ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act [Read Order]
The Surat bench of the Income Tax Appellate Tribunal ( ITAT ) reduced an addition on unexplained cash deposits to 25% concerning the assessment years 2011-12 and 2013-14. The assessee, Bajrangbali...
![ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unexplained-Cash-Deposit-Penalty-Income-Tax-Act-taxscan.jpg "ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act [Read Order]")
ITAT Quashes CIT(A) Order for Not Considering Assessee's Submissions, Directs AO to Re-Examine Case [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ), Surat Bench, quashed the order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] and directed the Assessing Officer (AO) to...
![ITAT Quashes CIT(A) Order for Not Considering Assessees Submissions, Directs AO to Re-Examine Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Re-Examine-Case-CITA-Order-Income-Tax-taxscan.jpg "ITAT Quashes CIT(A) Order for Not Considering Assessees Submissions, Directs AO to Re-Examine Case [Read Order]")
All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) recently clarified the prominence of reasonable estimation, averring that not all bank transactions and credit entries may be treated as...
![All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Credit-Entries-Debited-by-Clearance-taxscan.jpg "All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]")
Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted an income tax addition of ₹48,48,356, observing that the concerned Assessing Officer (AO) and precursory Commissioner of...
![Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Tax-Addition-Positive-Evidence-taxscan.jpg "Lack of specific information or positive evidence to reject Assessee’s Submissions: ITAT deletes ₹48 Lakh Income Tax Addition [Read Order]")
Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) recently set aside an ex-parte addition ₹15 Lakh held as unexplained Bank Deposit by a deceased assessee, while calling on the Assessing...
![Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Deceased-Assessees-ITAT-Surat-ITAT-Remits-ITAT-Remits-for-de-novo-Assessment-unexplained-Bank-Deposit-numerous-notices-Assessment-Year-Income-Tax-Act-ITAT-Taxscan.jpg "Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]")
CBDT Circular provides Time Extension for Approval of Fund u/s 80G: ITAT Restores matter to CIT(E) [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) recently granted relief to an Appellant, approving the delay in application for approval of fund from the date of commencement of...
![CBDT Circular provides Time Extension for Approval of Fund u/s 80G: ITAT Restores matter to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Surat-Time-Extension-Charitable-Trusts-Taxscan.jpg "CBDT Circular provides Time Extension for Approval of Fund u/s 80G: ITAT Restores matter to CIT(E) [Read Order]")
![Income Tax Annual Digest 2024: ITAT Cases [Part 31]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Annual-Digest-2024-ITAT-Cases-Income-Tax-Cases-Part-31-taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 31]")