Credit Card payment without showing Income Source attracts S. 69A Addition
In today's world, cashless transactions are predominantly ruling and most of us make our transactions through credit and debit cards. Section 69 of...
![Income Tax Annual Digest 2024: ITAT Cases [Part 1]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Annual-Digest-2024-Annual-Digest-2024-Annual-Digest-Taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 1]")
![ITAT quashes Tax Reassessment Orders: Due to Lack of Specific Evidence in Search Operation Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-New-Delhi-Income-Tax-Appellate-Tribunal-Tax-Reassessment-Orders-case-TAXSCAN.jpg "ITAT quashes Tax Reassessment Orders: Due to Lack of Specific Evidence in Search Operation Documents [Read Order]")
Profits from Sale of Jaggery is Taxable, Not considered as Agricultural Income: Madras HC [Read Order]
In a recent ruling, the High Court of Madras held that profits from the sale of jaggery are taxable and that sugarcane and jaggery are different commodities and rejected the agricultural claim made...
![Profits from Sale of Jaggery is Taxable, Not considered as Agricultural Income: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Madras-High-Court-Agricultural-Income-Sale-of-Jaggery-Is-Taxable-Taxscan.jpg "Profits from Sale of Jaggery is Taxable, Not considered as Agricultural Income: Madras HC [Read Order]")
Business Loss Claim by Punjab National Bank on Held-To-Maturity Securities u/s 45(2) of Income Tax Act: Delhi HC Remands Case to AO for Reassessment [Read Order]
The Delhi High Court, in a recent decision, remanded a case to the Assessing Officer ( AO ) for a fresh assessment of a case relating to held-to-maturity ( HTM ) securities. The petitioner, Punjab...
![Business Loss Claim by Punjab National Bank on Held-To-Maturity Securities u/s 45(2) of Income Tax Act: Delhi HC Remands Case to AO for Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-Delhi-High-Court-Income-Tax-Act-Punjab-National-Bank-TAXSCAN.jpg "Business Loss Claim by Punjab National Bank on Held-To-Maturity Securities u/s 45(2) of Income Tax Act: Delhi HC Remands Case to AO for Reassessment [Read Order]")
Lack of Prejudice to Revenue and Non-compliance by Assessee, ITAT Remands Case for De Novo Assessment u/s 144 & 147 [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) remanded the case to the Assessing Officer (AO) for fresh examination due to non-compliance by the assessee and lack of prejudice to the...
![Lack of Prejudice to Revenue and Non-compliance by Assessee, ITAT Remands Case for De Novo Assessment u/s 144 & 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Ahmedabad-SECTION-144-SECTION-147-ITAT-Remands-De-Novo-Assessment-Lack-of-Prejudice-Lack-of-Prejudice-to-Revenue-taxscan.jpg "Lack of Prejudice to Revenue and Non-compliance by Assessee, ITAT Remands Case for De Novo Assessment u/s 144 & 147 [Read Order]")
Unexplained Cash Deposits u/s 69A: ITAT Remands Case to AO for Reassessment citing Natural Justice Violation [Read Order]
In a recent ruling, the Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the principles of natural justice demand the reassessment of a case if one party was not given the...
![Unexplained Cash Deposits u/s 69A: ITAT Remands Case to AO for Reassessment citing Natural Justice Violation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Income-Tax-Unexplained-cash-deposits-taxscan.jpg "Unexplained Cash Deposits u/s 69A: ITAT Remands Case to AO for Reassessment citing Natural Justice Violation [Read Order]")
ITAT dismisses Appeal as withdrawn after Condonation of Delay and Grant of S. 80G(5) Approval [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal as withdrawn after the delay in filing the application for approval under Section 80G(5)(iii) of the Income Tax Act,...
![ITAT dismisses Appeal as withdrawn after Condonation of Delay and Grant of S. 80G(5) Approval [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Condonation-of-Delay-Section-80G5iii-of-Income-Tax-Act-taxscan.jpg "ITAT dismisses Appeal as withdrawn after Condonation of Delay and Grant of S. 80G(5) Approval [Read Order]")
‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]
In a recent ruling, the Lucknow bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the appeal filed by the assessee and condoned the 2564-day delay in filing the appeal, as no undue benefit...
![‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appellate-Tribunal-Assessment-order-Appeal-against-any-Assessment-order-ITAT-condones-ITAT-Lucknow-Undue-Benefit-by-not-preferring-Appeal.jpg "‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]")