![No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Bank-loan-tax-TAXSCAN.webp "No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]")
No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]
In a recent judgment, the Income Tax Appellate Tribunal ( ITAT ) in Mumbai ruled in favor of an assessee, Ashok Jasraj Jain, dismissing an appeal by...
![Initiation of Legal Proceedings against Mercator Ltd during Moratorium: ITAT upholds IBC Provision against Deputy Commissioner of Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-IBC-Insolvency-and-Bankruptcy-Code-Mercator-Ltd-Legal-Proceedings-taxscan.jpg "Initiation of Legal Proceedings against Mercator Ltd during Moratorium: ITAT upholds IBC Provision against Deputy Commissioner of Income Tax [Read Order]")
![Income Tax Reassessment after Expiry of 4 years due to Non-Filing of GST by Supplier is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Reassessment-Expiry-of-4-years-due-Non-Filing-GST-Supplier-Invalid-ITAT-taxscan.jpg "Income Tax Reassessment after Expiry of 4 years due to Non-Filing of GST by Supplier is Invalid: ITAT [Read Order]")
![Income Tax Reassessment after Expiry of 4 years due to Non-Filing of GST by Supplier is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Mumbai-GST-Income-Tax-Income-Tax-Reassessment-Goods-and-services-tax-taxscan.jpg "Income Tax Reassessment after Expiry of 4 years due to Non-Filing of GST by Supplier is Invalid: ITAT [Read Order]")
![Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Capital-Gains-Tax-income-tax-Reassessment-Section-148-Income-Tax-Act-Income-tax-act-ITAT-Delhi-TAXSCAN.jpg "Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]")
Issuance of Notice in name of Non-existing entity is Non-curable defect u/s 292B of Income Tax Act: ITAT quashes Reassessment u/s 148 [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) quashed the reassessment, stating that the issuance of a notice in the name of a non-existing entity is a non-curable defect under Section...
![Issuance of Notice in name of Non-existing entity is Non-curable defect u/s 292B of Income Tax Act: ITAT quashes Reassessment u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/income-tax-act-ITAT-issuance-of-notice-ITAT-delhi-income-tax-appellant-tribunal-under-Section-292B-of-the-Income-Tax-Act-taxscan.jpg "Issuance of Notice in name of Non-existing entity is Non-curable defect u/s 292B of Income Tax Act: ITAT quashes Reassessment u/s 148 [Read Order]")
Addition on Sale of Partner's Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment proceedings, noting that the firm used a partner's property as its address, but the property had been sold...
![Addition on Sale of Partners Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-act-ITAT-delhi-Partners-property-sold-properties-TAXSCAN.jpg "Addition on Sale of Partners Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]")
Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14 A of the Income Tax Act, 1961 is not available in respect of investments not yielding tax-free...
![Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Income-tax-Tax-Free-Income-Tax-free-income-investments-TAXSCAN.jpg "Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]")
No Order can be Passed in Name of Non-Existent Entity: ITAT quashes Income Tax Assessment Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the Income Tax Assessment Order, stating that no order can be passed in the name of a non-existent entity. The issue to be...
![No Order can be Passed in Name of Non-Existent Entity: ITAT quashes Income Tax Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Mumbai-Income-Tax-Assessment-Order-Order-Passed-Non-Existent-Entity-Income-Tax-Income-Tax-Update-Taxscan.jpg "No Order can be Passed in Name of Non-Existent Entity: ITAT quashes Income Tax Assessment Order [Read Order]")
![ITAT directs to verify Peak Credits in Undisclosed Bank Account of ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Delhi-Income-tax-Tax-news-ICICI-Bank-Undisclosed-Bank-Account-taxscan.jpg "ITAT directs to verify Peak Credits in Undisclosed Bank Account of ICICI Bank [Read Order]")
No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition made under Section 68 of the Income Tax Act, 1961 on unsecured loan obtained from a firm by the Assessee on the...
![No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Income-Tax-Act-Section-68-of-the-Income-Tax-Act-Income-Tax-Tax-news-Taxscan.jpg "No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]")
