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Taxability of Employee Leave Encashment from Govt and Non-Govt Depts must be Examined Separately: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench has ruled that the taxability of employee leave encashment should be bifurcated between...

ITAT Orders Recalculation of Presumptive Income u/s 44 After Spotting Turnover Discrepancy [Read...

Max Estates’ Subsidiary Receives ₹21.13 Lakh Income Tax Demand Order from NFAC

Non Compliance to Income Tax Notices Due to working in Saudi Arabia: ITAT Remands Rs.1.90 Cr Matter...

Non-Payment of Advance Tax Makes S.249(4)(b) of Income Tax Act Inapplicable: ITAT [Read Order]

Penalty for Late Filing of Tax Return: ITAT quashes Order as Time-Barred [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal quashed a ₹54,700 penalty imposed under Section 272A(2)(e) of Income Tax Act,1961 for the late filing of a tax return, ruling it time-barred. ...

Failure to Consider Assessee's Delay Condonation Request u/s 249(3): ITAT Remands Case to CIT(A) [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal set aside the order of the Commissioner of Income Tax(Appeals) CIT(A), National Faceless Appeal Centre (NFAC) after it erroneously dismissed the...

ITAT Directs Deletion of Rs 28.57 Lakh Addition, Says AO Failed to Follow Due Process [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) Pune Bench has set aside an addition of Rs. 28.57 lakhs made under Section 143(1) of the Income Tax Act, 1961. The tribunal held...

Taxpayer Must Disclose Cash-in-Hand, Bank Balances, and Receivables Even Under Presumptive Taxation Scheme: ITAT [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that a taxpayer must disclose cash-in-hand, bank balances, and receivables even under the Presumptive Taxation Scheme, rejecting the...

ITAT Weekly Round - Up [Feb 1st-Feb 7th,2025]

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week from February 1st to February 7th. ...

Cash Deposits during Demonetisation: ITAT deletes Addition u/s 69A of Income Tax Act [Read Order]

In a recent case, the Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) deleted the additions made by the assessing officer (AO) on certain cash deposits made during demonetisation. The...

ITAT rules against S.80P Income Tax Exemptions for Cooperative Societies on Interest from Nationalized Banks: ITAT [Read Order]

In a noteworthy ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) held that cooperative societies are not eligible to avail tax exemptions under Section 80 of the Income Tax...

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