![Chit Fund Companys Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078706-itat-lack-of-evidence-taxscan.webp "Chit Fund Companys Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments [Read Order]")
Chit Fund Company's Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cochin Bench has dismissed an appeal filed by a Thrissur-based chit fund company. The tribunal upheld the...
![Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Madras-HC-WP-Revision-Order-Scrutiny-Assessment-Order-IT-Act-Statutory-Appeal-taxscan.jpg "Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]")
![Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Immovable-property-Cheque-Based-Property-taxscan.jpg "Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]")
Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]
The Madras High Court quashed reassessment initiated beyond 4 years on the disclosure of sale of agricultural land in the return of income during scrutiny assessment. The case of the petitioner,...
![Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Sale-of-Agricultural-Land-Scrutiny-Assessment-Return-of-Income-Reassessment-High-Court-taxscan.jpg "Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]")
Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) upheld the determination of income under Section 44D of the Income Tax Act 1961 holding that the sale and purchase transaction in its own...
![Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Determination-of-Income-ITAT-upholds-Income-Tax-Act-Income-Tax-ITAT-ITAT-News-Tax-News-Sale-and-Purchase-TAXSCAN.jpg "Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]")
Failure of AO in Presentation of Requisite Materials Proves Successful Discharge of Onus Casted upon Assessee: ITAT deletes Addition [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Under Section 68 of the Income Tax Act, 1961, the assessee is required to establish (a) identity (b) Genuineness of the...
![Failure of AO in Presentation of Requisite Materials Proves Successful Discharge of Onus Casted upon Assessee: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-of-AO-AO-Presentation-of-Requisite-Materials-Requisite-Materials-Discharge-of-Onus-Assessee-ITAT-deletes-Addition-ITAT-Taxscan.jpg "Failure of AO in Presentation of Requisite Materials Proves Successful Discharge of Onus Casted upon Assessee: ITAT deletes Addition [Read Order]")
No Live Link b/w AIR Information and AO’s Finding that Assessee is Beneficiary of Fraudulent Transactions: ITAT Quashes Re-Assessment Proceedings [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that Mere ground of being benefitted from fraudulent transaction doesn't prove being a beneficiary to such fraud. The appellant, an...
![No Live Link b/w AIR Information and AO’s Finding that Assessee is Beneficiary of Fraudulent Transactions: ITAT Quashes Re-Assessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Live-Link-between-AIR-Information-and-AOs-Finding-AIR-Information-Assessee-is-Beneficiary-of-Fraudulent-Transactions-ITAT-Re-Assessment-Proceedings-Taxscan.jpg "No Live Link b/w AIR Information and AO’s Finding that Assessee is Beneficiary of Fraudulent Transactions: ITAT Quashes Re-Assessment Proceedings [Read Order]")
Rectification Order passed u/s 154 of Income Tax Act without Proper Verification: ITAT directs Re-Adjudication [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT) directed re-adjudication for the rectification order passed under section 154 of the Income Tax Act, 1961 without proper...
![Rectification Order passed u/s 154 of Income Tax Act without Proper Verification: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Rectification-Order-Income-Tax-Act-Income-Tax-Act-without-Proper-Verification-Proper-Verification-ITAT-directs-re-adjudication-ITAT-Taxscan.jpg "Rectification Order passed u/s 154 of Income Tax Act without Proper Verification: ITAT directs Re-Adjudication [Read Order]")
Reassessment initiated during the pendency of Scrutiny Assessment: Delhi HC issues Notice [Read Order]
The division bench of Delhi High Court consisting Justice Rajiv Shakdher and Justice Tara Vitasta Ganju issued the notice to the respondent side on the petition filed by the petitioner against the...
