Failure to Prove Authenticity of Loan Transactions: ITAT holds Unsecured Loans as Unexplained Cash Credits u/s 68 of Income Tax Act
The Raipur bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the decision of the lower authority held that unsecured loans are...
![Penalty u/s 271D cannot be Imposed after the Expiry of larger Period of Limitation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Imposed-after-the-Expiry-Expiry-Expiry-of-larger-Period-of-Limitation-Limitation-ITAT-Income-Tax-Taxscan.jpg "Penalty u/s 271D cannot be Imposed after the Expiry of larger Period of Limitation: ITAT [Read Order]")
![Belated Remittances Towards Employees Contribution to EPF & ESI: ITAT sustains Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Belated-Remittances-Towards-Employees-Contribution-to-EPF-ESI-Employees-Contribution-to-EPF-ESI-Employees-Contribution-EPF-ESI-ITAT-sustains-Disallowance-ITAT-Disallowance-Taxscan.jpg "Belated Remittances Towards Employees Contribution to EPF & ESI: ITAT sustains Disallowance [Read Order]")
![Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-of-Donation-Donation-made-to-Trust-Income-Tax-ITAT-taxscan.jpg "Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]")
![Interest Awarded under Land Acquisition Act is not Taxable: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-Awarded-Land-Acquisition-Act-Taxable-ITAT-revision-order-TAXSCAN.jpg "Interest Awarded under Land Acquisition Act is not Taxable: ITAT quashes Revision Order [Read Order]")
No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition made under section 143(1) of the Income Tax Act 1961 as no exemption was claimed in the preceding year on the...
![No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-No-Exemption-Preceding-Year-Purchase-of-Fixed-Assets-Fixed-Assets-ITAT-addition-Income-Tax-taxscan.jpg "No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]")
Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that income tax penalty under Section 270A of the Income Tax Act, 1961 cannot be levied, when...
![Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Disallowance-Income-Tax-Penalty-Estimate-Basis-ITAT-Income-Tax-Taxscan.jpg "Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]")
Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that Section 54F Deduction under the Income Tax Act, 1961 can be allowed even if amount not Deposited in Capital Gains Account...
![Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Deduction-Amount-not-Deposited-Capital-Gains-Account-Scheme-Capital-Gain-ITAT-Income-Tax-Taxscan.jpg "Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]")
![Reopening of Assessment without any Tangible Information is not valid: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Reopening-of-Assessment-Tangible-Information-Bombay-High-Court-Assessment-Taxscan.jpg "Reopening of Assessment without any Tangible Information is not valid: Bombay HC [Read Order]")
TDS Credit in respect of Interest Received from Deceased Wife’s Deposit cannot be Denied to Assessee: ITAT [Read Order]
The Cochin Income Tax Appellate Tribunal ( ITAT ) has recently held that the Tax Deduction at Source credit in respect of interest received from the deceased wife’s deposit could not be denied...
![TDS Credit in respect of Interest Received from Deceased Wife’s Deposit cannot be Denied to Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/TDS-Credit-TDS-Interest-Received-Interest-Deposit-Deceased-Wife-Assessee-ITAT-Taxscan.jpg "TDS Credit in respect of Interest Received from Deceased Wife’s Deposit cannot be Denied to Assessee: ITAT [Read Order]")
![Rent from Sub-Letting Property Taxable as “Income from Other Sources”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Rent-Sub-Letting-Property-Taxable-Income-from-Other-Sources-ITAT-Taxscan.jpg "Rent from Sub-Letting Property Taxable as “Income from Other Sources”: ITAT [Read Order]")