![Income Tax Dept. Cannot Reopen Old Assessments Using Future Amendment Banning Goodwill Depreciation: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-Tax-Income-Tax-Department-Old-Assessments-Amendment-Banning-Goodwill-Depreciation-Gujarat-HC-taxscan.jpg "Income Tax Dept. Cannot Reopen Old Assessments Using Future Amendment Banning Goodwill Depreciation: Gujarat HC [Read Order]")
Income Tax Dept. Cannot Reopen Old Assessments Using Future Amendment Banning Goodwill Depreciation: Gujarat HC [Read Order]
In a recent ruling, the Gujarat High Court ruled that a future amendment disallowing depreciation on goodwill, which came into effect on April 1,...
![ITAT Invalidates Section 263 Revision: Questions PCITs Limited Scrutiny Jurisdiction under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Kolkata-Section-263-Income-Tax-Act-ITAT-Invalidates-Section-263-Taxscan.jpg "ITAT Invalidates Section 263 Revision: Questions PCITs Limited Scrutiny Jurisdiction under Income Tax Act [Read Order]")
![Income Tax Assessing Officer Cannot Remain Oblivious to Claim Without Enquiry: Kerala HC Dismisses Appeal of Cochin International Airport [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Kerala-HC-Kerala-High-Court-Income-Tax-Assessing-Officer-Income-Tax-Assessing-Officer-taxscan.jpg "Income Tax Assessing Officer Cannot Remain Oblivious to Claim Without Enquiry: Kerala HC Dismisses Appeal of Cochin International Airport [Read Order]")
![PACS Development Fund Contributions not Business Expense: ITAT upholds Disallownace Citing Binding Rajasthan High Court Precedent [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Jaipur-PACS-Development-Fund-PACS-Development-Business-Expense-Rajasthan-High-Court-Precedent-taxscan.jpg "PACS Development Fund Contributions not Business Expense: ITAT upholds Disallownace Citing Binding Rajasthan High Court Precedent [Read Order]")
![ITAT Confirms Taxability of Trust Receipts u/s 56(2)(x) of Income Tax Act citing Inclusion of Non-Relatives as Beneficiaries [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-Section-263-of-Income-Tax-Act-TAXSCAN.jpg "ITAT Confirms Taxability of Trust Receipts u/s 56(2)(x) of Income Tax Act citing Inclusion of Non-Relatives as Beneficiaries [Read Order]")
Incorrect Invocation of S.69A for disclosed Cash Deposits: ITAT quashes Rs. 44.5 Lakh Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the addition of Rs. 44.5 lakh, ruling the incorrect invocation of Section 69A of Income Tax Act, 1961 for disclosed cash deposits. ...
![Incorrect Invocation of S.69A for disclosed Cash Deposits: ITAT quashes Rs. 44.5 Lakh Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Income-Tax-Section-69A-of-Income-Tax-Act-Section-69A-of-ITA-taxscan.jpg "Incorrect Invocation of S.69A for disclosed Cash Deposits: ITAT quashes Rs. 44.5 Lakh Addition [Read Order]")
![ITAT allows Set Off of Accumulated Deficit against Current Year Surplus [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-ITAT-on-Accumulated-Deficit-Set-Off-taxscan-1.jpg "ITAT allows Set Off of Accumulated Deficit against Current Year Surplus [Read Order]")
Reassessment of Alleged Bogus LTCG/STCG Based on AO's Assumptions u/s 143(3) of Income Tax: ITAT remands case to CIT(A)
In a recent case, the Ranchi bench of the Income Tax Appellate Tribunal ( ITAT ) held that mere allegations of fake transactions cannot be the basis of further judicial proceedings. If any allegation...
Prior Period Expenses Integrable to Current Income Tax Assessment if Unclaimed: ITAT Remands HUDCO Matter [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently remanded an Income Tax Appeal filed by Housing and Urban Development Corporation ( HUDCO ), while maintaining that prior period...
![Prior Period Expenses Integrable to Current Income Tax Assessment if Unclaimed: ITAT Remands HUDCO Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-HUDCO-Housing-and-Urban-Development-Corporation-Income-Tax-Appellate-Tribunal-Prior-Period-Expenses-Integrable-taxscan.jpg "Prior Period Expenses Integrable to Current Income Tax Assessment if Unclaimed: ITAT Remands HUDCO Matter [Read Order]")
Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the order passed by the Deputy Commissioner of Income Tax ( DCIT ) for the assessment year ( AY ) 2021-22, where the assessing...
![Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Income-Tax-Section-1433-of-Income-Tax-Act-Income-Tax-Act-Taxscan.jpg "Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]")
ITAT dismisses Revenue’s Tax Appeal for Lack of Jurisdiction, grants Liberty to Approach Appropriate Bench [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the revenue's appeal for lack of jurisdiction and granted liberty to the revenue to approach the appropriate bench. The...
![ITAT dismisses Revenue’s Tax Appeal for Lack of Jurisdiction, grants Liberty to Approach Appropriate Bench [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Delhi-ITAT-ITAT-Dismisses-Revenues-Tax-Appeal-Lack-of-Jurisdiction-Appropriate-Bench-Grants-Liberty-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT dismisses Revenue’s Tax Appeal for Lack of Jurisdiction, grants Liberty to Approach Appropriate Bench [Read Order]")
CIT(A) Deletion of Bogus Expenditure Additions upheld: ITAT affirms need for Substantive Evidence [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the deletion of bogus expenditure additions made by the Commissioner of Income Tax (Appeals) [CIT(A)]. This decision reinforced the...
![CIT(A) Deletion of Bogus Expenditure Additions upheld: ITAT affirms need for Substantive Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Bogus-Expenditure-ITAT-Substantive-Evidence-taxscan.jpg "CIT(A) Deletion of Bogus Expenditure Additions upheld: ITAT affirms need for Substantive Evidence [Read Order]")