MSME Registration Number & Recognition Status mandatory in Filing New ITR Forms 5 & 6
Presumptive Taxation Simplified: Criteria Eased for Businesses Under Section 44AD In a move aimed at simplifying tax procedures for businesses,...
![Gujarat HC sets aside Reopening Notice Issued under Income Tax Act Without Disclosing Reason or Relevant Details [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Gujarat-HC-Reopening-Notice-Income-Tax-Act-Gujarat-HC-sets-aside-Reopening-Notice-Issued-under-Income-Tax-Act-taxscan.jpg "Gujarat HC sets aside Reopening Notice Issued under Income Tax Act Without Disclosing Reason or Relevant Details [Read Order]")
![No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-AO-Books-of-Accounts-ITAT-No-Addition-AO-without-Rejecting-Books-of-Accounts-ITAT-taxscan.jpg "No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]")
![Books of Account & Vouchers are not required in 44AD return: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Books-of-Account-Vouchers-Required-44AD-return-ITAT-Deletes-Income-Tax-Act-TAXSCAN.jpg "Books of Account & Vouchers are not required in 44AD return: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]")
![No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-addition-Income-Tax-Act-Income-Business-Consultancy-Service-ITAT-taxscan.jpg "No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]")
Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee has not provided any details as to the source of such cash deposited for the relevant financial year except for...
![Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-Income-Income-from-Business-Income-from-Business-Deposits-Income-Tax-Act-taxscan.jpg "Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]")
Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that deposits made as a reserve amount for the business during the demonetization period do not amount to unexplained income. The...
![Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Demonetization-Unexplained-Income-Deposit-Made-as-a-Reserve-Amount-for-Business-taxscan.jpg "Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]")
Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]
The service tax paid by the contractor for the value of the work is not included in gross receipts for the purposes of computing the assessee's presumptive tax under Section 44AD of the Income Tax...
![Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Service-Tax-Paid-by-Contractor-for-Value-of-Work-is-not-Part-of-Gross-Receipts-Service-Tax-Paid-by-Contractor-Service-Tax-Contractor-ITAT-Taxscan.jpg "Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]")
Commission Income earned from Real Estate Business shall not attract Section 44AD of the Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that commission income earned from real estate business should not be attracted to Section 44AD of the Income Tax Act. ...
![Commission Income earned from Real Estate Business shall not attract Section 44AD of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Commission-Income-earned-from-Real-Estate-Business-Commission-Income-Income-Real-Estate-Business-Income-Tax-Act-Commission-ITAT-Taxscan.jpg "Commission Income earned from Real Estate Business shall not attract Section 44AD of the Income Tax Act: ITAT [Read Order]")
![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]")
No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made on account of an unexplained closing case filed under Section 44AD of Income Tax Act 1961....
![No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Account-Unexplained-Closing-Cash-Closing-Cash-Account-of-Unexplained-Closing-Cash-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]")