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ITAT quashes Disallowance of Interest on Credit already confirmed to be Genuine [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal ( ITAT ), Surat Bench, quashed the disallowance of interest on an unsecured loan, which had already been confirmed...

Validity of Cash Deposits as Agricultural Income u/s 68: ITAT Finds Addition Unjustifiable [Read...

S. 263 of Income Tax Act cannot be initiated based on “Borrowed Satisfaction" ITAT [Read Order]

Unexplained Cash Deposits during Demonetization: ITAT Limits Addition to ₹10 Lakhs Considering...

Genuineness of Share Capital: ITAT quashes Rs. 2.62 Crore Addition u/s 68 [Read Order]

Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that in the present case, long-term capital gains cannot be deemed bogus as the assessing officer ( AO ) fails...

ITAT invalidates Reassessment proceeding: No addition made by AO in respect of the issue for which reopening was made

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the reopening of the assessment was bad in law as the assessing officer ( AO ) made no addition in respect...

ITAT Remands Case Back to CIT(A) for Fresh Adjudication Over Unsecured Loans of Rs.1.42 Crore [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded a case involving unsecured loans of Rs.1.42 crore back to the Commissioner of Income Tax (Appeals), CIT(A) for fresh...

₹3 Crores Gift from NRI Son to Mother Deemed Valid and Non-Taxable: ITAT Citing Donor's Sufficient Funds [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Rs. 3 crores gift received by the assessee from her NRI son was deemed valid and non-taxable under the Income Tax Act citing...

Income Tax Case Digest: Addition on Cash Deposits - Part 1

Unexplained cash deposits have been a focal point of scrutiny in the Indian income tax framework. Section 69A of the Income Tax Act, 1961, is a crucial provision empowering tax authorities to tax...

Income Tax - Case Digest - Addition on Cash - Digest - Income Tax Act 1961- taxscan

Madras HC rules 60% Tax Rate for Demonetization Deposits u/s 115BBE applies Prospectively from 01.04.2017, Orders 30% Tax Reassessment [Read Order]

In a recent ruling, the Madurai Bench of Madras High Court ruled that the increased 60% tax rate under Section 115BBE of the Income Tax Act applies prospectively from 01.04.2017 and ordered...

Madras HC -Tax Rate for Demonetization Deposits- Prospectively -Tax Reassessment - taxscan

ITAT Weekly Round Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week 9th November 2024 to 15th November...

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