Income Tax Case Digest: Addition on Bogus Purchases under Income Tax Act
The word bogus refers to fake, false, sham, or not genuine. Bogus purchases under the Income Tax Act, 1961 refer to transactions where taxpayers...
![ITAT remands Case to CIT(A) for Fresh Review, Citing Procedural Deficiencies in Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Chennai-Commisioner-of-Income-Tax-Assessment-Order-Assessment-Order-Issues-Taxscan.jpg "ITAT remands Case to CIT(A) for Fresh Review, Citing Procedural Deficiencies in Assessment Order [Read Order]")
![Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-Income-tax-Debatable-Income-Tax-Matter-Rectification-in-income-tax-matter-Income-Tax-Appellate-Tribunal-taxscan.jpg "Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]")
![Disregard of Additional Evidence By CIT(A): ITAT Remanda Ad Hoc Income Tax Disallowance to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-Ad-Hoc-Income-Tax-Income-tax-Income-Tax-Disallowance-Disregard-of-Additional-Evidence-taxscan.jpg "Disregard of Additional Evidence By CIT(A): ITAT Remanda Ad Hoc Income Tax Disallowance to AO [Read Order]")
Delhi HC Sets Aside Deduction of Tax Exempted Allowance in Insurance Amount Awarded By MACT [Read Order]
The Delhi High Court set aside the deduction of tax exempted allowance in the insurance amount awarded by the Motor Accidents Claims Tribunal (MACT). United India Insurance Co Ltd, the appellant...
![Delhi HC Sets Aside Deduction of Tax Exempted Allowance in Insurance Amount Awarded By MACT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Delhi-High-Court-Deduction-of-Tax-Allowance-Insurance-Amount-Awarded-MACT-taxscan.webp "Delhi HC Sets Aside Deduction of Tax Exempted Allowance in Insurance Amount Awarded By MACT [Read Order]")
Income Tax Department Conducts Search and Seizure Operation in 40 premises of J&K based Business Group; Seizes Rs. 1.70 Crores of Unaccounted Cash
In a significant operation conducted on October 9, 2023, the Income Tax Department undertook a thorough search and seizure action in Jammu & Kashmir, focusing on a prominent business...
Amount Received from Sale of Khadi Yarn already added to Taxable Income: Delhi HC directs Re-adjudication to verify Additional Documents [Read Order]
In a significant case, the Delhi High Court directed the Re-adjudication to verify additional documents amount received from the sale of khadi yarn already added to taxable income. RTPL...
![Amount Received from Sale of Khadi Yarn already added to Taxable Income: Delhi HC directs Re-adjudication to verify Additional Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Amount-Received-Sale-of-Khadi-Yarn-Taxable-Income-Delhi-HC-directs-Re-adjudication-verify-Additional-Documents-taxscan.jpg "Amount Received from Sale of Khadi Yarn already added to Taxable Income: Delhi HC directs Re-adjudication to verify Additional Documents [Read Order]")
Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the amount received as reimbursement of service tax not includible in gross turnover for purpose of computing taxable...
![Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Amount-Received-Reimbursement-Service-Tax-Reimbursement-of-Service-Tax-Gross-Turnover-Computing-Taxable-Income-Taxable-Income-Taxable-Income-Tax-Act-taxscan.jpg "Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]")
Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the income has to be computed after making disallowance and 40% resultant income to be treated as taxable income. The...
![Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Income-has-to-be-Computed-Disallowance-Resultant-Income-Taxable-Income-ITAT-Income-Tax-taxscan.jpg "Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]")