![₹1.92 Cr Short-Term Deposit Interest: ITAT Remands to AO to Verify Capital vs. Revenue Treatment [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/500x300_2095185-cash-deposit-taxscan.webp "₹1.92 Cr Short-Term Deposit Interest: ITAT Remands to AO to Verify Capital vs. Revenue Treatment [Read Order]")
₹1.92 Cr Short-Term Deposit Interest: ITAT Remands to AO to Verify Capital vs. Revenue Treatment [Read Order]
The Jabalpur bench of Income Tax Appellate Tribunal (ITAT) remanded the matter relating to short-term deposit to the Assessing Officer to determine...
![Inconsistent Reasons for Not Valuing Rayagada Assets: IBBI Suspends Registration of Valuer for 6 Months [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/250x150_2095179-inconsistent-reasons-valuing-rayagada-assets-ibbi-taxscan.webp "Inconsistent Reasons for Not Valuing Rayagada Assets: IBBI Suspends Registration of Valuer for 6 Months [Read Order]")
![Karnataka HC Upholds ITAT Order, ₹6.61 Crore Cash Sales on Demonetisation Day Accepted as Genuine u/s 68 with Supporting Invoices and Stock Records [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/250x150_2095189-karnataka-hc-upholds-itat-demonetisation-day-taxscan.webp "Karnataka HC Upholds ITAT Order, ₹6.61 Crore Cash Sales on Demonetisation Day Accepted as Genuine u/s 68 with Supporting Invoices and Stock Records [Read Order]")
![Rural Infrastructure Tax & Dead Rent Disallowance u/s 43B: ITAT Remands to AO for Fresh Verification of Legitimacy and Correctness [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/250x150_2095188-itat-jabalpur-disallowance-rural-infrastructure-tax-taxscan.webp "Rural Infrastructure Tax & Dead Rent Disallowance u/s 43B: ITAT Remands to AO for Fresh Verification of Legitimacy and Correctness [Read Order]")
![ITAT Allows Gifts from Sisters, Rules Tax Dept Cant Reject Them Merely for Lack of Scrutiny on Donors [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/250x150_2095171-scrutny.webp "ITAT Allows Gifts from Sisters, Rules Tax Dept Cant Reject Them Merely for Lack of Scrutiny on Donors [Read Order]")
Lack of Due Diligence in Valuation of Rs. 1000 Crore Assets: IBBI Suspends Valuer's Registration for 2 Years [Read Order]
The Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of a Registered Valuer for a period of two years for lack of due diligence in the valuation of assets worth Rs....
![Lack of Due Diligence in Valuation of Rs. 1000 Crore Assets: IBBI Suspends Valuers Registration for 2 Years [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/500x300_2095164-ibbi-registration-of-suspended-registered-valuer-entity-stay-order-bombay-high-court-taxscan.webp "Lack of Due Diligence in Valuation of Rs. 1000 Crore Assets: IBBI Suspends Valuers Registration for 2 Years [Read Order]")
Fertilizer Dealer's 'October Spike' in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr Demonetization Addition [Read Order]
The Agra Bench of the Income Tax Appellate Tribunal (ITAT) dismissed a revenue appeal and upheld the deletion of an addition of Rs. 2.45 crore made on account of cash deposits during the...
![Fertilizer Dealers October Spike in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr Demonetization Addition [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/500x300_2095165-fertilizer-dealers-taxscan.webp "Fertilizer Dealers October Spike in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr Demonetization Addition [Read Order]")
Disallowance of Vehicle Running and Club Expenses under Income Tax Act: ITAT upholds Assessee’s Claims as Allowable Expenditure [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bench at Delhi, allowed the claims of assessee with respect to vehicle running and club expenses, as opposed to the order of CIT (A). The appellant...
![Disallowance of Vehicle Running and Club Expenses under Income Tax Act: ITAT upholds Assessee’s Claims as Allowable Expenditure [Read Order]](https://images.taxscan.in/h-upload/2025/10/09/500x300_2095158-vehicle-running-club-income-tax-act-itat-upholds-taxscan.webp "Disallowance of Vehicle Running and Club Expenses under Income Tax Act: ITAT upholds Assessee’s Claims as Allowable Expenditure [Read Order]")
ED warns Against Fake Summons and Impersonation of Officers, introduces QR Code System for Verification
The Directorate of Enforcement (ED) has issued an official warning cautioning the public about the circulation of fake summons and unscrupulous persons impersonating ED officers by which they cheat...
Banking Channel Records and Interest Paid Proves Loan Transaction: ITAT deletes ₹80.94 Lakh Unexplained Money Addition [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that clear evidence of a genuine loan transaction, conducted through banking channels and including the payment of interest...
![Banking Channel Records and Interest Paid Proves Loan Transaction: ITAT deletes ₹80.94 Lakh Unexplained Money Addition [Read Order]](https://images.taxscan.in/h-upload/2025/10/08/500x300_2094939-itat-ahmedabad-unexplained-money-addition-banking-channel-records-taxscan.webp "Banking Channel Records and Interest Paid Proves Loan Transaction: ITAT deletes ₹80.94 Lakh Unexplained Money Addition [Read Order]")
ITAT Allows Application of S.115BAB Tax Rate, Citing Prior Order Recognizing Assessee as Manufacturer [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the application of the section 115BAB of Income Tax Act,1961, tax rate for the assessee citing a prior assessment order that...
![ITAT Allows Application of S.115BAB Tax Rate, Citing Prior Order Recognizing Assessee as Manufacturer [Read Order]](https://images.taxscan.in/h-upload/2025/10/08/500x300_2094921-itat-application-s115bab-tax-rate-taxscan.webp "ITAT Allows Application of S.115BAB Tax Rate, Citing Prior Order Recognizing Assessee as Manufacturer [Read Order]")
Finance Act 2018’s Section 80AC Timely-Filing Requirement Applies Only from AY 2018-19: ITAT allows S.80P Deduction Despite Late ITR [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) held that the deduction under section 80P can be allowed as the amendment to section 80AC came in the year 2018, and it cannot be applied...
![Finance Act 2018’s Section 80AC Timely-Filing Requirement Applies Only from AY 2018-19: ITAT allows S.80P Deduction Despite Late ITR [Read Order]](https://images.taxscan.in/h-upload/2025/10/07/500x300_2094679-finance-act-2018-from-ay-2018-19-itat-itr-taxscan.webp "Finance Act 2018’s Section 80AC Timely-Filing Requirement Applies Only from AY 2018-19: ITAT allows S.80P Deduction Despite Late ITR [Read Order]")