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Separate Additions for Cash Deposits and Business Expenses Unjustified When Income Taxed U/s 44AD: ITAT

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has held that cash deposits forming...

Interest on Enhanced Compensation for Compulsory Acquisition of Agricultural Land Not Taxable as ‘Other Sources’: ITAT Mumbai

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest...

Unauthenticated WhatsApp Chats and Third-Party Statement Can’t Prove Cash Payment for Property: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion...

Waiting for Favourable Ruling Is Not ‘Sufficient Cause’: ITAT Refuses to Condone 11 Years Delay To Former Cricketer

The Income Tax Appellate Tribunal (ITAT), Mumbai, has refused to condone a delay of...

Vodafone Recharge Distributor’s Bank Transactions Not Turnover: ITAT Deletes ₹1.5 Lakh Tax Audit Penalty

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has deleted a penalty of ₹1.5...

Reassessment Initiated by ITO Beyond Pecuniary Jurisdiction Invalid: ITAT Deletes ₹2 Crore Unexplained Credit Addition

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...

Income Tax Officer Can’t Use Last-Minute Valuation Reference to Extend Assessment Limitation: Gujarat High Court

The Gujarat High Court has quashed an Income Tax Department reference made to the...

Transport Expenses Can’t Be Disallowed After AO Verifies Transactions as Genuine: Income Tax Appeal Allowed [READ ODER]

The National Faceless Appeal Centre (NFAC) has deleted an addition of ₹42.09 lakh made...

Mere Surge in Penny Stock Price Cannot Make Capital Gains Bogus Without Evidence Linking Assessee to Manipulation: Madras High Court

The Madras High Court has held that a steep and commercially inexplicable increase in...

No Mandatory Rs.75K Or Rs. 1.50 Lakh Late Fee on Delayed Tax Audit Report for FY 2025-26

Taxpayers filing their Tax Audit Reports for Financial Year 2025-26 after the prescribed deadline...

BookMyShow Convenience Fee Is Not Commission; No TDS Liability U/S 194H: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the...

Income Tax Reassessment Notice Issued Beyond 3 Years With CIT’s Approval Invalid: ITAT

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...

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The Delhi High Court has refused regular bail to a 70-year-old man accused of...

Rs. 22.44 Crore Customs Duty Evasion Case Involving Alleged Routing of Chinese Steel Pipes Through Thailand: Mumbai Court Grants Bail

The Additional Chief Judicial Magistrate at Esplanade, Mumbai, has granted bail to a businessman...