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Bangalore ITAT Rules Demonetised Notes for Loan Recovery Not Taxable Under Section 68
The Bangalore ITAT ruled that demonetised notes deposited for loan recovery are not taxable under Section 68, offering major relief to cooperatives.
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BSNL VRS-2019 Compensation Exempt u/s 10(10B) as Retrenchment Pay: ITAT
ITAT Nagpur rules that BSNL VRS 2019 payouts qualify as tax-exempt retrenchment compensation under Section 10 10B. Learn how this impacts your taxes.
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ITAT Deletes ₹8.66 Lakh Section 69A Addition and Rejects 60% Tax Rate for AY 2017-18
Discover how the Hyderabad ITAT deleted a 8.66 lakh tax addition and rejected the steep 60 percent tax rate under Section 115BBE.
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Kerala High Court Sets Aside ITAT Order on Anonymous Donations, Orders Fresh Review
The Kerala High Court recently set aside an Income Tax Appellate Tribunal (ITAT) order concerning anonymous donations, directing authorities to conduct a fresh review of the case. According to official…
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Bombay High Court Rules Assessee Cannot Claim Relief on Amount Already Disallowed
The Bombay High Court ruled that taxpayers cannot claim relief on tax amounts they have already voluntarily disallowed in their original filings.
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Gujarat High Court Condones Delay in Form 10B Filing Due to CA’s Illness
Discover how the Gujarat High Court allowed a tax filing delay for a trust after their chartered accountant fell critically ill.
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ITAT Pune Sets Aside Denial of Section 80P(2)(d) Deduction on Interest Income
In a recent ruling, the Pune bench of the Income Tax Appellate Tribunal (ITAT) addressed a significant tax dispute involving a housing co-operative society. The judicial body ruled in favor…
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Andhra Pradesh High Court Upholds ITAT Decision on 166-Day Delay
The Andhra Pradesh High Court upheld the ITAT decision to reject a 166-day filing delay, citing the taxpayer's history of ignoring official notices.
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Ahmedabad ITAT Deletes On-Money Addition Due to Insufficient Evidence
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has ruled in favor of a taxpayer by deleting a substantial tax addition made under Section 69 of the Income…
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Ahmedabad ITAT Rules Only 8% Profit on Unaccounted Sales is Taxable
In a notable tax jurisprudence development, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has ruled that only the profit element of unaccounted sales is subject to taxation,…