Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

One Time Maintenance and Utility Deposits Form Part of Cost of Acquisition: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, allowed the assessee’s claim for inclusion of maintenance and utility deposits in cost of...

Disallowance Cannot Be Sustained After Settlement of Corresponding Income Under VSVS: ITAT [Read...

Income Tax Dept Enables ITR-2 Online Filing & Excel Utility for AY 2026-27

AO Crossed CASS‑Based Limited Scrutiny Mandate by Disallowing Loan Interest: ITAT Quashes Assessment...

Housing Loan Interest Allowable as Cost of Acquisition if Not Claimed u/s 24(b): ITAT [Read Order]

Education Trust’s Tax Registration Cannot Be Denied for Bona Fide Form Error:ITAT Restores 12A Registration Application [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has set aside an order of the Commissioner of Income Tax (Exemption) [CIT(E)] that rejected Sunrise Education...

Deduction of Foreign Travel and Hotel Expenses Against Capital Gains Requires Nexus With Property Transfer u/s 48: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, restored the assessee’s claim for deduction of foreign travel and hotel expenses incurred for sale of property after finding that the...

Additions u/s 56 made without Determining the Transfer Details held Unsustainable due to Misclassification: ITAT allows appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, recently allowed an appeal wherein additions under Section 56 were made without determining the transfer details. This was held to be ...

NRI Pursuing Appeal Before Wrong Forum Under Bona Fide Belief Constitutes Sufficient Cause for Delay: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, condoned delay of 737 days in filing appeal after finding that the assessee had initially pursued remedy before the CIT(A) instead of the ...

Clerical Error in Tax Audit Report Cannot Be Taxed as Income: ITAT Deletes Addition of ₹9.41 Lakh Contingent Liability [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that a mere clerical error in a tax audit report cannot be treated as undisclosed income, deleting an addition of Rs. 9.41...

Loan Credited without Lender Verification: ITAT Orders Fresh Review of ₹1.6 Cr Odisha Finlease Transaction [Read Order]

In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal has remanded the case to the Assessing Officer for fresh examination after finding procedural lapses in treating a...

Agricultural Land does not convert into Non-Agricultural Land if sold to Non-Agriculturist or Company: ITAT partly allows appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, partly allowed an appeal and held that agricultural land does not convert into non-agricultural land if sold to a non-agriculturist or a ...