Judgement

The Income Tax Appellate Tribunal (ITAT), Bangalore, has held that the entire bank deposits cannot be treated as unexplained money only because the assessee failed to participate in the assessment proceedings.

ITAT Holds Business Turnover Cannot Be Treated as Unexplained Money Without Proper Verification

Articles

Taxpayers can pay income tax offline through the Pay at Bank Counter facility by generating a CRN challan on the e-filing portal and submitting payment at authorised banks via cash, cheque, or draft.

How to Pay Income Tax Offline Using Pay at Bank Counter Facility

ITAT deletes Section 68 addition after assessee substantiates unsecured loans with complete documentary evidence and banking records.

Section 68 Addition Deleted After Assessee Proves Identity, Creditworthiness and Genuineness: ITAT

News

Rectification order reduces tax adjustments, while appeal on assessment merits continues before the CIT(A).

Jubilant Generics Gets Rs 65.48 Crore Relief as Income Tax Rectification Cuts AY 2023-24 Tax Adjustment

The ITAT allows Section 80P deduction on interest earned from deposits with cooperative banks by cooperative societies.

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks by Sugar Federation.

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks by Sugar Federation

A simple guide explaining the tax treatment of right shares in India, covering entitlement, renunciation, cost of acquisition, and capital gains implications.

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ITAT Holds Business Turnover Cannot Be Treated as Unexplained Money Without Proper Verification

How to Pay Income Tax Offline Using Pay at Bank Counter Facility

Section 68 Addition Deleted After Assessee Proves Identity, Creditworthiness and Genuineness: ITAT

Jubilant Generics Gets Rs 65.48 Crore Relief as Income Tax Rectification Cuts AY 2023-24 Tax Adjustment

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks by Sugar Federation

Taxability of Rights Shares in India: Complete Guide with Capital Gains Treatment