Judgement

The tribunal noted that the company had already included Rs 19,42,456 in total receipts of Rs 64,30,020. It found that the AO's treatment of the interest income was unjustified.

Interest Income from Money lending business eligible for 44AD: ITAT

The ITAT Bangalore holds that the presence of nominal members does not disentitle deduction under Section 80P.

ITAT: Co-operative Society Eligible for Section 80P Deduction Despite Nominal Members; Interest Income Partly Taxable as “Other Sources”

ITAT ruled that duly recorded cash deposits cannot be treated as unexplained and that income cannot be arbitrarily estimated without rejecting the books of accounts.

ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books

ITAT holds land, which remains agricultural despite temporary non-use and allows a capital gains exemption claim.

Agricultural Land Status Retained Despite Temporary Non-Use, Rules ITAT

Articles

A concise comparison of the Old and New Tax Regimes for FY 2026-27, highlighting key differences in deductions, exemptions, and overall tax benefits to help you choose the most suitable option.

Old vs New Tax Regime for Tax Year 2026-27

The ITAT cited the Supreme Court's ruling that a mere wrong claim, without concealing facts, does not amount to "furnishing inaccurate particulars".

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Interest Income from Money lending business eligible for 44AD: ITAT

ITAT: Co-operative Society Eligible for Section 80P Deduction Despite Nominal Members; Interest Income Partly Taxable as “Other Sources”

ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books

Agricultural Land Status Retained Despite Temporary Non-Use, Rules ITAT

Old vs New Tax Regime for Tax Year 2026-27

Penalty Under Section 271(1)(c) Cannot Be Imposed When No Income is Concealed: ITAT