Sunayana Dhal
![Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-submitting-Information-regarding-Cost-involved-furnishing-flats-ITAT-sustains-Addition-AO-taxscan.jpg "Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]")
Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) sustained the addition made by the Assessing Officer for the failure of the assessee to...
![Society not being Wholly/Substantially financed by Government cant raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Society-Society-not-being-Wholly-Government-Claim-Exemption-taxscan-1.jpg "Society not being Wholly/Substantially financed by Government cant raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]")
![Assessment Order passed without Proper Examination of Evidence shall be erroneous and prejudicial to Interest of Revenue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Proper-Examination-Evidence-erroneous-prejudicial-Interest-Revenue-ITAT-taxscan.jpg "Assessment Order passed without Proper Examination of Evidence shall be erroneous and prejudicial to Interest of Revenue: ITAT [Read Order]")
![Interest paid towards late Payment of TDS is not Compensatory in Nature: ITAT confirms disallowance u/s 37(1) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-paid-late-Payment-TDS-is-not-Compensatory-ITAT-confirms-disallowance-Income-Tax-Act-TAXSCAN.jpg "Interest paid towards late Payment of TDS is not Compensatory in Nature: ITAT confirms disallowance u/s 37(1) of Income Tax Act [Read Order]")
![Cash Deposited in Bank Account as a result of Earlier Withdrawal cant be treated as Undisclosed Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Cash-Deposited-Bank-Account-result-of-Earlier-Withdrawal-Undisclosed-Income-ITAT-TAXSCAN.jpg "Cash Deposited in Bank Account as a result of Earlier Withdrawal cant be treated as Undisclosed Income: ITAT [Read Order]")
ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) confirms the Income Tax addition under Section 68 of the Income Tax Act, 1961 in the absence of evidence proving the unsubstantial...
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
Value of Property assessed by SVA on date of Agreement to Sale shall be taken for computing full value of consideration for Transfer u/s 50C: ITAT [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the value of the property assessed by the stamp valuation authority (SVA) on the date of agreement to sale shall be taken for...
![Value of Property assessed by SVA on date of Agreement to Sale shall be taken for computing full value of consideration for Transfer u/s 50C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Value-Property-assessed-SVA-Agreement-computing-full-value-consideration-ITAT-taxscan.jpg "Value of Property assessed by SVA on date of Agreement to Sale shall be taken for computing full value of consideration for Transfer u/s 50C: ITAT [Read Order]")
Assessment concluded by Predecessor can't be Reopened u/s 147 of Income Tax Act merely on ground of "Change of Opinion": ITAT [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment concluded by the predecessor cannot be reopened under Section 147 of the Income Tax Act, 1961 merely on the...
![Assessment concluded by Predecessor cant be Reopened u/s 147 of Income Tax Act merely on ground of Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessment-Predecessor-Assessment-concluded-by-Predecessor-Income-Tax-Act-ITAT-taxscan.jpg "Assessment concluded by Predecessor cant be Reopened u/s 147 of Income Tax Act merely on ground of Change of Opinion: ITAT [Read Order]")
Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the interest income earned by a Non-resident of India from a foreign bank shall not be taxable in India under Section 5(2) of the...
![Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Interest-Income-Income-Interest-NRI-Foreign-Bank-Interest-Income-earned-by-a-NRI-from-a-Foreign-Bank-ITAT-taxscan.jpg "Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]")
Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be denied when the assessee enters into a sham transaction...
![Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Exemption-Income-Tax-Act-Assessee-Transaction-Paper-Companies-ITAT-taxscan.jpg "Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]")
Assessment can't exceed prescribed Scope of "Limited Scrutiny" invoking Revisionary jurisdiction u/s 263 of Income Tax Act: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment cannot exceed the prescribed scope of the limited scrutiny invoking the revisionary jurisdiction under Section 263...
![Assessment cant exceed prescribed Scope of Limited Scrutiny invoking Revisionary jurisdiction u/s 263 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessment-exceed-prescribed-Scope-Limited-Scrutiny-invoking-Revisionary-jurisdiction-Income-Tax-Act-ITAT-taxscan.jpg "Assessment cant exceed prescribed Scope of Limited Scrutiny invoking Revisionary jurisdiction u/s 263 of Income Tax Act: ITAT [Read Order]")