![[QnA] Can I Claim Income Tax Benefits on Selling Gifted Jewellery? Key Questions on Gift Taxation in India Answered](https://www.taxscan.in/wp-content/uploads/2024/12/Gift-tax-in-india.jpg "[QnA] Can I Claim Income Tax Benefits on Selling Gifted Jewellery? Key Questions on Gift Taxation in India Answered")
[QnA] Can I Claim Income Tax Benefits on Selling Gifted Jewellery? Key Questions on Gift Taxation in India Answered
Are gifts from relatives taxable in India? A: Gifts from relatives are exempted from Tax in India. It is defined under section 56(2)(x) of the...
![ITAT upholds Tax Deduction for Defect Liability Provision, Citing Reasonable Estimates and Industry Practices [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-ITAT-Tax-Deduction-Case-Tax-Deduction-for-Defect-Liability-Provision-case-taxscan.jpg "ITAT upholds Tax Deduction for Defect Liability Provision, Citing Reasonable Estimates and Industry Practices [Read Order]")
![Delhi HC Upholds ITAT Decision on Non-Deductibility of TDS for fees paid to Overseas Associated Enterprise under India-US DTAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-High-Court-TDS-India-US-DTAA-taxscan.jpg "Delhi HC Upholds ITAT Decision on Non-Deductibility of TDS for fees paid to Overseas Associated Enterprise under India-US DTAA [Read Order]")
![ITAT Upholds CIT(A)s Deletion of ₹2.25 Crore Disallowance, Finding No Evidence to Doubt Transaction Genuineness [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-No-Evidence-in-Transaction-Genuineness-case-taxscan.jpg "ITAT Upholds CIT(A)s Deletion of ₹2.25 Crore Disallowance, Finding No Evidence to Doubt Transaction Genuineness [Read Order]")
Concealment Or Inaccurate Particulars u/s 271(1)(c) of Income Tax Carry Different Meanings, Revenue Fails To Specify: Delhi HC Invalidates Penalty [Read Order]
In a recent ruling, the Delhi High Court invalidated penalty proceedings under Section 271(1)(c) of the Income Tax Act stating the different meanings of "concealment of income" and "furnishing...
![Concealment Or Inaccurate Particulars u/s 271(1)(c) of Income Tax Carry Different Meanings, Revenue Fails To Specify: Delhi HC Invalidates Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-Delhi-High-Court-invalidates-income-tax-penalty-Income-tax-penalty-under-Section-271-TAXSCAN.jpg "Concealment Or Inaccurate Particulars u/s 271(1)(c) of Income Tax Carry Different Meanings, Revenue Fails To Specify: Delhi HC Invalidates Penalty [Read Order]")
ITAT upholds CIT(A)'s Rs. 3L Disallowance of Gift, Boni, and Chandla Expenses due to Inadequate Documentation [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax (Appeals)[CIT(A)]'s disallowance of Rs. 3,00,000 out of Rs. 16,32,609 claimed for gift, boni, and...
![ITAT upholds CIT(A)s Rs. 3L Disallowance of Gift, Boni, and Chandla Expenses due to Inadequate Documentation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-CITA-Disallowance-of-Gift-Boni-Chandla-Expenses-Inadequate-Documentation-taxscan.jpg "ITAT upholds CIT(A)s Rs. 3L Disallowance of Gift, Boni, and Chandla Expenses due to Inadequate Documentation [Read Order]")
Reassessment Valid Despite Jurisdictional Challenge: Delhi HC Restores ITAT Proceedings [Read Order]
In a recent ruling, the Delhi High Court held that the reassessment of income under Section 147 of the Income Tax Act, 1961, was valid despite challenges to jurisdiction and restored the case to ITAT...
![Reassessment Valid Despite Jurisdictional Challenge: Delhi HC Restores ITAT Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-HC-Delhi-High-Court-ITAT-ITAT-Proceedings-Reassessment-urisdictional-Challenge-taxscan.jpg "Reassessment Valid Despite Jurisdictional Challenge: Delhi HC Restores ITAT Proceedings [Read Order]")
ITAT upholds Disallowance of Leave Encashment Provision, Highlighting Actual Payment Requirement u/s 43B(f) of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance of a leave encashment provision,emphasizing the requirement under Section 43B(f) of the Income Tax Act,1961 for...
![ITAT upholds Disallowance of Leave Encashment Provision, Highlighting Actual Payment Requirement u/s 43B(f) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Income-Tax-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Disallowance-of-Leave-Encashment-Provision-taxscan.jpg "ITAT upholds Disallowance of Leave Encashment Provision, Highlighting Actual Payment Requirement u/s 43B(f) of Income Tax Act [Read Order]")
ITAT allows Sales Promotion Expenses and Discount Provisions, Citing Minimal Impact on Revenue and Proper Documentation [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) allowed sales promotion expenses and discount provisions citing their minimal impact on the company’s revenue and the proper documentation...
![ITAT allows Sales Promotion Expenses and Discount Provisions, Citing Minimal Impact on Revenue and Proper Documentation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Allows-Sales-Promotion-ITAT-Ahmedabad-ITAT-Allows-Sales-Impact-on-Revenue-Impact-on-Proper-Documentation-Minimal-Impact-Minimal-Impact-on-Revenue-taxscan.jpg "ITAT allows Sales Promotion Expenses and Discount Provisions, Citing Minimal Impact on Revenue and Proper Documentation [Read Order]")