![Section 56 (2)(vii) not Applicable to Non-Resident: ITAT deletes Income Tax Addition of Rs. 9.31 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-ITAT-delhi-Section-56-2vii-Income-Tax-Appellate-Tribunal-non-applicability-Income-Tax-Addition-taxscan.jpg "Section 56 (2)(vii) not Applicable to Non-Resident: ITAT deletes Income Tax Addition of Rs. 9.31 Cr [Read Order]")
Section 56 (2)(vii) not Applicable to Non-Resident: ITAT deletes Income Tax Addition of Rs. 9.31 Cr [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 9.31 crore citing the non-applicability of Section 56(2)(vii)...
![Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Day-to-day-regular-books-of-account-Taxpayer-Appeal-Regular-books-of-account-taxscan.jpg "Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]")
![ITAT deletes Penalty u/s  271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Bangalore-Reasonable-Cause-Penalty-Deletion-taxscan.jpg "ITAT deletes Penalty u/s  271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]")
![Registration of Charitable Trust u/s 12AA(3) cannot be cancelled in absence of valid ground: Calcutta HC dismisses Income Tax Dept’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Charitable-Trust-Calcutta-High-Court-income-tax-department-Income-Tax-Act-charitable-trust-under-Section-12AA3-Income-Tax-Registration-of-Charitable-Trust-taxscan.jpg "Registration of Charitable Trust u/s 12AA(3) cannot be cancelled in absence of valid ground: Calcutta HC dismisses Income Tax Dept’s Appeal [Read Order]")
Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the cash deposit made in the bank account was thoroughly and properly explained, resulting in the deletion of an addition of Rs....
![Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-Tax-news-TAXSCAN.jpg "Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]")
Taxpayer provides proper explanation and Documentary Evidence for Agricultural Income: ITAT deletes addition of Rs.16.4 Lakhs [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs.16.4 lakhs after the taxpayer provided a proper explanation and documentary evidence for their agricultural...
![Taxpayer provides proper explanation and Documentary Evidence for Agricultural Income: ITAT deletes addition of Rs.16.4 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/tax-news-taxpayer-agriculture-income-itat-itat-news-Income-Tax-Appellate-Tribunal-explanation-and-Documentary-Evidence-for-Agricultural-Income-TAXSCAN.jpg "Taxpayer provides proper explanation and Documentary Evidence for Agricultural Income: ITAT deletes addition of Rs.16.4 Lakhs [Read Order]")
Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]
The Kerala High Court condoned the delay of 11 days as the delay in filing an Income Tax appeal occurred due to the non-availability of a legal consultant. The court observed that filing an appeal in...
![Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Appeal-Kerala-High-Court-Kerala-HC-Legal-Consultant-TAXSCAN-1.jpg "Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]")
Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]
In a recent case, the Calcutta High Court allowed the deduction under section 80-ic(2)(a)(i) of the Income Tax Act for the manufacture of Mouth Freshener ( Pan Masala Without Tobacco ) Unicorn...
![Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Income-Tax-Mouth-Freshener-Mouth-freshener-Without-Tobacco-taxscan-1.jpg "Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]")
Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]
The Gujarat High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to allow income tax deduction for payment made to clear a mortgage, dismissing the appeal filed by the...
![Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Deduction-Income-Tax-TAXSCAN.jpg "Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]")
Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]
In a recent case, the Calcutta High Court Upheld the ITAT order which held that the application of a net profit rate of 8% on gross receipts under contract is valid unless illegality is proven. ...
![Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]")
![Non-Deduction of TDS u/s 40(a)(ia) of Income Tax Act: ITAT confirms Addition of Rs 10.8 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-TDS-Non-Deduction-of-TDS-Income-Tax-Appellate-Tribunal-Tax-Deducted-at-Source-TDS-Non-Deduction-taxscan.png "Non-Deduction of TDS u/s 40(a)(ia) of Income Tax Act: ITAT confirms Addition of Rs 10.8 Lakhs [Read Order]")