![Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-ITAT-decision-bank-statement-monies-ITAT-and-bank-TAXSCAN.jpg "Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]")
Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal (ITAT) addition under Section 69A of the Income Tax Act , 1961...
![Delhi HC directs Income Tax Dep to Allow Personal Hearings through National Faceless Assessment Center [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Delhi-high-court-income-tax-act-income-tax-department-assessment-center-TAXSCAN.jpg "Delhi HC directs Income Tax Dep to Allow Personal Hearings through National Faceless Assessment Center [Read Order]")
![ITAT allows deduction claimed u/s 54F of Income Tax Act with respect all apartment units received pursuant to JDA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-bangalore-Joint-Development-Agreement-tax-updates-taxscan.jpg "ITAT allows deduction claimed u/s 54F of Income Tax Act with respect all apartment units received pursuant to JDA [Read Order]")
![ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act, Citing No Inaccurate Income Particulars or Deliberate Concealment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Deletes-Penalty-Income-tax-penalty-tax-updates-taxscan.jpg "ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act, Citing No Inaccurate Income Particulars or Deliberate Concealment [Read Order]")
![No addition warranted u/s 56(2)(viib) of Income Tax Act as difference between issue Price and Value Adopt by AO is Minuscule [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Delhi-Income-Tax-Act-Assessing-officer-tax-updates-taxscan.jpg "No addition warranted u/s 56(2)(viib) of Income Tax Act as difference between issue Price and Value Adopt by AO is Minuscule [Read Order]")
Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]
The two member bench of Pune Income Tax Appellate Tribunal ( ITAT ) canceled the application of registration filed under Section 12A of the Income Tax Act, 1961 after observing that the income...
![Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-commercial-business-activities-leasing-of-building-TAXSCAN.jpg "Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]")
Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) directed readjudication after finding that the lower authority failed to examine the ownership and leasehold rights of property...
![Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-Failure-to-examine-property-Leasehold-rights-TAXSACN.jpg "Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]")
Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) held that the receipt of Interconnect Utility Charges ( IUC ) charges cannot be taxed as Royalty under Article 12 India-...
![Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-India-Japan-DTAA-Article-12-of-India-Japan-DTAA-income-tax-updates-taxscan.jpg "Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]")
Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]
The Two member bench of Pune Income Tax Appellate Tribunal ( ITAT ) held that constructing and maintaining houses, housing colonies for the low income group people are not charitable purposes...
![Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-Housing-for-low-income-groups-come-of-small-house-TAXSCAN.jpg "Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]")
Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed Rs. 40 lakhs addition while calculating Long-Term Capital Gains ( LTCG ) from the sale of property as the taxpayer filed copies...
![Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-in-2024-ITAT-ruling-on-LTCG-addition-Long-term-capital-gain-TAXSCAN.jpg "Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]")
Timeline Prescribed for Filing Form No. 10AB for recognition u/s 12 A of Income Tax Act has been Extended up to 30.09.2023: ITAT allows Appeal [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the appeal as the timeline prescribed for filing Form No. 10AB for recognition under section 12A of the Income Tax Act, 1961...
![Timeline Prescribed for Filing Form No. 10AB for recognition u/s 12 A of Income Tax Act has been Extended up to 30.09.2023: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-Tax-Act-section-12A-of-the-Income-Tax-Act-Tax-updates-ITAT-chennai-taxscan.jpg "Timeline Prescribed for Filing Form No. 10AB for recognition u/s 12 A of Income Tax Act has been Extended up to 30.09.2023: ITAT allows Appeal [Read Order]")
Transaction under Family Settlement Agreement does not Amount to Transfer: ITAT deletes Addition u/s 69 of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 69 of the Income Tax Act, 1961 ruling that a transaction under a family settlement agreement does not...
![Transaction under Family Settlement Agreement does not Amount to Transfer: ITAT deletes Addition u/s 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-ITAT-ruling-on-family-settlement-Income-Tax-Act-ITAT-ruling-section-69-TAXSCAN.jpg "Transaction under Family Settlement Agreement does not Amount to Transfer: ITAT deletes Addition u/s 69 of Income Tax Act [Read Order]")