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![No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Addition-AIR-information-Profit-booked-offered-to-Tax-ITAT-TAXSCAN.jpg "No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]")
No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no addition shall be made on the basis of Annual Information Return (AIR)...
![No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/income-tax-addition-WIP-ITAT-TAXSCAN.jpg "No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]")
![Income from Sale of Land held as Stock in Trade taxable under Business Income When Expenses incurred shown under WIP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-taxable-business-income-WIP-ITAT-TAXSCAN.jpg "Income from Sale of Land held as Stock in Trade taxable under Business Income When Expenses incurred shown under WIP: ITAT [Read Order]")
![Entire expenses claimed as Compensation and Tenant Payment not to be capitalised as WIP: ITAT orders Fresh Examination [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Compensation-Tenant-Payment-WIP-ITAT-fresh-examination-taxscan.jpeg "Entire expenses claimed as Compensation and Tenant Payment not to be capitalised as WIP: ITAT orders Fresh Examination [Read Order]")
Notional Valuation cannot be made a Basis for Addition: ITAT deletes Addition of Closing Construction WIP [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that notional valuation cannot be made a basis for addition and deletes addition of closing construction work-in-progress (WIP). The...
![Notional Valuation cannot be made a Basis for Addition: ITAT deletes Addition of Closing Construction WIP [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Notional-Valuation-ITAT-Construction-WIP-taxscan.jpg "Notional Valuation cannot be made a Basis for Addition: ITAT deletes Addition of Closing Construction WIP [Read Order]")