![Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Sale-Receipts-recorded-Income-or-Loss-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) observed that the Sale receipts already recorded as income or loss at time of sale...
![ITAT directs Re adjudication in Respect of Depreciation Claimed on Goodwill arising on Acquisition of Business under Slump Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Bangalore-Income-Tax-Goodwill-depreciation-I-and-B-Seeds-Private-Limited-Hybrid-seeds-business-taxscan.jpg "ITAT directs Re adjudication in Respect of Depreciation Claimed on Goodwill arising on Acquisition of Business under Slump Sale [Read Order]")
![ITAT Annual Digest [Part 65]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-ITAT-cases-2023-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Stories-ITAT-2023-taxscan.jpg "ITAT Annual Digest [Part 65]")
![No Corroborative Evidence to show Bogus Purchase: ITAT sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Corroborative-Evidence-Bogus-Purchase-ITAT-Income-Tax-Addition-taxscan.jpg "No Corroborative Evidence to show Bogus Purchase: ITAT sets aside Income Tax Addition [Read Order]")
![No Tax on Interest Accrued on FD subjected to CBI’s Prohibitory Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Tax-Interest-Accrued-FD-subjected-CBIs-Prohibitory-Order-ITAT-taxscan.jpg "No Tax on Interest Accrued on FD subjected to CBI’s Prohibitory Order: ITAT [Read Order]")
Production of Bank accounts extract Evidencing Payment of Purchase of Jewellery: ITAT Deletes Addition u/s 69B of Income Tax Act [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 69B of the Income Tax Act 1961 as the bank accounts extract evidencing payment of purchase of...
![Production of Bank accounts extract Evidencing Payment of Purchase of Jewellery: ITAT Deletes Addition u/s 69B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Production-Bank-accounts-extract-Evidencing-Payment-of-Purchase-Jewellery-ITAT-Deletes-Addition-Income-Tax-Act-taxscan-1.jpg "Production of Bank accounts extract Evidencing Payment of Purchase of Jewellery: ITAT Deletes Addition u/s 69B of Income Tax Act [Read Order]")
ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition under Section 56(2) (viib) of the Income Tax Act as the share premium received by the company was in excess of the...
![ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-upholds-Addition-income-Tax-Act-as-Share-Premium-Received-by-was-in-Excess-of-Fair-Market-Value-of-Share-TAXSCAN.jpg "ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]")
Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Compensation amount not having any relation with the cost towards the sale of area cannot be treated as capital expenditure under...
![Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Compensation-Amount-Unrelated-Sale-Cost-Treated-Capital-Expenditure-ITAT-taxscan.jpg "Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]")
Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesn't attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of gratuity after deduction of the actual gratuity charged to the profit in the profit/ loss account doesn’t...
![Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Provision-of-Gratuity-deduction-of-Actual-Gratuity-charged-to-Profit-in-P-L-Account-disallowance-ITAT-directs-AO-for-fresh-Consideration-TAXSCAN.jpg "Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]")
Failure of AO to Convert Limited Scrutiny into Complete Scrutiny: ITAT deletes Disallowance u/s 54 of Income Tax Act [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that no steps has been taken by the Assessing Officer (AO) to convert the limited scrutiny into complete scrutiny and hence has...
![Failure of AO to Convert Limited Scrutiny into Complete Scrutiny: ITAT deletes Disallowance u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-AO-Failure-of-AO-Scrutiny-Failure-of-AO-to-Convert-Limited-Scrutiny-into-Complete-Scrutiny-ITAT-taxscan-1.jpg "Failure of AO to Convert Limited Scrutiny into Complete Scrutiny: ITAT deletes Disallowance u/s 54 of Income Tax Act [Read Order]")
Concessional Rate u/s 115 not Applicable when Money Deposited in Indian Rupees and not in Foreign Exchange Currency: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the concessional rate under Section 115 of the Income Tax Act 1961 is not applicable when the money deposited is in Indian...
![Concessional Rate u/s 115 not Applicable when Money Deposited in Indian Rupees and not in Foreign Exchange Currency: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Concessional-Rate-Money-Deposited-in-Indian-Rupees-Foreign-Exchange-Currency-ITAT-TAXSCAN.jpg "Concessional Rate u/s 115 not Applicable when Money Deposited in Indian Rupees and not in Foreign Exchange Currency: ITAT [Read Order]")
Documentary Evidences validates Compensation Paid to Brokerages and Settlement of Disputes out of Sale Proceeds: ITAT upholds Deletion of Rs. 3.86 crores as Expenditure [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the documentary evidences validated the compensation paid to the brokerages and the settlement of disputes out of sales...
![Documentary Evidences validates Compensation Paid to Brokerages and Settlement of Disputes out of Sale Proceeds: ITAT upholds Deletion of Rs. 3.86 crores as Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Documentary-Evidences-Compensation-Paid-to-Brokerages-Compensation-Paid-to-Brokerages-and-Settlement-of-Disputes-out-of-Sale-Proceeds-ITAT-taxscan.jpg "Documentary Evidences validates Compensation Paid to Brokerages and Settlement of Disputes out of Sale Proceeds: ITAT upholds Deletion of Rs. 3.86 crores as Expenditure [Read Order]")