![ITAT deletes Penalty Imposed u/s 271AAB of Income Tax Act on account of Cash received by Minor Grandson on Birthday during Search Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-deletes-Penalty-Imposed-Income-Tax-Act-on-account-of-Cash-received-by-Minor-Grandson-On-Birthday-during-Search-Proceedings-TAXSCAN.jpg "ITAT deletes Penalty Imposed u/s 271AAB of Income Tax Act on account of Cash received by Minor Grandson on Birthday during Search Proceedings [Read Order]")
ITAT deletes Penalty Imposed u/s 271AAB of Income Tax Act on account of Cash received by Minor Grandson on Birthday during Search Proceedings [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench deleted the penalty imposed under Section 271AAB of Income Tax Act, 1961 on account of cash...
![ITAT upholds Allowance of Deduction u/s 10AA of Income Tax Act on ground of Proper e-filing of Form 56F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/deduction-claim-allow-filing-electronic-filing-form-56F-income-tax-upheld-ITAT-taxscan.jpg "ITAT upholds Allowance of Deduction u/s 10AA of Income Tax Act on ground of Proper e-filing of Form 56F [Read Order]")
![Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-received-from-letting-out-of-Property-on-a-Commercial-basis-qualifies-as-Business-Income-ITAT-TAXSCAN.jpg "Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]")
![Incriminating Books of Account is Not Necessary to Initiate Search Proceeding u/s 153C of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Incriminating-Books-of-account-Initiate-Search-Proceeding-Income-Tax-Act-ITAT-taxscan.jpg "Incriminating Books of Account is Not Necessary to Initiate Search Proceeding u/s 153C of Income Tax Act: ITAT [Read Order]")
![Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Onus-Prove-Genuiness-Transaction-Sale-Share-Bogus-Documentary-Evidence-ITAT-Income-tax-taxscan.jpg "Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]")
Claim of Deduction u/s 54F of Income Tax Act rejected due to late filing of revised ROI: ITAT Directs Re-adjudication [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication to the assessing officer for the rejection of the claim of deduction under section 54F of the Income Tax Act,1961...
![Claim of Deduction u/s 54F of Income Tax Act rejected due to late filing of revised ROI: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Deduction-Income-Tax-Act-rejected-due-late-filing-revised-ROI-ITAT-Directs-Re-adjudication.jpg "Claim of Deduction u/s 54F of Income Tax Act rejected due to late filing of revised ROI: ITAT Directs Re-adjudication [Read Order]")
![Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Oil-Wells-Eligible-Depreciation-as-Plant-and-Machinery-ITAT-TAXSCAN.jpg "Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]")
Absence of Unabsorbed Depreciation in Earlier Years doesn’t bar Set off of Unabsorbed Depreciation against Income from Other Sources: ITAT
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, held that the absence of unabsorbed depreciation in earlier years does not bar set off of unabsorbed brought forward depreciation against...
No Addition can be made on Compensation received from Government on Account of Acquisition of Land: ITAT[Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) recently held that no addition can be made on compensation received from the government on account of acquisition of land under...
![No Addition can be made on Compensation received from Government on Account of Acquisition of Land: ITAT[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/received-Government-Account-of-Acquisition-of-Land-ITAT-TAXSCAN.jpg "No Addition can be made on Compensation received from Government on Account of Acquisition of Land: ITAT[Read Order]")
On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has granted relief to the builder observing that the on-money received on sale of property at 50% booked price was on a “Palpably very...
![On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-of-Property-Booked-Price-ITAT-Builder-On-Money-Income-Tax-Tax-taxscan.jpg "On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]")
ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]
The Income Tax Appellate Tribunal (ITAT)deleted disallowance under section 40A(3) of the Income Tax Appellate Tribunal when assessee made payment in cash not directly to the seller. M/s.Piprani...
![ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-Payment-Cash-TAXSCAN.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]")
Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that income tax deduction is not allowable, as the expenses to musical programmes and Garbaevents are personal in nature. Dr...
![Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expenses-Musical-Programme-Garba-Event-Personal-in-Nature-Income-Tax-deduction-Income-Tax-deduction-ITAT-taxscan.jpg "Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT [Read Order]")