![Addition made on capital gain on revaluation of land to partners are not sustainable under law for Conversion of partnership firms can be considered only in the hands of the firms under Section 47(xiii)(b): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-capital-gain-revaluation-land-partners-law-Conversion-partnership-firms-hands-firms-ITAT-TAXSCAN.jpg "Addition made on capital gain on revaluation of land to partners are not sustainable under law for Conversion of partnership firms can be considered only in the hands of the firms under Section 47(xiii)(b): ITAT [Read Order]")
Addition made on capital gain on revaluation of land to partners are not sustainable under law for Conversion of partnership firms can be considered only in the hands of the firms under Section 47(xiii)(b): ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) he that capital gain on revaluation of land to partners are not sustainable under law...
![ITAT directs readjudication on grounds of CIT(E) failing to look into submissions made by assessee and denying registration u/s 12AB of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-readjudication-grounds-CITE-submissions-assessee-denying-registration-IT-Act-TAXCAN.jpg "ITAT directs readjudication on grounds of CIT(E) failing to look into submissions made by assessee and denying registration u/s 12AB of IT Act [Read Order]")
![Assessee cannot be Treated Differently when Cost of Improvement made by Co Worker has been Accepted U/S 143(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessee-Assessee-cannot-be-treated-differently-when-cost-of-improvement-ITAT-taxscan.jpeg "Assessee cannot be Treated Differently when Cost of Improvement made by Co Worker has been Accepted U/S 143(3): ITAT [Read Order]")
![Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gift-received-Unexplained-Cash-Credits-ITAT-Income-Tax-Act-TAXSCAN.jpg "Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]")
![Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Extending-Corporate-Guarantee-AE-Constitutes-International-Transaction-ITAT-TAXSCAN.jpg "Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]")
TDS not applicable to professional and consultancy services neither "availed" nor "rendered" and even not "utilised" in India: ITAT upholds deletion of disallowance u/s 40(a)(ia) of Income Tax Act
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of disallowance under Section 40(a)(ia) of Income Tax Act 1961 holding that Tax Deducted at Source (TDS) would not...
Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT), held that the claim for the compensation in the case of the co-owner was admitted by the revenue and therefore the revenue has taken...
![Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Compensation-for-Termination-of-Development-Agreement-Allowed-as-Deduction-to-One-Co-Owner-Denied-Co-owner-ITAT-TAXSCAN.jpg "Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]")
No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that no additions shall be made under Section 68 of the Income Tax Act, 1961 on unsecured loans if the assessee furnishes proper...
![No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Additions-No-Additions-Income-Tax-Act-Unsecured-Loans-ITAT-taxscan.jpg "No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]")
ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) restores the case to Commissioner of Income Tax (Exemption) [CIT (E)] and held that tax exemption under Section 12 AB of Income Tax Act,...
![ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Restores-Appeal-on-Condition-to-Furnish-Required-Set-of-Documents-to-Avail-Tax-Exemption-for-Trust-Income-Tax-TAXSCAN.jpg "ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]")
Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that the sale proceeds of shares credited in bank accounts entered in the book of accounts could not be treated as unexplained cash...
![Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Sale-proceeds-of-shares-credited-Bank-Account-entered-in-book-of-accounts-treated-as-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
Parallel Assessments shall be made in respect of same Income on Different Person: ITAT deletes Addition made on protective basis [Read Order]
The Ahmedabad Income Tax Appellate Tribunal (ITAT) ruled that parallel assessment should be made in respect of the same Income on different persons. Therefore, the bench deleted the addition made on...
![Parallel Assessments shall be made in respect of same Income on Different Person: ITAT deletes Addition made on protective basis [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Parallel-Assessments-Income-Different-ITAT-protective-basis-TAXSCAN.jpg "Parallel Assessments shall be made in respect of same Income on Different Person: ITAT deletes Addition made on protective basis [Read Order]")
ITAT Upholds Deletion of Addition made by CIT(A) on ground of Non Consideration of Previous Decision of Assessment [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of the addition made by the Commissioner of Income Tax (Appeals) on the ground of non consideration of the previous...
![ITAT Upholds Deletion of Addition made by CIT(A) on ground of Non Consideration of Previous Decision of Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Upholds-Deletion-of-Addition-made-by-CITA-on-ground-of-Non-Consideration-of-Previous-Decision-of-Assessment-TAXSCAN.jpg "ITAT Upholds Deletion of Addition made by CIT(A) on ground of Non Consideration of Previous Decision of Assessment [Read Order]")