![Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Sale-of-Stock-Sale-Stock-Agricultural-Land-Capital-Gain-Business-Receipt-ITAT-taxscan.jpg "Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]")
Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding that the sale of stock of agricultural land could be treated...
![Non-Cooperation of Tax Consultant in Furnishing Details of Investment in Property: ITAT orders Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Tax-Non-Cooperation-Tax-Consultant-Non-Cooperation-of-Tax-Consultant-ITAT-taxscan-1.jpg "Non-Cooperation of Tax Consultant in Furnishing Details of Investment in Property: ITAT orders Fresh Adjudication [Read Order]")
![Signature in Consent Waiver Form Proves that Trust has No Role in Opening of Overseas Bank Account: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Signature-Consent-Waiver-Form-Trust-Overseas-Bank-Account-Bank-Account-ITAT-AO-taxscan.jpg "Signature in Consent Waiver Form Proves that Trust has No Role in Opening of Overseas Bank Account: ITAT Restores Matter to AO [Read Order]")
![Order passed by AO in Absence of Proper Inquiry shall be liable to Revision u/s 263 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Order-AO-Proper-Inquiry-Order-passed-by-AO-in-Absence-of-Proper-Inquiry-Revision-taxscan.jpg "Order passed by AO in Absence of Proper Inquiry shall be liable to Revision u/s 263 of Income Tax Act: ITAT [Read Order]")
![AO Failed to Record Reason for Escape of Income due to Non-disclosure of Materials Facts by Assessee u/s 147 of Income Tax Act: ITAT Quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Income-AO-Failed-to-Record-Reason-for-Escape-of-Income-Non-disclosure-of-Materials-Facts-by-Assessee-taxscan.jpg "AO Failed to Record Reason for Escape of Income due to Non-disclosure of Materials Facts by Assessee u/s 147 of Income Tax Act: ITAT Quashes Re-Assessment [Read Order]")
Assessment Order for Addition on account of unexplained money u/s 69A of Income Tax Act not followed by mandate DIN is invalid: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that assessment order for addition under Section 69A of Income Tax Act,1961 as unexplained income, not followed by mandate document...
![Assessment Order for Addition on account of unexplained money u/s 69A of Income Tax Act not followed by mandate DIN is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Assessment-Order-account-unexplained-money-Income-Tax-Act-mandate-DIN-ITAT-TAXSCAN.jpeg "Assessment Order for Addition on account of unexplained money u/s 69A of Income Tax Act not followed by mandate DIN is invalid: ITAT [Read Order]")
Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]
The Indore Bench of Income Tax Appellate Tribunal (ITAT), held that instead of conducting any verification in compliance of the direction of the Tribunal, the Assessing Officer has made straight away...
![Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repetition-of-Addition-Addition-Income-Tax-Addition-Repetition-of-Addition-by-AO-AO-Non-Compliance-to-Order-Verification-ITAT-deletes-Addition-ITAT-taxscan.jpg "Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]")
Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal (ITAT) has reduced the disallowance as the quantum of disallowance made by the Assessing Officer (AO) was excessive and unreasonably high. In...
![Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Quantum-Quantum-of-Disallowance-Disallowance-AO-taxscan.jpg "Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]")
Expenses incurred in relation to exempt income not deductible under Section 14A of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that expenses incurred in relation to exempt income are not deductible under Section 14A of the Income Tax Act, 1961 (the Act)...
![Expenses incurred in relation to exempt income not deductible under Section 14A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Expenses-relation-exempt-income-deductible-Income-Tax-Act-ITAT-TAXSCAN.jpeg "Expenses incurred in relation to exempt income not deductible under Section 14A of Income Tax Act: ITAT [Read Order]")
ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has allowed only 10% of the cash deposits made by an assessee as taxable income, citing a lack of evidence of the source of the deposits...
![ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Cash-Deposits-Taxable-Income-Absence-Evidence-Source-IT-Act-TAXSCAN.jpg "ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]")
![AO refused to Consider Bank Statement and DMAT account of Assesee: Delhi HC Sets aside Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Bank-Statement-DMAT-account-Assesee-Delhi-highcourt-Reassessment-taxscan.jpg "AO refused to Consider Bank Statement and DMAT account of Assesee: Delhi HC Sets aside Reassessment Order [Read Order]")
Time Limit u/s 153 of Income Tax Act Prevails over Assessment Time Limit u/s 144C of Income Tax Act: Bombay HC
In a major decision the Bombay High Court observed that the time limit under Section 153 of the Income Tax Act, 1961 prevails over assessment time limit prescribed under Section 144C of the Income...
