![Interest on Maturity of Govt Bonds cannot be Taxed in the Year of Accrual solely because TDS Deduction by Bank: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Interest-Govt-Bonds-TDS-Deduction-taxscan.jpg "Interest on Maturity of Govt Bonds cannot be Taxed in the Year of Accrual solely because TDS Deduction by Bank: ITAT [Read Order]")
Interest on Maturity of Govt Bonds cannot be Taxed in the Year of Accrual solely because TDS Deduction by Bank: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri Waseem Ahmed, Accountant Member and Shri Siddhartha Nautiyal,...
![No Penalty u/s 271 AAA(1) if Assessee offered Undisclosed Income in Statement Recorded u/s 132(4) and Ready to Pay Tax with Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Penalty-Assessee-Undisclosed-Income-Ready-to-Pay-Tax-Interest-ITAT-Taxscan.jpeg "No Penalty u/s 271 AAA(1) if Assessee offered Undisclosed Income in Statement Recorded u/s 132(4) and Ready to Pay Tax with Interest: ITAT [Read Order]")
![Contravention of Prohibition Order by Assessee with Assistance of Bank Officials: Patna HC upholds FIR against HDFC Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Prohibition-Order-Assessee-Bank-Officials-Patna-HC-FIR-HDFC-Bank-Taxscan.jpeg "Contravention of Prohibition Order by Assessee with Assistance of Bank Officials: Patna HC upholds FIR against HDFC Bank [Read Order]")
![Assessee’s Right to file Objection was Deprived Of: Calcutta HC quashes Income Tax Order u/s 148A(d) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Right-to-file-Calcutta-HC-Income-Tax-Order-Taxscan.jpeg "Assessee’s Right to file Objection was Deprived Of: Calcutta HC quashes Income Tax Order u/s 148A(d) [Read Order]")
![Assessee fails to Explain Drastic Decrease of Share Rate from Rs.5.6 cr to Rs.15 lakhs: ITAT holds Transaction as Bogus and upholds Disallowance of Short-Term Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Share-rate-ITAT-Transaction-Bogus-uphold-Disallowance-Short-Term-Capital-Loss-taxscan.jpg "Assessee fails to Explain Drastic Decrease of Share Rate from Rs.5.6 cr to Rs.15 lakhs: ITAT holds Transaction as Bogus and upholds Disallowance of Short-Term Capital Loss [Read Order]")
Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessee's Mother [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Suchitra Kamble, Judicial Member, and Waseem Ahmed, Accountant Member held that details in return of income which are not...
![Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessees Mother [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Gift-Mother-ITAT-Penalty-AO-Assessees-Mother-taxscan.jpg "Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessees Mother [Read Order]")
![Income Tax collected through Vivad Se Viswas Scheme, Penalty cannot Sustain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Vivad-Se-Viswas-Scheme-Penalty-ITAT-taxscan.jpg "Income Tax collected through Vivad Se Viswas Scheme, Penalty cannot Sustain: ITAT [Read Order]")
Affidavit filed by Assessee is vague and non-descript has no Evidentiary Value: ITAT upholds Addition of LTCG: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Delhi bench consisting of Saktijit Dey, Judicial Member and Pradip Kumar Kedia, Accountant Member upholds addition of Long Term Capital Gain (LTCG) on the ground...
![Affidavit filed by Assessee is vague and non-descript has no Evidentiary Value: ITAT upholds Addition of LTCG: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Affidavit-Assessee-Evidentiary-Value-ITAT-LTCG-ITAT-taxscan.jpeg "Affidavit filed by Assessee is vague and non-descript has no Evidentiary Value: ITAT upholds Addition of LTCG: ITAT [Read Order]")
Punjab & Haryana HC Upholds charging 3% on Total Turnover of Assessee providing Accommodation Entries to Dealers to Reduce Tax Liabilities [Read Order]
The division bench of Punjab and Haryana has upholds charging 3% on total turnover of assessee, who provides accommodation entries to dealers to reduce tax liabilities. The appellant, Anil Kumar,...
![Punjab & Haryana HC Upholds charging 3% on Total Turnover of Assessee providing Accommodation Entries to Dealers to Reduce Tax Liabilities [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Punjab-Haryana-HC-Assessee-Accommodation-Entries-Tax-Liabilities-Taxscan.jpeg "Punjab & Haryana HC Upholds charging 3% on Total Turnover of Assessee providing Accommodation Entries to Dealers to Reduce Tax Liabilities [Read Order]")
Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has allowed a depreciation claim under section 32 of the Income Tax Act, 1961 by observing that the purchase of 120 computers by the...
![Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Computers-Publishers-ITAT-Depreciation-taxscan-2.jpg "Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]")
GST Dept Sealed Premises for want of Documents from Assessee: Delhi HC Orders to De-Seal and Directs Assessee to Co-operate with Proceedings [Read Order]
The Delhi High Court has recently ordered the GST department to de-seal the business premises of the assessee. The department has sealed the premises of the petitioner, M/S Shakti Oil and Chemical...
![GST Dept Sealed Premises for want of Documents from Assessee: Delhi HC Orders to De-Seal and Directs Assessee to Co-operate with Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/GST-Dept-Assessee-Delhi-HC-Assessee-Taxscan.jpg "GST Dept Sealed Premises for want of Documents from Assessee: Delhi HC Orders to De-Seal and Directs Assessee to Co-operate with Proceedings [Read Order]")
Lower Authorities not properly Appreciated or Verified Documents adduced by Assessee: ITAT Restores matter to CIT(A) for Fresh Consideration [Read Order]
The Delhi bench of Income Tax Appellate Tribunal has held that lower authorities not properly appreciated or verified documents adduced by assessee and restores matter to CIT(A) for fresh...
![Lower Authorities not properly Appreciated or Verified Documents adduced by Assessee: ITAT Restores matter to CIT(A) for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Lower-Authorities-Verified-Documents-Assessee-ITAT-CITA-Fresh-Consideration-Taxscan.jpg "Lower Authorities not properly Appreciated or Verified Documents adduced by Assessee: ITAT Restores matter to CIT(A) for Fresh Consideration [Read Order]")