![Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-from-Other-Sources-Income-ITAT-Provisions-Income-which-are-Treated-as-Income-from-Other-Sources-Taxscan.jpg "Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]")
Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of Section 44AB of the Income Tax Act, 1961 is not...
![Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Failure-call-Mandate-DVO-report-Income-Tax-Act-ITAT-order-Discrediting-Valuation-Report-Assessee-Substantial-Reason-TAXSCAN.jpg "Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]")
![Cash Deposits from earlier withdrawals cannot be Totally Disbelieved: ITAT allows Deduction on Cash Deposit[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Cash-Deposits-earlier-withdrawals-Totally-Disbelieved-ITAT-Deduction-Cash-Deposit-TAXSCAN.jpg "Cash Deposits from earlier withdrawals cannot be Totally Disbelieved: ITAT allows Deduction on Cash Deposit[Read Order]")
![Assessing officer cannot make Second Assessment on Same Issue on Same Assessment Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessing-officer-cannot-make-Second-Assessment-on-Same-Issue-on-Same-Assessment-Year-ITAT-TAXSCAN.jpg "Assessing officer cannot make Second Assessment on Same Issue on Same Assessment Year: ITAT [Read Order]")
Penalty Imposed u/s 271(1)(c) of Income Tax Act on Ground of Concealment of Income in ROI: ITAT Deletes Penalty [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed by the assessing officer under section 271(1)(c) of the Income Tax Act,1961 on the ground of concealment of...
![Penalty Imposed u/s 271(1)(c) of Income Tax Act on Ground of Concealment of Income in ROI: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Income-Tax-Act-Income-Tax-Ground-of-Concealment-of-Income-in-ROI-Income-in-ROI-ROI-ITAT-Deletes-Penalty-ITAT-Penalty-Taxscan.jpg "Penalty Imposed u/s 271(1)(c) of Income Tax Act on Ground of Concealment of Income in ROI: ITAT Deletes Penalty [Read Order]")
Investment in ULIP Policy treated as “Capital Asset” u/s 2(14) of Income Tax Act, Accretion on Surrender of Policy Taxable under “Income from Capital Gains” & Not “Income from Other Sources”: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the investment in the Unit Linked Insurance Policy (ULIP) of Life Insurance Corporation of India (LIC) shall be treated as a...
Pre-clinical Laboratory Services Rendered by Non-resident to Customers in India would Not be Taxable in India: ITAT Quashes Assessment Order [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) quashed the assessment order passed by the assessing officer for calculating the tax amount for the pre-clinical laboratory services...
![Pre-clinical Laboratory Services Rendered by Non-resident to Customers in India would Not be Taxable in India: ITAT Quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Pre-clinical-Laboratory-Services-Rendered-Non-resident-Customers-India-Taxable-India-ITAT-Assessment-Order-TAXSCAN.jpg "Pre-clinical Laboratory Services Rendered by Non-resident to Customers in India would Not be Taxable in India: ITAT Quashes Assessment Order [Read Order]")
No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that no disallowance on a claim of capital loss is computed after the transfer of possession of the property. The assessee...
![No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-disallowance-on-claim-of-Capital-Loss-computed-after-Transfer-of-Possession-of-Property-disallowance-on-claim-of-Capital-Loss-disallowance-Capital-Loss-ITAT-deletes-Addition-ITAT-Taxscan.jpg "No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]")
Disallowance made by AO due to Non-Submission of Business Vouchers: ITAT Directs Re-adjudication [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication to the assessing officer for the disallowance made on the ground of the nonsubmission of business vouchers. ...
![Disallowance made by AO due to Non-Submission of Business Vouchers: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Disallowance-made-by-AO-due-to-Non-Submission-of-Business-Vouchers-Disallowance-made-by-AO-Disallowance-AO-Business-Vouchers-ITAT-ITAT-Directs-Re-adjudication-Taxscan.jpg "Disallowance made by AO due to Non-Submission of Business Vouchers: ITAT Directs Re-adjudication [Read Order]")
Additional Rectification Petition Filed u/s 84 of Tamil Nadu Value Added Tax Act: Madras HC Quashes Notice Issued to Discharge Tax Liability [Read Order]
The Madras High Court quashed a notice issued to discharge tax liability on filing of an additional rectification petition filed under Section 84 of Tamil Nadu Value Added Tax Act. The present...
![Additional Rectification Petition Filed u/s 84 of Tamil Nadu Value Added Tax Act: Madras HC Quashes Notice Issued to Discharge Tax Liability [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Rectification-Petition-Rectification-Petition-Tamil-Nadu-Value-Added-Tax-Act-Madras-High-Court-Quashes-Notice-Issued-to-Discharge-Tax-Liability-Madras-High-Court-Taxscan.jpg "Additional Rectification Petition Filed u/s 84 of Tamil Nadu Value Added Tax Act: Madras HC Quashes Notice Issued to Discharge Tax Liability [Read Order]")
Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer by treating the agriculture income as income from the undisclosed sources. ...
![Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/agricultural-income-agriculture-incometax-ITAT-TAXSCAN.jpg "Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]")