![Marriage Gifts / Cash received through Banking Channel cannot be treated as source for Cash Deposits: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Marriage-Gifts-Cash-received-through-Banking-Channel-Cash-Deposits-ITAT-Taxscan.jpg "Marriage Gifts / Cash received through Banking Channel cannot be treated as source for Cash Deposits: ITAT deletes Addition [Read Order]")
Marriage Gifts / Cash received through Banking Channel cannot be treated as source for Cash Deposits: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench while deleting the addition held that the marriage Gifts/Cash received through Banking...
![No TDS applicable on Surrogacy payments: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Surrogacy-payments-TDS-ITAT-taxscan.jpeg "No TDS applicable on Surrogacy payments: ITAT [Read Order]")
![Penalty proceedings u/s 271(1)(c) not sustainable if reason not specified: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Penalty-proceedings-ITAT-Taxscan.jpeg "Penalty proceedings u/s 271(1)(c) not sustainable if reason not specified: ITAT [Read Order]")
![Income Tax: ITAT quashes Sec.153C Assessment for want of Notice and Satisfaction Note [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/ITAT-Sec.153C-Assessment-Notice-Satisfaction-Note-Taxscan.jpg "Income Tax: ITAT quashes Sec.153C Assessment for want of Notice and Satisfaction Note [Read Order]")
![No Penalty based on Estimated Additions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Penalty-Estimated-Additions-ITAT-Taxscan.jpg "No Penalty based on Estimated Additions: ITAT [Read Order]")
Deduction u/s 80HHC Income Tax Act to be Computed after Reducing Deduction u/s 80IA from Profit: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal held that deduction allowed under Sec. 80-IA of Income Tax Act had to be reduced from the profits for computing deduction under Sec. 80HHC of...
![Deduction u/s 80HHC Income Tax Act to be Computed after Reducing Deduction u/s 80IA from Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Deduction-Income-Tax-Act-Deduction-Profit-ITAT-Taxscan.jpeg "Deduction u/s 80HHC Income Tax Act to be Computed after Reducing Deduction u/s 80IA from Profit: ITAT [Read Order]")
Refund of Advances made in preceding years can't be Deemed as Credit to attract Unexplained Cash Credit: ITAT [Read Order]
The Indore Bench of the Income Tax Appellate Tribunal (ITAT) held that the refund of amounts given as advance in the previous year is not credit and hence addition under Sec.68 of Income Tax Act with...
![Refund of Advances made in preceding years cant be Deemed as Credit to attract Unexplained Cash Credit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Refund-preceding-years-deemed-as-credit-S.68-IT-Act-ITAT-Taxscan.jpg "Refund of Advances made in preceding years cant be Deemed as Credit to attract Unexplained Cash Credit: ITAT [Read Order]")
Amount Received during Trading Transaction and Remaining Unclaimed to be Treated as Income of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal( ITAT ) held that any amount received during the trading transaction, remaining with the assessee for a long time unclaimed, changes character and shall be treated...
![Amount Received during Trading Transaction and Remaining Unclaimed to be Treated as Income of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Trading-Transaction-Income-of-Assessee-ITAT-Taxscan-opengraph.jpg "Amount Received during Trading Transaction and Remaining Unclaimed to be Treated as Income of Assessee: ITAT [Read Order]")
ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench directed the matter to AO to examine the afresh rate of gross profit declared on unaccounted turnover. The assessee, M/s Alokik Steels Pvt....
![ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-gross-profit-unaccounted-turnover-Taxscan.jpg "ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]")
Section 56(2)(viib) of the Income Tax Act does not apply to consideration received from Non Residents on account of issuance of Shares: ITAT
The Indore Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 56(2)(viib) of the Income Tax Act does not apply to consideration received from Non Residents on account of issuance...
![Income from Commercial Properties shall be treated as House Property Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Income-from-Commercial-Properties-House-Property-Income-ITAT-Taxscan.jpg "Income from Commercial Properties shall be treated as House Property Income: ITAT [Read Order]")