![ITAT Upholds Tax on Unsold Inventory as Income from House Property, Directs Recalculation of ALV Based on Market Rates [Read Order]](https://images.taxscan.in/h-upload/2025/06/23/500x300_2053072-itat-itat-mumbai-income-from-house-property-business-assets-taxscan.webp "ITAT Upholds Tax on Unsold Inventory as Income from House Property, Directs Recalculation of ALV Based on Market Rates [Read Order]")
ITAT Upholds Tax on Unsold Inventory as 'Income from House Property,' Directs Recalculation of ALV Based on Market Rates [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the taxability of unsold flats held as stock-in-trade under the head ...
![ITAT Directs Fresh Assessment in Petrol Pump Case, Cites Denial of Natural Justice Over Electronic Notices [Read Order]](https://images.taxscan.in/h-upload/2025/06/23/250x150_2053053-petroleum-companies-dealer-tax-petroleum-companies-tax-petroleum-dealer-tax-gst-on-petroleum-dealer-petroleum-dealer-gst-taxscan.webp "ITAT Directs Fresh Assessment in Petrol Pump Case, Cites Denial of Natural Justice Over Electronic Notices [Read Order]")
![Relief to Mahindra & Mahindra Ltd, AO Has No Jurisdiction to Alter Net Profit in P & L Account Except Under S. 115J of Income Tax Act: Bombay HC [Read Order]](https://images.taxscan.in/h-upload/2025/06/20/250x150_2050839-mba-vacancy-at-mahindra-mba-vacancy-mahindra-taxscan-1.webp "Relief to Mahindra & Mahindra Ltd, AO Has No Jurisdiction to Alter Net Profit in P & L Account Except Under S. 115J of Income Tax Act: Bombay HC [Read Order]")
![Cash on Hand in Real Estate Business Not Unusual, Cannot Be Taxed Solely for Demonetization Deposits: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/18/250x150_2050082-real-estate-business.webp "Cash on Hand in Real Estate Business Not Unusual, Cannot Be Taxed Solely for Demonetization Deposits: ITAT [Read Order]")
Loan Not Utilised for Business Purposes: ITAT upholds PCIT's Decision Directing AO to Verify Exemption u/s 14A [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of the Principal Commissioner of Income Tax (PCIT) and confirmed that the deduction claimed for interest paid on a...
![Loan Not Utilised for Business Purposes: ITAT upholds PCITs Decision Directing AO to Verify Exemption u/s 14A [Read Order]](https://images.taxscan.in/h-upload/2025/06/18/500x300_2050053-itat-kolkata-income-tax-act-tax-news-increases-in-short-term-loans-taxscan.webp "Loan Not Utilised for Business Purposes: ITAT upholds PCITs Decision Directing AO to Verify Exemption u/s 14A [Read Order]")
![ITAT Denies Section 54F Exemption for Property Purchased in Mothers Name [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050580-itat-itat-roundup-weeklyrounup-taxscan-5.webp "ITAT Denies Section 54F Exemption for Property Purchased in Mothers Name [Read Order]")
Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the waiver of deferred sales tax liability, prepaid at Net Present Value (NPV), constitutes taxable business income under...
![Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050475-business-income-itat-taxscan.webp "Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]")
Capital Gains Exemption u/s 54F Allowable for Purchase of Residential Property Using Sale Proceeds of Land, as Construction Agreement Was Signed Prior to Sale: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that capital gains exemption under Section 54F of the Income-tax Act, 1961 is allowable when the assessee invests sale proceeds...
![Capital Gains Exemption u/s 54F Allowable for Purchase of Residential Property Using Sale Proceeds of Land, as Construction Agreement Was Signed Prior to Sale: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050452-exemption-site-img.webp "Capital Gains Exemption u/s 54F Allowable for Purchase of Residential Property Using Sale Proceeds of Land, as Construction Agreement Was Signed Prior to Sale: ITAT [Read Order]")
Income from Live Sports Licensing Not Taxable as Royalty Due to Lack of Copyright Protection: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that income earned from licensing live sports broadcasts is not taxable as royalty because live broadcasts do not enjoy copyright...
![Income from Live Sports Licensing Not Taxable as Royalty Due to Lack of Copyright Protection: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050466-live-sports-licensing-site-img.webp "Income from Live Sports Licensing Not Taxable as Royalty Due to Lack of Copyright Protection: ITAT [Read Order]")
ITAT Rules 10% Recorded, 90% Live Revenue Split Fair for Sports Broadcast Licensing Income [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) partly allowed an appeal concerning the apportionment of sports broadcast licensing income, where the Assessing Officer (AO) treated the...
![ITAT Rules 10% Recorded, 90% Live Revenue Split Fair for Sports Broadcast Licensing Income [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050462-sports-broadcast.webp "ITAT Rules 10% Recorded, 90% Live Revenue Split Fair for Sports Broadcast Licensing Income [Read Order]")
Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that only 3 out of 26 gold purchase transactions by Shah Traders were bogus and directed the Assessing Officer (AO) to recompute the...
![Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]](https://images.taxscan.in/h-upload/2025/06/18/500x300_2050015-gold-transactions-bogus-taxscan.webp "Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]")