![Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-chennai-Investment-in-Stock-Stock-Valuation-Difference-ITAT-ruling-on-Stock-Valuation-Difference-Unexplained-Investment-in-Stock-Valuation-taxscan.jpg "Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]")
Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of unexplained investments based on the stock valuation...
![Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes addition made u/s 68 of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Capital-Gain-Failure-to-prove-Existence-of-Firm-and-its-Succession-with-Company-ITAT-TAXSCAN.jpg "Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes addition made u/s 68 of IT Act [Read Order]")
![ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-cash-and-Gold-Bars-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]")
![No Income Tax Addition upon Employee who acts on behalf of Directors of Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Income-Tax-Appellate-Tribunal-Income-Tax-Addition-TAXSCAN.jpg "No Income Tax Addition upon Employee who acts on behalf of Directors of Company: ITAT [Read Order]")
No addition shall be made u/s 68 of Income tax act on basis of statement of third party with respect to Sale of Shares carried through proper Banking Channel: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench ruled that no addition should be made under Section 68 of the income Tax Act , 1961 on the basis of statement of third party with...
![No addition shall be made u/s 68 of Income tax act on basis of statement of third party with respect to Sale of Shares carried through proper Banking Channel: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ITAT-Mumbai-Income-tax-Shares-Banking-channels-Sale-of-shares-TAXSCAN.jpg "No addition shall be made u/s 68 of Income tax act on basis of statement of third party with respect to Sale of Shares carried through proper Banking Channel: ITAT [Read Order]")
![Punitive damages not allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Punitive-damages-Expenditure-ITAT-Punitive-damages-not-allowable-as-Expenditure-taxscan-1.jpg "Punitive damages not allowable as Expenditure: ITAT [Read Order]")
Inadequate enquiry u/S 263 of Income Tax Act is not sustainable: Delhi HC dismisses appeal [Read Order]
The Delhi High Court dismissed an appeal, asserting that an insufficient inquiry under Section 263 of the Income Tax Act 1961 was not sustainable. The Principal Commissioner of Income Tax ( PCIT )...
![Inadequate enquiry u/S 263 of Income Tax Act is not sustainable: Delhi HC dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/delhi-high-court-delhi-hc-Delhi-HC-ruling-on-inadequate-enquiry-Income-Tax-Act-income-tax-Sustainable-appeal-dismissal-by-Delhi-HC-taxscan.jpeg "Inadequate enquiry u/S 263 of Income Tax Act is not sustainable: Delhi HC dismisses appeal [Read Order]")
Failure to produce documentary evidence for establish genuineness of Hotel Business Income: ITAT upholds addition u/s 68 of IT Act [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench, while upholding the addition made under section 68 of the Income Tax Act, 1961, observed that the assessee failed to produce documentary...
![Failure to produce documentary evidence for establish genuineness of Hotel Business Income: ITAT upholds addition u/s 68 of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ITAT-mumbai-Hotel-business-IT-Act-ITAT-on-Hotel-Business-Documentary-evidence-TAXSCAN.jpg "Failure to produce documentary evidence for establish genuineness of Hotel Business Income: ITAT upholds addition u/s 68 of IT Act [Read Order]")
Failure to produce documents of loan transaction and purchase and pledge of shares: ITAT directs re adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench directed readjudication due to the failure to produce documents concerning the loan transaction and the purchase and pledge of shares. The...
![Failure to produce documents of loan transaction and purchase and pledge of shares: ITAT directs re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-mumbai-ITAT-directs-readjudication-loan-transaction-TAXSCAN.jpg "Failure to produce documents of loan transaction and purchase and pledge of shares: ITAT directs re adjudication [Read Order]")
ITAT directs readjudication on interest in respect of loans which have become Non-Performing Assets [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Bangalore bench directed readjudication on interest in respect of loans which have become Non Performing Assets. The assessee, Belur Urban Co-operative...
![ITAT directs readjudication on interest in respect of loans which have become Non-Performing Assets [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ITAT-Bangalore-Non-performing-assets-ITAT-directs-readjudication-on-interest-Interest-Loans-TAXSCAN.jpg "ITAT directs readjudication on interest in respect of loans which have become Non-Performing Assets [Read Order]")
ITAT Quashes reassessment proceedings framed on information received from DDIT due to Non Application of mind by AO [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench quashed reassessment proceedings framed on information received from the DDIT due to non application of mind by the assessing officer. The...
![ITAT Quashes reassessment proceedings framed on information received from DDIT due to Non Application of mind by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-mumbai-ddit-reassessment-proceedings-quashed-reassessment-proceedings-non-Application-of-mind-by-Assessing-officer-taxscan.jpg "ITAT Quashes reassessment proceedings framed on information received from DDIT due to Non Application of mind by AO [Read Order]")