![Notice issued u/s 143(2) to be served upon the assessee within six months: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/assessee-notice-ITAT-Taxscan.jpg "Notice issued u/s 143(2) to be served upon the assessee within six months: ITAT [Read Order]")
Notice issued u/s 143(2) to be served upon the assessee within six months: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the notice issued under section 143(2) of the Income tax Act to be served upon the...
![Additions based on estimate basis cannot be sustained in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/sustained-in-Law-ITAT-Taxsan.jpg "Additions based on estimate basis cannot be sustained in Law: ITAT [Read Order]")
![ITAT deletes the Addition of Rs.1.58 Cr paid as Sub-Brokerage or Commission [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-sub-brokerage-or-Commission-taxscan.jpeg "ITAT deletes the Addition of Rs.1.58 Cr paid as Sub-Brokerage or Commission [Read Order]")
![Addition for Unexplained Cash Deposits justified if mismatch in ITR: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/unexplained-cash-deposits-ITR-ITAT-Taxscan.jpg "Addition for Unexplained Cash Deposits justified if mismatch in ITR: ITAT [Read Order]")
![ITAT deletes addition on account of unexplained loan against Society for Institute for Professional Studies Ghaziabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-account-of-unexplained-loan-Institute-for-Professional-Studies-Ghaziabad-Taxscan.jpg "ITAT deletes addition on account of unexplained loan against Society for Institute for Professional Studies Ghaziabad [Read Order]")
Share Application Money received from Bogus Shareholders cannot be regarded as Undisclosed Income; maybe reopened as Individual Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench has reiterated the precedence that Revenue cannot make addition under section 68 without making a thorough probe if the assessee has given...
![Share Application Money received from Bogus Shareholders cannot be regarded as Undisclosed Income; maybe reopened as Individual Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Share-application-money-bogus-shareholders-undisclosed-income-individual-assessment-Taxscan.jpg "Share Application Money received from Bogus Shareholders cannot be regarded as Undisclosed Income; maybe reopened as Individual Assessment: ITAT [Read Order]")
![If Money Lending is a part of the Business, No Addition could be made: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/money-lending-business-ITAT-Taxscan.jpeg "If Money Lending is a part of the Business, No Addition could be made: ITAT [Read Order]")
ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed the AO to decide the issue of disallowance of commission expenses based on documentary evidence. The assessee, Kunwar Tuli was...
![ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-AO-disallowance-of-commission-expenses-documentary-evidence-Taxscan.jpg "ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]")
ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]
The Income Tax Appellate Tribunal (ITAT) deleted the addition confirmed by the Lower Authorities without pointing any defect in the bank transfer and bank statement of the moneylender. The...
![ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/bank-transfer-1.jpg "ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]")
Reduction in Price of Stock-in-Trade can be allowed while Computing Business Income only in Trading Account: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) held that a reduction in the price of the stock-in-trade can be allowed while computing business income only in trading accounts. But, if such a provision is...
![Reduction in Price of Stock-in-Trade can be allowed while Computing Business Income only in Trading Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Stock-in-Trade.jpg "Reduction in Price of Stock-in-Trade can be allowed while Computing Business Income only in Trading Account: ITAT [Read Order]")
Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) in the case of DCIT v Kushal Infra project Industries allowed exemption on agricultural lands bought without an intention to purchase the land...
![Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Agricultural-Lands-Exemptions-Business-Purpose-Taxscan.jpg "Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]")