Filing ITR for Extra Income: A Guide for Moonlighters
In the rapidly changing economic landscape of today, many people now consider the pursuit of extra income to be a vital part of their financial plan....
![Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Unsold-flats-Stock-in-Trade-should-be-assessed-as-Business-Income-Income-House-Property-ITAT-Revision-Order-TAXSCAN.jpg "Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]")
![Booking fee received from Non-Resident Airlines is Business Income:Â ITAT Grants Relief to Amadeus IT Group [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Booking-fee-received-from-Non-Resident-Airlines-Booking-fee-Booking-fee-received-Business-Income-ITAT-Grants-Relief-to-Amadeus-IT-Group-taxscan.jpg "Booking fee received from Non-Resident Airlines is Business Income:Â ITAT Grants Relief to Amadeus IT Group [Read Order]")
ITAT directs AO to set off Business Income with carry forward Business Loss on grounds of Assessee's Return becoming valid u/s 139(1) after defect was removed from Original Return
The Kolkata bench if the Income Tax Appellate Tribunal (ITAT) held that when original return filed is defective and the defect is removed under Section 139(9) of the Income Tax Act, the return filed...
Income from Nursery Activities of growing various types of Lawns, Flower Plants and Vegetable Plants is Agricultural Income, not Business Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that income from engaging in nursery activities of growing various types of lawns, flower plants and vegetables plants is agricultural...
![Income from Nursery Activities of growing various types of Lawns, Flower Plants and Vegetable Plants is Agricultural Income, not Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-from-Nursery-Activities-of-growing-various-types-of-Lawns-Flower-Plants-and-Vegetable-Plants-is-Agricultural-Income-Business-Income-ITAT-TAXSCAN.jpg "Income from Nursery Activities of growing various types of Lawns, Flower Plants and Vegetable Plants is Agricultural Income, not Business Income: ITAT [Read Order]")
Additional Income under excess stocks treated as 'business income' does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that the Commissioner of Income Tax (Appeals) [CIT(A)] was not justified in confirming the order of Assessing Officer (AO) in excluding the...
![Additional Income under excess stocks treated as business income does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-Income-under-excess-stocks-treated-business-income-Income-Tax-Act-ITAT-TAXSCAN.jpg "Additional Income under excess stocks treated as business income does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]")
Facility Management Services Income Taxable as "Business Income", Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal Held that Commissioner of Income Tax (Appeals) [CIT (A)] defaulted in recharacterizing the rental income as business income and arbitrarily...
![Facility Management Services Income Taxable as Business Income, Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Facility-Management-Services-Income-Business-Income-Statutory-Deductions-ITAT-directs-Re-Determination-of-Income-Deductions-Re-Determination-of-Income-taxscan.jpg "Facility Management Services Income Taxable as Business Income, Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]")
Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income was Ploughed back into Business to Acquire further Stock: ITAT deletes Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal held that undisclosed business income was ploughed back into business to acquire further stock. In such a case, the excess stock could be said...
![Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income was Ploughed back into Business to Acquire further Stock: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Excess-stock-arisen-normal-business-income-business-stock-ITAT-TAXSCAN.jpg "Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income was Ploughed back into Business to Acquire further Stock: ITAT deletes Addition [Read Order]")
Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) set aside the order of Principal Commissioner of Income-Tax (PCIT) and allowed tax deduction under Section 54 of Income Tax Act for income...
![Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-sale-land-assessable-Capital-gains-business-Income-ITAT-deduction-income-Tax-Act-TAXSCAN.jpg "Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]")