Amount received from Indian Hotels for Services under terms of agreements is Business Income: Delhi HC dismisses Income Tax Appeal pending SC decision [Read Order]
The Delhi High Court dismissed income tax appeal pending the Supreme Court (SC) decision in the ruling of the Delhi High Court that the amount...
![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]")
![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]")
ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has allowed only 10% of the cash deposits made by an assessee as taxable income, citing a lack of evidence of the source of the deposits...
![ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Cash-Deposits-Taxable-Income-Absence-Evidence-Source-IT-Act-TAXSCAN.jpg "ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]")
Excess Stock and Excess Cash found during Survey Proceedings are recorded in Books of Account: ITAT Upholds surrendered income as Business Income [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench while upholding the business income which surrendered after the survey proceeding and observed that excess stock and excess cash found during...
![Excess Stock and Excess Cash found during Survey Proceedings are recorded in Books of Account: ITAT Upholds surrendered income as Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Excess-Stock-Excess-Cash-found-during-Survey-Proceedings-are-recorded-in-Books-of-Account-ITAT-Upholds-surrendered-income-as-Business-Income-.jpg "Excess Stock and Excess Cash found during Survey Proceedings are recorded in Books of Account: ITAT Upholds surrendered income as Business Income [Read Order]")