![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]")
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...
![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]](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]](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]](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]")
Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the proceeds received on the sale of carbon credit is a capital receipts and not business income. The assessee is a company...
![Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Carbon-credit-Business-income-Proceeds-received-on-Sale-of-Carbon-Credit-income-tax-act-taxscan.jpg "Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]")
Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the income received from letting out of the property on a commercial basis qualifies as business income. The assessee...
![Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-received-from-letting-out-of-Property-on-a-Commercial-basis-qualifies-as-Business-Income-ITAT-TAXSCAN.jpg "Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]")
Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the rejection of a claim of loss against the surrendered business income as...
![Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Loss-Business-Income-Rejected-Unexplained-Income-ITAT-Re-adjudication-TAXSCAN.jpg "Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]")
![Maintenance Income from Building Let out Treats as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Maintenance-Income-from-Building-Let-out-Maintenance-Income-Building-Let-out-Business-Income-ITAT-taxscan.jpg "Maintenance Income from Building Let out Treats as Business Income: ITAT [Read Order]")
Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the proceeds from licence of Build-Operate-Transfer (BOT) Projects are taxable as business income and not rental...
![Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Proceeds-from-Licence-of-BOT-Projects-Proceeds-Licence-of-BOT-Projects-Licence-BOT-Projects-Business-Income-Rental-Income-ITAT-taxscan.jpg "Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]")
