![Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-kolkata-share-companies-ITAT-deletes-unexplained-shares-share-application-money-income-tax-act-taxscan.jpg "Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]")
Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of unexplained share application money under the Income Tax Act,...
![Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-taxscan-1.jpg "Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
![Failure to Produce Sufficient Documents: Kerala HC dismisses Writ filed against appealable Income Tax Orders u/s 271AAC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Kerala-High-Court-Income-Tax-Income-Tax-Penalty-Income-Tax-Demand-Writ-Appeal-TAXSCAN.jpg "Failure to Produce Sufficient Documents: Kerala HC dismisses Writ filed against appealable Income Tax Orders u/s 271AAC [Read Order]")
![Discrepancy in Form 26AS and Profit & Loss Account due to Service Tax Amount Declaration: ITAT upholds Deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Discrepancy-Form-26AS-Profit-Loss-Service-Tax-Amount-Declaration-ITAT-Deletion-Deletion-of-Addition-taxscan.jpg "Discrepancy in Form 26AS and Profit & Loss Account due to Service Tax Amount Declaration: ITAT upholds Deletion of Addition [Read Order]")
Mere making of Incorrect Claim does not Tantamount to furnishing of inaccurate particular: ITAT deletes Penalty u/s 27(1)(c) of Income Tax Act [Read Order]
In a recent decision the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the mere making of an incorrect claim does not tantamount to furnishing of inaccurate particular,...
![Mere making of Incorrect Claim does not Tantamount to furnishing of inaccurate particular: ITAT deletes Penalty u/s 27(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Mumbai-ITAT-Income-Tax-Act-Income-Tax-ITAT-Ruling-on-Income-Tax-Penalty-Taxscan.jpg "Mere making of Incorrect Claim does not Tantamount to furnishing of inaccurate particular: ITAT deletes Penalty u/s 27(1)(c) of Income Tax Act [Read Order]")
Incorrect adding of additional Depreciation to Computation of Book Profit: ITAT directs AO to delete addition u/s 115JB of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to delete the addition under Section 115JB of the Income Tax Act, 1961, citing incorrect inclusion...
![Incorrect adding of additional Depreciation to Computation of Book Profit: ITAT directs AO to delete addition u/s 115JB of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Mumbai-ITAT-Income-Tax-Act-Income-Tax-Section-115JB-of-Income-Tax-Act-ITAT-Additional-Depreciation-Ruling-Taxscan.jpg "Incorrect adding of additional Depreciation to Computation of Book Profit: ITAT directs AO to delete addition u/s 115JB of Income Tax Act [Read Order]")
Transaction done through Bombay Stock Exchange on STT cannot be considered as Sham or Bogus Transaction: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Transaction done through Bombay stock exchange on Securities Transaction Tax ( STT ) cannot be considered as sham or bogus...
![Transaction done through Bombay Stock Exchange on STT cannot be considered as Sham or Bogus Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-Delhi-Bombay-Stock-Exchange-Securities-Transaction-Tax-Sham-transaction-taxscan.jpg "Transaction done through Bombay Stock Exchange on STT cannot be considered as Sham or Bogus Transaction: ITAT [Read Order]")
Legal fiction created u/s 2 (22) (e) of Income Tax Act not to be extended further for broadening concept of shareholders: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that legal fiction created under Section 2 (22)(e) of Income Tax Act, 1961, not to be extended further for broadening concept of...
![Legal fiction created u/s 2 (22) (e) of Income Tax Act not to be extended further for broadening concept of shareholders: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Delhi-Income-tax-tax-news-taxscan.jpg "Legal fiction created u/s 2 (22) (e) of Income Tax Act not to be extended further for broadening concept of shareholders: ITAT [Read Order]")
Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench, while upholding the revision order passed under section 263 of the Income Tax Act, 1961, held that the Assessing Officer failed to conduct...
![Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Demonetization-Period-ITAT-abnormal-cash-income-tax-news-taxscan.jpg "Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]")
AO’s failure to conduct Independent Enquiry in respect of deposit in bank account for issuance of Demand Draft in favour of Indian Oil Corporation: ITAT deletes addition
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, while deleting the addition made by the Assessing Officer (AO), held that the AO failed to conduct an independent inquiry in respect of the...
ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has disallowed the indexed cost of acquisition and improvement on failure to produce conveyance deed. The assessee, Padmanabhan Mohan, was...
![ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-cost-of-Acquisition-cost-of-Acquisition-and-improvement-on-Failure-taxscan.jpg "ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]")