Accommodation Entries provided in form of bogus Purchases from Dummy Companies: ITAT upholds Addition u/s 69C of Income Tax Act
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition under Section 69C of the Income Tax Act, 1961, and held that the...
![Payment made by Assessee as Shareholder of Company for Construction of Building on a plot shall not be Unexplained Investment u/s. 69 of I.T Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-assessee-shareholder-company-for-construction-building-plot-unexplained-investment-I.T-Act-ITAT-TAXSCAN.jpeg "Payment made by Assessee as Shareholder of Company for Construction of Building on a plot shall not be Unexplained Investment u/s. 69 of I.T Act: ITAT [Read Order]")
![Failure to Furnish Purchaser Company Confirmation and Documentary Evidence on Conveyance Deed: ITAT upholds Addition on Capital Gain on Slump Sale of Sugar Unit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Furnish-Purchaser-Company-Confirmation-and-Documentary-Evidence-on-Conveyance-Deed-ITAT-upholds-Addition-on-Capital-Gain-on-Slump-Sale-of-Sugar-Unit-TAXSCAN-.jpg "Failure to Furnish Purchaser Company Confirmation and Documentary Evidence on Conveyance Deed: ITAT upholds Addition on Capital Gain on Slump Sale of Sugar Unit [Read Order]")
![Addition u/s 68 unjustified for the credit worthiness of a person having sufficient funds to lend money to others cannot be doubted: ITAT upholds order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-unjustified-for-the-credit-worthiness-of-a-person-having-sufficient-funds-to-lend-money-doubted-ITAT-upholds-order-of-CITA-TAXSCAN.jpg "Addition u/s 68 unjustified for the credit worthiness of a person having sufficient funds to lend money to others cannot be doubted: ITAT upholds order of CIT(A) [Read Order]")
![Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Tax-evasion-Colourable-Devices-Sham-Transaction-defraud-Department-ITAT-dismisses-assessee-appeal-taxscan.jpg "Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]")
No real Rental Income received from litigation filed for recovery of arrears of Rent: ITAT deletes addition made on account notional Rental Income [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench while deleting the addition made on account of notional Rental Income, observed that no real rental income received from litigation filed for...
![No real Rental Income received from litigation filed for recovery of arrears of Rent: ITAT deletes addition made on account notional Rental Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/real-Rental-Income-received-from-litigation-filed-Income-received-from-litigation-filed-real-Rental-Income-recovery-of-arrears-of-Rent-ITAT-deletes-addition-notional-Rental-Income-taxscan.jpg "No real Rental Income received from litigation filed for recovery of arrears of Rent: ITAT deletes addition made on account notional Rental Income [Read Order]")
Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that deduction under Section 80JJAA of the Income Tax Act requires examination of quantum as well as fulfillment of various condition as...
![Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-effective-Representation-Authorities-No-effective-Representation-before-lower-Authorities-ITAT-taxscan-1.jpg "Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]")
Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the interest income earned by a Non-resident of India from a foreign bank shall not be taxable in India under Section 5(2) of the...
![Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Interest-Income-Income-Interest-NRI-Foreign-Bank-Interest-Income-earned-by-a-NRI-from-a-Foreign-Bank-ITAT-taxscan.jpg "Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]")
No disallowance shall be made towards processed payment of employee's contribution to EPF within expiry of time limit: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that no disallowance should be made towards the process of payment of employee’s contribution to Employee Provident Fund (EPF) before expiry...
![No disallowance shall be made towards processed payment of employees contribution to EPF within expiry of time limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/disallowance-No-disallowance-payment-employees-contribution-ITAT-taxscan.jpg "No disallowance shall be made towards processed payment of employees contribution to EPF within expiry of time limit: ITAT [Read Order]")
Mere Assumption that Withdrawn Amount Spent for Other Purposes Without any Adverse Positive Material cannot be the Reason for Disputing Source of Cash Deposits: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that The Assessing Officer (AO) has ignored main cash book while disputing the source of cash and making addition and the Commissioner of...
![Mere Assumption that Withdrawn Amount Spent for Other Purposes Without any Adverse Positive Material cannot be the Reason for Disputing Source of Cash Deposits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/j.jpg "Mere Assumption that Withdrawn Amount Spent for Other Purposes Without any Adverse Positive Material cannot be the Reason for Disputing Source of Cash Deposits: ITAT [Read Order]")
Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that there was defect and discrepencies in the books of account and thus upheld the decision of Commissioner of Income Tax (Appeals)...
![Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Rejection-Books-of-Account-Rejection-of-Books-of-Account-Rejection-of-Books-of-Account-by-AO-AO-CITA-ITAT-taxscan.jpg "Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]")
Mere adoption of information from Officer of investigation wing of Income Tax Dept cannot be characterized as bonafide belief of AO in absence of cogent material: ITAT quashes order of CIT(A)
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) he that alleged information from other officer of the dept. has to be reckoned as abstract, ba and bare one and thus has no rational...
