![Addition as Unexplained Investment in difference in Value on Purchase of Property without considering Co-owner is not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/investment-purchase-of-property-co-owner-ITAT-taxscan-1.jpg "Addition as Unexplained Investment in difference in Value on Purchase of Property without considering Co-owner is not valid: ITAT [Read Order]")
Addition as Unexplained Investment in difference in Value on Purchase of Property without considering Co-owner is not valid: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) ruled that the addition as unexplained investment in difference in value on the...
![Amount paid by Purchaser of Property to Tenant can’t be taxed in the Capital Asset of Owner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/purchaser-of-property-capital-asset-ITAT-taxscan.jpg "Amount paid by Purchaser of Property to Tenant can’t be taxed in the Capital Asset of Owner: ITAT [Read Order]")
![Income Tax on Rental Income on Notional Basis not Applicable If Assessee could not find a Tenant for Relevant AY: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-Tax-Rental-Income-Tenant-ITAT-taxscan.jpeg "Income Tax on Rental Income on Notional Basis not Applicable If Assessee could not find a Tenant for Relevant AY: ITAT [Read Order]")
![Annual Value of Property let out or vacant whole or part of previous year should be computed as per Sec 23(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Annual-Value-o-property-vacant-previous-year-ITAT-taxscan.jpeg "Annual Value of Property let out or vacant whole or part of previous year should be computed as per Sec 23(1)(c): ITAT [Read Order]")
![Defense of Ignorance of Law cannot be taken after Hiring a Chartered Accountant: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Ignorance-of-Law-Chartered-Accountant-ITAT.jpg "Defense of Ignorance of Law cannot be taken after Hiring a Chartered Accountant: ITAT [Read Order]")
ITAT upholds Addition for Unexplained Cash Credit due to Failure to prove Genuineness of Transaction using Demonetized Currencies [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition for unexplained cash credit due to failure to prove the genuineness of transaction using demonetized currencies ...
![ITAT upholds Addition for Unexplained Cash Credit due to Failure to prove Genuineness of Transaction using Demonetized Currencies [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Unexplained-Cash-Credit-Transaction-Demonetized-Currencies-taxscan.jpg "ITAT upholds Addition for Unexplained Cash Credit due to Failure to prove Genuineness of Transaction using Demonetized Currencies [Read Order]")
Cash paid for Purchase excess than prescribed limit, Disallowance of total purchase U/s 40A(3) sustain: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the disallowance of total purchase under section 40 A(3) will sustain when cash is paid for purchases over the prescribed limit and...
![Cash paid for Purchase excess than prescribed limit, Disallowance of total purchase U/s 40A(3) sustain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Cash-purchase-ITAT-taxscan.jpg "Cash paid for Purchase excess than prescribed limit, Disallowance of total purchase U/s 40A(3) sustain: ITAT [Read Order]")
Deemed Dividend u/s 2(22)(e) applicable only to Persons who are recipient of Loan and Shareholder of the Payer Company: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that deemed dividend under section 2(22)(e) applies only to persons who are recipients of loan and shareholders of the Payer Company. ...
![Deemed Dividend u/s 2(22)(e) applicable only to Persons who are recipient of Loan and Shareholder of the Payer Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Deemed-Dividend-Persons-Loan-Shareholder-Payer-Company-ITAT-taxscan.jpg "Deemed Dividend u/s 2(22)(e) applicable only to Persons who are recipient of Loan and Shareholder of the Payer Company: ITAT [Read Order]")
![Redemption Fee can’t be imposed for ADD Escaped Assessment: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Redemption-Fee-ADD-Escaped-Assessment-CESTAT-Taxscan.jpg "Redemption Fee can’t be imposed for ADD Escaped Assessment: CESTAT [Read Order]")
SSI Benefit cannot be denied since Manufacturer has Right to Use Brand Name of Another and Cleared Goods: CESTAT [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai bench has held that the SSI Benefit cannot be denied to a manufacturer for clearing the goods using another brand name by...
![SSI Benefit cannot be denied since Manufacturer has Right to Use Brand Name of Another and Cleared Goods: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/SSI-Benefit-Manufacturer-Brand-Name-Another-Cleared-Goods-CESTAT-Taxscan.jpg "SSI Benefit cannot be denied since Manufacturer has Right to Use Brand Name of Another and Cleared Goods: CESTAT [Read Order]")
CESTAT sets aside Penalty on Customs Broker as revenue failed to establish Goods mentioned in Shipping Bills didn’t reflect truth of Consignment sought to be Exported [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Bench has quashed the penalty on Customs Broker as revenue failed to establish goods mentioned in shipping bills did not...
![CESTAT sets aside Penalty on Customs Broker as revenue failed to establish Goods mentioned in Shipping Bills didn’t reflect truth of Consignment sought to be Exported [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/f0e36923-82c5-4d2e-acb0-593da3fc0be5.jpg "CESTAT sets aside Penalty on Customs Broker as revenue failed to establish Goods mentioned in Shipping Bills didn’t reflect truth of Consignment sought to be Exported [Read Order]")
Wife eligible for Capital Gain Deduction towards House purchased in Husband’s Name: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the wife is eligible for deduction under section 54 of the Income Tax Act for the investment in a house in the name of her...
![Wife eligible for Capital Gain Deduction towards House purchased in Husband’s Name: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Income-Tax-Act-House-Purchased-ITAT-Taxscan.jpg "Wife eligible for Capital Gain Deduction towards House purchased in Husband’s Name: ITAT [Read Order]")