ITAT deletes Unexplained Jewelry Additions, Applies CBDT Instruction 1916 allowing Jewelry Holding for other Family Members
The Bangalore Bench of the Income Tax Appellate Authority ( ITAT ) deleted the addition made by the assessing officer (AO) on unexplained jewelry by...
![Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-AO-Assessment-Documents-Insufficient-Income-Tax-Taxscan.jpg "Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]")
![Rental Income from Factory Building Taxed as Income from House Property, Eligible for Deduction u/s 24: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Delhi-High-Court-House-Property-Rental-Income-Building-Tax-Taxscan.jpg "Rental Income from Factory Building Taxed as Income from House Property, Eligible for Deduction u/s 24: Delhi HC [Read Order]")
![S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Pune-Deduction-S.54F-Deduction-Capital-Gains-Taxscan.jpg "S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]")
![Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-SPA-Loss-Disallowance-Disallowance-Taxscan.jpg "Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]")
AO Levied Penalty u/s 271AAB for Alleged Undisclosed Income during Search: ITAT deletes Penalty due to Lack of Clear Evidence [Read Order]
The New Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the penalty levied under Section 271AAB of the Income Tax Act, 1961 for alleged undisclosed income during the search. The...
![AO Levied Penalty u/s 271AAB for Alleged Undisclosed Income during Search: ITAT deletes Penalty due to Lack of Clear Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Delhi-Section-271AAB-of-the-Income-Tax-Act-Evidence-Undisclosed-Income-Taxscann.jpg "AO Levied Penalty u/s 271AAB for Alleged Undisclosed Income during Search: ITAT deletes Penalty due to Lack of Clear Evidence [Read Order]")
ITAT deletes Rs. 14 Lakhs Addition made by AO due to Misreported Property Transaction Details [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) deleted a Rs. 14 lakhs addition made by the Assessing Officer ( AO ) under section 69A of Income Tax Act,1961. The addition was based on...
![ITAT deletes Rs. 14 Lakhs Addition made by AO due to Misreported Property Transaction Details [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Bangalore-ITAT-Income-Tax-Appellate-Tribunal-AO-Assessing-Officer-section-69A-of-Income-Tax-Act-Misreported-Property-Transaction-Details-taxscan.jpg "ITAT deletes Rs. 14 Lakhs Addition made by AO due to Misreported Property Transaction Details [Read Order]")
ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Ahmedabad recently remanded a case involving a Section 80IA deduction claim by a company engaged in windmill power business amidst conflicting precedents...
![ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Deduction-Income-Tax-Deduction-Claim-Taxscan.jpg "ITAT Orders Review of S.80I Income Tax Deduction Claim by Windmill Business amidst Conflicting Precedents [Read Order]")
Income Tax Notices Sent via Email against Assessee's Request: ITAT Sets aside CIT(A)’s Ex Parte Order [Read Order]
The Ahmedabad “B” bench of Income Tax Appellate Tribunal ( ITAT ) in a recent case set aside an ex parte order passed against the appellant, noting that the notices were sent to the appellant through...
![Income Tax Notices Sent via Email against Assessees Request: ITAT Sets aside CIT(A)’s Ex Parte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Ahmedabad-Income-Tax-Notices-Ex-Parte-Order-Taxscan.jpg "Income Tax Notices Sent via Email against Assessees Request: ITAT Sets aside CIT(A)’s Ex Parte Order [Read Order]")
Penalty u/s 270A cannot be Imposed if Assessed and Processed Income are Same: ITAT Quashes Penalty on S. 43B Disallowances [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the penalty under Section 270A of Income Tax Act,1961 cannot be imposed when the assessed income matches the income determined in...
![Penalty u/s 270A cannot be Imposed if Assessed and Processed Income are Same: ITAT Quashes Penalty on S. 43B Disallowances [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Delhi-Assesse-Disallowances-Income-Tax-Taxscan.jpg "Penalty u/s 270A cannot be Imposed if Assessed and Processed Income are Same: ITAT Quashes Penalty on S. 43B Disallowances [Read Order]")
Survey Team Mistakenly Multiplies Bundle Weights instead of Accurate Weighing Leading to Quantity Mismatch: ITAT deletes ₹1.3 Crore Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner Of Income Tax (Appeals) [CIT(A)]'s deletion of a Rs.1,36,08,090 addition, finding that the survey team had...
![Survey Team Mistakenly Multiplies Bundle Weights instead of Accurate Weighing Leading to Quantity Mismatch: ITAT deletes ₹1.3 Crore Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Delhi-Survey-Team-Income-Tax-Appellate-Tribunal-Taxscan.jpg "Survey Team Mistakenly Multiplies Bundle Weights instead of Accurate Weighing Leading to Quantity Mismatch: ITAT deletes ₹1.3 Crore Addition [Read Order]")
