![No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/addition-Income-Tax-Act-creditworthiness-of-loan-provider-banking-channel-satisfactorily-explained-ITAT-taxscan.jpg "No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]")
No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Surat bench, held that an addition shall not be made under section 68 of the Income Tax Act, 1961 when the...
![ITAT Quashes Assessment order framed in the name of deceased assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Assessment-order-ITAT-Quashes-Assessment-order-deceased-assessee-taxscan.jpg "ITAT Quashes Assessment order framed in the name of deceased assessee [Read Order]")
![ITAT directs Readjudication in respect of sale of Gyrovator to customers out of Unaccounted Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Readjudication-sale-of-Gyrovator-Unaccounted-Purchases-TAXSCAN.jpg "ITAT directs Readjudication in respect of sale of Gyrovator to customers out of Unaccounted Purchases [Read Order]")
![Income from sale of shares/securities/PMS/mutual funds taxable under head “Capital Gains”: ITAT grants relief to Hero Investment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-from-sale-of-shares-securities-PMS-mutual-funds-taxable-Capital-Gains-ITAT-grants-Hero-Investment-TAXSCAN.jpg "Income from sale of shares/securities/PMS/mutual funds taxable under head “Capital Gains”: ITAT grants relief to Hero Investment [Read Order]")
![Rental Income earned from Lease of building taxable under the head “Income from Business and Profession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Rental-Income-earned-from-Lease-building-taxable-Income-from-Business-and-Profession-ITAT-Income-Tax-Act-Income-Tax-TAXSCAN.jpg "Rental Income earned from Lease of building taxable under the head “Income from Business and Profession: ITAT [Read Order]")
Exemption u/s 10(23B) of Income Tax Act cannot be denied for Mere Technical Violation: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the exemption under Section 10(23B) of Income Tax Act 1961 could not be denied for mere technical violation. The assessee,...
![Exemption u/s 10(23B) of Income Tax Act cannot be denied for Mere Technical Violation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Exemption-Under-Section-1023B-ITAT-Income-Tax-Act-Income-Tax-Mere-Technical-Violation-Technical-Violation-TAXSCAN.jpg "Exemption u/s 10(23B) of Income Tax Act cannot be denied for Mere Technical Violation: ITAT [Read Order]")
ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance under Section 40A(2)(B) of the Income Tax Act 1961, upon estimated income from subcontract of joint venture The...
![ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Disallowance-Estimated-Income-Sub-Contract-of-Joint-Venture-Joint-Venture-Income-Tax-Act-Income-Tax-ITAT-TAXSCAN.jpg "ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]")
Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that the notice for penalty proceedings was issued by the Assessing Officer without specifying the charge of the offense committed by the...
![Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Notice-of-Penalty-Specifying-Charge-of-Offense-committed-by-Assessee-ITAT-deletes-Penalty-ITAT-Income-Tax-Act-Income-Tax-TAXSCAN.jpg "Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]")
Jewellery found during Survey Proceedings are Gifts from Mother-In-Law as Stridhan: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting the addition, observed that the jewelry found during survey proceedings were gifts from the mother-in-law as stridhan. The...
![Jewellery found during Survey Proceedings are Gifts from Mother-In-Law as Stridhan: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Jewellery-Survey-Proceedings-Stridhan-ITAT-deletes-Addition-INCOME-TAX-INCOME-TAX-ACT-Gifts-from-Mother-In-Law-TAXSCAN-1.jpg "Jewellery found during Survey Proceedings are Gifts from Mother-In-Law as Stridhan: ITAT deletes Addition [Read Order]")
Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that the addition made on the basis of the deeming provisions of section 2(22)(e) of the Income Tax Act, 1961, is for estimating income and...
![Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-deeming-provisions-of-Section-222e-of-Income-Tax-Act-Estimating-Income-and-not-for-Inaccurate-Particulars-of-Income-ITAT-deletes-penalty-2711c-Income-Tax-Act-TAXSCAN.jpg "Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Gifts received in shape of cash “Shaguns” on various occasions like Marriages, Birthdays, Anniversaries kept in Locker shall not be treated as Unexplained Money u/s 69A of Income Tax Act: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that gifts received in the form of cash shaguns on various occasions, such as marriages, birthdays, and anniversaries, kept in a locker,...
