![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]")
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...
![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]](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]](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,...
![Claim of Income Tax Extinguishes with Post Approval of Resolution Plan by NCLT: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Income-Tax-Extinguishes-Post-Approval-Resolution-Plan-by-NCLT-Delhi-HC-TAXSCAN.jpg "Claim of Income Tax Extinguishes with Post Approval of Resolution Plan by NCLT: Delhi HC [Read Order]")
![Addition u/s 153C of Income Tax Act without Incriminating Material is Invalid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Tax-Act-Incriminating-Material-Income-Tax-Delhi-Highcourt-taxscan.jpg "Addition u/s 153C of Income Tax Act without Incriminating Material is Invalid: Delhi HC [Read Order]")
ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench deleted the addition made towards the gift of cash amount deposited in the ICICI Bank, received from the father-in-law and mother-in-law of the...
![ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Addition-made-towards-Gift-of-cash-amount-deposited-ICICI-Bank-taxscan.jpg "ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]")
Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench held that income from twin land transactions is taxable under Business Income, not Capital Income. The assessee, Vasant Haribhau's assessment...
![Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Profit-Twin-land-transactions-Taxable-Business-Income-not-Capital-Income-ITAT-TAXSCAN-1.jpg "Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]")
ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench, allowed a deduction on the cost of acquisition of land acquired from allottees of the government for the rehabilitation dam project. The...
![ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deduction-cost-acquisition-land-acquired-allottees-govt-for-rehabilitation-dam-project-TAXSCAN.jpg "ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]")