![Corpus Donation collected from Parents of Students admitted in Schools are voluntary in nature: ITAT allows Exemption u/s.11 of I.T Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Corpus-Donation-parents-students-admitted-Schools-voluntary-nature-ITAT-exemption-I.T-Act-TAXSCAN.jpg "Corpus Donation collected from Parents of Students admitted in Schools are voluntary in nature: ITAT allows Exemption u/s.11 of I.T Act [Read Order]")
Corpus Donation collected from Parents of Students admitted in Schools are voluntary in nature: ITAT allows Exemption u/s.11 of I.T Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that corpus donations collected from the parents of the students admitted to the school...
![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]")
![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]")
![ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-directs-Verification-Source-Explained-Settlement-Settlement-Commission-Income-Tax-Act-taxscan-1.jpg "ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]")
![Activity of providing relief to the poor being Charitable in Nature cannot be Denied Exemption in a Corporate World: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Activity-providing-relief-poor-being-Charitable-Nature-Denied-Exemption-Corporate-World-ITAT-TAXSCAN.jpg "Activity of providing relief to the poor being Charitable in Nature cannot be Denied Exemption in a Corporate World: ITAT [Read Order]")
![Non-Consideration Objections Raised by Assessee: ITAT upholds order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-Consideration-Objections-Raised-Assessee-ITAT-upholds-order-CITA-taxscan.jpeg "Non-Consideration Objections Raised by Assessee: ITAT upholds order of CIT(A) [Read Order]")
Cash Deposited in Bank Account as a result of Earlier Withdrawal can't be treated as Undisclosed Income: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the cash deposited in the bank account as a result of earlier withdrawal cannot be treated as unexplained/undisclosed income....
![Cash Deposited in Bank Account as a result of Earlier Withdrawal cant be treated as Undisclosed Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Cash-Deposited-Bank-Account-result-of-Earlier-Withdrawal-Undisclosed-Income-ITAT-TAXSCAN.jpg "Cash Deposited in Bank Account as a result of Earlier Withdrawal cant be treated as Undisclosed Income: ITAT [Read Order]")
No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench while observing the no representation before the lower authorities by the assessee directed readjudication in respect of Sale Consideration...
![No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-effective-Representation-Authorities-No-effective-Representation-before-lower-Authorities-ITAT-taxscan.jpg "No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]")
No Concealment of Income or Furnishing of Inaccurate Particulars: ITAT upholds Deletion of Penalty u/s 271(1)(c) [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no penalty could be imposed under section 271(1)(c) as no concealment of income or furnishing of inaccurate particulars was done...
![No Concealment of Income or Furnishing of Inaccurate Particulars: ITAT upholds Deletion of Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Concealment-of-Income-or-Furnishing-of-Inaccurate-Particulars-Income-Inaccurate-Particulars-ITAT-Penalty-taxscan.jpg "No Concealment of Income or Furnishing of Inaccurate Particulars: ITAT upholds Deletion of Penalty u/s 271(1)(c) [Read Order]")
Capital gain deduction u/s 54F allowable when purchase of residential house is made before due date for filing of return u/s 139(1): ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that purchasing of residential house property before due date for filing return of Income makes assessee eligible for deduction...
![Capital gain deduction u/s 54F allowable when purchase of residential house is made before due date for filing of return u/s 139(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Capital-gain-Capital-gain-deduction-deduction-residential-house-purchase-of-residential-house-ITAT-taxscan.jpg "Capital gain deduction u/s 54F allowable when purchase of residential house is made before due date for filing of return u/s 139(1): ITAT [Read Order]")
ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that depending on auditor for uploading of the return along with return of income, is sufficient cause within the meaning of Section...
![ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-penalty-ITAT-deletes-impugned-penalty-on-grounds-of-there-being-sufficient-failure-to-upload-return-of-income-electronically-return-of-income-income-electronically-taxscan.jpg "ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]")
Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench directed to deposit Rs. 5500/- in Prime Minister relief Fund due to failure to comply with the notice issued by the CIT(A) to substantiate...
![Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-Failure-to-appear-Before-CITA-in-spite-of-sending-six-notices-CITA-notices-taxscan.jpg "Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]")