![Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-Proceeds-of-Gold-Jewellery-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]")
Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]
The Mumbai Bench of Income Tax Appellate tribunal (ITAT) has allowed capital gain exemption under Section 54F of the Income Tax Act 1961, on finding...
![Sale Proceed of Agricultural Produce without Invoice cannot be Doubted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-Proceed-Agricultural-Produce-Invoice-Doubted-ITAT-TAXSCAN.jpg "Sale Proceed of Agricultural Produce without Invoice cannot be Doubted: ITAT [Read Order]")
![Income Tax Penalty u/s 271(1)(c)cannot be Levied based on Information from Outside Agency/ Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Penalty-Information-Outside-Agency-Dept-ITAT-TAXSCAN.jpg "Income Tax Penalty u/s 271(1)(c)cannot be Levied based on Information from Outside Agency/ Dept: ITAT [Read Order]")
![Income Tax Return filed with Defect and Consequent Intimation u/s.143(1) is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Return-Defect-Consequent-Intimation-Invalid-ITAT-TAXSCAN.jpg "Income Tax Return filed with Defect and Consequent Intimation u/s.143(1) is Invalid: ITAT [Read Order]")
Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it by Air India, upheld the orders allowing unusable old inventory of spare and parts, as loss. The...
![Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Air-India-ITAT-Old-Inventory-of-Spares-Parts-Loss-TAXSCAN.jpg "Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]")
ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]
The Income Tax Appellate Tribunal (ITAT)deleted disallowance under section 40A(3) of the Income Tax Appellate Tribunal when assessee made payment in cash not directly to the seller. M/s.Piprani...
![ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-Payment-Cash-TAXSCAN.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]")
![No Evidence to prove lack of ownership: ITAT upholds order of CIT(A) accepting LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-ITAT-CITA-LTCG-taxscan.jpg "No Evidence to prove lack of ownership: ITAT upholds order of CIT(A) accepting LTCG [Read Order]")
Mere Wrong Mention of TAN in TDS Deposit Challan would not Attract Demand u/s 200A of Income Tax Act: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) found that incorrectly entering a Tax Deduction Account Number (TAN) in a Tax Deduction Source (TDS) deposit Challan will not result in a...
![Mere Wrong Mention of TAN in TDS Deposit Challan would not Attract Demand u/s 200A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/TAN-TDS-Deposit-Challan-Income-Tax-Act-ITAT-TAXSCAN.jpg "Mere Wrong Mention of TAN in TDS Deposit Challan would not Attract Demand u/s 200A of Income Tax Act: ITAT [Read Order]")
Compensation on compulsory acquisition of land is exempted u/s 10(37): ITAT deletes income tax addition [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) deleted the income tax addition as the compensation on compulsory acquisition of land is exempted under section 10(37) of the Income Tax...
![Compensation on compulsory acquisition of land is exempted u/s 10(37): ITAT deletes income tax addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Compensation-on-compulsory-acquisition-of-land-ITAT-income-tax-addition-TAXSCAN.jpg "Compensation on compulsory acquisition of land is exempted u/s 10(37): ITAT deletes income tax addition [Read Order]")
Interest in Replacement Rehabilitation and Development Fund must be Directly taken into P& L Account: Orissa HC [Read Order]
In the case of Paradeep Port Trust, the Orissa High Court (HC) held that interest in the replacement rehabilitation and development fund must be directly taken into Profit & Loss account. The...
![Interest in Replacement Rehabilitation and Development Fund must be Directly taken into P& L Account: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Replacement-Rehabilitation-Development-Fund-Orissa-HC-TAXSCAN.jpg "Interest in Replacement Rehabilitation and Development Fund must be Directly taken into P& L Account: Orissa HC [Read Order]")
Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]
In a significant case of Tata Industries, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that foreign dividend income which is chargeable to tax is outside the provision of 14...
![Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Foreign-Dividend-Income-Chargeable-to-Tax-ITAT-Tata-Industries-TAXSCAN.jpg "Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]")