![Salary paid Outside the Books of Account cannot be considered as Concealed Profit, No Addition to Income sustained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Salary-book-of-account-profit-income-ITAT-taxscan.jpg "Salary paid Outside the Books of Account cannot be considered as Concealed Profit, No Addition to Income sustained: ITAT [Read Order]")
Salary paid Outside the Books of Account cannot be considered as Concealed Profit, No Addition to Income sustained: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench comprising Shri N K Saini, vice president & Shri Sudhanshu Srivastava, has held that...
![ITAT sets aside Order Deleting Disallowances on Account of Loss on Revaluation of Fixed Assets [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/ITAT-Order-Loss-Fixed-Assets-taxscan.jpg "ITAT sets aside Order Deleting Disallowances on Account of Loss on Revaluation of Fixed Assets [Read Order]")
![Shares Invested in Paper Companies: ITAT confirms Disallowance of LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Long-Term-Capital-Gain-Shares-Paper-Companies-ITAT-LTCG-taxscan.jpeg "Shares Invested in Paper Companies: ITAT confirms Disallowance of LTCG [Read Order]")
![Rough Estimation done by Partner as On Money cannot be considered under Unexplained Cash Credit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/partner-money-cash-credit-ITAT-taxscan.jpg "Rough Estimation done by Partner as On Money cannot be considered under Unexplained Cash Credit: ITAT [Read Order]")
Legal Heirs Unaware of Details and Failed to Produce Additional Evidence before Lower Authority: ITAT Remands Matter back to AO [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal has held that the legal heirs unaware of details and failed to produce additional evidence before lower authority and remand the matter back to...
![Legal Heirs Unaware of Details and Failed to Produce Additional Evidence before Lower Authority: ITAT Remands Matter back to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Legal-Heirs-Additional-Evidence-Lower-authority-ITAT-AO-taxscan.jpg "Legal Heirs Unaware of Details and Failed to Produce Additional Evidence before Lower Authority: ITAT Remands Matter back to AO [Read Order]")
Non-response to Income Tax Notices due to Pandemic is 'Reasonable Cause' for Delay: ITAT Orders Fresh Adjudication [Read Order]
In an assessee-friendly ruling, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri N. V. Vasudevan, Vice President and Shri Chandra Poojari, Accountant Member has...
![Non-response to Income Tax Notices due to Pandemic is Reasonable Cause for Delay: ITAT Orders Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Notices-ITAT-Adjudication-taxscan.jpeg "Non-response to Income Tax Notices due to Pandemic is Reasonable Cause for Delay: ITAT Orders Fresh Adjudication [Read Order]")
Denial of Corpus Donation without giving Assessee reasonable opportunity of being heard is unjust: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench consisting of P.M. Jagtap, Vice-President, and T.R. Senthil Kumar, Judicial Member held that denial of corpus donation without giving the...
![Denial of Corpus Donation without giving Assessee reasonable opportunity of being heard is unjust: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/corpus-donation-assessee-ITAT-taxscan.jpg "Denial of Corpus Donation without giving Assessee reasonable opportunity of being heard is unjust: ITAT [Read Order]")
Rental Income from Building cannot be treated as Business Income since Assessee is not Involved in Business of Leasing: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam bench has held that the rental income received from the building cannot be treated as business income of the assessee who is not involved in...
![Rental Income from Building cannot be treated as Business Income since Assessee is not Involved in Business of Leasing: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/ITAT-Vishakapattanam-Rental-Income-Business-Income-Assessee-Business-of-Leasing-ITAT-taxscan.jpeg "Rental Income from Building cannot be treated as Business Income since Assessee is not Involved in Business of Leasing: ITAT [Read Order]")
![Depreciation allowable on Goodwill: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Depreciation-Goodwill-ITAT-taxscan.jpeg "Depreciation allowable on Goodwill: ITAT [Read Order]")
Drawings made for Non-Business purposes are not allowable as Income Tax Deduction: ITAT [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) has held that drawings made for non-business purposes are not allowable as a deduction under section 36(1)(iii) of the Income Tax...
![Drawings made for Non-Business purposes are not allowable as Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Drawings-non-business-Deduction-ITAT-Taxscan.jpeg "Drawings made for Non-Business purposes are not allowable as Income Tax Deduction: ITAT [Read Order]")
Income Tax Return not filed after receiving Re-Assessment Notice: ITAT upholds Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has upheld the penalty order by observing that the income tax return was not filed after receiving the re-assessment notice under section 148...
![Income Tax Return not filed after receiving Re-Assessment Notice: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Return-Re-Assessment-Notice-ITAT-upholds-Penalty-taxscan.jpeg "Income Tax Return not filed after receiving Re-Assessment Notice: ITAT upholds Penalty [Read Order]")