![Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during Demonitization: ITAT dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deletion-of-Income-Tax-Addition-on-successful-Demonstration-of-Source-of-Cash-Deposits-to-bank-during-Demonitization-ITAT-dismisses-Revenue-Appeal-TAXSCAN.jpg "Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during Demonitization: ITAT dismisses Revenue Appeal [Read Order]")
Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during Demonitization: ITAT dismisses Revenue Appeal [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee has successfully demonstrated source of cash deposit of Rs....
![Addition u/s 56(2)(x) not sustainable when Conditions for purchase were as per Conditions mentioned in Allotment letter: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-sustainable-Conditions-sustainable-when-Conditions-for-purchase-were-as-per-Conditions-mentioned-in-Allotment-letter-ITAT-taxscan.jpg "Addition u/s 56(2)(x) not sustainable when Conditions for purchase were as per Conditions mentioned in Allotment letter: ITAT [Read Order]")
![Ignoring IT Proceedings: ITAT imposes a cost to make Assessee understand the Seriousness of Income Tax Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Ignoring-IT-Proceedings-IT-proceedings-ITAT-imposes-a-cost-to-make-Assessee-understand-the-Seriousness-of-Income-Tax-Proceedings-ITAT-taxscan.jpg "Ignoring IT Proceedings: ITAT imposes a cost to make Assessee understand the Seriousness of Income Tax Proceedings [Read Order]")
![Undisputed Source of Cash Deposits in Bank Account during Demonetization: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Undisputed-Source-of-Cash-Deposits-Source-of-Cash-Deposits-Bank-Account-ITAT-deletes-Income-Tax-Addition-ITAT-taxscan.jpg "Undisputed Source of Cash Deposits in Bank Account during Demonetization: ITAT deletes Income Tax Addition [Read Order]")
![Retained Amount from Security Deposit of leased housing property due to cancellation of Lease Deed is assessable under head ‘Income from House Property’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Retained-amount-from-Security-Deposit-of-leased-housing-property-due-to-cancellation-of-Lease-income-from-House-Property-ITAT-TAXSCAN.jpg "Retained Amount from Security Deposit of leased housing property due to cancellation of Lease Deed is assessable under head ‘Income from House Property’: ITAT [Read Order]")
Additional Income under excess stocks treated as 'business income' does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that the Commissioner of Income Tax (Appeals) [CIT(A)] was not justified in confirming the order of Assessing Officer (AO) in excluding the...
![Additional Income under excess stocks treated as business income does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-Income-under-excess-stocks-treated-business-income-Income-Tax-Act-ITAT-TAXSCAN.jpg "Additional Income under excess stocks treated as business income does not attract the provisions u/s 69B of Income Tax Act: ITAT [Read Order]")
ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench directed to compute addition towards 2% of profit on silver sold by assessee found during the course of search proceedings. The AO made additions...
![ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-profit-on-sale-of-silver-by-assessee-found-during-Search-proceedings-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]")
Fees paid to USFDA for Approval of Medicament is Service under Finance Act, liable to Service Tax: CESTAT [Read Order]
The Ahmadabad bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the fees paid by Cadila Pharmaceuticals Ltd (the appellant) to the United States Food and Drug...
![Fees paid to USFDA for Approval of Medicament is Service under Finance Act, liable to Service Tax: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fees-paid-USFDA-Approval-Medicament-Service-Finance-Act-liable-Service-Tax-CESTAT-TAXSCAN.jpg "Fees paid to USFDA for Approval of Medicament is Service under Finance Act, liable to Service Tax: CESTAT [Read Order]")
Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesn't attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of gratuity after deduction of the actual gratuity charged to the profit in the profit/ loss account doesn’t...
![Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Provision-of-Gratuity-deduction-of-Actual-Gratuity-charged-to-Profit-in-P-L-Account-disallowance-ITAT-directs-AO-for-fresh-Consideration-TAXSCAN.jpg "Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]")
Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that if there is relevant material on the basis of which a reasonable person can form a requisite belief that income chargeable to tax...
![Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Re-Assessment-Re-Assessment-Proceedings-Income-Tax-Act-Reasonable-Person-ITAT-taxscan.jpg "Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]")
Delhi HC Directs Release of Excess Tax Adjustment as Set-off of Refund Against Outstanding Tax Demands Limited to 20% of Disputed Demand [Read Order]
The High Court of Delhi has directed the release of excess tax adjustment by the Assessing Officer (AO) on the finding that the set-off of refund against the outstanding tax demands is limited to 20%...
![Delhi HC Directs Release of Excess Tax Adjustment as Set-off of Refund Against Outstanding Tax Demands Limited to 20% of Disputed Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Delhi-HC-Directs-Release-of-Excess-Tax-Adjustment-Set-off-of-Refund-Outstanding-Tax-Demands-Limited-Disputed-Demand-TAXSCAN.jpg "Delhi HC Directs Release of Excess Tax Adjustment as Set-off of Refund Against Outstanding Tax Demands Limited to 20% of Disputed Demand [Read Order]")
Change in Shareholding Pattern of same Shareholders having 51% of Voting Power won't attract provision of Section 79 of IT Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that change in the shareholding pattern of the same shareholders having 51% of the voting power won’t attract the provision of...
![Change in Shareholding Pattern of same Shareholders having 51% of Voting Power wont attract provision of Section 79 of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Change-Shareholding-Pattern-Voting-Power-attract-provision-ITAT-TAXSCAN.jpg "Change in Shareholding Pattern of same Shareholders having 51% of Voting Power wont attract provision of Section 79 of IT Act: ITAT [Read Order]")