ITAT Deletes Addition on Account of Cash Gifts Received from Mother through Gift Deed in Absence of Contrary Material
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition on account of cash gifts received from mother through gift deed as...
![Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-from-Sale-of-Agricultural-land-is-not-Capital-Asset-ITAT-TAXSCAN.jpg "Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]")
![Delhi HC upholds Penalty Imposed on Overseas Entity Seville Products Limited for Customs Duty Evasion [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Delhi-HC-upholds-Penalty-Imposed-Overseas-Entity-Seville-Products-Limited-for-Customs-Duty-Evasion-TAXSCAN.jpg "Delhi HC upholds Penalty Imposed on Overseas Entity Seville Products Limited for Customs Duty Evasion [Read Order]")
![Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Receipt-under-TUFS-Scheme-Capital-in-Nature-needs-to-be-Excluded-While-Working-out-Book-Profits-ITAT-TAXSCAN.jpg "Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]")
![Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessee-Lawfully-Bound-Prove-Huge-Long-Term-Capital-Gain-Claims-to-be-Genuine-ITAT-TAXSCAN.jpg "Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]")
Dept. Fails to Submit Contradictory view to CIT(A)'s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on failure of the department to submit a contradict view to the CIT(A)’s decision, confirmed the...
![Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Dept.-Fails-to-Submit-Contradictory-view-Decision-ITAT-allows-Depreciation-Expenses-on-Crates-ITAT-TAXSCAN.jpg "Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]")
AO can initiate proceedings either u/s 143(2) or 147 of IT Act before completion of Assessment of Deemed Income Escapement: ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that assessing officers could initiate proceedings either under Sections 143(2) or 147 of Income Tax Act, 1961 before...
Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), New Delhi held that Addition u/s 43CA on absence of evidence for receipt of money in addition to sale consideration is invalid. The assessee Company, M/s....
![Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/absence-of-evidence-receipt-of-money-ITAT-taxscan.jpg "Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]")
Sale Consideration of Software Products not Taxable as Royalty under Article 12 of India-Singapore DTAA: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, while deciding an appeal filed before it, held that sale consideration of software products is not taxable as royalty under...
Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), has held thatcircuitous rotation of unaccounted money is not a genuine loan transaction and upholds addition u/s 68. The appellant, M/s...
![Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unaccounted-Money-Loan-Transaction-ITAT-taxscan.jpg "Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]")
Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]
Adopting the circle rate of the property is a violation of 56(2)(viib), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of CIT(A)which deleted the addition of...
![Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Adopting-Circle-Rate-Property-violation-ITAT-upholds-CITA-TAXSCAN.jpg "Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]")
![No Objection on Disallowance under section 14A: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Objection-Disallowance-ITAT-Penalty-TAXSCAN.jpg "No Objection on Disallowance under section 14A: ITAT deletes Penalty [Read Order]")