![Cash seized during Search cannot be Adjusted against Self Assessed Tax Liability: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cash-seized-Search-Self-Assessed-Tax-Liability-ITA-Penalty-Taxscan.jpg "Cash seized during Search cannot be Adjusted against Self Assessed Tax Liability: ITAT deletes Penalty [Read Order]")
Cash seized during Search cannot be Adjusted against Self Assessed Tax Liability: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the cash seized during search cannot be adjusted against the self-assessed...
![Partition/Family Arrangement is not Capital Gain: ITAT deletes Addition towards Transfer of Shares as per Family Arrangement [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/ITAT-Mumbai-Partition-Capital-Gain-ITAT-Family-Arrangement-taxscan.jpeg "Partition/Family Arrangement is not Capital Gain: ITAT deletes Addition towards Transfer of Shares as per Family Arrangement [Read Order]")
![Carbon Credit Income Exempted from Normal Income Tax Provisions and Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Carbon-Credit-Income-Income-Tax-Provisions-Book-Profit-ITAT-taxscan.jpg "Carbon Credit Income Exempted from Normal Income Tax Provisions and Book Profit: ITAT [Read Order]")
![Waiver of Principal Loan Amount in Cash cannot be treated as Business Perquisite: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Principal-Loan-Amount-Cash-Business-Perquisite-ITAT-Taxscan.jpg "Waiver of Principal Loan Amount in Cash cannot be treated as Business Perquisite: ITAT [Read Order]")
Customary Practice of NRI Providing Cash to Parents not 'Suspicious': ITAT deletes Cash Deposit by NRI out of Savings of Family Members
The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh (Vice President) and Shri Manoj Kumar Aggarwal, (AM) has recently deleted an addition against a non-resident...
Sufficiency/Adequacy of 'Reason to Believe' need not be considered to determine Validity of Search u/s 132: Supreme Court [Read Judgment]
The division bench of the Supreme Court has held that sufficiency or adequacy of "reason to believe" need not be considered to determine the validity of search under section 132 of the Income Tax Act...
![Sufficiency/Adequacy of Reason to Believe need not be considered to determine Validity of Search u/s 132: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/07/Reason-to-Believe-determine-Validity-Supreme-Court-taxscan.jpeg "Sufficiency/Adequacy of Reason to Believe need not be considered to determine Validity of Search u/s 132: Supreme Court [Read Judgment]")
CAM charges which are Contractual Payments made for availing Services are subject to TDS u/s 194C: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that Common Maintenance Charges (CAM) which are contractual payments made for availing services are subject to Tax Deduction at Source (TDS)...
![CAM charges which are Contractual Payments made for availing Services are subject to TDS u/s 194C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/CAM-charges-contractual-payments-services-TDS-ITAT-Taxscan.jpeg "CAM charges which are Contractual Payments made for availing Services are subject to TDS u/s 194C: ITAT [Read Order]")
Surplus returned from Common Fund contributed by persons together doesn't amount to profit, No need to be taxed: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal has held that surplus returned from a common fund contributed by persons together doesn’t amount to profit and ruled that no need to be taxed. ...
![Surplus returned from Common Fund contributed by persons together doesnt amount to profit, No need to be taxed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Surplus-returned-profit-ITAT-taxscan.jpeg "Surplus returned from Common Fund contributed by persons together doesnt amount to profit, No need to be taxed: ITAT [Read Order]")
![CBDT notifies Income Tax Exemption to Bihar Electricity Regulatory Commission [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/07/CBDT-Income-Tax-Exemption-Bihar-Electricity-Regulatory-Commission.jpg "CBDT notifies Income Tax Exemption to Bihar Electricity Regulatory Commission [Read Notification]")
![Order passed u/s 263 will not sustainable when no error in Assessment Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Order-assessment-order-ITAT-taxscan.jpg "Order passed u/s 263 will not sustainable when no error in Assessment Order: ITAT [Read Order]")
