![Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/unexplained-income-audited-regular-books-ITAT-books-Taxscan.jpeg "Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]")
Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench has held that the addition of unexplained income u/s 69 is not sustainable in the...
![Cash Deposit during Demonetization: ITAT deletes Addition since Proprietor maintained Business Cash in hand [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Cash-Deposit-Demonetization-ITAT-ITAT-Chennai-Cash-in-Hand-Taxscan.jpeg "Cash Deposit during Demonetization: ITAT deletes Addition since Proprietor maintained Business Cash in hand [Read Order]")
![Re-Assessment based on Materials already available during Regular Assessment is Mere Change of Opinion: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Re-Assessment-Assessment-Change-of-Opinion-Calcutta-HC-Taxscan.jpg "Re-Assessment based on Materials already available during Regular Assessment is Mere Change of Opinion: Calcutta HC [Read Order]")
![Deduction reduced on account of interpretative process cannot be equated with furnishing of inaccurate particulars of Income, Penalty u/s 271(1)(c) will not sustain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Deduction-income-penalty-ITAT-taxscan.jpeg "Deduction reduced on account of interpretative process cannot be equated with furnishing of inaccurate particulars of Income, Penalty u/s 271(1)(c) will not sustain: ITAT [Read Order]")
Assessee is not a Licence holder to claim TCS in ITR: ITAT directs AO to Examine Outcome of Application for Transfer of Licence [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Bangalore bench presided by Mr N. V. Vasudevan, Vice President has directed Assessing Officer to examine the outcome of an application for transfer of...
![Assessee is not a Licence holder to claim TCS in ITR: ITAT directs AO to Examine Outcome of Application for Transfer of Licence [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Licence-holder-TCS-ITR-ITAT-Ao-Application-Transfer-Licence-taxscan.jpg "Assessee is not a Licence holder to claim TCS in ITR: ITAT directs AO to Examine Outcome of Application for Transfer of Licence [Read Order]")
![Reassessment made without serving Notice u/s 148 is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Reassessment-notice-ITAT-taxscan.jpeg "Reassessment made without serving Notice u/s 148 is Invalid: ITAT [Read Order]")
Property not let out during Assessing Year is not applicable for provision u/s 23(1)(c): ITAT [Read Order]
While considering a bunch of appeals, the Pune bench of Income Tax Appellate Tribunal (ITAT) has held that property which was not let out during the assessing year is not applicable u/s 23(1)(c) of...
![Property not let out during Assessing Year is not applicable for provision u/s 23(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Property-assessing-year-provision-ITAT-taxscan.jpg "Property not let out during Assessing Year is not applicable for provision u/s 23(1)(c): ITAT [Read Order]")
Income Tax Appeal cannot be dismissed on Technical Grounds If Substantial Question to be Answered: Calcutta HC [Read Order]
The Calcutta High Court, while allowing an appeal by the income tax department after condoning delay, has held that if a substantial question arose through an appeal filed under section 206A of the...
![Income Tax Appeal cannot be dismissed on Technical Grounds If Substantial Question to be Answered: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Appeal-Technical-Grounds-Calcutta-HighCourt.jpeg "Income Tax Appeal cannot be dismissed on Technical Grounds If Substantial Question to be Answered: Calcutta HC [Read Order]")
![Seven-Days Time is mandatory to Respond to Re-Assessment Notice u/s 148: Meghalaya HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Seven-Days-Time-mandatory-to-Respond-Re-Assessment-Notice-Meghalaya-High-Court.jpeg "Seven-Days Time is mandatory to Respond to Re-Assessment Notice u/s 148: Meghalaya HC [Read Order]")
Income Tax Penalty cannot be levied for Bonafide and Inadvertent Mistake resulted in Excess Claim of Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that a bonafide and inadvertent mistake ultimately caused an excessive claim of deduction would not attract penalty under section...
![Income Tax Penalty cannot be levied for Bonafide and Inadvertent Mistake resulted in Excess Claim of Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/IncomeTax-Penalty-Bonafide-Claim-Deduction-ITAT-taxscan.jpeg "Income Tax Penalty cannot be levied for Bonafide and Inadvertent Mistake resulted in Excess Claim of Deduction: ITAT [Read Order]")
Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to 'Mis-Reporting' [Read Order]
A division bench of the Delhi High Court comprising of Justices Manmohan and Manmeet Pritam Singh Arora has ruled that where the underreporting of income allegedly done by the assessee is due to the...
![Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to Mis-Reporting [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-AO-Delhi-HC-taxscan.jpeg "Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to Mis-Reporting [Read Order]")