![Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Bangalore-Income-Tax-Addition-Interest-Income-from-Govt-Project-Funds-Taxscan.jpg "Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]")
Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest Entirely remitted back to Central/State Govt: ITAT [Read Order]
In a recent ruling, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) held that Income Tax addition is not applicable on the interest...
![No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Addition-Partnership-Firm-Capital-Account-ITAT-taxscan.jpeg "No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]")
![Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Cash-Deposit-Sources-Income-Tax-Act-ITAT-Assessing-Officer-Re-Adjudication-taxscan.jpeg "Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]")
![ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-Income-tax-addition-ITAT-Delhi-ITAT-Deletes-Income-Tax-Addition-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]")
Addition on Unaccounted Sales and Purchases under Income Tax Act Solely Based on Loose Slips is Invalid: ITAT [Read Order]
The Banglore Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the addition on unaccounted sales and purchases under the income tax act solely based on loose slips is invalid and deleted...
![Addition on Unaccounted Sales and Purchases under Income Tax Act Solely Based on Loose Slips is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-appellate-tribunal-Income-tax-act-sales-and-purchases-TAXSCAN.jpg "Addition on Unaccounted Sales and Purchases under Income Tax Act Solely Based on Loose Slips is Invalid: ITAT [Read Order]")
ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayer's Non-Agricultural Land Sale [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed an Income tax addition of Rs. 1.45 crore as short-term capital gain from the taxpayer's sale of non-agricultural land. The...
![ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayers Non-Agricultural Land Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Income-Tax-Addition-as-Short-Term-Capital-Gain-Taxpayers-Non-Agricultural-Land-Sale-taxscan.jpg "ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayers Non-Agricultural Land Sale [Read Order]")
Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.17 crore under Section 68 of the Income Tax Act, 1961 as the taxpayer had discharged the burden to prove...
![Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Income-Tax-Addition-Taxpayer-ITAT-mumbai-Section-68-of-the-Income-Tax-Act-taxscan.jpg "Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]")
Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68, of Income Tax Act, 1961 as the identity and creditworthiness of the share subscribers, along...
![Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-kolkata-Income-Tax-Addition-ITAT-deletes-Income-Tax-Appellate-Trribunal-taxscan.jpg "Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]")
Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 89 lakhs under Section 69 of the Income Tax Act, 1961 after the source of cash seized by the Central Bureau...
![Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Cash-Source-Seized-ITAT-ITAT-delhi-CBI-Corporate-Office-Income-Tax-Section-69-of-the-Income-Tax-Act-Central-Bureau-of-Investigation-taxscan.jpg "Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]")
Cash Deposits made From Parent's Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has deleted the Income tax addition of unexplained money. It was found that the cash deposit was made from the assessee's parent’s...
![Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Ahmedabad-Cash-Deposits-made-From-Agricultural-Activities-ITAT-Deletes-Income-Tax-Addition-taxscan.jpg "Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]")
Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]
In a significant ruling the Delhi High Court observed that the income tax addition made towards unsubstantiated share capital is eligible for deduction under Section 80-IC of the Income Tax Act,...
![Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Exemption-Salaried-Employees-Income-Tax-Exemption-for-Salaried-Employees-taxscan-1.jpg "Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]")