![Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Substantiate-Claim-of-Investment-Deduction-ITAT-upholds-Income-Tax-Addition-Income-Tax-Addition-ITAT-Investment-taxscan.jpg "Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]")
Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that appellant failed to substantiate source of claim of investment in the said property...
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
![No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Assessee-Demonstrated-Source-of-Cash-Deposits-Cash-Deposits-Demonstrated-Source-Bank-Account-Demonitization-Period-ITAT-taxscan.jpg "No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [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]](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]")
Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the gain arising on account of revaluation of the outstanding forward contract as on the last of the previous year as per the...
![Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gain-Loss-arising-out-of-Foreign-Exchange-Fluctuation-Profit-or-Loss-Accrued-Foreign-Exchange-Fluctuation-ITAT-reinstates-Income-Tax-Addition-taxscan.jpg "Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]")
No Deletion of Income Tax Addition Merely on Technical Ground of Wrong Mentioning of Provision by AO: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the additions cannot be deleted merely on technical ground that the Assessing Officer (AO) mentioned Section 68 instead of Section 69...
![No Deletion of Income Tax Addition Merely on Technical Ground of Wrong Mentioning of Provision by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deletion-No-Deletion-No-Deletion-of-Income-Tax-Addition-ITAT-taxscan.jpg "No Deletion of Income Tax Addition Merely on Technical Ground of Wrong Mentioning of Provision by AO: ITAT [Read Order]")
Deletion of Income Tax Addition on Account of Unexplained Investment due to Absence of Documents and Evidences: ITAT upholds CIT(A) Order [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the Revenue was unable to demonstrate documents or evidence, as to the basis with the AO for treating the assessee to have...
![Deletion of Income Tax Addition on Account of Unexplained Investment due to Absence of Documents and Evidences: ITAT upholds CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Income-Tax-Account-of-Unexplained-Investment-Unexplained-Investment-Documents-and-Evidences-Documents-Evidences-ITAT-CITA-Order-taxscan.jpg "Deletion of Income Tax Addition on Account of Unexplained Investment due to Absence of Documents and Evidences: ITAT upholds CIT(A) Order [Read Order]")
Undisputed Source of Cash Deposits in Bank Account during Demonetization: ITAT deletes Income Tax Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that there is no vacillation to hold that the source of the cash deposited in the bank account has been undisputedly proved, hence deleted...
![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]")
AO is Duty Bound to Specify the Defects in Books of Account before Rejection u/s 145(3) of Income Tax Act: ITAT deletes Income Tax Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that Assessing Officer (AO) is duty bound to specify the defects in the books of accounts maintained by the assessee before rejection of...
![AO is Duty Bound to Specify the Defects in Books of Account before Rejection u/s 145(3) of Income Tax Act: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Duty-Bound-Books-of-Account-Income-Tax-Act-Income-Tax-ITAT-Deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Taxscan.jpg "AO is Duty Bound to Specify the Defects in Books of Account before Rejection u/s 145(3) of Income Tax Act: ITAT deletes Income Tax Addition [Read Order]")
Deletion of Income Tax Addition on the Ground of Incomplete Material Evidence against Assessee: ITAT restores Matter to CIT(A) [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the Commissioner of Income Tax (Appeals) [CIT (A)] has not adjudicated the issues on merits thus restored the matter to the CIT(A)...
![Deletion of Income Tax Addition on the Ground of Incomplete Material Evidence against Assessee: ITAT restores Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deletion-of-Income-Tax-Addition-Ground-of-Incomplete-Material-Evidence-Assessee-ITAT-restores-Matter-to-CITA-TAXSCAN.jpg "Deletion of Income Tax Addition on the Ground of Incomplete Material Evidence against Assessee: ITAT restores Matter to CIT(A) [Read Order]")
Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) confirmed the Commissioner of Income Tax (Appeals) [CIT(A)] order of deletion of addition made by Assessing Officer (AO) on account of the...
![Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Future-Generali-India-Life-Insurance-ITAT-Deletion-of-Income-Tax-Addition-on-Profits-from-Pension-Funds-Deletion-of-Income-Tax-Addition-Pension-Funds-Profits-from-Pension-Funds-taxscan.jpg "Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]")