![Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Stamp-Duty-Value-of-Consideration-Consideration-ITAT-Re-Computation-of-Capital-Gains-Capital-Gains-taxscan.jpg "Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]")
Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the re-computation of capital gain as the stamp duty was valued as full value...
![Price paid by Sugar Cooperatives for Purchase of Sugar Cane Higher than FRP Allowable under Recent Amendment u/s 155(19):ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Price-paid-by-Sugar-Cooperatives-Purchase-of-Sugar-Cane-FRP-Sugar-Cane-Recent-Amendment-Sugar-Cooperatives-ITAT-taxscan.jpg "Price paid by Sugar Cooperatives for Purchase of Sugar Cane Higher than FRP Allowable under Recent Amendment u/s 155(19):ITAT [Read Order]")
![Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-Incurred-for-Gifts-to-Customers-Company-during-Festivals-Allowable-us-37-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT [Read Order]")
![ITAT upholds Addition Due to Inadequate Maintenance of Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-upholds-Addition-Due-Inadequate-Maintenance-of-Books-of-Accounts-TAXSCAN.jpg "ITAT upholds Addition Due to Inadequate Maintenance of Books of Accounts [Read Order]")
Addition of loan Amount as Outstanding Balance without Proper Evidence and Documents: ITAT directs AO to Re-adjudicate [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer to re-adjudicate the case regarding the addition of a loan amount as an outstanding balance. The...
![Addition of loan Amount as Outstanding Balance without Proper Evidence and Documents: ITAT directs AO to Re-adjudicate [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/loan-Amount-as-Outstanding-Balance-Proper-Evidence-Documents-ITAT-Re-adjudicate-Addition-of-loan-Amount-taxscan.jpg "Addition of loan Amount as Outstanding Balance without Proper Evidence and Documents: ITAT directs AO to Re-adjudicate [Read Order]")
Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that income arising from land could not be treated as capital asset once the nature of the land sold had established as agricultural...
![Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Arising-from-Sold-Land-Established-Agricultural-Land-Treated-as-Capital-Asset-ITAT-TAXSCAN.jpg "Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]")
![Deduction u/s 35(2AB) of Income Tax Act cannot be Denied Ignoring Form 3CL: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deduction-Income-Tax-Act-Form-3CL-ITAT-taxscan.jpg "Deduction u/s 35(2AB) of Income Tax Act cannot be Denied Ignoring Form 3CL: ITAT [Read Order]")
Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty imposed under Section 273B of the Income Tax Act holding that the cash payment of defaulted EMI instalment to...
![Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cash-Payment-of-Defaulted-EMI-Instalment-to-Financier-Cheque-Bounce-is-Reasonable-Cause-ITAT-deletes-Penalty-us-273B-TAXSCAN.jpg "Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]")
ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) recently confirmed the addition of unexplained income for SBN deposits during the demonetization period in the absence of legitimate...
![ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Unexplained-Income-SBN-Deposits-during-Demonetization-Absence-of-Legitimate-Source-taxscan.jpg "ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]")
ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the penalty order as the non-filing of income return and concealing particulars cannot be levied under Section 271(1)(c)...
![ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Penalty-Order-as-Non-Filing-of-Income-Tax-Return-and-Concealing-Particulars-Levied-u-s-2711c-TAXSCAN.jpg "ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]")