![Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-could-not-made-Absence-of-any-Incriminating-Material-ITAT-TAXSCAN.jpg "Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]")
Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the order passed by the assessing officer under section 68 of the Income Tax...
![Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Legal-Professional-charges-incurred-towards-business-to-be-treated-Revenue-Expenditure-ITAT-RAXSCAN.jpg "Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]")
![Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Relief-to-Reliance-Infrastructure-Limited-ITAT-TAXSCAN.jpg "Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]")
![ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-directs-to-Delete-Disallowance-Expenditure-incurred-towards-Exempt-Income-based-on-Book-Profits-ITAT-TAXSCAN.jpg "ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]")
![Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Lack-of-Jurisdiction-Absence-of-Incriminating-Materials-ITAT-dismisses-Revenues-Appeal-TAXSCAN.jpg "Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]")
Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that deduction under Section 36(1) (va) is allowable only if employees’ share in relevant funds...
![Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deduction-Employees-Share-in-Relevant-Funds-ITAT-Employees-Share-Relevant-Funds-taxscan.jpg "Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]")
Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that interest receipt under TUFS scheme is capital in nature, needs to be excluded while...
![Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Receipt-under-TUFS-Scheme-Capital-in-Nature-needs-to-be-Excluded-While-Working-out-Book-Profits-ITAT-TAXSCAN.jpg "Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]")
Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has denied exemption under Section 10(38) of the Income Tax Act 1961 holding that the assessee is lawfully bound to prove huge long term...
![Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessee-Lawfully-Bound-Prove-Huge-Long-Term-Capital-Gain-Claims-to-be-Genuine-ITAT-TAXSCAN.jpg "Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]")
Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]
The Jaipur bench of Income Tax Appellate Tribunal (ITAT) directed the matter back to the assessing officer for re-adjudication for penalty imposed under Section 271(1)(c) of the Income Tax Act...
![Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-imposed-IT-Act-Penalty-commission-payment-without-proper-hearing-commission-payment-ITAT-directs-re-adjudication-taxscan.jpg "Penalty Imposed u/s 271(1)(c) of IT Act for Commission Payment without Proper Hearing: ITAT directs Re-adjudication [Read Order]")
Number of Cash Receipt received as per Cash Book are not Reflecting in Day Book: ITAT Upholds Addition [Read Order]
The Hyderabad Indore bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the addition made by the Assessing Officer (AO) held that the number of cash receipts received as per cash book...
![Number of Cash Receipt received as per Cash Book are not Reflecting in Day Book: ITAT Upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Number-of-Cash-Receipt-received-as-per-Cash-Book-are-not-reflecting-in-Day-Book-ITAT-upholds-addition-TAXSCAN.jpg "Number of Cash Receipt received as per Cash Book are not Reflecting in Day Book: ITAT Upholds Addition [Read Order]")
Assessee cannot be Non-Filer or Undeclared of Tax in Return on Wrong Allotment of PANs: ITAT Directs Re-Adjudication [Read Order]
The Amritsar Bench Income Tax Appellate Tribunal (ITAT) has directed re-adjudication as the assessee could not be treated as non-filter or undisclosed of tax in return on wrong allotment. The...
![Assessee cannot be Non-Filer or Undeclared of Tax in Return on Wrong Allotment of PANs: ITAT Directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Non-Filer-or-Undeclared-of-Tax-in-Return-on-Wrong-Allotment-of-PANs-ITAT-Directs-Re-Adjudication-TAXSCAN.jpg "Assessee cannot be Non-Filer or Undeclared of Tax in Return on Wrong Allotment of PANs: ITAT Directs Re-Adjudication [Read Order]")
Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that penalty under Section 271(1)(c) of the Income Tax Act is not leviable when no...
![Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Inaccurate-Particulars-of-Income-are-Furnished-by-the-Assessee-ITAT-TAXSCAN.jpg "Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]")