![Penalty u/s 270A will not attract by Mere Reference of Misreporting of Income: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Penalty-Misreporting-Income-Delhi-High-Court-Taxscan.jpg "Penalty u/s 270A will not attract by Mere Reference of Misreporting of Income: Delhi HC [Read Order]")
Penalty u/s 270A will not attract by Mere Reference of Misreporting of Income: Delhi HC [Read Order]
The division bench of Delhi High Court presided by Mr. Justice Manmohan and Ms. Justice Manmeet Pritam Singh Arora has held that penalty u/s 270A...
![Delhi HC quashes Income Tax Notice against Schneider Electric [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/IGST-Refund-income-assessment-Delhi-HC-t-Schneider-Electric-Taxscan.jpeg "Delhi HC quashes Income Tax Notice against Schneider Electric [Read Order]")
![Penalty u/s 271 alone will Not Exist after Deletion of Addition on Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Penalty-Addition-Income-ITAT-taxscan.jpeg "Penalty u/s 271 alone will Not Exist after Deletion of Addition on Income: ITAT [Read Order]")
![Gift from Father: ITAT upholds Addition since Creditworthiness of Donor was not Proved [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Gift-Father-ITAT-Creditworthiness-Donor-Taxscan.jpeg "Gift from Father: ITAT upholds Addition since Creditworthiness of Donor was not Proved [Read Order]")
![Income earned in Absence of FTS clause in DTAA would fall as Business Income and cannot Taxed in India in Absence of PE: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-DTAA-Business-Income-PE-ITAT-taxscan.jpg "Income earned in Absence of FTS clause in DTAA would fall as Business Income and cannot Taxed in India in Absence of PE: ITAT [Read Order]")
![Interest-bearing Unsecured Loans are allowable as Income Tax Deduction u/s.57(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Interest-unsecured-loans-deduction-ITA-ITAT-taxscan.jpg "Interest-bearing Unsecured Loans are allowable as Income Tax Deduction u/s.57(iii): ITAT [Read Order]")
Assessee needs to establish his Bonafideness for not disclosing details with regard to Income Tax Return: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench consisting of Inturi Rama Rao, Accountant Member, and Partha Sarathi Chaudhury, Judicial Member held that the assessee need to establish his...
![Assessee needs to establish his Bonafideness for not disclosing details with regard to Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-income-ITAT-taxscan.jpg "Assessee needs to establish his Bonafideness for not disclosing details with regard to Income Tax Return: ITAT [Read Order]")
Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance u/s 40 (a) (ia) of the Income Tax Act is not applicable when the recipient included the receipt in their...
![Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-recipient-receipt-Income-ITAT-Taxscan.jpeg "Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]")
An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that an unlawful claim for deduction would not amount to “concealment of income” in order to impose a penalty under Section 271(1)(c) of...
![An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Claim-Deduction-Concealment-of-Income-ITAT-Penalty-taxscan.jpg "An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]")
Income from Penny Stock Transaction, Paid for Purchase of Shares could not be Deducted while computing Undisclosed Cash Income from Transaction in Penny Stock: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT),Mumbai bench held that income from penny stock transactions, paid for purchase of shares could not be deducted while computing undisclosed cash income from...
![Income from Penny Stock Transaction, Paid for Purchase of Shares could not be Deducted while computing Undisclosed Cash Income from Transaction in Penny Stock: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-cash-income-penny-stock-ITAT-taxscan.jpeg "Income from Penny Stock Transaction, Paid for Purchase of Shares could not be Deducted while computing Undisclosed Cash Income from Transaction in Penny Stock: ITAT [Read Order]")
Income from Trust used Directly or Indirectly for benefit of any prohibited Person is not entitled to Exemption u/s 11: ITAT [Read Order]
The Cuttack bench of the Income Tax Appellate Tribunal ( ITAT ) held that income from the trust used directly or indirectly for the benefit of any prohibited person is not entitled to exemption u/s11...
![Income from Trust used Directly or Indirectly for benefit of any prohibited Person is not entitled to Exemption u/s 11: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-trust-benefit-prohibited-Person-Exemption-ITAT-Taxscan.jpeg "Income from Trust used Directly or Indirectly for benefit of any prohibited Person is not entitled to Exemption u/s 11: ITAT [Read Order]")
![Income from Agricultural Land can’t be added under Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-agricultural-land-Capital-Gain-ITAT-Taxscan.jpeg "Income from Agricultural Land can’t be added under Capital Gain: ITAT [Read Order]")