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![Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order] Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Deemed-Gift-Gift-Income-Tax-Act-Income-Tax-Tax-Taxscan.jpg)
Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) has recently held that provisions of deemed gift under section 56(2)(vii)(b) of Income Tax...



![ITAT deletes Addition against ESPN Star Sports [Read Order] ITAT deletes Addition against ESPN Star Sports [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-ESPN-Star-Sports-Star-Sports-Income-Tax-Tax-Taxscan.jpg)
![Advance Tax Not Payable If Assessee is Above Age of 60 Years having No Business Income: ITAT [Read Order] Advance Tax Not Payable If Assessee is Above Age of 60 Years having No Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Advance-Tax-Tax-Income-Tax-Business-Income-ITAT-taxscan.jpg)
![2% TDS u/s 194C Applicable to CAM Charges, S. 194I Not Applicable: ITAT [Read Order] 2% TDS u/s 194C Applicable to CAM Charges, S. 194I Not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/TDS-CAM-Charges-ITAT-Income-Tax-Tax-Taxscan.jpg)
![Unabsorbed Depreciation only taken to make adjustment u/s 115JB be Set off Against Current Year Book Profit: ITAT grants relief to PVR Pictures[ Read Order] Unabsorbed Depreciation only taken to make adjustment u/s 115JB be Set off Against Current Year Book Profit: ITAT grants relief to PVR Pictures[ Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/adjustment-us-115JB-Book-Profit-ITAT-PVR-Pictures-TAXSCAN.jpg)
![Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order] Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Revisional-Jurisdiction-ITAT-Proceedings-Saif-Partners-India-IV-Limited-Taxscan.jpg)
![Mere putting of seal as approving Statement is not sufficient: ITAT quashes Reassessment proceedings [Read Order] Mere putting of seal as approving Statement is not sufficient: ITAT quashes Reassessment proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-Reassessment-Income-Tax-Tax-Taxscan.jpg)
![AO Travelled beyond Jurisdiction: ITAT quashes Disallowance on Lottery Expenses [Read Order] AO Travelled beyond Jurisdiction: ITAT quashes Disallowance on Lottery Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Jurisdiction-ITAT-Lottery-Expenses-Income-Tax-Tax-Taxscan.jpg)
![Relief to Travelport: Assessee Not Responsible to Explain Recipients of Receipts shown in Form No.26AS, rules ITAT [Read Order] Relief to Travelport: Assessee Not Responsible to Explain Recipients of Receipts shown in Form No.26AS, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Travelport-Form-No.-26AS-Recipients-Taxscan.jpg)
![Revisional Jurisdiction cannot be Invoked on ground of Uncertain Issue of Entitlement of Treaty Benefit: ITAT [Read Order] Revisional Jurisdiction cannot be Invoked on ground of Uncertain Issue of Entitlement of Treaty Benefit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Revisional-Jurisdiction-Issue-Entitlement-Treaty-Benefit-ITAT-TAXSCAN.jpg)
![Income from SAP and IT Support Services are not FTS as per Treaties: ITAT grants Relief to Netafim [Read Order] Income from SAP and IT Support Services are not FTS as per Treaties: ITAT grants Relief to Netafim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-PE-DTAA-FTS-SAP-Taxscan.jpg)
![ITAT Quashes Re-Assessment Order against BSNL [Read Order] ITAT Quashes Re-Assessment Order against BSNL [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-Re-Assessment-BSNL-Re-Assessment-Order-Income-Tax-Tax-Taxscan.jpg)