![ITAT Annual Digest [Part-34]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Tax-tribunal-updates-ITAT-decisions-Key-tax-judgments-2023-ITAT-Cases-ITAT-TAXSCAN.jpg "ITAT Annual Digest [Part-34]")
ITAT Annual Digest [Part-34]
This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in No Addition on Unexplained Income received as Gift from...
![Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-on-Actual-cost-imposition-of-Tax-Deduction-amount-received-from-Sale-of-land-ITAT-directs-fresh-Adjudication-Sale-of-land-taxscan.jpg "Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]")
![Notice issued by AO in aware of Non-existence of assessee-company on account of Amalgamation stands Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Notice-AO-Non-existence-of-assessee-Non-existence-of-assessee-company-on-account-of-Amalgamation-stands-Invalid-ITAT-taxscan.jpg "Notice issued by AO in aware of Non-existence of assessee-company on account of Amalgamation stands Invalid: ITAT [Read Order]")
![No Penalty u/s 271D of Income Tax Act in the Absence of Assessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Act-No-Penalty-Absence-of-Assessment-Proceedings-ITAT-Income-Tax-Assessment-Proceedings-taxscan.jpg "No Penalty u/s 271D of Income Tax Act in the Absence of Assessment Proceedings: ITAT [Read Order]")
![Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repetition-of-Addition-Addition-Income-Tax-Addition-Repetition-of-Addition-by-AO-AO-Non-Compliance-to-Order-Verification-ITAT-deletes-Addition-ITAT-taxscan.jpg "Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]")
Mere Mistake in Form 35 does not result in Deficient Appeal: ITAT grants another Opportunity to rectify Mistake [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) held that the mere mistake in form 35 does not result in a deficient appeal hence allowed one more opportunity to the assessee to rectify...
![Mere Mistake in Form 35 does not result in Deficient Appeal: ITAT grants another Opportunity to rectify Mistake [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Mere-Mistake-Appeal-Mere-Mistake-in-Form-35-does-not-result-in-Deficient-Appeal-ITAT-taxscan.jpg "Mere Mistake in Form 35 does not result in Deficient Appeal: ITAT grants another Opportunity to rectify Mistake [Read Order]")
Excess cash found during course of Survey shall not be taxed under head of Business Income attracts Higher Tax Rate u/s 115BBE of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Indore bench held that excess cash found during course of survey should not be taxed under head of business income .Therefore it would attract higher...
![Excess cash found during course of Survey shall not be taxed under head of Business Income attracts Higher Tax Rate u/s 115BBE of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Excess-cash-Excess-cash-found-during-course-of-Survey-course-of-Survey-Excess-cash-found-during-course-of-Survey-shall-not-be-taxed-under-head-of-Business-income-Attracts-Higher-tax-rate-taxscan.jpg "Excess cash found during course of Survey shall not be taxed under head of Business Income attracts Higher Tax Rate u/s 115BBE of Income Tax Act: ITAT [Read Order]")
Subsidy received under Industrial Promotion Scheme of Madhya Pradesh is Revenue in Nature: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Indore bench held that subsidies received under Industrial promotion scheme is revenue in nature. The subsidies are provided to assessee for initial support...
![Subsidy received under Industrial Promotion Scheme of Madhya Pradesh is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Subsidy-Industrial-Promotion-Scheme-Madhya-Pradesh-Subsidy-received-under-Industrial-Promotion-Scheme-of-Madhya-Pradesh-taxscan.jpg "Subsidy received under Industrial Promotion Scheme of Madhya Pradesh is Revenue in Nature: ITAT [Read Order]")
Subsidies received from Government of Maharashtra under Package Scheme Incentive is Capital Receipt: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Indore bench held that subsidies received from the government of Maharashtra under package scheme incentive is capital receipt. The decision was based on...
![Subsidies received from Government of Maharashtra under Package Scheme Incentive is Capital Receipt: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Subsidies-Government-Maharashtra-Package-Schem-e-Incentive-Capital-Receipt-ITAT-TAXSCAN.jpg "Subsidies received from Government of Maharashtra under Package Scheme Incentive is Capital Receipt: ITAT deletes Addition [Read Order]")
Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Indore bench held that Section 115BBE of the Income Tax Act, 1961 is not applicable on surrendered income on account of excess stock found during the course...
![Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Section-115BBE-of-Income-Tax-Act-Income-Tax-Act-Surrendered-Income-Surrendered-Income-on-account-of-Excess-Stock-Income-account-of-Excess-Stock-ITAT-taxscan.jpg "Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]")
Disallowance made by AO on ground of Utilisation of Expenses for Non Business Purposes : ITAT Directs Re-adjudication [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the disallowance made on the ground of utilization of expenses for personal use or...
![Disallowance made by AO on ground of Utilisation of Expenses for Non Business Purposes : ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Disallowance-Income-Tax-AO-Utilisation-of-Expenses-Utilisation-Expenses-Non-Business-Purposes-ITAT-Directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Disallowance made by AO on ground of Utilisation of Expenses for Non Business Purposes : ITAT Directs Re-adjudication [Read Order]")
Assessment Order passed without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the assessment order passed without giving the sufficient opportunity of hearing to the...
![Assessment Order passed without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessment-Order-Sufficient-Opportunity-to-Assessee-Sufficient-Opportunity-Assessee-ITAT-Directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Assessment Order passed without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]")