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![Cash Loan from Father’s Proprietary Concern does not attract S. 269SS and Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cash-Loan-Penalty-ITAT-taxscan.jpg "Cash Loan from Father’s Proprietary Concern does not attract S. 269SS and Penalty: ITAT [Read Order]")
Cash Loan from Father’s Proprietary Concern does not attract S. 269SS and Penalty: ITAT [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) consisting of Shri Waseem Ahmed (Accountant Member) and Shri Siddhartha Nautiyal...
![No TDS required since Sec 172 of the Income Tax Act does not cover Payments to Non-Resident for Time Charter: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/TDS-Income-Tax-Act-cover-payments-Non-Resident-for-Time-Charter-ITAT-Taxscan.jpg "No TDS required since Sec 172 of the Income Tax Act does not cover Payments to Non-Resident for Time Charter: ITAT [Read Order]")
![Penalty under Wealth Tax Act can’t be levied without any specific findings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Penalty-Wealth-Tax-Act-ITAT-Taxscan.jpeg "Penalty under Wealth Tax Act can’t be levied without any specific findings: ITAT [Read Order]")
![Interest Expenses claimed by Partners relating to their Professional Activities are allowed Expenses: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Interest-Expenses-partners-relating-professional-activities-allowed-expenses-ITAT-Taxscan.jpg "Interest Expenses claimed by Partners relating to their Professional Activities are allowed Expenses: ITAT deletes Addition [Read Order]")
![Reassessment Order under Sec 143(3) rws 147 without Notice is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Reassessment-Taxscan.jpg "Reassessment Order under Sec 143(3) rws 147 without Notice is Invalid: ITAT [Read Order]")
Note Books and Diaries seized from Wife of the Assessee can’t be treated as Books of Accounts: ITAT Deletes Addition [Read Order]
Rajkot bench of Income Tax Appellate Tribunal (ITAT) recently held that the notebooks and diaries found from assessee’s wife cannot be treated as Books of Accounts for the purpose of making addition...
![Note Books and Diaries seized from Wife of the Assessee can’t be treated as Books of Accounts: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Assessing-Officer-ITAT-Taxscan.jpg "Note Books and Diaries seized from Wife of the Assessee can’t be treated as Books of Accounts: ITAT Deletes Addition [Read Order]")
![No Penalty when Income of Assessee is determined on an Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "No Penalty when Income of Assessee is determined on an Estimate Basis: ITAT [Read Order]")
Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Rajkot bench, while allowing the assessees’ appeal, held that the sale of land cannot be treated as business activity for the purpose of levying income tax even...
![Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Sale-of-Land-Taxscan.jpg "Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]")
ITAT allows Bank’s Claim for Deduction towards Amortization of Security Premium under ‘HTM Category’ [Read Order]
In ACIT v. Rajkot Nagrik Sahkari Bank Ltd., the ITAT Rajkot allowed the assessees’ claim towards amortization of security premium “Held To Maturity (HTM) Category” on the basis of the decision of the...
![ITAT allows Bank’s Claim for Deduction towards Amortization of Security Premium under ‘HTM Category’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Amortization-of-Security-Premium.jpg "ITAT allows Bank’s Claim for Deduction towards Amortization of Security Premium under ‘HTM Category’ [Read Order]")