![Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Notional-Income-Income-Interest-Free-Loans-Interest-Loans-taxable-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]")
Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal( ITAT ) has held that notional income from interest-free loans is not taxable in the absence of...
![Non Participation in Income Tax Assessment Proceedings Due to Disputes Between Partners: ITAT deletes Penalty u/s 271(1)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessment-Disputes-Partners-ITAT-Penalty-taxscan.jpg "Non Participation in Income Tax Assessment Proceedings Due to Disputes Between Partners: ITAT deletes Penalty u/s 271(1)(b) [Read Order]")
![Revision u/s 263 on Ground of Failure to Collect TCS Invalid during Pendency of First Appeal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Revision-TCS-Appeal-ITAT-taxscan.jpg "Revision u/s 263 on Ground of Failure to Collect TCS Invalid during Pendency of First Appeal: ITAT [Read Order]")
![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]")
![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]
While deleting the addition, the Income Tax Appellate Tribunal (ITAT) Rajkot Bench has ruled that, Interest Expenses claimed by partners relating to their professional activities are allowed...
![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]")
Contractors performing work in the nature of Developer-cum-Contractor eligible for Deduction u/s 80A even after Amendment: ITAT
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has held that the contractors performing the work in the nature of a developer-cum-contractor are still eligible to claim deduction under...
![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]")