![Weight of Diamond shall be Excluded to Determine Gross Weight of Jewellery Seized by Income Tax Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Weight-of-Diamond-Weight-of-Diamond-shall-be-Excluded-to-Determine-Gross-Weight-Gross-Weight-Gross-Weight-of-Jewellery-taxscan.jpg "Weight of Diamond shall be Excluded to Determine Gross Weight of Jewellery Seized by Income Tax Dept: ITAT [Read Order]")
Weight of Diamond shall be Excluded to Determine Gross Weight of Jewellery Seized by Income Tax Dept: ITAT [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the weight of diamonds should be excluded to determine the gross weight of...
![Recognition u/s 80G of Income Tax Act shall not be granted without completing Registration of Trust: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Recognition-Income-Tax-Act-Income-Tax-Act-shall-not-be-granted-without-completing-Registration-of-Trust-taxscan.jpg "Recognition u/s 80G of Income Tax Act shall not be granted without completing Registration of Trust: ITAT directs Re-adjudication [Read Order]")
![Mere Suspicion Not Enough for Income Tax Dept to make Additions to Taxpayers Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Suspicion-Suspicion-Income-Tax-Mere-Suspicion-Not-Enough-for-Income-Tax-Dept-taxscan.jpg "Mere Suspicion Not Enough for Income Tax Dept to make Additions to Taxpayers Income: ITAT [Read Order]")
![Plea for Deduction of Professional and Salary Expenses u/s 201 of Income Tax Act: ITAT Condones Delay of 85 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Plea-for-Deduction-of-Professional-and-Salary-Expenses-Income-Tax-Act-ITAT-Condones-Delay-TAXSCAN.jpg "Plea for Deduction of Professional and Salary Expenses u/s 201 of Income Tax Act: ITAT Condones Delay of 85 Days [Read Order]")
Internet Subscription Expenses incurred for members of Housing Society are not eligible for Deduction u/s 57 of Income Tax Act: ITAT [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the Internet subscription expenses incurred for members of housing society are not eligible for deduction under...
![Internet Subscription Expenses incurred for members of Housing Society are not eligible for Deduction u/s 57 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Internet-Subscription-Expenses-incurred-for-members-of-Housing-Society-are-not-eligible-for-Deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Internet Subscription Expenses incurred for members of Housing Society are not eligible for Deduction u/s 57 of Income Tax Act: ITAT [Read Order]")
Books of Account not Liable to be Audited when Turnover of Business less than Threshold Limit u/s 44AB of Income Tax Act: ITAT deletes Penalty [Read Order]
The Surat bench of the Income Tax Appellate Tribunal (ITAT) held that the books of Account were not liable to be audited when the turnover of the business is less than the threshold limit under...
![Books of Account not Liable to be Audited when Turnover of Business less than Threshold Limit u/s 44AB of Income Tax Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Books-of-Account-not-Liable-to-be-Audited-when-Turnover-of-Business-less-than-Threshold-Limit-Books-of-Account-Income-Tax-Act-ITAT-Penalty-Taxscan-1.jpg "Books of Account not Liable to be Audited when Turnover of Business less than Threshold Limit u/s 44AB of Income Tax Act: ITAT deletes Penalty [Read Order]")
Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]
The Surat Bench of Income Tax Appellate Tribunal ( ITAT) held that the penalty under Section 271(1)(b) of the Income Tax Act could not be levied after condonation of delay when an assessment has been...
![Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Condonation-of-Delay-Condonation-of-Delay-due-to-Covid-ITAT-deletes-Penalty-ITAT-Penalty-Taxscan.jpg "Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]")
Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Surat Bench, has recently, in an appeal filed before it, held that section 56(2) (vii) is not applicable to individual receiving sum from HUF as its member. ...
![Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Section-562vii-not-Applicable-to-Individual-Receiving-Sum-from-HUF-as-its-Member-ITAT-TAXSCAN.jpg "Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]")
Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the fair market value determined by the registered valuers for the purpose of computation of taxable value should not be ignored....
![Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Fair-market-value-determined-by-registered-valuers-for-computation-of-taxable-value-should-not-be-ignored-ITAT-TAXSCAN.jpg "Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]")
Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has quashed the disproportionate addition towards co-owners of land as the booking advances were treated as unexplained cash credits. The...
![Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Treatment-of-Booking-Advances-Unexplained-Cash-Credits-ITAT-quashes-Disproportionate-Addition-Addition-ITAT-Co-Owners-of-Land-Income-Tax-taxscan.jpg "Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]")
Section 115BBE not applicable to Undisclosed Assets Deposited in Bank Post-Demonetization when Assets found in premises prior to Demonetization: ITAT
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that Section 115BBE of the Income Tax Act 1961 would not be applicable as the undisclosed assets deposited in the bank accounts in the...
