![Purchases reflected in Book of Accounts cannot be treated as Unexplained Investment: ITAT sets aside Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Purchases-reflected-in-Book-of-Accounts-Purchases-Book-of-Accounts-Unexplained-Investment-Investment-ITAT-sets-aside-Order-of-CITA-ITAT-Taxscan.jpg "Purchases reflected in Book of Accounts cannot be treated as Unexplained Investment: ITAT sets aside Order of CIT(A) [Read Order]")
Purchases reflected in Book of Accounts cannot be treated as Unexplained Investment: ITAT sets aside Order of CIT(A) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the purchases reflected in the books of accounts cannot be treated as...
![Receipts from sale of offshore supply of train not Taxable in India as transfer of title over Goods taken place outside India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Receipts-from-sale-sale-of-offshore-supply-offshore-supply-train-Taxable-ITAT-Taxscan.jpg "Receipts from sale of offshore supply of train not Taxable in India as transfer of title over Goods taken place outside India: ITAT [Read Order]")
![ITAT upholds addition made u/s 69C of Income Tax Act on Payment Received from sale of shares of paper company barred by SEBI [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-ITAT-upholds-addition-Income-Tax-Act-Income-Tax-Payment-Received-from-sale-of-shares-Payment-Received-Payment-sale-of-shares-SEBI-taxscan.jpg "ITAT upholds addition made u/s 69C of Income Tax Act on Payment Received from sale of shares of paper company barred by SEBI [Read Order]")
![Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Act-shall-not-be-made-on-basis-of-ledger-account-seized-from-third-party-absence-of-clinching-evidence-of-Cash-Payments-towards-purchase-of-Flat-ITAT-TAXSCAN.jpg "Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]")
![Foreign Tax Credit cannot be Denied for Technicality of not Filing Form 67 within Due Date of Return u/s 139(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Foreign-Tax-Credit-Foreign-Tax-Tax-Credit-Filing-Form-67-within-Due-Date-of-Return-Filing-Form-67-Due-Date-of-Return-Due-Date-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Foreign Tax Credit cannot be Denied for Technicality of not Filing Form 67 within Due Date of Return u/s 139(1) of Income Tax Act: ITAT [Read Order]")
![Assessment Order in Name of Non-existing Entity is Void: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Assessment-Order-Name-of-Non-existing-Entity-is-Void-ITAT-TAXSCAN.jpg "Assessment Order in Name of Non-existing Entity is Void: ITAT [Read Order]")
Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that the sale proceeds of shares credited in bank accounts entered in the book of accounts could not be treated as unexplained cash...
![Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Sale-proceeds-of-shares-credited-Bank-Account-entered-in-book-of-accounts-treated-as-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Sale Proceeds of Shares Credited in Bank Account Entered in Book of Accounts cannot be Treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
No Reassessment of Income if Incriminating Articles Against Any "Other Person" is Found During Search Other Than Person Being Searched: ITAT [Read Order]
Quashing the Income Tax addition, the Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that no reassessment of income under Section 147 of the Income Tax Act 1961 can be allowed if...
![No Reassessment of Income if Incriminating Articles Against Any Other Person is Found During Search Other Than Person Being Searched: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Reassessment-of-Income-if-Incriminating-Articles-Reassessment-Income-Other-Person-Incriminating-Articles-ITAT-Taxscan-1.jpg "No Reassessment of Income if Incriminating Articles Against Any Other Person is Found During Search Other Than Person Being Searched: ITAT [Read Order]")
Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed Commissioner of Income Tax Appeals (CIT(A)) re-adjudication holding that the debts claimed would be allowable only if nexus with...
![Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Debts-Claim-Allowable-Debts-Claim-Claim-Debts-Nexus-Carrying-on-of-Business-or-Trade-is-Established-Business-Trade-ITAT-Directs-CITA-Re-adjudication-ITAT-CITA-Re-adjudication-Taxscan.jpg "Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]")
Failure by Authorities to provide necessary Documents Results in Denial of Justice: ITAT directs AO to provide Requisite Documents to Assessee for Reasonable Opportunity [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) restored the file back to the Assessing Officer (AO) with the direction to provide the requisite documents as asked for the Assessee and a...
![Failure by Authorities to provide necessary Documents Results in Denial of Justice: ITAT directs AO to provide Requisite Documents to Assessee for Reasonable Opportunity [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-by-Authorities-to-provide-necessary-Documents-results-in-denial-of-Justice-ITAT-AO-requisite-documents-to-Assessee-for-reasonable-opportunity-TAXSCAN.jpg "Failure by Authorities to provide necessary Documents Results in Denial of Justice: ITAT directs AO to provide Requisite Documents to Assessee for Reasonable Opportunity [Read Order]")
![Charitable Activities of trust not to be confined to particular caste: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Charitable-Activities-of-trust-confined-to-particular-caste-ITAT-readjudication-TAXSCAN.jpg "Charitable Activities of trust not to be confined to particular caste: ITAT directs Readjudication [Read Order]")
Services Rendered by Indian Company to Non-Resident Assessee on Principal to Principal basis based on Canvasser Agent Agreement not taxable in India: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the services rendered by Indian Company to non-resident assessee on principal-to-principal basis based on Canvasser Agent...
![Services Rendered by Indian Company to Non-Resident Assessee on Principal to Principal basis based on Canvasser Agent Agreement not taxable in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Services-Rendered-by-Indian-Company-to-Non-Resident-Assessee-on-Principal-to-Principal-Canvasser-Agent-Agreement-taxable-in-India-ITAT-TAXSCAN.jpg "Services Rendered by Indian Company to Non-Resident Assessee on Principal to Principal basis based on Canvasser Agent Agreement not taxable in India: ITAT [Read Order]")