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![Sale made out of Opening Stock can’t be treated as Unexplained Income to be taxed as Income from Other Sources: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/11/Sale-opening-stock-unexplained-income-income-Delhi-High-Court-Taxscan.jpeg "Sale made out of Opening Stock can’t be treated as Unexplained Income to be taxed as Income from Other Sources: Delhi HC [Read Judgment]")
Sale made out of Opening Stock can’t be treated as Unexplained Income to be taxed as Income from Other Sources: Delhi HC [Read Judgment]
The High Court while dismissing the appeal filed by the revenue held that the sale made out of opening stock can not be treated as unexplained income...
![Income Tax Returns: CBDT issues revised instructions for filing of ITR-2, 3, 5, 6 & 7 for better clarity [Read Instructions]](https://www.taxscan.in/wp-content/uploads/2020/11/Income-Tax-Department-revised-instructions-filing-of-ITR-Taxscan.jpg "Income Tax Returns: CBDT issues revised instructions for filing of ITR-2, 3, 5, 6 & 7 for better clarity [Read Instructions]")
![CBDT releases instructions for filing of ITR forms for AY 2020-21 [Read Instructions]](https://www.taxscan.in/wp-content/uploads/2020/10/CBDTreleases-instructionsfiling-ITR-formsAY-2020-21.jpg "CBDT releases instructions for filing of ITR forms for AY 2020-21 [Read Instructions]")
![CBDT again extends due date for the filing of Income Tax Return for AY 2019-20 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/09/CBDT-Income-Tax-Return-Taxscan.jpg "CBDT again extends due date for the filing of Income Tax Return for AY 2019-20 [Read Notification]")
![RBI clarifies New criteria for classifying MSME [Read Circular]](https://www.taxscan.in/wp-content/uploads/2020/08/RBI-MSME-Taxscan.jpg "RBI clarifies New criteria for classifying MSME [Read Circular]")
ITAT quashes levy of Penalty by AO for not Auditing Books of Accounts/ furnishing Report of Audit of Books of Accounts on due date of filing ITR
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed the levy of penalty by Assessing Officer (AO) for not auditing books of accounts/ furnishing reports of the audit of books of...
