![Advance received against booking of flats are not Unexplained Amount: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Advance-booking-of-flats-Unexplained-Amount-ITAT-TAXSCAN.jpg "Advance received against booking of flats are not Unexplained Amount: ITAT deletes Addition [Read Order]")
Advance received against booking of flats are not Unexplained Amount: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench, held that advances received against booking of flats are not an unexplained amount....
![Exemption u/s 10(23B) of Income Tax Act cannot be denied for Mere Technical Violation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Exemption-Under-Section-1023B-ITAT-Income-Tax-Act-Income-Tax-Mere-Technical-Violation-Technical-Violation-TAXSCAN.jpg "Exemption u/s 10(23B) of Income Tax Act cannot be denied for Mere Technical Violation: ITAT [Read Order]")
![ALV of Vacant Property in Unsold Flats form held as Stock-in-Trade and Remained Vacant during year is NIL: ITAT allows Vacancy allowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Vacant-Property-Unsold-Flats-Stock-in-Trade-Remained-Vacant-ITAT-taxscan.jpg "ALV of Vacant Property in Unsold Flats form held as Stock-in-Trade and Remained Vacant during year is NIL: ITAT allows Vacancy allowance [Read Order]")
![LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/LTCG-Sale-of-Equity-Share-Penny-Stock-Companies-BSE-not-eligible-exemption-I.T-Act-ITAT-taxscan.jpg "LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]")
ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) confirms the Income Tax addition under Section 68 of the Income Tax Act, 1961 in the absence of evidence proving the unsubstantial...
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the unsecured loans and share application money could not be bogus in the absence of evidence as to identity and...
![Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Loans-Share-Application-Money-Bogus-Absence-Evidence-Identity-Creditworthiness-Creditors-Genuineness-Transaction-ITAT-TAXSCAN.jpg "Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]")
Amenities provided to Tenants of House Property Compute under head of Income from House Property: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that amenities provided to tenants of house property compute under the head of Income from House Property.Therefore the bench deleted...
![Amenities provided to Tenants of House Property Compute under head of Income from House Property: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Amenities-Amenities-provided-to-tenants-tenants-house-property-ITAT-taxscan.jpg "Amenities provided to Tenants of House Property Compute under head of Income from House Property: ITAT deletes Addition [Read Order]")
Section 43CA of Income Tax Act not Applicable to Sale Agreement Entered Before 1.4.2014: ITAT deletes Addition [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding that Section 43CA of the Income Tax Act 1961 would not apply to the sale agreement entered before 1.4.2014. ...
![Section 43CA of Income Tax Act not Applicable to Sale Agreement Entered Before 1.4.2014: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Section-Income-Tax-Act-Applicable-Sale-Agreement-ITAT-taxscan.jpg "Section 43CA of Income Tax Act not Applicable to Sale Agreement Entered Before 1.4.2014: ITAT deletes Addition [Read Order]")
Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that expenses incurred for repairing machines for the running of petrol pump business are revenue in nature. Akram Hossain Mullick, the...
![Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Expenses-incurred-for-repairing-machines-repairing-machines-running-petrol-pump-business-are-revenue-nature-ITAT-deletes-penalty-petrol-pump-business-taxscan.jpg "Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]")
CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Society's Claim [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the Central Processing Centre (CPC) was not within its jurisdiction to disallow a deduction claimed by a West Bengal...
![CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Societys Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/CPC-CPC-not-within-Jurisdiction-Jurisdiction-Disallow-Deduction-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Societys Claim [Read Order]")