![Share Transaction cant be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Share-Transaction-Bogus-Statement-of-Broker-Accommodation-Entries-ITAT-deletes-TAXSCAN.jpg "Share Transaction cant be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]")
Share Transaction can't be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition under Section 69C of the Income Tax Act, 1961, and held that the...
![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]")
![No Retrospective Effect on Amendment  under S. 54 of Income Tax Act Restricting Investment In India: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Retrospective-Effect-on-Amendment-Income-Tax-Act-Investment-In-India-Bombay-Highcourt-taxscan.jpeg "No Retrospective Effect on Amendment  under S. 54 of Income Tax Act Restricting Investment In India: Bombay HC [Read Order]")
![AO is Duty Bound to Specify the Defects in Books of Account before Rejection u/s 145(3) of Income Tax Act: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Duty-Bound-Books-of-Account-Income-Tax-Act-Income-Tax-ITAT-Deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Taxscan.jpg "AO is Duty Bound to Specify the Defects in Books of Account before Rejection u/s 145(3) of Income Tax Act: ITAT deletes Income Tax Addition [Read Order]")
![Partnership Firm not entitled to Tax Deduction on LTCG u/s 48(i) of Income Tax Act for Mortgaging Property as Collateral Security: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Partnership-Firm-not-entitled-to-Tax-Deduction-on-LTCG-Income-Tax-Act-Tax-Deduction-on-LTCG-Mortgaging-Property-Collateral-Security-ITAT-Tax-Deduction-Partnership-Firm-taxscan.jpg "Partnership Firm not entitled to Tax Deduction on LTCG u/s 48(i) of Income Tax Act for Mortgaging Property as Collateral Security: ITAT [Read Order]")
No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 27(1)(C) of the Income Tax Act, 1961 as there was no concealment of particulars and filing of...
![No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Concealment-Inaccurate-Particulars-of-Income-Particulars-of-Income-ITAT-deletes-Penalty-ITAT-Penalty-Income-Tax-Act-taxscan.jpg "No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]")
No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]
The High Court of Gujarat quashed the reassessment order as there was no income escapement when the assessee paid Short Term Capital Gain (STCG) and Long Term Capital Gain (LTCG). During the year...
![No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Escapment-Assessee-paid-STCG-and-LTCG-STCG-and-LTCG-LTCG-Gujarat-High-Court-Gujarat-High-Court-quashes-Reassessment-Order-Reassessment-Order-taxscan.jpg "No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]")
Claim of LTCG Not Allowable when Transactions of Transfer of Land does not Falls Within Ambit of Section 45 of Income Tax Act : ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the claim of Long Term Capital Gain (LTCG) was not allowable when the transaction of transfer of land does not fall within...
![Claim of LTCG Not Allowable when Transactions of Transfer of Land does not Falls Within Ambit of Section 45 of Income Tax Act : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Claim-LTCG-Allowable-Transactions-Transfer-Land-Ambit-Income-Tax-Act-TAXSCAN.jpg "Claim of LTCG Not Allowable when Transactions of Transfer of Land does not Falls Within Ambit of Section 45 of Income Tax Act : ITAT [Read Order]")
Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the order of the assessing officer (AO) for rejecting the claim of long-term capital gain (LTCG) under section 10(38) of the...
![Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-LTCG-Income-Tax-Act-Rejected-due-Non-submission-Documents-ITAT-TAXSCAN.jpg "Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]")
Maintenance & Electricity Charges not in the form of Deposits excluded from Cost of Property for computing LTCG: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that the revenue expenditures incurred by the assessee such as maintenance and electricity charges which are not in the form of any...
![Maintenance & Electricity Charges not in the form of Deposits excluded from Cost of Property for computing LTCG: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Maintenance-and-Electricity-Charges-Deposits-Cost-of-Property-for-computing-LTCG-Cost-of-Property-LTCG-ITAT-taxscan.jpg "Maintenance & Electricity Charges not in the form of Deposits excluded from Cost of Property for computing LTCG: ITAT [Read Order]")
Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]
The Cuttack bench of Income Tax Appellate (ITAT) held that the claim of exemption under section 10(38) of Income Tax Act, 1961 for the long term capital gain from the sale of equity shares before the...
![Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/for-LTCG-from-sale-of-equity-shares-before-assessment-proceedings-is-valid-ITAT-TAXSCAN.jpg "Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]")
No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]
The New Delhi bench of Income Tax Appellate Tribunal(ITAT) held that addition of long term capital gain can be made by the assessing officer under Section 69A of Income Tax Act, 1961 on account of...
![No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-addition-of-LTCG-account-of-alleged-unexplained-investment-in-jewellery-ITAT-TAXSCAN.jpg "No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]")