![AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/bogus-Transactions-LTCG-Penny-Stock-Companies-Penny-Stock-ITAT-Revisional-Order-enquire-taxscan.jpg "AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]")
AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the revisional order when the Assessing Officer (AO) failed to enquire about...
![Income Tax Authorities should Charge Legitimate Taxes from Taxpayers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Authorities-Charge-Legitimate-Taxes-Taxpayers-ITAT-Taxscan.jpg "Income Tax Authorities should Charge Legitimate Taxes from Taxpayers: ITAT [Read Order]")
![LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LTCG-for-Sale-of-Equity-Shares-as-Bogus-Income-Tax-Act-ITAT-confirms-Income-Tax-Addition-TAXSCAN.jpg "LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]")
![Addition of Unexplained Credit based on bogus LTCG on Sale of Penny Stock without Cogent evidence is not valid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Addition-of-Unexplained-Credit-Addition-Unexplained-bogus-LTCG-bogus-LTCG-Sale-of-Penny-Stock-penny-stock-Cogent-evidence-Delhi-HC-taxscan.jpg "Addition of Unexplained Credit based on bogus LTCG on Sale of Penny Stock without Cogent evidence is not valid: Delhi HC [Read Order]")
![Once Exemption claimed on LTCG by Co-Owner has been accepted, then Capital Gain Exemption u/s 54 allowable for assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/claimed-LTCG-co-owner-Capital-Gain-Exemption-ITAT-taxscan.jpg "Once Exemption claimed on LTCG by Co-Owner has been accepted, then Capital Gain Exemption u/s 54 allowable for assessee: ITAT [Read Order]")
Income Tax Assessment u/s 153A Solely based on Pen Drive Recovered from Employee is Invalid: ITAT quashes Protective Assessment [Read Order]
In a significant ruling, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the assessment under section 153A of the Income Tax Act, 1961 made solely based on the pen drive...
![Income Tax Assessment u/s 153A Solely based on Pen Drive Recovered from Employee is Invalid: ITAT quashes Protective Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Assessment-Pen-Drive-Recovered-Employee-ITAT-Assessment-TAXSCAN.jpg "Income Tax Assessment u/s 153A Solely based on Pen Drive Recovered from Employee is Invalid: ITAT quashes Protective Assessment [Read Order]")
![Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Sale-Deed-Registration-ITAT-Income-Tax-Addition-LTCG-taxscan.jpg "Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]")
Non-Compliance with Notice issued as Assessee not well versed with Electronic Gadgets: ITAT restores to CIT(A) [Read Order]
The Non-compliance with the notice issued for hearing, as the assessee is not well versed with electronic gadgets, the Surat Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter for...
![Non-Compliance with Notice issued as Assessee not well versed with Electronic Gadgets: ITAT restores to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Notice-issued-Assessee-Electronic-Gadgets-ITAT-restores-CITA-TAXSCAN-1.jpeg "Non-Compliance with Notice issued as Assessee not well versed with Electronic Gadgets: ITAT restores to CIT(A) [Read Order]")
ITAT upholds Revisional Order on Ground of LTCG Exemption on STT Paid without Verification [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench, has recently, in an appeal filed before it upheld the revisional order on the ground of LTCG exemption on STT payment without verification. ...
![ITAT upholds Revisional Order on Ground of LTCG Exemption on STT Paid without Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Revisional-Order-LTCG-STT-taxscan.jpg "ITAT upholds Revisional Order on Ground of LTCG Exemption on STT Paid without Verification [Read Order]")
Advance given to Subsidiary Company for the Purpose of Business to be allowed as Loss Incidental to Business: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench, has, in a recent appeal filed before it, held that advance given to a subsidiary company for the purpose of business is to be allowed as...
![Advance given to Subsidiary Company for the Purpose of Business to be allowed as Loss Incidental to Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Advance-Subsidiary-Company-Loss-Business-ITAT.jpg "Advance given to Subsidiary Company for the Purpose of Business to be allowed as Loss Incidental to Business: ITAT [Read Order]")
Addition made under LTCG: ITAT directs De Novo Adjudication for Non-Consideration of Report by DVO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench Addition directs de novo adjudication for non-consideration of report by Department Valuation Officer (DVO) in respect of addition made under...
![Addition made under LTCG: ITAT directs De Novo Adjudication for Non-Consideration of Report by DVO [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/LTCG-ITAT-DVO-taxscan.jpeg "Addition made under LTCG: ITAT directs De Novo Adjudication for Non-Consideration of Report by DVO [Read Order]")