![Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Taxability-Agricultural-Land-assessee-ITAT-taxscan.jpg "Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]")
Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that the assessing officer passed the assessment order without ...
![Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Consideration-Evidence-Deduction-Claim-Capital-Gains-Exemption-Sale-of-Agricultural-Land-ITAT-remands-Matter-AO-taxscan.jpg "Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]")
![Failure to prove the Interest bearing Funds being used for Investments giving rise to exempt Income: ITAT directs Re-computation of Disallowance under Rule 8D(2)(iii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-prove-interest-bearing-funds-investments-rise-exempt-income-ITAT-directs-re-computation-disallowance-taxscan.jpg "Failure to prove the Interest bearing Funds being used for Investments giving rise to exempt Income: ITAT directs Re-computation of Disallowance under Rule 8D(2)(iii) [Read Order]")
![ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-penalty-ITAT-deletes-impugned-penalty-on-grounds-of-there-being-sufficient-failure-to-upload-return-of-income-electronically-return-of-income-income-electronically-taxscan.jpg "ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]")
![Services Rendered by Non-resident Agent for completion of Export Commitment would not be Fee for Technical Services: ITAT directs Re-computation under Partly allowed Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Services-Services-rendered-by-non-resident-agent-non-resident-agent-export-commitment-technical-services-ITAT-taxscan.jpg "Services Rendered by Non-resident Agent for completion of Export Commitment would not be Fee for Technical Services: ITAT directs Re-computation under Partly allowed Appeal [Read Order]")
Satisfaction note is Mandatory Requirement in case of Searched Person before Acquiring Jurisdiction u/s 153C of Income Tax Act: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the satisfaction note has been a mandatory requirement in case of a searched person before acquiring jurisdiction under Section...
![Satisfaction note is Mandatory Requirement in case of Searched Person before Acquiring Jurisdiction u/s 153C of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Satisfaction-Mandatory-Requirement-in-case-of-Searched-Person-Acquiring-Jurisdiction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Satisfaction note is Mandatory Requirement in case of Searched Person before Acquiring Jurisdiction u/s 153C of Income Tax Act: ITAT [Read Order]")
No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that no addition could be made on the value of purchase of lands that are recorded in the books of account of assessee. Assessee, Om...
![No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/value-of-purchase-of-lands-purchase-of-lands-addition-Books-of-Account-of-Assessee-Books-of-Account-Assessee-taxscan.jpg "No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]")
Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench quashed the application of maximum marginal rate on the trust with known beneficiaries and directed it to apply individual rate upon return of...
![Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Application-of-Maximum-Marginal-Rate-on-Trust-Beneficiaries-ITAT-Rates-TAXSCAN.jpg "Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]")
Agricultural Income not to be Treated as Unaccounted Income u/s 68 of Income Tax Act if No Incriminating Materials to Show Income Belongs to Assessee: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) stated that there is nothing on record which would show that any incriminating material was found during search operation which would...
![Agricultural Income not to be Treated as Unaccounted Income u/s 68 of Income Tax Act if No Incriminating Materials to Show Income Belongs to Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Agricultural-Income-Treated-Unaccounted-Income-Income-Tax-Act-Incriminating-Materials-Show-Income-Assessee-ITAT-TAXSCAN.jpg "Agricultural Income not to be Treated as Unaccounted Income u/s 68 of Income Tax Act if No Incriminating Materials to Show Income Belongs to Assessee: ITAT [Read Order]")
Retained Amount from Security Deposit of leased housing property due to cancellation of Lease Deed is assessable under head ‘Income from House Property’: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that the retained amount from security deposit of leased housing property due to the cancellation of lease deed is assessable under the...
![Retained Amount from Security Deposit of leased housing property due to cancellation of Lease Deed is assessable under head ‘Income from House Property’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Retained-amount-from-Security-Deposit-of-leased-housing-property-due-to-cancellation-of-Lease-income-from-House-Property-ITAT-TAXSCAN.jpg "Retained Amount from Security Deposit of leased housing property due to cancellation of Lease Deed is assessable under head ‘Income from House Property’: ITAT [Read Order]")
Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that extraction of minerals from beach sand involve change in non-living physical object / article into a new and distinct object /...
![Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Extraction-Minerals-Beach-sand-Manufacturing-Process-Income-Tax-Act-ITAT-Income-Tax-Deduction-TAXSCAN.jpg "Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]")
No Separate Agreement between Eshakthi and its Non-Resident US Subsidiary for Reimbursement of Expenses: ITAT Upholds Deletion of Disallowance u/s 40(a)(i) of Income Tax Act [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance under Section 40(a)(i) of the Income Tax Act 1961, as there was no separate agreement between the Eshakthi and...
![No Separate Agreement between Eshakthi and its Non-Resident US Subsidiary for Reimbursement of Expenses: ITAT Upholds Deletion of Disallowance u/s 40(a)(i) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Separate-Agreement-ITAT-No-Separate-Agreement-between-Eshakthi-and-its-Non-Resident-US-disallowance-taxscan.jpg "No Separate Agreement between Eshakthi and its Non-Resident US Subsidiary for Reimbursement of Expenses: ITAT Upholds Deletion of Disallowance u/s 40(a)(i) of Income Tax Act [Read Order]")