![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]")
ITAT deletes Impugned Penalty on grounds of there being Sufficient Cause u/s 273 for failure to upload return of Income Electronically [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that depending on auditor for uploading of the return along with return of income,...
![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]](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]](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]](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]")
Section 269SS not applicable when Substantial Sale Consideration of Immovable property is evidenced by registered agreement: ITAT deletes Penalty u/s 271D [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that Sale transaction evidenced by registered agreement prevents implementation of Section 269SS from curbing black money The...
![Section 269SS not applicable when Substantial Sale Consideration of Immovable property is evidenced by registered agreement: ITAT deletes Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Substantial-Sale-Sale-Consideration-Consideration-of-Immovable-property-Immovable-property-ITAT-deletes-Penalty-ITAT-taxscan.jpg "Section 269SS not applicable when Substantial Sale Consideration of Immovable property is evidenced by registered agreement: ITAT deletes Penalty u/s 271D [Read Order]")
Capital Gain Deduction u/s 54F of Income Tax Act cannot be Denied due to Failure of Assessee to Furnish Complete Details: ITAT Restores Matter to CIT (E) [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) set aside the appellate order and remitted the matter back to the file of the Commissioner of Income Tax (Appeals) [CIT (A)] for...
![Capital Gain Deduction u/s 54F of Income Tax Act cannot be Denied due to Failure of Assessee to Furnish Complete Details: ITAT Restores Matter to CIT (E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Capital-Gain-Deduction-Income-Tax-Act-Denied-Failure-Assessee-Furnish-ITAT-TAXSCAN.jpg "Capital Gain Deduction u/s 54F of Income Tax Act cannot be Denied due to Failure of Assessee to Furnish Complete Details: ITAT Restores Matter to CIT (E) [Read Order]")
Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the credit could not be held to be unexplained cash credit and the impugned additions are not sustainable in law. The...
![Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Records-sales-assessee-credit-ITAT-deletes-addition-addition-taxscan.jpg "Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]")