![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]")
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...
![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]](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]")
![Non issuance of Notice prevented Assessee from Reasonable Opportunity of being Heard Resulting in Violation of Natural Justice: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-issuance-of-notice-notice-assessee-reasonable-opportunity-opportunity-ITAT-directs-readjudication-taxscan.jpg "Non issuance of Notice prevented Assessee from Reasonable Opportunity of being Heard Resulting in Violation of Natural Justice: ITAT directs Readjudication [Read Order]")
![Income Tax Dept has no power to scrutinize Sales Tax Return accepted by Commercial Tax Department: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Dept-power-to-scrutinize-Sales-Tax-Return-Commercial-Tax-Department-ITAT-TAXSCAN.jpg "Income Tax Dept has no power to scrutinize Sales Tax Return accepted by Commercial Tax Department: ITAT deletes addition [Read Order]")
Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) sustainedthe addition of partial amount of Rs. 1 crore as unexplained money under Section 69A of the Income Tax Act, 1961. The tribunal...
![Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-Furnish-Material-Evidence-Gift-Received-Marriage-ITAT-Partial-Unexplained-Money-taxscan.jpg "Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]")
No disallowance on claim of prior Period Expenses on Customs Duty paid due to unable to Perform Export:ITAT [ Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai Bench ruled that no disallowance on claim of prior period expenses on customs duty paid due to unable to perform Export The assessee...
![No disallowance on claim of prior Period Expenses on Customs Duty paid due to unable to Perform Export:ITAT [ Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/disallowance-claim-prior-Period-Expenses-Customs-Duty-Perform-Export-ITAT.jpg "No disallowance on claim of prior Period Expenses on Customs Duty paid due to unable to Perform Export:ITAT [ Read Order]")
AO has Power to Reopen Case if there is any 'Tangible Material ' Concluding Escape of Income from Assessment: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that in the absence of any new tangible material, the case could not be reopened on mere change of opinion,the reassessment proceedings...
![AO has Power to Reopen Case if there is any Tangible Material Concluding Escape of Income from Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Power-Reopen-Tangible-Material-Escape-Income-Assessment-ITAT-taxscan.jpg "AO has Power to Reopen Case if there is any Tangible Material Concluding Escape of Income from Assessment: ITAT [Read Order]")
Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the turnover alone could not be considered as source of loan as advanced to the assessee, thus directed the Assessing Officer (AO)...
![Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Turnover-of-a-Company-Alone-Cannot-be-Considered-as-Source-of-Loan-Turnover-of-a-Company-Source-of-Loan-Advanced-to-Assessee-ITAT-Income-Tax-Addition-Taxscan.jpg "Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]")
ITAT deletes Additions made u/s 69A Income Tax Act towards Purchase of Windmill Based on Dumb Unsigned Documents [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition made under section 69A of Income Tax Act 1961 towards the purchase of windmills based on dump unsigned...
![ITAT deletes Additions made u/s 69A Income Tax Act towards Purchase of Windmill Based on Dumb Unsigned Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-deletes-additions-Income-Tax-Act-Purchase-Windmill-dumb-unsigned-documents-income-tax-taxscan.jpg "ITAT deletes Additions made u/s 69A Income Tax Act towards Purchase of Windmill Based on Dumb Unsigned Documents [Read Order]")
Order can't be passed when an Application for Delay Condonation is Pending before CBDT: ITAT set aside Order of CIT(A) [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that an order cannot be passed when an application for delay condonation is pending before the Central Board of Direct...
![Order cant be passed when an Application for Delay Condonation is Pending before CBDT: ITAT set aside Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Delay-Condonation-CBDT-Order-Order-cant-be-passed-when-an-Application-for-Delay-Application-for-Delay-income-tax-taxscan.jpg "Order cant be passed when an Application for Delay Condonation is Pending before CBDT: ITAT set aside Order of CIT(A) [Read Order]")
Rejection of Appeal by CIT(A) on ground of Delay in Filing Appeal by Assessee : ITAT Directs Re-adjudication [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) directed the Commissioner of Income Tax (Appeals) to re-adjudicate the matter by condoning the delay of filing an appeal by the...
![Rejection of Appeal by CIT(A) on ground of Delay in Filing Appeal by Assessee : ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Rejection-Appeal-CITA-ground-Delay-Filing-Appeal-Assessee-ITAT-Directs-Re-adjudication-TAXSCAN.jpg "Rejection of Appeal by CIT(A) on ground of Delay in Filing Appeal by Assessee : ITAT Directs Re-adjudication [Read Order]")