![Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Addition-Income-Tax-Income-Tax-Act-Examining-and-Finding-Fault-in-Cash-Book-taxscan.jpg "Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]")
Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that the income tax addition under Section 69 of the Income Tax Income Tax Act,...
![Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-Legitimate-fund-transfers-and-tax-implications-Balance-sheet-proof-for-Section-68-cases-Taxscan.jpg "Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]")
![No Errors or Infirmities Found in Assessment Order Prejudicial to Revenue’s Interest: ITAT sets aside order passed by PCIT u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Found-Assessment-Order-Prejudicial-to-Revenues-Interest-ITAT-PCIT-us-263-of-Income-Tax-Act-TAXSCAN.jpg "No Errors or Infirmities Found in Assessment Order Prejudicial to Revenue’s Interest: ITAT sets aside order passed by PCIT u/s 263 of Income Tax Act [Read Order]")
![ITAT Annual Digest 2023 [Part 2]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ANNUAL-DIGEST-ITAT-ANNUAL-DIGEST-taxscan.jpg "ITAT Annual Digest 2023 [Part 2]")
![Non-Registration of Gift Deed cant be considered to be Sham Transaction as Assessee was in Full Possession of Property Sold by a Registered Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Gift-Deed-Sham-Transaction-Sale-Deed-TAXSCAN.jpg "Non-Registration of Gift Deed cant be considered to be Sham Transaction as Assessee was in Full Possession of Property Sold by a Registered Sale Deed: ITAT [Read Order]")
Availability of cash with different companies is sufficient to explain cash found at time of search: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) observed that availability of cash with different companies is sufficient to explain cash found at time of search. The issue to be...
![Availability of cash with different companies is sufficient to explain cash found at time of search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Availability-cash-companies-explain-cash-ITAT-TAXSCAN.jpg "Availability of cash with different companies is sufficient to explain cash found at time of search: ITAT [Read Order]")
Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that exemption under Section 54EC of the Income Tax Act, 1961 shall not be allowed when the investment has not been made during the...
![Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Investment-Income-Tax-Act-TAXSCAN.jpg "Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]")
Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, deleted the proceedings against Saif Partners India IV Limited, on the ground that conditions...
![Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Revisional-Jurisdiction-ITAT-Proceedings-Saif-Partners-India-IV-Limited-Taxscan.jpg "Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order]")
Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), allowed income tax addition to Luthra and Luthra LLP on the ground that Bonus paid to partners attracts Section 40(b)(v) of Income Tax...
![Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bonus-Paid-to-Partners-attracts-Income-Tax-Act-ITAT-allows-Income-Tax-Addition-to-Luthra-and-Luthra-LLP-TAXSCAN.jpg "Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]")
Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]
Adopting the circle rate of the property is a violation of 56(2)(viib), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of CIT(A)which deleted the addition of...
![Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Adopting-Circle-Rate-Property-violation-ITAT-upholds-CITA-TAXSCAN.jpg "Adopting the Circle Rate of the Property is violation of 56(2)(viib): ITAT upholds Order of CIT(A) [Read Order]")