![Payment from Sale of Shares Deposited in Bank Account: ITAT rules No Reason to add Capital Gains Unexplained Cash Credit u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Payment-Sale-of-Shares-Deposited-Bank-Account-ITAT-Capital-Gains-Unexplained-Cash-Credit-Income-Tax-Act-TAXSCAN.jpg "Payment from Sale of Shares Deposited in Bank Account: ITAT rules No Reason to add Capital Gains Unexplained Cash Credit u/s 68 of Income Tax Act [Read Order]")
Payment from Sale of Shares Deposited in Bank Account: ITAT rules No Reason to add Capital Gains Unexplained Cash Credit u/s 68 of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) ruled that there is no reason to add capital gains as unexplained cash credit under...
![Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-submitting-Information-regarding-Cost-involved-furnishing-flats-ITAT-sustains-Addition-AO-taxscan.jpg "Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]")
![Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Share-Premium-Share-Capital-Income-Tax-Act-imposed-ignoring-Evidences-produced-Assessee-ITAT-taxscan.jpg "Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]")
![AO Failed to Record Reason for Escape of Income due to Non-disclosure of Materials Facts by Assessee u/s 147 of Income Tax Act: ITAT Quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Income-AO-Failed-to-Record-Reason-for-Escape-of-Income-Non-disclosure-of-Materials-Facts-by-Assessee-taxscan.jpg "AO Failed to Record Reason for Escape of Income due to Non-disclosure of Materials Facts by Assessee u/s 147 of Income Tax Act: ITAT Quashes Re-Assessment [Read Order]")
Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that lease rental income received from letting out of school buildings with amenities should be treated as Income from House...
![Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Lease-rental-income-letting-out-school-building-amenities-Income-from-House-property-House-property-ITAT-income-tax-taxscan.jpg "Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]")
Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the order of the assessing officer (AO) for rejecting the claim of long-term capital gain (LTCG) under section 10(38) of the...
![Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-LTCG-Income-Tax-Act-Rejected-due-Non-submission-Documents-ITAT-TAXSCAN.jpg "Claim of LTCG u/s 10(38) of Income Tax Act Rejected due to Non submission of Documents: ITAT Quashes Order [Read Order]")
Interest Income from Co-operative Bank Credited to Reserves in Balance Sheet Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, held that interest income from co-operative bank credited to reserves in the balance sheet is...
![Interest Income from Co-operative Bank Credited to Reserves in Balance Sheet Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/INTERE1.jpg "Interest Income from Co-operative Bank Credited to Reserves in Balance Sheet Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
![Education Cess is Not Allowable as Expenditure u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Education-Cess-Expenditure-Income-Tax-Act-Taxscan.jpg "Education Cess is Not Allowable as Expenditure u/s 37 of Income Tax Act: ITAT [Read Order]")
Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai has held that unsecured loans are taken through banking channels from Directors / Shareholders and upholds deletion of addition under section 68 of...
![Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unsecured-Loans-Banking-Shareholders-ITAT-taxscan.jpg "Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]")
On-Money not found Credited in Books of Account during Search proceedings can't be brought to Tax: ITAT
The Income Tax Appellate Tribunal (ITAT) Mumbai has ruled that On-money that is not found credited in the books of account during search proceedings but in loose sheets cannot be brought to tax. ...
ITAT upholds ALP of corporate guarantee as determined 0.43% p.a, directs the AO to vacate the upward transfer pricing adjustment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench upheld the Arm’s Length Price (ALP) of corporate guarantee as determined 0.43% per annum and directed the AO to vacate the upward transfer...
![ITAT upholds ALP of corporate guarantee as determined 0.43% p.a, directs the AO to vacate the upward transfer pricing adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/ITAT-ALP-corporate-guarantee-AO-upward-transfer-pricing-adjustment-Taxscan.jpg "ITAT upholds ALP of corporate guarantee as determined 0.43% p.a, directs the AO to vacate the upward transfer pricing adjustment [Read Order]")