![Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Money-Lending-Income-Tax-Appellate-Tribunal-ITAT-Chennai-Family-Business-Business-Income-taxscan.jpg "Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]")
Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (I TAT ) upheld the addition of excess income as 'business income' for a family engaged in the...
![Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Chennai-Income-tax-Discrepancy-in-Stock-Business-Income-taxscan.jpg "Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]")
![ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Re-adjudication-Cash-Deposits-Biscuit-Confectionery-Business-Demonetization-taxscan.jpg "ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]")
![Investment Income from Excess Stock cannot be Taxed u/s 69 B of Income Tax Act, Must be Assessed as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Investment-income-taxation-Business-income-assessment-Excess-stock-taxation-Taxation-of-investment-income-taxscan.jpg "Investment Income from Excess Stock cannot be Taxed u/s 69 B of Income Tax Act, Must be Assessed as Business Income: ITAT [Read Order]")
“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]
The Bangalore bench Income Tax Appellate Tribunal (ITAT), while directing re-adjudication with respect to genuineness of deposit made during demonetisation period held that not every deposit during...
![“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Not-every-deposit-during-Demonetisation-Period-Demonetisation-Period-Unaccounted-Cash-ITAT-taxscan.jpg "“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]")
Hospital Building Construction Investment from Professional Receipts shall compute under Head of Business Income: ITAT [Read Order]
The Chandigarh Income Tax Appellate Tribunal ( ITAT ) held that investment in construction of hospital buildings made out from the professional receipts are computed under head business income. ...
![Hospital Building Construction Investment from Professional Receipts shall compute under Head of Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Chandigarh-Income-tax-Hospital-Investment-Head-of-Business-Income-Business-income-computation-Tax-for-hospital-construction-taxscan.jpg "Hospital Building Construction Investment from Professional Receipts shall compute under Head of Business Income: ITAT [Read Order]")
Business receipt or Unexplained Cash Receipt can be assessed u/s 69 A of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Business receipt or unexplained cash receipt can be assessed u/S 69 A of Income Tax Act 1961. The assesse firm was...
![Business receipt or Unexplained Cash Receipt can be assessed u/s 69 A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-Tax-ITAT-Mumbai-Business-receipt-unexplained-cash-receipt-Income-Tax-on-Unexplained-cash-taxscan.jpg "Business receipt or Unexplained Cash Receipt can be assessed u/s 69 A of Income Tax Act: ITAT [Read Order]")
Rajasthan HC quashes Time Barred Issuance of Income Tax SCN and Proceedings u/s 148A(b) [Read Order]
The Rajasthan High Court set aside the order passed against the appellant on the charge that the income chargeable to tax for the assessment year 2015-16 has escaped assessment under the purview of...
![Rajasthan HC quashes Time Barred Issuance of Income Tax SCN and Proceedings u/s 148A(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Rajasthan-HC-rajasthan-high-court-Income-Tax-scn-show-cause-notice-Time-Barred-Issuance-Taxscan.jpg "Rajasthan HC quashes Time Barred Issuance of Income Tax SCN and Proceedings u/s 148A(b) [Read Order]")
Madras HC quashes Non-Speaking Order of NFAC in Appeal against Addition u/s 115BE, remands matter [Read Order]
A single judge of the Madras High Court set aside an order against an assessee. The Court questioned the application of mind of the Assessing Officer in fixing the liability of the Asseessee. ...
Section 115BBE of Income Tax Act cannot be held Unconstitutional on ground that there is Apprehension of Misuse: Delhi HC [Read Order]
The Delhi High Court in a significant ruling held that Section 115BBE of the Income Tax Act, 1961 cannot be held unconstitutional on ground that there is apprehension of misuse. The present writ...
![Section 115BBE of Income Tax Act cannot be held Unconstitutional on ground that there is Apprehension of Misuse: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-Unconstitutional-Apprehension-of-Misuse-Delhi-HC-delhi-high-court-taxscan.jpg "Section 115BBE of Income Tax Act cannot be held Unconstitutional on ground that there is Apprehension of Misuse: Delhi HC [Read Order]")
Provisions of sections 115BBE will not be applied on Surrendered Income which cannot be treated as unexplained money u/s 69A of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that provisions of Section 115BBE would not be applied to surrendered income, which could not be treated as unexplained money under Section...
![Provisions of sections 115BBE will not be applied on Surrendered Income which cannot be treated as unexplained money u/s 69A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Provisions-Surrendered-Income-Income-unexplained-money-Income-Tax-Act-Tax-Income-tax-news-tax-news-taxscan.jpg "Provisions of sections 115BBE will not be applied on Surrendered Income which cannot be treated as unexplained money u/s 69A of Income Tax Act: ITAT [Read Order]")