![Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-income-surrendered-course-Survey-Proceedings-taxed-Income-Tax-ITAT-quashes-Revision-Order-taxscan.jpg "Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]")
Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that additional income surrendered during the course of survey proceedings should not...
![ITAT upholds Assessment Order passed u/s 143(3) of Income Tax Act based on intimation made by section 143(1) of Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-assesment-assesment-order-income-tax-act-taxscan.jpg "ITAT upholds Assessment Order passed u/s 143(3) of Income Tax Act based on intimation made by section 143(1) of Act [Read Order]")
![Excess cash found during course of Survey shall not be taxed under head of Business Income attracts Higher Tax Rate u/s 115BBE of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Excess-cash-Excess-cash-found-during-course-of-Survey-course-of-Survey-Excess-cash-found-during-course-of-Survey-shall-not-be-taxed-under-head-of-Business-income-Attracts-Higher-tax-rate-taxscan.jpg "Excess cash found during course of Survey shall not be taxed under head of Business Income attracts Higher Tax Rate u/s 115BBE of Income Tax Act: ITAT [Read Order]")
![Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Section-115BBE-of-Income-Tax-Act-Income-Tax-Act-Surrendered-Income-Surrendered-Income-on-account-of-Excess-Stock-Income-account-of-Excess-Stock-ITAT-taxscan.jpg "Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]")
![Internet Expenses, Labour Charges as Allowable Business Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Internet-Expenses-Labour-Charges-Business-Expenses-ITAT-Income-Tax-taxscan.jpg "Internet Expenses, Labour Charges as Allowable Business Expenses: ITAT [Read Order]")
Cash Deposits from earlier withdrawals cannot be Totally Disbelieved: ITAT allows Deduction on Cash Deposit[Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the cash deposits from earlier withdrawals cannot be totally disbelieved, thus, the bench allowed deduction on the cash...
![Cash Deposits from earlier withdrawals cannot be Totally Disbelieved: ITAT allows Deduction on Cash Deposit[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Cash-Deposits-earlier-withdrawals-Totally-Disbelieved-ITAT-Deduction-Cash-Deposit-TAXSCAN.jpg "Cash Deposits from earlier withdrawals cannot be Totally Disbelieved: ITAT allows Deduction on Cash Deposit[Read Order]")
Additional Income not from any Unexplained Source should be Taxable at Normal Tax Rates as Applicable to Business Income: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT) held that the additional income which was not derived from the unexplained sources should be taxable at normal tax rates as same as...
![Additional Income not from any Unexplained Source should be Taxable at Normal Tax Rates as Applicable to Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-Assessung-officer-Income-Tax-Act-Income-Surrendered-income-unexplained-source-Tax-Rate-Business-taxscan.jpg "Additional Income not from any Unexplained Source should be Taxable at Normal Tax Rates as Applicable to Business Income: ITAT [Read Order]")
Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that Non-mentioning of the business income in the books of account cannot be the sole reason to invoke the provisions of Section...
![Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Business-income-Non-Mentioning-of-Business-Income-Books-of-Account-Business-Income-in-Books-of-Account-Invoke-taxscan.jpg "Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]")
Set off of any Loss Prior to AY 2016-17 cannot be Denied u/s 115BBE of Income Tax Act: ITAT [Read Order]
The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) held that set-off of any loss or deduction of any expenditure of business income, prior to Assessment Year (AY) 2016-17 cannot be denied...
![Set off of any Loss Prior to AY 2016-17 cannot be Denied u/s 115BBE of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/income-tax-act-income-tax-act-set-off-ITAT-loss-denial-taxscan.jpg "Set off of any Loss Prior to AY 2016-17 cannot be Denied u/s 115BBE of Income Tax Act: ITAT [Read Order]")
Addition made by AO u/s. 115BBE of Income Tax Act on ground of Late filing of ROI: ITAT Directs Re-adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to re-adjudicatethe addition made under section 115BBE of the Income Tax Act, 1961 on the ground of...
![Addition made by AO u/s. 115BBE of Income Tax Act on ground of Late filing of ROI: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-made-by-AO-Addition-AO-Income-Tax-Act-Late-filing-of-ROI-Late-filing-ROI-ITAT-Directs-Re-adjudication-ITAT-Income-Tax-taxscan.jpg "Addition made by AO u/s. 115BBE of Income Tax Act on ground of Late filing of ROI: ITAT Directs Re-adjudication [Read Order]")
Additional Income Surrendered before 2nd Amendment to S.115BBE of IT Act chargeable at Ordinary Rate of 30%: ITAT quashes Revision Order [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that additional income surrendered before the 2nd amendment to Section 115BBE of Income Tax Act, 1961 should be chargeable at...
![Additional Income Surrendered before 2nd Amendment to S.115BBE of IT Act chargeable at Ordinary Rate of 30%: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Income-Surrendered-amendment-IT-Act-Income-Tax-Act-Ordinary-Rate-ITAT-quashes-Revision-Order-ITAT-Revision-Order-taxscan.jpg "Additional Income Surrendered before 2nd Amendment to S.115BBE of IT Act chargeable at Ordinary Rate of 30%: ITAT quashes Revision Order [Read Order]")
Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has recently, in an appeal filed before it, on finding that unexplained money under section 69A was received back through banking channel as...
![Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Unexplained-Money-Banking-Channel-sale-Consideration-of-Shares-ITAT-Upholds-Addition-ITAT-Income-Tax-taxscan.jpg "Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]")