![ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Proof-of-Identity-Creditworthiness-of-Shareholders-Genuineness-of-Transactions-Transactions-Taxscan-.jpg "ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]")
ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Kolkata deleted addition on proof of identity and creditworthiness of shareholders and...
![Absence of Valid Reasons and Tangible Materials: ITAT quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Tangible-Materials-ITAT-Re-Assessment-taxscan.jpg "Absence of Valid Reasons and Tangible Materials: ITAT quashes Re-Assessment [Read Order]")
![Reassessment u/s 147 simply relied on the Non-PAN AIR information is not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-Non-PAN-AIR-information-non-PAN-AIR-ITAT-income-tax-taxscan.jpg "Reassessment u/s 147 simply relied on the Non-PAN AIR information is not valid: ITAT [Read Order]")
![Due explanation of ground of receipt of Share Application Money: Gujarat HC quashes Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Share-Application-Money-Gujarat-HC-Reassessment-TAXSCAN.jpg "Due explanation of ground of receipt of Share Application Money: Gujarat HC quashes Reassessment [Read Order]")
![Section 153C to be Applied for Assessment Proceedings Based on Material Seized from Third Party: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Assessment-ITAT-taxscan.jpg "Section 153C to be Applied for Assessment Proceedings Based on Material Seized from Third Party: ITAT [Read Order]")
![Additions already made by AO on Capital Gain: ITAT quashes Order u/s 263 by PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/AO-Capital-Gain-ITAT-PCIT-taxscan.jpg "Additions already made by AO on Capital Gain: ITAT quashes Order u/s 263 by PCIT [Read Order]")
Penal Interest due to delay in Payment of Lease amount: ITAT directs to Capitalize under Project Expenses [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench directed to capitalize under project expenses as there was Penal Interest due to delay in payment of lease amount. The assessee company,...
![Penal Interest due to delay in Payment of Lease amount: ITAT directs to Capitalize under Project Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penal-Interest-Payment-Lease-amount-ITAT-Project-Expenses-taxscan.jpg "Penal Interest due to delay in Payment of Lease amount: ITAT directs to Capitalize under Project Expenses [Read Order]")
![Misconception regarding Block period: Madras HC dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Madras-HC-appeal-taxscan.jpeg "Misconception regarding Block period: Madras HC dismisses Appeal [Read Order]")
![No Proof of Delivery and Service of Notice: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Service-Notice-ITAT-Penalty-taxscan.jpeg "No Proof of Delivery and Service of Notice: ITAT deletes Penalty [Read Order]")
Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]
A Division Bench of the Gujarat High Court held that a change of opinion on the basis of existing records is not a valid ground for reopening the assessment of Hindustan Marble Pvt. Ltd., the...
![Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Change-of-Opinion-on-Existing-Records-Reassessment-Gujarat-High-Court-Hindustan-Marble-taxscan.jpeg "Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]")
Acceptance of Additional Evidence filed by Assessee without complying Rule 46A of the 1962 Rules is invalid: ITAT [Read Order]
Acceptance of additional evidences filed by assessee without complying Rule 46A of the 1962 Rules is invalid, so was held by Income Tax Appellate Tribunal (ITAT), Allahabad. The assessee, Tilak...
![Acceptance of Additional Evidence filed by Assessee without complying Rule 46A of the 1962 Rules is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/additional-evidences-ITAT-taxscan.jpeg "Acceptance of Additional Evidence filed by Assessee without complying Rule 46A of the 1962 Rules is invalid: ITAT [Read Order]")
Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench consisting of Beena Pillai, Judicial Member, and Laxmi Prasad Sahu, Accountant Member held that Capital Gain does not attract in case of...
![Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Capital-Gain-property-ITAT-taxscan.jpg "Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]")