![Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Profit-Twin-land-transactions-Taxable-Business-Income-not-Capital-Income-ITAT-TAXSCAN-1.jpg "Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]")
Profit from Twin land transactions Taxable under Business Income, not Capital Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench held that income from twin land transactions is taxable under Business Income, not Capital...
![Rectification application against Rejection of FTC Claim: Kerala HC directs to Consider Condonation Application for 234 Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Rectification-application-FTC-Kerala-HC-Condonation-Application-taxscan.jpg "Rectification application against Rejection of FTC Claim: Kerala HC directs to Consider Condonation Application for 234 Days Delay [Read Order]")
![Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Explain-Source-Cash-Deposit-in-Bank-Account-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]")
![Claim of Credit of TCS by Individual License holder cant be allowed when it has already been allowed to Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Credit-TCS-Individual-License-holder-Partnership-Firm-ITAT-TAXSCAN.jpg "Claim of Credit of TCS by Individual License holder cant be allowed when it has already been allowed to Partnership Firm: ITAT [Read Order]")
![CBDT extends Time Limit till 31 Jan, 2024 for Processing of Income Tax Returns with Refund Claims u/s 143(1) in Non-Scrutiny Cases [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/CBDT-Income-Tax-Returns-Income-Tax-Refund-Non-Scrutiny-Cases-taxscan.jpg "CBDT extends Time Limit till 31 Jan, 2024 for Processing of Income Tax Returns with Refund Claims u/s 143(1) in Non-Scrutiny Cases [Read Order]")
![Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Consideration-Transfer-Goodwill-Taxable-Capital-Gain-ITAT-taxscan.jpg "Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]")
Non delivery of possession to the purchaser by the date of filing of suit proves provisions U/S 2(47) not being applicable: ITAT upholds order of CIT(A) [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that no provisions under Section 2(47) of the Income Tax Act is attracted as neither the entire sale consideration was paid by the...
![Non delivery of possession to the purchaser by the date of filing of suit proves provisions U/S 2(47) not being applicable: ITAT upholds order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-delivery-possession-purchaser-date-of-filing-suit-proves-provisions-applicable-ITAT-order-CITA-TAXSCAN.jpg "Non delivery of possession to the purchaser by the date of filing of suit proves provisions U/S 2(47) not being applicable: ITAT upholds order of CIT(A) [Read Order]")
Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Children-Education-Helper-Uniform-attire-Reimbursement-Purview-Income-Tax-Act-ITAT-Deletes-Income-Tax-Addition-such-Perquisites-TAXSCAN.jpg "Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]")
Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-for-Deduction-Interest-Expenditure-Income-Tax-Act-Lawful-Assessee-Established-Borrowed-Funds-Interest-bearing-Advances-ITAT-TAXSCAN.jpg "Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]")
Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that deduction under Section 80JJAA of the Income Tax Act requires examination of quantum as well as fulfillment of various condition as...
![Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-effective-Representation-Authorities-No-effective-Representation-before-lower-Authorities-ITAT-taxscan-1.jpg "Relief to Jaquar: ITAT Restores Matter to AO for Examination of Quantum and Fulfillment of Stipulated Conditions u/s 80 JJAA of Income Tax Act for Claim of Deduction [Read Order]")
Assessment concluded by Predecessor can't be Reopened u/s 147 of Income Tax Act merely on ground of "Change of Opinion": ITAT [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment concluded by the predecessor cannot be reopened under Section 147 of the Income Tax Act, 1961 merely on the...
![Assessment concluded by Predecessor cant be Reopened u/s 147 of Income Tax Act merely on ground of Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessment-Predecessor-Assessment-concluded-by-Predecessor-Income-Tax-Act-ITAT-taxscan.jpg "Assessment concluded by Predecessor cant be Reopened u/s 147 of Income Tax Act merely on ground of Change of Opinion: ITAT [Read Order]")
Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed re-adjudication as the addition under Section 68 of the Income Tax Act 1961 due to non-consideration of unsigned reply by...
![Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Non-Consideration-of-Unsigned-Reply-Reply-ITAT-taxscan-1.jpg "Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]")