![Addition u/s 68 of Income Tax Act cannot be made Without Examining Source of Cash Deposit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/us-68-of-Income-Tax-Act-examining-source-of-cash-deposit-ITAT-TAXSCAN.jpg "Addition u/s 68 of Income Tax Act cannot be made Without Examining Source of Cash Deposit: ITAT [Read Order]")
Addition u/s 68 of Income Tax Act cannot be made Without Examining Source of Cash Deposit: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) observed that addition under Section 68 of the Income Tax Act, 1961, cannot be made...
![Kerala HC urges Swift Action on Stay Petition after Income Tax Authorities denies Deduction and Imposes Penalty u/s 270A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Kerala-HC-Kerala-high-court-Income-Tax-Income-Tax-Authorities-Income-Tax-penalty-Income-Tax-deduction-taxscan.jpg "Kerala HC urges Swift Action on Stay Petition after Income Tax Authorities denies Deduction and Imposes Penalty u/s 270A [Read Order]")
![Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Income-business-Profession-Mismatch-Scope-of-Limited-Scrutiny-ITAT-Assessment-Order-TAXSCAN.jpg "Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]")
![ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-cost-of-Acquisition-cost-of-Acquisition-and-improvement-on-Failure-taxscan.jpg "ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]")
Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance holding that the comparison with fair market value of loan interest was not made while making disallowance under...
![Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Comparison-with-Fair-Market-value-of-Loan-Interest-Fair-Market-value-Loan-Interest-ITAT-Deletes-Disallowance-income-tax-act-income-tax-Disallowance-ITAT-Fair-Market-value-of-Loan-Interest.jpg "Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]")
No Income Tax Addition can be made in the Absence of Incriminating Materials in respect of Unabated Assessment: ITAT Allows Assessee's Appeal [Read Order]
The Delhi Bench of Income tax Appellate Tribunal (ITAT) held that the addition made towards cash deposit in bank account were made recuperation of any incriminating material found during the course...
![No Income Tax Addition can be made in the Absence of Incriminating Materials in respect of Unabated Assessment: ITAT Allows Assessees Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Tax-Addition-Absence-of-Incriminating-Materials-Unabated-Assessment-ITAT-Allows-Assessees-Appeal-taxscan.jpg "No Income Tax Addition can be made in the Absence of Incriminating Materials in respect of Unabated Assessment: ITAT Allows Assessees Appeal [Read Order]")
Failure to justify Genuine Reason for Delay in filing Appeal before Appellate Authority: ITAT denies Condonation for Delay [Read Order]
The Income Tax Appellate Tribunal (ITAT) Raipur bench, while rejecting the delay petition for condonation, held that the assessee failed to justify the genuine reason for the delay in filing the...
![Failure to justify Genuine Reason for Delay in filing Appeal before Appellate Authority: ITAT denies Condonation for Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-justify-Genuine-Reason-for-Delay-in-filing-Appeal-Appellate-Authority-ITAT-denies-Condonation-for-Delay-TAXSCAN.jpg "Failure to justify Genuine Reason for Delay in filing Appeal before Appellate Authority: ITAT denies Condonation for Delay [Read Order]")
Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated u/s 44 AD of Income Tax Act: ITAT Deletes Income Tax Addition [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that addition under Section 69 of the Income Tax Act was not justifiable when the income was estimated under Section 44 A.D of the...
![Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated u/s 44 AD of Income Tax Act: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-on-Unexplained-Expenditure-of-Income-not-Justifiable-when-Income-is-Estimated-Income-Tax-Act-ITAT-Deletes-Income-Tax-Addition-TAXSCAN.jpg "Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated u/s 44 AD of Income Tax Act: ITAT Deletes Income Tax Addition [Read Order]")
Deduction towards Remuneration of Partners, Not covered within Scope of "Limited Scrutiny": ITAT Quashes Revision Order [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) quashed the revision order on the ground of deduction made towards the remuneration of partners which was not covered within the scope of...
![Deduction towards Remuneration of Partners, Not covered within Scope of Limited Scrutiny: ITAT Quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Deduction-towards-Remuneration-of-Partners-Not-covered-within-Scope-of-Limited-Scrutiny-ITAT-Quashes-Revision-Order-TAXSCAN.jpg "Deduction towards Remuneration of Partners, Not covered within Scope of Limited Scrutiny: ITAT Quashes Revision Order [Read Order]")
Society not being Wholly/Substantially financed by Government can't raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the society not being wholly/substantially financed by the government cannot raise a claim for exemption under Section...
![Society not being Wholly/Substantially financed by Government cant raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Society-Society-not-being-Wholly-Government-Claim-Exemption-taxscan-1.jpg "Society not being Wholly/Substantially financed by Government cant raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]")