![Immovable Property received without consideration as per Family settlement Memorandum is Taxable u/s 56(2)(vii)(b)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Immovable-property-Family-settlement-Memorandum-ITAT-taxscan.jpg "Immovable Property received without consideration as per Family settlement Memorandum is Taxable u/s 56(2)(vii)(b)(i): ITAT [Read Order]")
Immovable Property received without consideration as per Family settlement Memorandum is Taxable u/s 56(2)(vii)(b)(i): ITAT [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has held that immovable property received without consideration by the assessee, as per...
![Activities of Society for Benefit of Investors and Potential Investors forming part of General Public, eligible for Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Potential-Investors-Income-Tax-Deduction-ITAT-taxscan.jpeg "Activities of Society for Benefit of Investors and Potential Investors forming part of General Public, eligible for Income Tax Deduction: ITAT [Read Order]")
![Addition on Discrepancy between Gross Receipts Shown in Income Tax Return and amount deducted as TDS or TCS: ITAT remits back matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/gross-receipts-return-of-income-TDS-or-TCS-ITAT-taxscan.jpeg "Addition on Discrepancy between Gross Receipts Shown in Income Tax Return and amount deducted as TDS or TCS: ITAT remits back matter [Read Order]")
![Reopening of Income Tax Assessment cannot be made on mere Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reopening-Income-Tax-ITAT-TAXSCAN-3.jpg "Reopening of Income Tax Assessment cannot be made on mere Change of Opinion: ITAT [Read Order]")
![Re-opening Notice can be issued u/s 147 in relation to Search and Seizure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Notice-Search-And-Seizure-ITAT-taxscan.jpg "Re-opening Notice can be issued u/s 147 in relation to Search and Seizure: ITAT [Read Order]")
Offering LTCG on Sale of Land by Fresh Cheques, not acceptable on pretext that there is no Cancellation of Registered Sale Deed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that offering Long Term Capital Gain (LTCG) on sale of land by fresh cheques, not acceptable on pretext that there is no cancellation of...
![Offering LTCG on Sale of Land by Fresh Cheques, not acceptable on pretext that there is no Cancellation of Registered Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/LTCG-sale-of-land-cheques-sale-deed-ITAT-taxscan.jpg "Offering LTCG on Sale of Land by Fresh Cheques, not acceptable on pretext that there is no Cancellation of Registered Sale Deed: ITAT [Read Order]")
Claim for Deduction on Land vacation Compensation Charges allowed without specific enquiry: ITAT upholds Revisional Order
Claim for deduction on account of land vacation compensation charges allowed without specific enquiry by the AO, the Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) upheld the revisional...
Withdrawal of Interest on Refund u/s 244 A(2) is beyond the Scope of Rectification u/s 154: ITAT Quashes Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bench Mumbai, has recently in a writ petition filed before it, held that the withdrawal of interest on refund u/s 244 A (2), is beyond the scope of...
![Withdrawal of Interest on Refund u/s 244 A(2) is beyond the Scope of Rectification u/s 154: ITAT Quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Interest-On-Refund-ITAT-taxscan.jpg "Withdrawal of Interest on Refund u/s 244 A(2) is beyond the Scope of Rectification u/s 154: ITAT Quashes Order [Read Order]")
Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai, has recently  while quashing a revisional order in a writ petition filed before it , held that notional rent will not be applicable to unsold...
![Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Notional-Rent-Unsold-Flats-Real-Estate-Business-ITAT-Revisional-Order-taxscan.jpg "Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]")
Share Transactions with Company declared as Penny Stock: ITAT allows Claim of Business Loss by FPI as No Evidence of Malpractices
The Income Tax Appellate Tribunal ( ITAT ) Mumbai, has in an appeal recently filed before it by the Jt. Commissioner of Income Tax (OSD), International Taxation, held that business loss occurring out...
Delay of 135 days due to Misplacement of Assessment Order by Advocate: ITAT condones delay [Read Order]
Income Tax Appellate Tribunal (ITAT), New Delhi bench consisting of Shamim Yahya, Accountant Member and Yogesh Kumar US, Judicial Member condoned delay of 135 days occurred due to misplacement of...
![Delay of 135 days due to Misplacement of Assessment Order by Advocate: ITAT condones delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Assessment-order-Advocate-ITAT-taxscan.jpg "Delay of 135 days due to Misplacement of Assessment Order by Advocate: ITAT condones delay [Read Order]")
Re-Assessment is Invalid If Satisfaction recorded in Mechanical Manner without Application of Mind: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai recorded re opening assessment as invalid on the ground that satisfaction was recorded in a mechanical manner without application of mind for issuing...
![Re-Assessment is Invalid If Satisfaction recorded in Mechanical Manner without Application of Mind: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/application-of-mind-notice-ITAT-assessment-taxscan.jpg "Re-Assessment is Invalid If Satisfaction recorded in Mechanical Manner without Application of Mind: ITAT [Read Order]")