![ITAT Upholds addition made on account of Trading in Penny Stock Shares of Shell Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Stock-share-addition-made-account-of-Trading-Penny-Stock-Shares-Shell-Company-ITAT-TAXSCAN.jpg "ITAT Upholds addition made on account of Trading in Penny Stock Shares of Shell Company [Read Order]")
ITAT Upholds addition made on account of Trading in Penny Stock Shares of Shell Company [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition made by the assessing officer on account of trading in ...
![ITAT Deletes Addition on Disallowance of Subcontract Expenses on Ground of Lack of Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Addition-on-Disallowance-of-Subcontract-Expenses-Lack-of-Evidence-ITAT-Deletes-Addition-Addition-on-Disallowance-of-Subcontract-Expenses-Subcontract-Expenses-taxscan.jpg "ITAT Deletes Addition on Disallowance of Subcontract Expenses on Ground of Lack of Evidence [Read Order]")
![Filing of Statutory Appeal before NFAC Accompanied by Stay Application for Interim Protection: Madras HC Dismisses WP [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/dismisses-HC-High-court-madras-HC-dismisses-WP-madras-high-court-taxscan.jpg "Filing of Statutory Appeal before NFAC Accompanied by Stay Application for Interim Protection: Madras HC Dismisses WP [Read Order]")
![Section 292BB of Income Tax Act shall not applicable if Assessee not Participated in Reassessment Proceedings: ITAT quashes Notice to Dead Person [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Act-Income-Tax-Reassessment-Proceedings-ITAT-quashes-notice-to-Dead-Person-taxscan.jpg "Section 292BB of Income Tax Act shall not applicable if Assessee not Participated in Reassessment Proceedings: ITAT quashes Notice to Dead Person [Read Order]")
Cash Deposit made in Savings Bank account is Sale Consideration earned from Agricultural Land: ITAT Quashes Revision Order [Read Order]
The Amritsar bench of Income Tax Appellate Tribunal (ITAT) while quashing the revision order, held that cash deposit made in a savings bank account is sale consideration earned from the...
![Cash Deposit made in Savings Bank account is Sale Consideration earned from Agricultural Land: ITAT Quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Cash-Deposit-made-Savings-Bank-account-Sale-Consideration-earned-Agricultural-Land-ITAT-TAXSCAN.jpg "Cash Deposit made in Savings Bank account is Sale Consideration earned from Agricultural Land: ITAT Quashes Revision Order [Read Order]")
Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding carat wise stock maintenance was sufficient compliance to prove genuine purchases in diamond trade. The...
![Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Carat-Wise-Stock-Maintenance-Carat-Wise-Stock-Genuine-Purchases-Diamond-Trade-Trade-ITAT-Deletes-Addition-ITAT-Addition-Taxscan.jpg "Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]")
![Assessment Order u/s147 of Income Tax Act is Appealable Order: Calcutta HC Dismisses WP [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Act-is-Appealable-Order-Calcutta-HC-Dismisses-WP-HC-TAXSCAN.jpg "Assessment Order u/s147 of Income Tax Act is Appealable Order: Calcutta HC Dismisses WP [Read Order]")
ITAT Deletes Addition to Income of Elderly Agriculturist Based on Adequate Justification and Proper Account Maintenance [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the addition to Income of elderly agriculturist based on adequate justification and proper account maintenance. The...
![ITAT Deletes Addition to Income of Elderly Agriculturist Based on Adequate Justification and Proper Account Maintenance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Deletes-Addition-to-Income-of-Elderly-Agriculturist-Based-on-Adequate-Justification-and-Proper-Account-Maintenance-TAXSCAN.jpg "ITAT Deletes Addition to Income of Elderly Agriculturist Based on Adequate Justification and Proper Account Maintenance [Read Order]")
Reassessment Proceedings u/s 147 of IT Act completed without Proper Hearing : ITAT directs Re-adjudication [Read Order]
The Indore bench of Income Tax Appellate Tribunal (ITAT) directed re adjudication to the assessing officer for the completion of reassessment under Section 147 of Income Tax Act, 1961 without proper...
![Reassessment Proceedings u/s 147 of IT Act completed without Proper Hearing : ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Reassessment-proceedings-Reassessment-IT-Act-ITAT-directs-re-adjudication-taxscan.jpg "Reassessment Proceedings u/s 147 of IT Act completed without Proper Hearing : ITAT directs Re-adjudication [Read Order]")
Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]
The Delhi High Court directed to seek statutory remedy on the allegation that the sale consideration of agricultural land was assessed to tax without adjusting the cost of acquisition. Om Parkash,...
![Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Sale-Consideration-of-Agricultural-Land-Sale-Consideration-Agricultural-Land-Tax-Adjusting-the-Cost-of-Acquisition-Cost-of-Acquisition-Delhi-HC-dismisses-Petition-Delhi-High-Court-taxscan.jpg "Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]")
Credit Entries Appearing in Current & Savings Accounts are Gross Receipts from Business Transactions, 8% Profit Rate Applicable: ITAT
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that credit entries appearing in current and saving accounts are gross receipts from business transactions hence 8%...
