![Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-from-Sale-of-Agricultural-land-is-not-Capital-Asset-ITAT-TAXSCAN.jpg "Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]")
Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the income derived from sale of agricultural land is not capital asset...
![Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-could-not-made-Absence-of-any-Incriminating-Material-ITAT-TAXSCAN.jpg "Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]")
![No Penalty under Section 271AAA(2) when Assessee Disclosed Undisclosed Income in Section 132(4) Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Assessee-Disclosed-Undisclosed-Income-Assessee-Undisclosed-Income-Statement-ITAT-Taxscan.jpg "No Penalty under Section 271AAA(2) when Assessee Disclosed Undisclosed Income in Section 132(4) Statement: ITAT [Read Order]")
![ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Deletes-Penalty-Assessee-Absence-of-Concealment-Inaccurate-Particulars-of-Income-Income-Taxscan.jpg "ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]")
Assessment u/s 153C not Valid for Assessment Years not Covered within 6-Year Period: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessment under Section 153C of the Income Tax Act, 1961 would not be valid for the assessment year not covered within the...
![Assessment u/s 153C not Valid for Assessment Years not Covered within 6-Year Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Assessment-Years-ITAT-taxscan.jpeg "Assessment u/s 153C not Valid for Assessment Years not Covered within 6-Year Period: ITAT [Read Order]")
![Income Tax Assessment u/s 153 A must be based on Incriminating Material: SC [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Assessment-Income-Tax-Assessment-Incriminating-Material-Supreme-Court-Taxscan.jpg "Income Tax Assessment u/s 153 A must be based on Incriminating Material: SC [Read Judgement]")
Approval Granted u/s 153D of Income Tax Act without Verifying Assessment Records: ITAT quashes Assessment u/s 153A of Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) while quashing the assessment passed under Section 153A of the Income Tax Act 1961 observed that approval granted under Section 153D...
![Approval Granted u/s 153D of Income Tax Act without Verifying Assessment Records: ITAT quashes Assessment u/s 153A of Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Approval-Income-Tax-Act-Assessment-Records-Assessment-ITAT-quashes-Assessment-ITAT-Taxscan.jpg "Approval Granted u/s 153D of Income Tax Act without Verifying Assessment Records: ITAT quashes Assessment u/s 153A of Act [Read Order]")
No Additions to be Made De Hors Any Incriminating Material for Assessment u/s 153A: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that no additions can be made de hors any incriminating material for assessment under Section...
![No Additions to be Made De Hors Any Incriminating Material for Assessment u/s 153A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Additions-Incriminating-Material-Assessment-ITAT-Additions-Taxscan.jpg "No Additions to be Made De Hors Any Incriminating Material for Assessment u/s 153A: ITAT [Read Order]")
Addition made on Foreign Travelling Expenses of Non-Resident Indian Director for Looking Affairs of Company Shall not be disallowed: ITAT sets aside Order
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that addition made on foreign travelling expenses of non-resident Indian directors for looking at affairs of company should...
No adverse Inference Drawn against Assessee: Calcutta HC notes that PCIT could not have Ignored Order u/s 153A as Immaterial and Irrelevant [Read Order]
The Calcutta High Court noted that the Principal Commissioner of Income Tax (PCIT) could not have ignored order under Section 153A of the Income Tax Act as immaterial and irrelevant as no adverse...
![No adverse Inference Drawn against Assessee: Calcutta HC notes that PCIT could not have Ignored Order u/s 153A as Immaterial and Irrelevant [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Calcutta-High-Court-PCIT-immaterial-Irrelevant-Taxscan.jpg "No adverse Inference Drawn against Assessee: Calcutta HC notes that PCIT could not have Ignored Order u/s 153A as Immaterial and Irrelevant [Read Order]")
Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]
The Chennai Income Tax Appellate Tribunal (ITAT) has recently held that capital gain from sale of shares could not be treated as bogus solely on the basis of a report of the Income Tax Department. ...
![Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Capital-Gain-Sale-of-Share-Capital-Gain-from-Sale-of-Shares-Report-of-Income-Tax-Dept-ITAT-income-tax-taxscan.jpg "Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]")