This weekly round-up analytically summarizes the key stories related to the Authority of Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from December 6 to December 11, 2021.
Vijayshree Food Products P. Ltd. Vs. ACIT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the Addition cannot be made on evidence of a third party without granting the cross-examination to the assessee.
In a major relief to PC Jwellers, the Income Tax Appellate Tribunal (ITAT) has granted the Deduction on Expense of Education Cess as it does not fall under capital expense, personal expenditure.
Dashratbhai Gopalbhai Patel Vs. ITO
The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that the Capital gains arising on sale of agricultural land which is not a capital asset shall not be chargeable to Income tax.
M/s Chet Ram Ravi Kumar Vs. DCIT
The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench held that the assessment order passed barred by limitation cannot be extended under guise of special audit referred by AO.
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition for Unexplained Cash Credit as it was not based on incriminating material found during the course of search operations.
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