Aparna. M
![Income Tax Penalty u/s 271E cannot be Imposed Mechanically: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Penalty-Income-Tax-ITAT-taxscan.jpg "Income Tax Penalty u/s 271E cannot be Imposed Mechanically: ITAT [Read Order]")
Income Tax Penalty u/s 271E cannot be Imposed Mechanically: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that Income Tax Penalty under section 271E of Income Tax Act 1961 could not be...
![ITAT Allows 50% as Capital Gain Exemption u/s 54 to Joint Owner of Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/ITAT-Capital-Gain-Exemption-Joint-Owner-of-Property-Owner-of-Property-Property-Taxscan.jpg "ITAT Allows 50% as Capital Gain Exemption u/s 54 to Joint Owner of Property: ITAT [Read Order]")
![“It is a Human Nature to Forget Things Which is Out of Mind”: ITAT Condones Delay of 36 Days by NRI [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Human-Nature-ITAT-Condones-Delay-NRI-Taxscan.jpg "“It is a Human Nature to Forget Things Which is Out of Mind”: ITAT Condones Delay of 36 Days by NRI [Read Order]")
Inflated Sales during Demonetization Period to be Computed After Considering Average Sales of Prior One Year: ITAT [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) recently held that inflated sales during demonetization period to be computed after considering average sales of prior one year. The...
![Inflated Sales during Demonetization Period to be Computed After Considering Average Sales of Prior One Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Average-Sales-Demonetization-ITAT-Income-Tax-Tax-taxscan.jpg "Inflated Sales during Demonetization Period to be Computed After Considering Average Sales of Prior One Year: ITAT [Read Order]")
AO cannot Disturb Assessment /Re- Assessment attained Finality Except during proceeding u/s 153A: ITAT [Read Order]
The Chandigarh bench of Income Tax Appellate Tribunal (ITAT) recently held that the Assessing Officer could not disturb assessment order or re-assessment order which has attained finality except...
![AO cannot Disturb Assessment /Re- Assessment attained Finality Except during proceeding u/s 153A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/AO-Assessment-Re-Assessment-ITAT-TAXSCAN.jpg "AO cannot Disturb Assessment /Re- Assessment attained Finality Except during proceeding u/s 153A: ITAT [Read Order]")
![Interest on Late Payment of Direct Taxes Not Deductible under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Interest-Interest-on-Late-Payment-of-Direct-Taxes-Direct-Taxes-Late-Payment-Late-Payment-of-Direct-Taxes-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Interest on Late Payment of Direct Taxes Not Deductible under Income Tax Act: ITAT [Read Order]")
![No TDS on Software Trading If Sales Tax is Already Remitted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/TDS-on-Software-Trading-TDS-Sales-Tax-ITAT-Income-Tax-taxscan.jpg "No TDS on Software Trading If Sales Tax is Already Remitted: ITAT [Read Order]")
“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]
The Indore bench of Income Tax Appellate Tribunal ( ITAT ) recently held that in case of “loan given” Penalty under section 271D Income Tax Act 1961 would be invalid. The fact of the case is that...
![“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Loan-Cash-Exceeding-Penalty-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]")
Replacement Expenditure cannot be treated as “Current Repairs”: ITAT denies Revenue Expenditure Claim [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) recently denied revenue expenditure claim and held that replacement expenditure could not be treated as current repairs. Assessee Tanfac...
![Replacement Expenditure cannot be treated as “Current Repairs”: ITAT denies Revenue Expenditure Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Replacement-Current-Repairs-ITAT-Revenue-Expenditure-Claim-TAXSCAN.jpg "Replacement Expenditure cannot be treated as “Current Repairs”: ITAT denies Revenue Expenditure Claim [Read Order]")