Aparna. M
![ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Income-Tax-Act-Due-to-Lack-of-Opportunity-to-Explain-Undisclosed-Income-Source-During-Search-Proceedings-TAXSCAN.jpg "ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]")
ITAT deletes Penalty u/s 271AAA of Income Tax Act Due to Lack of Opportunity to Explain Undisclosed Income Source During Search Proceedings [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Delhi bench deleted the penalty under section 271AAA of the Income Tax Act, 1961 due to lack of opportunity...
![Assessment Order not to be held erroneous simply on allegation of Inadequate Enquiry, without establishing a total lack of Enquiry: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-allegation-of-Inadequate-Enquiry-total-lack-of-Enquiry-ITAT-Revision-Order-taxscan.jpg "Assessment Order not to be held erroneous simply on allegation of Inadequate Enquiry, without establishing a total lack of Enquiry: ITAT quashes Revision Order [Read Order]")
![Failure to produce Audit Report in Form No. 3CEB required u/s 92E of Income Tax Act due to opinion of CA of Assessee Company: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-Audit-Report-Income-Tax-Act-Assessee-Company-CA-ITAT-Penalty-taxscan.jpg "Failure to produce Audit Report in Form No. 3CEB required u/s 92E of Income Tax Act due to opinion of CA of Assessee Company: ITAT deletes Penalty [Read Order]")
![Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Taxability-Agricultural-Land-assessee-ITAT-taxscan.jpg "Assessment Order passed without examining Taxability of Agricultural Land sold by assessee: ITAT upholds Revision Order [Read Order]")
![ITAT upholds Additions made on unaccounted Income received in Cash Towards Sale of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-upholds-Additions-unaccounted-Income-Cash-Towards-Sale-of-Shares-Sale-of-Shares-ITAT-taxscan.jpg "ITAT upholds Additions made on unaccounted Income received in Cash Towards Sale of Shares [Read Order]")
Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench while deleting additions made towards the allocation of head office expenses held that qualifying activities under Tonnage Tax Scheme (TTS) are...
![Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Qualifying-Activities-TTS-outside-provisions-TP-ITAT-addition-allocation-Head-Office-Expenses-taxscan.jpg "Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]")
No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that no transfer pricing applicable to income from operation carried out through qualifying ships taxed under Tonnage Tax Scheme(TTS). ...
![No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-transfer-pricing-applicable-income-operation-carried-qualifying-ships-taxed-under-TTS-ITAT-TAXSCAN.jpg "No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]")
Income Tax department travelled on wrong footing by holding remuneration of Partners as Salary Income: ITAT directs readjudication [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT), when ruling on the appeal, noted that the Income Tax Department had erred by classifying partners' remuneration as salary income. ...
![Income Tax department travelled on wrong footing by holding remuneration of Partners as Salary Income: ITAT directs readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Tax-department-remuneration-of-Partners-Salary-Income-ITAT-directs-readjudication-taxscan.jpg "Income Tax department travelled on wrong footing by holding remuneration of Partners as Salary Income: ITAT directs readjudication [Read Order]")
Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT) Panaji bench dismissed the appeal filed by the assessee and observed that the assessee has evaded tax by way of colourable devices and sham transactions to...
![Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Tax-evasion-Colourable-Devices-Sham-Transaction-defraud-Department-ITAT-dismisses-assessee-appeal-taxscan.jpg "Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]")
Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Mumbai bench held that income by way of statutory contribution received from the recognized stock exchange is eligible for exemption under Section 10 (23EC)...
![Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-by-way-of-Statutory-Contribution-received-from-recognized-Stock-Exchange-is-eligible-for-exemption-Income-Tax-Act-ITAT-TAXSCAN.jpg "Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) of Income Tax Act: ITAT [Read Order]")
Freight Inward charges were part and parcel of Purchase of Goods: ITAT deletes disallowance u/s 40(a)(ia) of Income Tax Act on non deduction of TDS [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that freight inward charges was part and parcel of the purchase of goods. Therefore, the bench deleted the disallowance made under...
![Freight Inward charges were part and parcel of Purchase of Goods: ITAT deletes disallowance u/s 40(a)(ia) of Income Tax Act on non deduction of TDS [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Freight-Inward-charges-part-and-parcel-Purchase-ITAT-disallowance-Income-Tax-Act-non-deduction-TDS-taxscan.jpg "Freight Inward charges were part and parcel of Purchase of Goods: ITAT deletes disallowance u/s 40(a)(ia) of Income Tax Act on non deduction of TDS [Read Order]")
Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench deleted the penalty of Rupees 132 crore imposed on Jaypee Cement for misreporting of income by the tax auditor in the tax return. Assessee...
![Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Relief-to-Jaypee-Cement-ITAT-deletes-Penalty-imposed-for-Misreported-Income-due-to-mistake-of-Tax-Auditor-TAXSCAN.jpg "Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]")