Aparna. M
![Filing of Revised Return and Payment of Tax After Receiving Re-Assessment Notice shows “No Willful Attempt to Escape Income”: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Revised-Return-Filing-Payment-Tax-Re-Assessment-Notice-Re-Assessment-Notice-Escape-Income-ITAT-Penalty-taxscan.jpg "Filing of Revised Return and Payment of Tax After Receiving Re-Assessment Notice shows “No Willful Attempt to Escape Income”: ITAT deletes Penalty [Read Order]")
Filing of Revised Return and Payment of Tax After Receiving Re-Assessment Notice shows “No Willful Attempt to Escape Income”: ITAT deletes Penalty [Read Order]
The Ahmedabad Income Tax Appellate Tribunal ( ITAT ) while deleting the penalty imposed by the assessing officer held that filing of revised return...
![Accepting of Share Application Money is Not “Loan” u/s 269SS of the Income Tax Act, No Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Share-Application-Money-Share-Application-Application-Money-Application-Money-Loan-Income-Tax-Act-Income-Tax-Tax-Penalty-Taxscan.jpg "Accepting of Share Application Money is Not “Loan” u/s 269SS of the Income Tax Act, No Penalty: ITAT [Read Order]")
![Charger sold along with Mobile Phone set Taxable at 5% under KVAT Act: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Charger-Mobile-Phone-KVAT-Act-Karnataka-High-court-taxscan-.jpg "Charger sold along with Mobile Phone set Taxable at 5% under KVAT Act: Karnataka HC [Read Order]")
![Supply of Work Contract Service Attract 18% GST: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Supply-of-Work-Contract-Service-Work-Contract-Service-GST-AAR-Authority-for-Advance-Ruling-taxscan-.jpg "Supply of Work Contract Service Attract 18% GST: AAR [Read Order]")
![Depreciation Allowable on Goodwill u/s 32(1)(ii) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Depreciation-Goodwill-Income-Tax-Act-ITAT-Income-Tax-Taxscan.jpg "Depreciation Allowable on Goodwill u/s 32(1)(ii) of Income Tax Act: ITAT [Read Order]")
Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]
The Ahmedabad Income Tax Appellate Authority ( ITAT ) has recently held that re-assessment of returns without the formation of belief of escapement of income based on incorrect facts is invalid. ...
![Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Re-Assessment-Escapement-of-Income-Income-Incorrect-Facts-ITAT-Taxscan.jpg "Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]")
Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]
The Pune bench of Income Tax Appellate Tribunal ( ITAT ) denied income tax deduction under section 80IB (10) of Income Tax Act 1961 to a builder because of delay in completion of housing projects...
![Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Housing-Projects-Statutory-Approval-ITAT-Income-Tax-Deduction-Income-Tax-Deduction-Builder-Taxscan.jpg "Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]")
S. 54B of Income Tax Act providing Income Tax Deduction is a Beneficial Provision, Shall be Interpreted Strictly: ITAT [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently held that section 54B of Income Tax Act 1961 provided income tax deduction and it was a beneficial provision hence it should be...
![S. 54B of Income Tax Act providing Income Tax Deduction is a Beneficial Provision, Shall be Interpreted Strictly: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Tax-Act-providing-Income-Tax-Deduction-Interpreted-Strictly-ITAT-TAXSCAN.jpg "S. 54B of Income Tax Act providing Income Tax Deduction is a Beneficial Provision, Shall be Interpreted Strictly: ITAT [Read Order]")
![Alternative Remedy Not a Bar to Challenge Re-Opening of Assessment: Madhya Pradesh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Alternative-Remedy-Assessment-Madhya-Pradesh-High-Court-Taxscan.jpg "Alternative Remedy Not a Bar to Challenge Re-Opening of Assessment: Madhya Pradesh HC [Read Order]")
Benefits under Incentive Scheme cannot be Curtailed in the name of New GST Policy: Calcutta HC [Read Order]
In a significant case Calcutta High court has held that benefit under incentive scheme could not be curtailed in the name of new Goods And service policy Jayanta Mitra and Rahul Dhanuka are...
![Benefits under Incentive Scheme cannot be Curtailed in the name of New GST Policy: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Benefits-under-Incentive-Scheme-Incentive-Scheme-New-GST-Policy-GST-Policy-GST-Calcutta-Highcourt-taxscan.jpg "Benefits under Incentive Scheme cannot be Curtailed in the name of New GST Policy: Calcutta HC [Read Order]")
AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]
The Chandigarh Income Tax Appellate Tribunal (ITAT) has recently held that assessing officers are bound to give explanation for not accepting submissions of assessee through a speaking order under...
![AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/AO-Explanation-Assessee-Income-Tax-Act-ITAT-Income-Tax-Taxscan.jpg "AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]")