Fathima Karama A.M
Intimation u/s 143(1) Neither contain Adjustment, Nor Demand nor Reduction of Refund regarding Exclusion of MEIS Licence from Book Profits u/s 115JB: ITAT directs Denovo Adjudication
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed Denovo adjudication as the intimation under Section 143(1) of the Income Tax Act...
![Provisions of Section 43CA of Income Tax Act not Applicable to Agreement to Sale Entered and Part Payment received Prior to 01.04.2014: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provisions-Income-Tax-Act-Agreement-Agreement-to-Sale-Payment-ITAT-taxscan.jpg "Provisions of Section 43CA of Income Tax Act not Applicable to Agreement to Sale Entered and Part Payment received Prior to 01.04.2014: ITAT [Read Order]")
![Govt Grants Received in Lieu of FRP need not be Reduced from Cost of Capital Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Govt-Grants-Received-in-Lieu-of-FRP-FRP-Cost-Cost-of-Capital-Assets-ITAT-taxscan.jpg "Govt Grants Received in Lieu of FRP need not be Reduced from Cost of Capital Assets: ITAT [Read Order]")
![Consultancy Services cannot be Treated as FISÂ Merely because Service Provider has used Substantial Technical Skill as per India-USA DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Consultancy-Services-Treated-FIS-Merely-Service-Provider-Substantial-Technical-Skill-India-USA-DTAA-ITAT-taxscan.jpg "Consultancy Services cannot be Treated as FISÂ Merely because Service Provider has used Substantial Technical Skill as per India-USA DTAA: ITAT [Read Order]")
![Govt Grants Received in Lieu of FRP need not be Reduced from Cost of Capital Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Govt-Received-Lieu-FRP-Reduced-Cost-Capital-Assets-ITAT-TAXSCAN.jpg "Govt Grants Received in Lieu of FRP need not be Reduced from Cost of Capital Assets: ITAT [Read Order]")
Escapement Of Income not Reflected and Material Facts truly and Fully discussed at the time of Original Assessment: ITAT Sets aside Reopening after 4 years [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has set aside the reopening done after 4 years as the escapement of income was not reflected and material facts were truly and fully...
![Escapement Of Income not Reflected and Material Facts truly and Fully discussed at the time of Original Assessment: ITAT Sets aside Reopening after 4 years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Escapement-Of-Income-not-Reflected-and-Material-Facts-truly-and-Fully-discussed-time-of-Original-Assessment-ITAT-Reopening-TAXSCAN.jpg "Escapement Of Income not Reflected and Material Facts truly and Fully discussed at the time of Original Assessment: ITAT Sets aside Reopening after 4 years [Read Order]")
Distribution of food to poor people spending on cremation of diseased during Covid-19 by trust: ITAT allows registration u/s 2(15) of Income Tax Act [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has allowed registration under Section 2(15) of the Income Tax Act 1961, as the distribution of food to poor people and spending on cremation of...
![Distribution of food to poor people spending on cremation of diseased during Covid-19 by trust: ITAT allows registration u/s 2(15) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Distribution-of-food-poor-people-cremation-of-diseased-Covid-19-ITAT-Income-Tax-Act-registration-taxscan.jpg "Distribution of food to poor people spending on cremation of diseased during Covid-19 by trust: ITAT allows registration u/s 2(15) of Income Tax Act [Read Order]")
SBI Short-Term Deposit rates Applicable to Determine Interest on Trade Receivables u/s 92B(1) of Income Tax Act: ITAT [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the SBI short-term deposit rates would be applicable to determine the interest on trade receivables under Section 92B(1) of...
![SBI Short-Term Deposit rates Applicable to Determine Interest on Trade Receivables u/s 92B(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/SBI-Short-Term-Deposit-Applicable-Interest-Trade-Receivables-Income-Tax-Act-ITAT-TAXSCAN.jpg "SBI Short-Term Deposit rates Applicable to Determine Interest on Trade Receivables u/s 92B(1) of Income Tax Act: ITAT [Read Order]")
Application of Section 147 of Income Tax Act by AO having Tangible Material in Possession indicating Escapement of Income Chargeable to Tax is Valid: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the application of Section 147 of the Income Tax Act 1961, by an Assessing Officer (AO) having tangible material in possession...
![Application of Section 147 of Income Tax Act by AO having Tangible Material in Possession indicating Escapement of Income Chargeable to Tax is Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Application-Income-Tax-Act-AO-Tangible-Material-Possession-Escapement-Income-Chargeable-Tax-Valid-ITAT-TAXSCAN.jpg "Application of Section 147 of Income Tax Act by AO having Tangible Material in Possession indicating Escapement of Income Chargeable to Tax is Valid: ITAT [Read Order]")
Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI: ITAT deletes Addition u/s 68 and Disallowance of Exemption of LCG [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 68 of the Income Tax Act 1961, and disallowance of Long-term Capital Gains (LCG) the allegation of...
![Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI: ITAT deletes Addition u/s 68 and Disallowance of Exemption of LCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Allegation-of-Price-Manipulation-on-Purchase-and-Sale-of-Shares-on-Stock-Exchange-through-SEBI-ITAT-Disallowance-of-Exemption-of-LCG-TAXSCAN.jpg "Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI: ITAT deletes Addition u/s 68 and Disallowance of Exemption of LCG [Read Order]")
Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271B of the Income Tax Act 1961, would not be leviable when the assessee engaged in the business of...
![Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Leviable-Assessee-engaged-business-trading-financing-reality-commodities-Maintained-Books-Accounts-ITAT-TAXSCAN.jpg "Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]")
Assessment order does not contain Discussion on Legal aspects Highlighted by PCIT in Notice used u/s 263(1) of Income Tax Act: ITAT Directs Re-Adjudication as to Claim u/s 80IA(4) of Income Tax Act
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed adjudication as to claim under Section 80IA(4) of the Income Tax Act 1961 as the assessment order did not contain discussion on...
