Ipsita Das
![Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Invocation-of-Section-115-BBE-of-Income-Tax-Act-on-the-addition-made-on-account-of-unexplained-sundry-creditors-is-an-error-in-assessment-order-ITAT-upholds-Revision-order-TAXSCAN.jpg "Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]")
Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]
The Rajkot bench of Income Tax Appellate Tribunal (ITAT) upheld the revision order of the Principal Commissioner of Income Tax (PCIT), holding the...
![Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Extraction-Minerals-Beach-sand-Manufacturing-Process-Income-Tax-Act-ITAT-Income-Tax-Deduction-TAXSCAN.jpg "Extraction of Minerals from Beach sand is Manufacturing Process u/s 2(29BA) of Income Tax Act: ITAT allows Income Tax Deduction [Read Order]")
![Allegation of under Statement of Revenue in P&L account is Baseless as TDS is Deducted on VAT Amount: ITAT quashes Revisionary Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Allegation-Allegation-of-under-Statement-of-Revenue-Revenue-P-L-account-TDS-taxscan.jpg "Allegation of under Statement of Revenue in P&L account is Baseless as TDS is Deducted on VAT Amount: ITAT quashes Revisionary Order [Read Order]")
![Relief to Ultratech: Assesment Proceeding cannot be Reopened u/s 147 of Income Tax Act by AO due to Mere Change in Opinion [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-Ultratech-Assesment-Proceeding-cannot-be-Reopened-Ultratech-Income-Tax-Income-Tax-taxscan.jpg "Relief to Ultratech: Assesment Proceeding cannot be Reopened u/s 147 of Income Tax Act by AO due to Mere Change in Opinion [Read Order]")
Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that if there is relevant material on the basis of which a reasonable person can form a requisite belief that income chargeable to tax...
![Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Re-Assessment-Re-Assessment-Proceedings-Income-Tax-Act-Reasonable-Person-ITAT-taxscan.jpg "Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]")
Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the AO while completing the assessment under Section 147 of the Income Tax Act, 1961 was beyond the...
![Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Income-Tax-Act-Jurisdiction-ITAT-TAXSCAN.jpg "Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]")
Rejection of Application of Charitable Trust for Registration by Non- Application of Mind is not Sustainable: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the reason given by the CIT (E) to reject the application for registration under Section 12AB & 80G of the Income Tax Act, 1961...
![Rejection of Application of Charitable Trust for Registration by Non- Application of Mind is not Sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Rejection-of-Application-of-Charitable-Trust-Registration-by-Non-Application-of-Mind-Charitable-Trust-ITAT-Non-Application-of-Mind-Rejection-of-Application-taxscan.jpg "Rejection of Application of Charitable Trust for Registration by Non- Application of Mind is not Sustainable: ITAT [Read Order]")
Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that AO was not justified in assessing the sale value of shares as unexplained cash credit in both the years under consideration and...
![Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Purchase-Sale-of-Share-Registered-Stock-Broker-Demat-Account-cannot-be-Declared-as-Unexplained-Income-Income-Tax-Act-ITAT-Unexplained-Income-Demat-Account-taxscan.jpg "Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]")
Disproportionate Share of GST Revenue: Tamil Nadu Govt Sets up Committee to Study Settlement Pattern of IGST
The Tamil Nadu Government has formed a committee to study the settlement pattern of Integrated Goods and Services Tax (IGST) to the State of Tamil Nadu consisting Anand Subramaniam, Former Chief...
Penalty Notice Issued u/s 274 of Income Tax Act not Specifying Charge against Assessee is Invalid: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that show cause notice issued by the Assessing Officer (AO)Â under Section 274 read with Section 271(1)(c) of the Income Tax Act,1961 is...
![Penalty Notice Issued u/s 274 of Income Tax Act not Specifying Charge against Assessee is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Notice-Income-Tax-Act-Specifying-Charge-Assessee-ITAT-taxscan.jpg "Penalty Notice Issued u/s 274 of Income Tax Act not Specifying Charge against Assessee is Invalid: ITAT [Read Order]")
Cancellation of Registration of Charitable Trust u/s 12 AB(4) of Income Tax Act by PCIT not having Jurisdiction is Invalid: ITAT [Read Order]
The Mumbai Bench of I Income Tax Appellate Tribunal (ITAT) held that the Principal Commissioner of Income Tax (PCIT) does not have the jurisdiction to cancel the Charitable Trust under Section 12 AB...
![Cancellation of Registration of Charitable Trust u/s 12 AB(4) of Income Tax Act by PCIT not having Jurisdiction is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Cancellation-of-Registration-of-Charitable-Trust-Cancellation-of-Registration-Charitable-Trust-Income-Tax-Act-PCIT-Jurisdiction-is-Invalid-taxscan.jpg "Cancellation of Registration of Charitable Trust u/s 12 AB(4) of Income Tax Act by PCIT not having Jurisdiction is Invalid: ITAT [Read Order]")