Sunayana Dhal
![Cash generated from Sales and duly recorded in Books of Account cant be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Cash-generated-Sales-and-duly-Books-of-Account-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Cash generated from Sales and duly recorded in Books of Account cant be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
Cash generated from Sales and duly recorded in Books of Account can't be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the cash generated from sales and duly recorded in the books of account...
![AO has no Power to Reopen Assessment when an Order is passed by Income Tax Settlement Commission u/s 245D of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-has-no-Power-Reopen-Assessment-Order-is-passed-Income-Tax-Settlement-Commission-Income-Tax-Act-ITAT-TAXSCAN.jpg "AO has no Power to Reopen Assessment when an Order is passed by Income Tax Settlement Commission u/s 245D of Income Tax Act: ITAT [Read Order]")
![Amount declared as Advance in year under Consideration and offered to Tax in Subsequent year cant be again added to Income of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Amount-declared-Advance-in-year-Consideration-offered-Tax-in-Subsequent-Income-of-Assessee-ITAT-taxscan.jpg "Amount declared as Advance in year under Consideration and offered to Tax in Subsequent year cant be again added to Income of Assessee: ITAT [Read Order]")
![Income from Charitable Activities reflected as Income from Other Sources by mere Punching Error: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Charitable-Activities-Income-Other-Sources-Punching-Error-ITAT-grants-exemption-Income-Tax-Act-taxscan.jpg "Income from Charitable Activities reflected as Income from Other Sources by mere Punching Error: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]")
![Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Valuation-of-Sale-Consideration-seeking-Valuation-Report-Valuation-Officer-Income-Tax-Act-ITAT-TAXSCAN.jpg "Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]")
Penalty u/s 271(1)(b) can't be imposed if Assessee Proves that there was a Reasonable Cause for Non-Compliance of Notice: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty under Section 271(1)(b) of the Income Tax Act, 1961 cannot be imposed if the assessee proves that there was a...
![Penalty u/s 271(1)(b) cant be imposed if Assessee Proves that there was a Reasonable Cause for Non-Compliance of Notice: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Penalty-Assessee-Proves-Reasonable-Cause-Non-Compliance-Notice-ITAT-taxscan.jpg "Penalty u/s 271(1)(b) cant be imposed if Assessee Proves that there was a Reasonable Cause for Non-Compliance of Notice: ITAT [Read Order]")
Change of Chartered Accountant resulted in Non-Receiving of Notices: ITAT grants another Opportunity to Assessee [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) granted another opportunity to the assessee due to the change of chartered accountant the assessee didn’t receive the notices. The...
![Change of Chartered Accountant resulted in Non-Receiving of Notices: ITAT grants another Opportunity to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Change-Chartered-Accountant-resulted-Non-Receiving-Notices-ITAT-grants-another-Opportunity-Assessee-taxscan.jpg "Change of Chartered Accountant resulted in Non-Receiving of Notices: ITAT grants another Opportunity to Assessee [Read Order]")
Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be "Void Ab Initio": ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment order passed in the name of a non-existent entity after getting intimation of amalgamation shall be void ab...
![Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Non-Existent-Entity-Intimation-of-Amalgamation-ITAT-taxscan.jpg "Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be Void Ab Initio: ITAT [Read Order]")
Assessee adopted an Evasive/lackadaisical Approach and didn't Participate in Assessment Proceedings: ITAT upheld Addition u/s 69A of Income Tax Act [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition under Section 69A of the Income Tax Act, 1961 for the unexplained cash as the assessee adopted an evasive or...
![Assessee adopted an Evasive/lackadaisical Approach and didnt Participate in Assessment Proceedings: ITAT upheld Addition u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessee-Evasive-lackadaisical-Approach-Participate-Assessment-Proceedings-ITAT-Addition-Income-Tax-Act-TAXSCAN.jpg "Assessee adopted an Evasive/lackadaisical Approach and didnt Participate in Assessment Proceedings: ITAT upheld Addition u/s 69A of Income Tax Act [Read Order]")
Form 3CEA not filed with ITR, but filed before Final Order: ITAT allows Claim of long-term capital loss u/s 50B of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed the claim of the long-term capital loss under Section 50B of the Income Tax Act, 1961 when the Form 3CEA was not filed with the...
![Form 3CEA not filed with ITR, but filed before Final Order: ITAT allows Claim of long-term capital loss u/s 50B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Form-3CEA-ITR-Final-Order-Order-ITAT-Claim-long-term-capital-loss-Income-Tax-Act-income-tax-ITAT-taxscan.jpg "Form 3CEA not filed with ITR, but filed before Final Order: ITAT allows Claim of long-term capital loss u/s 50B of Income Tax Act [Read Order]")
Proper Procedure and Application of Mind shall be made while granting Approval u/s 153D of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to the assessee held that proper procedure and application of mind shall be made while granting approval under...
![Proper Procedure and Application of Mind shall be made while granting Approval u/s 153D of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Proper-Procedure-and-Application-of-Mind-granting-Approval-Income-Tax-Act-ITAT-TAXSCAN.jpg "Proper Procedure and Application of Mind shall be made while granting Approval u/s 153D of Income Tax Act: ITAT [Read Order]")
Power of Revision u/s 263 of Income Tax Act can't be exercised when there is Proper Enquiry made by AO: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the power of revision under Section 263 of the Income Tax Act, 1961 cannot be exercised when there is proper enquiry made by the...
![Power of Revision u/s 263 of Income Tax Act cant be exercised when there is Proper Enquiry made by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Power-of-Revision-Income-Tax-Act-exercised-there-is-Proper-Enquiry-by-AO-ITAT-TAXSCAN.jpg "Power of Revision u/s 263 of Income Tax Act cant be exercised when there is Proper Enquiry made by AO: ITAT [Read Order]")