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S. 153C Applicable to Searches Prior to Finance Act, 2015 Also: Delhi HC remands Income Tax Matter [Read Order]

Arjun A P

The Delhi High Court remanded the Income Tax Matter to the Appellate Tribunal stating that Section 153C of the Income Tax Act, 1961 is also...

ITAT upholds CIT(A) Decision on Exemption u/s 11 Despite ITR-6 Filing, Citing Consistency in Tax...

S.14A Disallowance not Applicable when Exempt Income is not Gained: Delhi HC dismisses Income Tax...

Date of Submission of claim would be Recognized under Income Tax on accrual of Cash Incentive:...

ITAT remands Case to CIT(A) for Fresh Review, Citing Procedural Deficiencies in Assessment Order...

ITAT allows Concessional Tax Rate u/s 115BAA, Citing Timely Submission of Form 10IC and CPC's Acknowledgment [Read order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the concessional tax rate under Section 115BAA of Income Tax Act,1961 for the assessee, on account of the timely submission of Form...

Relief to ASAN Memorial Association: ITAT Approves Statutory Deduction Claim Despite Filing Error in Income Tax Return [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ITAT) granted relief to ASAN Memorial Association, allowing its statutory deduction claim under Section 11(1)(a) of Income Tax Act,1961 despite a...

ITAT Restores Matter to AO for De Novo Adjudication on Alleged Bogus Purchases, Allowing Additional Evidence [Read Order]

The Chennai Bench Of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Assessing Officer ( AO ) for de novo adjudication concerning alleged bogus purchases by the assessee, allowing...

Reassessment Notice sent to Tax Consultant’s email ID goes Uninformed to Taxpayer: ITAT remands Notice [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal remanded the Income Tax notice, which was sent to the Email ID of the tax consultant of the taxpayer, in which he failed to inform the assessee...

FDRs Created as Business Necessity Mandated by PNB for Infrastructure Project Financing: ITAT allows Deduction u/s 80-IA(4) [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a deduction under Section 80-IA(4) of the Income Tax Act, 1961, stating that the Fixed Deposit Receipts ( FDRs ) mandated by...

Substitution of Legally Sustainable View taken by AO u/s 263 Revision Proceedings Invalid: ITAT [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) invalidated the action of the Principal Commissioner of Income Tax ( PCIT ) in initiating revisionary proceedings...

Reliance Solely on Investigation Report: ITAT upholds Deletion of ₹1.5Cr Addition [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai, recently in a judgment, upheld the deletion of a ₹1.5 crore addition initially imposed on one assessee/appellant, Amal Corporation, as it was...

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