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![AO Adds Rs. 2.37 Crore u/s 56(2)(vii)(b) for Valuation Discrepancy in Agricultural Land Purchase: ITAT directs to obtain DVO report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/agricultural-land-valuation.jpg "AO Adds Rs. 2.37 Crore u/s 56(2)(vii)(b) for Valuation Discrepancy in Agricultural Land Purchase: ITAT directs to obtain DVO report [Read Order]")
AO Adds Rs. 2.37 Crore u/s 56(2)(vii)(b) for Valuation Discrepancy in Agricultural Land Purchase: ITAT directs to obtain DVO report [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer (AO) to obtain the District Valuation Officer (DVO)...
![ITAT Deletes ₹9,640 Deduction Disallowance for LIC Premiums after AO Accepts Additional Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/itat-Deduction-Disallowance-LIC-Premiums-Additional-Evidence-income-tax-act-tax-assessment-tax-deduction-taxscan.jpg "ITAT Deletes ₹9,640 Deduction Disallowance for LIC Premiums after AO Accepts Additional Evidence [Read Order]")
![Disallowance of Indexed Construction Costs for Lack of Evidence: ITAT allows 50% as Reasonable Estimate [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Reasonable-Estimate-Lack-of-Evidence-Evidence-Disallowance-of-Indexed-Construction-Costs-taxscan.jpg "Disallowance of Indexed Construction Costs for Lack of Evidence: ITAT allows 50% as Reasonable Estimate [Read Order]")
![ITAT quashes Addition of Rs. 179 Cr, Holds Share of Profit from LLP is Exempt [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Share-of-Profit-LLP-Quashes-Addition-taxscan.jpg "ITAT quashes Addition of Rs. 179 Cr, Holds Share of Profit from LLP is Exempt [Read Order]")
![Reopening of Assessment invalid due to Inconsistency in Reasons and Addition: ITAT quashes Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-ITAT-assessment-reopening-invalid-case-TAXSCAN.jpg "Reopening of Assessment invalid due to Inconsistency in Reasons and Addition: ITAT quashes Reassessment [Read Order]")
![Income Tax Reassessment Notice issued against Dead Person is Invalid: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-Reassessment-Notice-issued-against-Dead-Person-Invalid-Notice-Taxscan.jpg "Income Tax Reassessment Notice issued against Dead Person is Invalid: Kerala HC [Read Order]")
Expenditure u/s 57 Justified with Established Income Nexus: ITAT allows to claim Deduction [Read Order]
In a recent decision, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the assessee to claim a deduction of Rs. 30.4 lakhs under Section 57 of the Income Tax Act, 1961, as...
![Expenditure u/s 57 Justified with Established Income Nexus: ITAT allows to claim Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Income-Tax-Section-57-of-Income-Tax-Act-taxscan.jpg "Expenditure u/s 57 Justified with Established Income Nexus: ITAT allows to claim Deduction [Read Order]")
![Inadequate Decision by CIT(A) on Rs. 11.45 Lacs Unexplained Money Addition: ITAT Remits Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Unexplained-Money-Commissioner-of-Income-TaxAppeals-taxscan.jpg "Inadequate Decision by CIT(A) on Rs. 11.45 Lacs Unexplained Money Addition: ITAT Remits Matter [Read Order]")
Rejection of Land Valuation by AO: ITAT Directs Referral to DVO for Expert Assessment [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) directed referral of the valuation of ancestral agricultural land to the Departmental Valuation Officer (DVO) after the Assessing Officer...
![Rejection of Land Valuation by AO: ITAT Directs Referral to DVO for Expert Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Land-Valuation-Taxscan.jpg "Rejection of Land Valuation by AO: ITAT Directs Referral to DVO for Expert Assessment [Read Order]")
![Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-HC-Delhi-High-Court-Income-Tax-Section-148-of-the-Income-Tax-Act-Concrete-Evidence-taxscan.jpg "Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]")
![CBDT Exempts 1948 formed Bengaluru Central Silk Board from Income Tax u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-Central-Silk-Board-Bengaluru-Central-Silk-Board-Income-Tax-Taxscan.jpg "CBDT Exempts 1948 formed Bengaluru Central Silk Board from Income Tax u/s 10(46) [Read Notification]")