![No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Section-147-of-Income-Tax-Act-taxscan.jpg "No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]")
No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the reassessment under section 147 of Income Tax Act,1961, stating that no...
![Assessee Proves Validity of Outstanding Trade Payables: ITAT deletes addition u/s 41( 1 ) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Addition-Taxscan.jpg "Assessee Proves Validity of Outstanding Trade Payables: ITAT deletes addition u/s 41( 1 ) [Read Order]")
ITAT directs Deletion of Rs.54L Income Tax Penalty u/s 274 r/w 270A observing No Specific Mention of Clause Invoked u/s270A [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) while adjudicating an appeal regarding concealment of Long Term Capital Gains (LTCG), directed the deletion of Income Tax Penalty of...
![ITAT directs Deletion of Rs.54L Income Tax Penalty u/s 274 r/w 270A observing No Specific Mention of Clause Invoked u/s270A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Chennai-income-tax-income-tax-news-Taxscan.jpg "ITAT directs Deletion of Rs.54L Income Tax Penalty u/s 274 r/w 270A observing No Specific Mention of Clause Invoked u/s270A [Read Order]")
No Penalty if Assessee Discloses Genuine LTCG Amount: ITAT Deletes Income Tax Penalty finding Reasonable Cause for S.269SS Non-Compliance [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore recently held that no penalty may be levied on an Assessee if they have made genuine disclosure of their Long Term Capital Gains (LTCG) while...
![No Penalty if Assessee Discloses Genuine LTCG Amount: ITAT Deletes Income Tax Penalty finding Reasonable Cause for S.269SS Non-Compliance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Income-Tax-Appellate-Tribunal-Income-Tax-Appellate-Tribunal-Bangalore-ITAT-Bangalore-LTCG-LTCG-Amount-ITAT-Deletes-Income-Tax-Penalty-Commissioner-of-Income-Taxes-CIT-Taxscan.jpg "No Penalty if Assessee Discloses Genuine LTCG Amount: ITAT Deletes Income Tax Penalty finding Reasonable Cause for S.269SS Non-Compliance [Read Order]")
Rejection of Registration of Trust Under Income Tax Act Due to Non-Compliance with Notices: ITAT Restores Matter to CIT(E) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to Commissioner of Income Tax(Exemption)[CIT(E)] for fresh consideration in a case where the registration of a trust...
![Rejection of Registration of Trust Under Income Tax Act Due to Non-Compliance with Notices: ITAT Restores Matter to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-tax-update-Income-Tax-Act-Compliance-Taxscan.jpg "Rejection of Registration of Trust Under Income Tax Act Due to Non-Compliance with Notices: ITAT Restores Matter to CIT(E) [Read Order]")
Addition of Unsecured Loans and Non-Admittance of Evidence: ITAT Remands Matter to CIT(A) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Commissioner of Income Tax (Appeal) [CIT(A)] for review of the addition of unsecured loans and non-admittance of...
![Addition of Unsecured Loans and Non-Admittance of Evidence: ITAT Remands Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Unsecured-Loan.jpg "Addition of Unsecured Loans and Non-Admittance of Evidence: ITAT Remands Matter to CIT(A) [Read Order]")
Interest Income from Deposits with Co-operative Banks Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that interest income from deposits with Co-operative Banks qualifies for deduction under section 80P(2)(d) of the Income Tax...
![Interest Income from Deposits with Co-operative Banks Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Co-operative-bank-deposits-tax.jpg "Interest Income from Deposits with Co-operative Banks Eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
AO fails to convert Limited Scrutiny to Complete, Any Addition made outside prescribed scope is invalid: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Assessing Officer ( AO ) cannot examine any other issue in Limited scrutiny except for which it was notified and any...
![AO fails to convert Limited Scrutiny to Complete, Any Addition made outside prescribed scope is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Invalid-additions-outside-scrutiny-scope-taxscan.jpg "AO fails to convert Limited Scrutiny to Complete, Any Addition made outside prescribed scope is invalid: ITAT [Read Order]")