![Provisions u/s 14A of Income Tax Act not Applicable in Computing Book Profit u/s. 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/income-tax-income-tax-act-computing-book-profit-Income-Tax-Appellate-Tribunal-ITAT-TAXSCAN.jpg "Provisions u/s 14A of Income Tax Act not Applicable in Computing Book Profit u/s. 115JB: ITAT [Read Order]")
Provisions u/s 14A of Income Tax Act not Applicable in Computing Book Profit u/s. 115JB: ITAT [Read Order]
Recently, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the provisions of Section 14A of the Income Tax Act, 1961, are...
![Goodwill Depreciation: ITAT allows Depreciation Claims for AYs 2016- 18 Despite 2021 Finance Bill Exclusion [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Itat-Ahmedabad-income-tax-Depreciation-Claims-taxscan.jpg "Goodwill Depreciation: ITAT allows Depreciation Claims for AYs 2016- 18 Despite 2021 Finance Bill Exclusion [Read Order]")
![Delay may be condoned when Bona Fide Sufficient Cause is Proven, Negligence not a valid Excuse: ITAT Visakhapatnam [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Visakhapatnam-Income-Tax-Appellate-Tribunal-ITAT-delay-condonation-rules-TAXSCAN.jpg "Delay may be condoned when Bona Fide Sufficient Cause is Proven, Negligence not a valid Excuse: ITAT Visakhapatnam [Read Order]")
![Duty Drawback and License Sale Income should be included in Gross Receipts u/s 44AD for Presumptive Taxation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Duty-Drawback-License-Sale-Income-Gross-Receipts-Presumptive-Taxation-ITAT-taxscan.jpg "Duty Drawback and License Sale Income should be included in Gross Receipts u/s 44AD for Presumptive Taxation: ITAT [Read Order]")
![Punjab & Haryana HC sets aside Income Tax Notice Issued and Proceedings Initiated without Conducting Faceless Assessment u/s 144 B [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Punjab-and-Haryana-HC-Income-Tax-Notice-Faceless-Assessment-taxscan.jpg "Punjab & Haryana HC sets aside Income Tax Notice Issued and Proceedings Initiated without Conducting Faceless Assessment u/s 144 B [Read Order]")
![ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Trust-CITE-income-tax-Taxscan.jpg "ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]")
Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]
The Delhi High Court recently remitted matter back to the file of the Income Tax Appellate Tribunal (ITAT) observing that a jurisdictional Assessing Officer (AO) may initiate reassessment...
![Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Revenue-Delhi-HC-Affirms-basis-of-Third-Party-Third-Party-search-Findings-AOs-Reassessment-search-Findings-Affirms-AOs-Reassessment-taxscan.jpg "Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]")
![Valid Reason Necessary for Invoking Income Tax Reassessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-tax-Income-Tax-Appellate-Tribunal-Income-Tax-Reassessment-Income-Tax-Appeals-The-Ahmedabad-bench-Reassessment.jpg "Valid Reason Necessary for Invoking Income Tax Reassessment Proceedings: ITAT [Read Order]")
ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 4.82 crore made as unexplained cash credit in the case of the assessee, citing payments linked to genuine sales...
![ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Sales-Transactions-Cash-credit-addition-deletion-taxscan.jpg "ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]")
![S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Income-Tax-Section-68-of-Income-Tax-Act-Taxscan.jpg "S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]")
Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that an assessment cannot be deemed prejudicial to the revenue if the Assessing Officer ( AO ) has followed the Jurisdictional High...
![Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-ITAT-judgment-on-jurisdictional-High-Court-Taxscan.jpg "Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]")
ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT)Â directed the Commissioner of Income Tax (Appeals) [CIT(A)] to consider the reasons for the delay in filing an appeal after it was...
![ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-DIRECTS-INCOME-TAX-INCOME-TAX-APPEALS-Bangalore-Bench-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Filing-Appeal.jpg "ITAT directs CIT(A) to Consider Reasons for Delay in Filing Appeal after Dismissing it over 208-Day Delay [Read Order]")