![Assessment order passed u/s 147 of the Income Tax Act without considering Reply of Assessee is Violative of Natural Justice Principle: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Kerala-High-Court-Income-Tax-Act-Section-147-of-the-Income-Tax-Act-natural-justice-Assessment-order-Income-Tax-taxscan.jpg "Assessment order passed u/s 147 of the Income Tax Act without considering Reply of Assessee is Violative of Natural Justice Principle: Kerala HC [Read Order]")
Assessment order passed u/s 147 of the Income Tax Act without considering Reply of Assessee is Violative of Natural Justice Principle: Kerala HC [Read Order]
The Kerala High Court held that the assessment order passed under Section 147 of the Income Tax Act, 1961 without considering the reply of the...
![Date of Allotment of Under-Construction Property cannot be Treated as “Date of Purchase”: ITAT allows Capital Gains Exemption u/s 54 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-mumbai-Capital-Gains-Income-Tax-Appellate-Tribunal-section-54-of-the-Income-Tax-provision-mandates-capital-gain-deduction-income-tax-taxscan.webp "Date of Allotment of Under-Construction Property cannot be Treated as “Date of Purchase”: ITAT allows Capital Gains Exemption u/s 54 [Read Order]")
![Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Chennai-Income-tax-Discrepancy-in-Stock-Business-Income-taxscan.jpg "Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]")
![Information from ‘Insight Portal’ Valid for Reassessment u/s 148 of Income Tax Act: Rajasthan HC dismisses Writ Petitions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Rajasthan-High-Court-Rajasthan-HC-dismisses-Writ-Petitions-Reassessment-under-section-148-taxscan.jpg "Information from ‘Insight Portal’ Valid for Reassessment u/s 148 of Income Tax Act: Rajasthan HC dismisses Writ Petitions [Read Order]")
Delay in Approaching Revision Authority under Income Tax Act is not Condonable hen Assessee Fails to Show Sufficient Reason: Kerala HC [Read Order]
The Kerala High Court has held that the delay in approaching the revision authority under the Income Tax Act is not condonable when assessee fails to show sufficient reason. During the years the...
![Delay in Approaching Revision Authority under Income Tax Act is not Condonable hen Assessee Fails to Show Sufficient Reason: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Kerala-High-Court-Revision-Authority-Income-Tax-Act-delay-condonation-tax-revision-application-taxscan-1.jpg "Delay in Approaching Revision Authority under Income Tax Act is not Condonable hen Assessee Fails to Show Sufficient Reason: Kerala HC [Read Order]")
Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the assessee has purchased agricultural land, which is outside the definition of a capital asset; therefore, the deeming...
![Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-delhi-Purchase-of-Agricultural-Land-Capital-Asset-Delhi-ITAT-Deletes-Addition-Taxation-of-Land-taxscan.jpg "Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]")
Rajasthan HC upholds ITAT Decision Deleting Addition Made on Capital Gain from Share Sale, Dismisses Income Tax Dept's Appeal [Read Order]
The Rajasthan High Court, while dismissing the appeal filed by the Income Tax Department under Section 260A of the Income Tax Act, 1961 challenging the order passed by the Income Tax Appellate...
![Rajasthan HC upholds ITAT Decision Deleting Addition Made on Capital Gain from Share Sale, Dismisses Income Tax Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Rajasthan-High-Court-ITAT-Decision-Capital-Gain-Share-Sale-Income-Tax-Dept-Appeal-taxscan.jpg "Rajasthan HC upholds ITAT Decision Deleting Addition Made on Capital Gain from Share Sale, Dismisses Income Tax Depts Appeal [Read Order]")
Income Tax Dept have Ample powers to Condone ITR Delay u/s 119(2)(b) if sufficient Reasons are found: Rajasthan HC directs to Condone Delay [Read Order]
The Rajasthan High Court has ruled in favour of the petitioner, a widow proprietor, directing to condone the 15-days delay in filing the Income Tax Returns under Section 119(2)(b) of the Income Tax...
![Income Tax Dept have Ample powers to Condone ITR Delay u/s 119(2)(b) if sufficient Reasons are found: Rajasthan HC directs to Condone Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Rajasthan-high-court-Income-tax-returns-ITR-delay-Section-119-Income-tax-act-TAXSCAN.jpg "Income Tax Dept have Ample powers to Condone ITR Delay u/s 119(2)(b) if sufficient Reasons are found: Rajasthan HC directs to Condone Delay [Read Order]")
![Calcutta HC dismiss Writ Petition on Availability of Appeal under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/calcutta-high-court-Income-Tax-Act-Calcutta-HC-Dismiss-Writ-Petition-income-tax-news-taxscan.jpg "Calcutta HC dismiss Writ Petition on Availability of Appeal under Income Tax Act [Read Order]")
Section 153C to be used for Third-Party Search Cases: Rajasthan HC quashes Income Tax Notices and Orders u/s 148 [Read Order]
In a recent ruling, the Rajasthan High Court has upheld the application of Section 153C of the Income Tax Act for third-party searches, thereby quashing income tax notices and orders issued under...
![Section 153C to be used for Third-Party Search Cases: Rajasthan HC quashes Income Tax Notices and Orders u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Section-153C-Third-Party-Search-Cases-Rajasthan-HC-Income-Tax-Notices-taxscan.jpg "Section 153C to be used for Third-Party Search Cases: Rajasthan HC quashes Income Tax Notices and Orders u/s 148 [Read Order]")