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Ex Parte Order Passed by ITAT Due to Non Appearance: Calcutta HC Allows Appeal On Condition of Paying 1 Lac to Bar Association [Read Order]

In a recent case, the Calcutta High court allowed the Income Tax Appeal on condition of paying one lakh to Bar Association as the assessee prayed for...

Assessee can Apply for Registration u/s 80G(5)(iii) Within 6 Months After commencement of activity:...

Income Tax Addition On Interest Income Received Out Of FDs is Invalid In Absence Of Corroborative...

No Concealment of Income: ITAT rebukes CIT(A) for sustaining Penalty Order by AO under Wrong...

ITAT upholds CIT (A) Ruling deleting Addition Made by AO on Bogus LTCG Due to Lack of Inquiry [Read...

ITAT deletes Penalty U/s 271(1)(c) for Co-operative Bank in Liquidation, Citing Full Disclosure and Lack of Concealment [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) allowed the appeal,deleted the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 and noted that the co-operative bank in...

Submission of Professional Fee Records Deemed Sufficient: ITAT deletes Addition of Professional Fees Paid to Doctors [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 2 croes made due to the disallowance of professional fees paid to doctors under Section 37(1) of...

Deduction Claim on Building Construction Expenses: ITAT deletes Penalty on Trust for Bona Fide Error [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) cancelled the penalty levied on the assessee under Section 271(1)(c) of the Income Tax Act, 196. The ITAT found that the assessee...

Transfer of Assets of firm to Rural Area: ITAT allows Income Tax Exemptions u/s 54 G to assessee having Rs.1.22 crore Investment [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, held that to claim exemption under Section 54 of the Income Tax Act, 1961, the assessee should have made investment in an undertaking that has...

Challenge on Non-Compliance of Formalities of Taking Approval of Specified Authority u/s 151(ii) of Income Tax Act: Calcutta HC dismisses Petition [Read Order]

The Calcutta High Court dismissed the writ petition which challenge the order passed under section 148 of the Income Tax Act, 1961 on non-compliance of formalities of taking approval of specified...

Issue of Bogus Loss on Sale of Share does not arise From ITAT Order Challenged in Petition: Calcutta HC dismisses Petition [Read Order]

In a recent case, the Calcutta High Court dismissed the petition as the issue of bogus loss on sale of share doesn't arise from Income Tax Appellate Tribunal ( ITAT ) order which was challenged...

Genuineness of small-time Investments: ITAT directs AO to delete Additions of Rs.22,02,620/- [Read Order]

In a recent decision by the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ), the question of the genuineness of investments made by small-time investors in a limited company was addressed....

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