![No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Mumbai-ITAT-Income-Tax-Purchase-value-vs.-Fair-Market-value-ITAT-taxscan.jpeg "No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]")
No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]
The Mumbai bench, Income Tax Appellate Tribunal ( ITAT ) held that no addition should be made under section 56(2)(x)(b)(B)(ii) of the Income Tax Act...
![Comparison has to be made between Two Equals: Bombay HC upholds ITAT order directing to Remand Matter to TPO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bombay-High-Court-Bombay-HC-ITAT-Income-Tax-TPO-Transfer-Pricing-Officer-TPO-Remand-Order-Taxscan.jpg "Comparison has to be made between Two Equals: Bombay HC upholds ITAT order directing to Remand Matter to TPO [Read Order]")
![ITAT quashes assessment order passed u/s 147Â on account of non-following safeguards provided in sections 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-assessment-order-us-147-account-non-following-safeguards-sections-148-Income-Tax-Act-Taxscan.jpg "ITAT quashes assessment order passed u/s 147Â on account of non-following safeguards provided in sections 148 of Income Tax Act [Read Order]")
![Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Powers-of-CIT-A-CIT-A-AO-ITAT-CITA-Order-taxscan.jpg "Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]")
![Kerala HC stays Income Tax Recovery Proceedings, directs CIT (A) to Pass Necessary Orders on Condonation Application and Stay Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Kerala-High-Court-Kerala-HC-Income-Tax-Recovery-Proceedings-Income-Tax-ITAT-Condonation-application-Taxscan.jpg "Kerala HC stays Income Tax Recovery Proceedings, directs CIT (A) to Pass Necessary Orders on Condonation Application and Stay Petition [Read Order]")
Income Tax Dept releases Common Offline Utility for Tax Audit Reporting Form 3CA-3CD and 3CB-3CD, updates S. 43B(h) Point No. 66
The Income Tax Department has released the latest common offline utility for Form 3CA-3CD and 3CB-3CD, bearing the latest updates with respect to MSME Payment amendment, Section 43B(h) of the Income...
Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]
In a recent decision the Madras High Court observed that the assessment order issued beyond time-limit under Section 144C(13) of the Income Tax Act, 1961 is unsustainable. The petitioner filed...
![Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Madras-High-Court-Assessment-Order-Income-Tax-Income-tax-news-taxscan.jpg "Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]")
Filing of Application in Wrong Section code in Form-10A: Orissa HC Restores Application for Registration u/s 12AB of Income Tax Act [Read Order]
The Orissa High Court restored application for registration under Section 12AB of the Income Tax Act, 1961 as there was filing of application in wrong section code in Form-10A. R.P. Kar, the...
![Filing of Application in Wrong Section code in Form-10A: Orissa HC Restores Application for Registration u/s 12AB of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Orissa-High-Court-Income-Tax-Filing-of-Application-Form-10A-TAXSCAN.jpg "Filing of Application in Wrong Section code in Form-10A: Orissa HC Restores Application for Registration u/s 12AB of Income Tax Act [Read Order]")
Period Prescribed u/s 153(3) of Income Tax Act be Computed from Date of Receipt of ITAT Order: Delhi HC [Read Order]
A Division Bench of the Delhi High Court ruled that the period prescribed under Section 153(3) of the Income Tax Act, 1961 is to be computed from the date of receipt of the order from the Income Tax...
![Period Prescribed u/s 153(3) of Income Tax Act be Computed from Date of Receipt of ITAT Order: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Delhi-High-Court-ITAT-Income-tax-Income-tax-news-Receipt-taxscan.jpg "Period Prescribed u/s 153(3) of Income Tax Act be Computed from Date of Receipt of ITAT Order: Delhi HC [Read Order]")
No Coercive Action during Lok Sabha Election against INC, says Centre to Supreme Court in Rs. 3500 Cr Income Tax Demand Matter
In a significant development on Monday, the Union Government stated before the Supreme Court that it would refrain from taking any coercive measures against the Indian National Congress ( INC )...
