![No Penalty when Income of Assessee is determined on an Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "No Penalty when Income of Assessee is determined on an Estimate Basis: ITAT [Read Order]")
No Penalty when Income of Assessee is determined on an Estimate Basis: ITAT [Read Order]
Rajkot Income Tax Appellate Tribunal (ITAT) declared that penalty under Section 271(1)(c) of the Income Tax Act 1961 cannot be levied when the...
![CBEC to Purchase Laptops for its Officers under 1% Revenue Incremental Scheme [Read Office Memorandum]](https://www.taxscan.in/wp-content/uploads/2017/12/Laptop-Taxscan.jpg "CBEC to Purchase Laptops for its Officers under 1% Revenue Incremental Scheme [Read Office Memorandum]")
Specific Charge of Alleged Concealment and or Furnishing of Inaccurate particulars of Income is Mandatory for Levying Penalty: ITAT [Read Order]
The Income Tax Appellate Tribunal recently in its order ruled that in order to levy penalty under section 271(1) (c) of the Income Tax Act, specific charge of alleged concealment and or furnishing of...
![Specific Charge of Alleged Concealment and or Furnishing of Inaccurate particulars of Income is Mandatory for Levying Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "Specific Charge of Alleged Concealment and or Furnishing of Inaccurate particulars of Income is Mandatory for Levying Penalty: ITAT [Read Order]")
Addition in respect of Gift cannot be made merely on Conjecture or Surmises: ITAT Mumbai [Read Order]
Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that a receipt of gift cannot be taxed under section 56(2)(vi) merely on conjecture or surmises. The bench, while granting relief...
![Addition in respect of Gift cannot be made merely on Conjecture or Surmises: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Gift-Taxscan.jpg "Addition in respect of Gift cannot be made merely on Conjecture or Surmises: ITAT Mumbai [Read Order]")
![Income Tax Exemption to Manipur State Rural Road Development Agency Notified [Read Notification]](https://www.taxscan.in/wp-content/uploads/2016/08/Tax-Exemptions-Tax-Scan.jpg "Income Tax Exemption to Manipur State Rural Road Development Agency Notified [Read Notification]")
Excise Dept. cannot confiscate a Vehicle merely for the reason that it was used to Transport Liquor: Delhi High Court [Read Judgment]
Quashing the orders of the Financial Commissioner and the Excise Commissioner, the Delhi High Court held that the mere fact that the vehicle was used to transport liquor would not be sufficient for...
