![Penalty can’t be Levied for Applying Deemed Provisions of Sec 50C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty can’t be Levied for Applying Deemed Provisions of Sec 50C: ITAT [Read Order]")
Penalty can’t be Levied for Applying Deemed Provisions of Sec 50C: ITAT [Read Order]
While dismissing an appeal of revenue, Delhi bench of ITAT recently proclaimed that penalty cannot be imposed after making addition by applying deemed...
![Making of a Claim which is not Sustainable in Law would not render Penal Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Making of a Claim which is not Sustainable in Law would not render Penal Liability: ITAT [Read Order]")
Principal Commissioner is the Competent Authority to receive Revision Application: Govt Amends Central Excise Rules [Read Notification]
While amending the Central Excise (Appeals) Amendment Rules, the Central Government prescribed that revision application in form E.A.-8 can be submitted before the jurisdictional Principal...
Cabinet approves Continuation of Scheme on Indian Institute of Corporate Affairs beyond 12th Plan Period
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for continuation of the scheme on Indian Institute of Corporate Affairs (IICA) for another three financial years...
![Assessment u/s 153C without Incriminating Material is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Assessment-Taxscan.jpg "Assessment u/s 153C without Incriminating Material is Invalid: ITAT [Read Order]")
Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]
The Central Government, on Friday notified International Crops Research Institute for the Semi-Arid Tropics (‘ICRISAT’) as an eligible Scientific Research Association for the purpose of section...
![Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/11/ICRISAT-TAXSCAN.jpg "Govt Notifies Income Tax Deduction to International Crops Research Institute for the Semi-Arid Tropics [Read Notification]")
Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]
Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that section 50C of the Income Tax Act, 1961 cannot be invoked in case of a distress sale where the assessee transferred land...
![Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]")
