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ITAT Rejects DVO Valuations, Ensures Equal Treatment Among Co-owners [Read Order]

Eeva Mary Sanil

In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal( ITAT) rejected DVO valuations and ensured equal treatment among...

Delhi High Court - Dispute Resolution Panel - DRP objections pending cases - DRP objections - taxscan

Validity of Final Assessment Order Despite Pending DRP Objections: Delhi HC sets aside the Order...

Inapplicability of 12A(1)(ba) Amendment for 2017-18 AY: ITAT grants Temple Trust Exemptions u/s...

Section 14A Disallowance: ITAT Directs Restricting Disallowance to Rs. 12 Lakh, Following Previous...

Inapplicability of Advance Tax u/s 249(4): ITAT remands Case to CIT(A) for Re-examination [Read...

No Concealment of Income Found: ITAT Sets Aside Penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961 concluding there was no furnishing of inaccurate particulars of...

ITAT sets aside Income Tax Addition due to lack of proper persuasion before Authorities, directs Re examination of Egg Traders Account [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) held that the additions made by the Assessing Officer ( AO ) cannot be sustained due to lack of proper persuasion by the appellant before...

Assessee Forgot to Claim 'Long Term Capital Loss' in Income Tax Return: Gujarat HC directs to seek Revision u/s 264 [Read Order]

The Gujarat High Court in a recent case directed the assessee, who failed to claim 'Long Term Capital Loss' in its Income Tax return, to seek revision under Section 264 of the Income Tax Act, 1961....

ITAT remands Case to CIT(A) for further Adjudication on AO's Corrigendum in Tax Assessment Orders [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to the Commissioner of Income Tax (Appeals) (CIT(A)) for further adjudication regarding the Assessing Officer's ( AO )...

Important Income Tax Forms Due by November 30, 2024

By the end of this November, there are several income tax forms under the Income-tax Act, 1961, which are to be filed by November 30th, to avoid penalties. Thus, proper compliance with these income...

ITAT allows Concessional Tax Rate u/s 115BAA, Citing Timely Submission of Form 10IC and CPC's Acknowledgment [Read order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the concessional tax rate under Section 115BAA of Income Tax Act,1961 for the assessee, on account of the timely submission of Form...

ITAT Restores Matter to AO for De Novo Adjudication on Alleged Bogus Purchases, Allowing Additional Evidence [Read Order]

The Chennai Bench Of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Assessing Officer ( AO ) for de novo adjudication concerning alleged bogus purchases by the assessee, allowing...