![Inability to Produce parties of Bogus Purchases and Requesting AO for Additions to Returned Income: ITAT restricted Addition from 12.5% to 6% [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Inability-Produce-parties-of-Bogus-Purchases-Requesting-Returned-Income-ITAT-restricted-TAXSCAN.jpg "Inability to Produce parties of Bogus Purchases and Requesting AO for Additions to Returned Income: ITAT restricted Addition from 12.5% to 6% [Read Order]")
Inability to Produce parties of Bogus Purchases and Requesting AO for Additions to Returned Income: ITAT restricted Addition from 12.5% to 6% [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) restricted the addition from 12.5% to 6% due to the inability to produce the parties of...
![Assessment order not to be termed erroneous if no addition in respect of cash deposit was made in reassessment proceeding: ITAT deletes addition on grounds of lack of jurisdiction u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessment-order-erroneous-cash-deposit-reassessment-proceeding-ITAT-grounds-lack-jurisdiction-taxscan.jpg "Assessment order not to be termed erroneous if no addition in respect of cash deposit was made in reassessment proceeding: ITAT deletes addition on grounds of lack of jurisdiction u/s 263 [Read Order]")
![No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Variation-in-Returned-Income-and-Assessable-Income-Returned-Income-Assessable-Income-Income-Tax-ITAT-Taxscan.jpg "No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]")
![Right to Appeal against Addition or Disallowance to Returned Income not Vitiated by Non-Compliance to Notices: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Appeal-Returned-Income-Notices-ITAT-taxscan.jpg "Right to Appeal against Addition or Disallowance to Returned Income not Vitiated by Non-Compliance to Notices: ITAT [Read Order]")
![Acceptance of Returned Income by AO after Proper Inquiry: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Returned-Income-AO-ITAT-Revisional-Order-taxscan.jpg "Acceptance of Returned Income by AO after Proper Inquiry: ITAT quashes Revisional Order [Read Order]")
Original Assessment was neither Erroneous nor Prejudicial to the Revenue: ITAT quashes Revisional Proceedings [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal has held that original assessment was neither erroneous nor prejudicial to the revenue and quashes revisional proceedings. The appellant, Deepak...
![Original Assessment was neither Erroneous nor Prejudicial to the Revenue: ITAT quashes Revisional Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Original-Assessment-Erroneous-Prejudicial-Revenue-ITAT-Revisional-Proceedings-Taxscan.jpg "Original Assessment was neither Erroneous nor Prejudicial to the Revenue: ITAT quashes Revisional Proceedings [Read Order]")
Interest on Delay in Advance Tax Installments shall be charged only on the Returned Income, Not on Assessed Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the interest on delay in payment of advancements shall be charged only on the returned income and not on the assessed income. ...
![Interest on Delay in Advance Tax Installments shall be charged only on the Returned Income, Not on Assessed Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Advance-Tax-Installments-Interest-ITAT-Mumbai-Taxscan.jpg "Interest on Delay in Advance Tax Installments shall be charged only on the Returned Income, Not on Assessed Income: ITAT [Read Order]")
Interest leviable on Default in Payment of Advance Tax installment on Returned Income, not on Assessed Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the interest payable under Section 234C is applicable on default in payment of advance tax installment on returned income, and not on...
![Interest leviable on Default in Payment of Advance Tax installment on Returned Income, not on Assessed Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Section-234C-Interest-leviable-advance-tax-installment-returned-income-assessed-income-ITAT-Taxscan.jpg "Interest leviable on Default in Payment of Advance Tax installment on Returned Income, not on Assessed Income: ITAT [Read Order]")