![No Penalty for Bonafide Mistakes in Income Tax Return filed without Assistance of Tax Consultant: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Mistakes-Income-Tax-Return-Tax-Consultant-ITAT-TAXSCAN.jpg "No Penalty for Bonafide Mistakes in Income Tax Return filed without Assistance of Tax Consultant: ITAT [Read Order]")
No Penalty for Bonafide Mistakes in Income Tax Return filed without Assistance of Tax Consultant: ITAT [Read Order]
In Virtual mode, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that penalty is not demandable for bonafide mistakes in...
![Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Doloo-Tea-Company-ITAT-Income-Tax-Addition-Taxing-Tea-bushes-Shade-Trees-TAXSCAN.jpg "Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]")
![Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/liability-still-payable-Books-of-Account-ITAT-TAXSCAN.jpeg "Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]")
![No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/violation-Payment-Cash-Purchases-Exceeding-ITAT-Revisional-Order-TAXSCAN.jpeg "No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]")
![No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-tax-compulsory-acquisition-of-land-ITAT-taxscan.jpg "No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]")
No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Patna Bench has held that no Income tax on compensation is received for compulsory acquisition of land by the government. The assessee, Shri Suresh Prasad...
![No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-tax-compensation-acquisition-of-land-Govt-ITAT-taxscan.jpg "No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]")
![Charges towards Management Support Services are allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/management-support-services-business-expenditure-ITAT.jpg "Charges towards Management Support Services are allowable as Business Expenditure: ITAT [Read Order]")
Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]
The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that statement recorded under section 133A of the Income Tax Act by themselves have no evidentiary value and upheld the...
![Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Statement-Statement-Recorded-Sec-133A-Evidentiary-Value-ITAT-Additional-Income-Income-Taxscan.jpg "Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]")
No Revision If Assessment Orders Neither Erroneous nor Prejudicial to Interest of Revenue: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Indore Bench while allowing as many as 13 appeals held that revisional jurisdiction under Section 263 of the Income Tax Act, 1961 cannot be invoked if...
![No Revision If Assessment Orders Neither Erroneous nor Prejudicial to Interest of Revenue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/assessment-orders-interest-of-revenue-ITAT-Taxscan.jpg "No Revision If Assessment Orders Neither Erroneous nor Prejudicial to Interest of Revenue: ITAT [Read Order]")
No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]
Indore bench of Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed by the Assessing Officer (AO) by considering the fact that the assessee conceded the transaction of Sale of...
![No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "No Penalty If Assessee Discloses Transaction of Sale of Agricultural Land in the hands of assessee’s HUF as the Property was Ancestral: ITAT [Read Order]")