![Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Addition-Concealment-Income-Penalty-ITAT-TAXSCAN.jpg "Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]")
Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]
Foundation for levy of penalty is on addition made of concealment of income, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held...
![MAT Credit of Transferee Company can be carried forward and set off against Tax Liability of Amalgamated Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/MAT-Credit-Transferee-Company-Tax-Liability-ITAT-TAXSCAN.jpeg "MAT Credit of Transferee Company can be carried forward and set off against Tax Liability of Amalgamated Company: ITAT [Read Order]")
![Income to be assessed as per MOU for Sharing Profit and Loss of Business and not on TDS deducted in Name of Assessee under PAN Number: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-MOU-profit-and-loss-of-business-TDS-PAN-Number-ITAT-taxscan.jpeg "Income to be assessed as per MOU for Sharing Profit and Loss of Business and not on TDS deducted in Name of Assessee under PAN Number: ITAT [Read Order]")
![ITAT deletes Addition as Registrar had charged Stamp Duty as per prevailing Market Value for Property [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/ITAT-registrar-stamp-duty-market-value-for-the-property-taxscan.jpg "ITAT deletes Addition as Registrar had charged Stamp Duty as per prevailing Market Value for Property [Read Order]")
![Rental Income in the Nature of Compensation for Alternate Accommodation from the developer is not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Rental-Income-Nature-of-Compensation-Alternate-Accommodation-developer-Taxable-ITAT-Taxscan.jpg "Rental Income in the Nature of Compensation for Alternate Accommodation from the developer is not Taxable: ITAT [Read Order]")
‘ IMD Bonds ’ can be treated as Securities and Therefore it does not fall within the Meaning of Any Some of Money: ITAT [Read Order]
A division bench of Mumbai ITAT including Judicial Member C.N. Prasad and Accountant Member Rajesh Kumar, recently held that ‘ IMD Bonds ’ can be treated as Securities and therefore it does not fall...
![‘ IMD Bonds ’ can be treated as Securities and Therefore it does not fall within the Meaning of Any Some of Money: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/Bonds-ITAT-Taxscan.jpg "‘ IMD Bonds ’ can be treated as Securities and Therefore it does not fall within the Meaning of Any Some of Money: ITAT [Read Order]")
Income Assessed in Subsequent Year doesn’t cause loss to Revenue when Tax Rates are Same: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai in Dy. Commissioner of Income Tax vs. M/s. Deloitte Touche Tohmatsu held that when the Tax Rates applicable in both the years is same there is no...
![Income Assessed in Subsequent Year doesn’t cause loss to Revenue when Tax Rates are Same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Tax-Rates-Taxscan.jpg "Income Assessed in Subsequent Year doesn’t cause loss to Revenue when Tax Rates are Same: ITAT [Read Order]")
![Expenditure incurred for Club Membership Fees is Allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Expenditure-Club-Membership-Fees-Deloitte-Taxscan.jpg "Expenditure incurred for Club Membership Fees is Allowable: ITAT [Read Order]")
![ITAT deletes Penalty since Notice u/s 274 was issued without Application of Mind [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Notice-Taxscan.jpg "ITAT deletes Penalty since Notice u/s 274 was issued without Application of Mind [Read Order]")
Trust is Eligible for Exemption u/s 11 even though Confusion Exists regarding the Specified Persons: ITAT [Read Order]
Mumbai bench of Income Tax Appellate Tribunal recently held that a registered trust is eligible for exemption under Section 11 of the Income Tax Act even though even though there is a confusion...
![Trust is Eligible for Exemption u/s 11 even though Confusion Exists regarding the Specified Persons: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Trust-Taxscan.jpg "Trust is Eligible for Exemption u/s 11 even though Confusion Exists regarding the Specified Persons: ITAT [Read Order]")