![Faceless Assessment orders passed without Application of Mind liable to be set aside: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/Faceless-Assessment-Bombay-HC-substantial-costs-AO-Taxscan.jpeg "Faceless Assessment orders passed without Application of Mind liable to be set aside: Bombay HC [Read Order]")
Faceless Assessment orders passed without Application of Mind liable to be set aside: Bombay HC [Read Order]
The Bombay High Court while coming down heavily on the Tax Official, imposed the substantial costs on AO and quashed the Faceless Assessment orders...
![ITAT quashes Re-Assessment Proceedings as Information on the basis of which AO formed belief of escapement of Income was wrong [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/ITAT-Re-assessment-Proceedings-AO-Taxscan.jpg "ITAT quashes Re-Assessment Proceedings as Information on the basis of which AO formed belief of escapement of Income was wrong [Read Order]")
![Revisional Jurisdiction can’t be invoked merely because AO treated Expenses under a different Head: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/Revisional-Jurisdiction-AO-ITAT-Taxscan.jpg "Revisional Jurisdiction can’t be invoked merely because AO treated Expenses under a different Head: ITAT [Read Order]")
![ITAT directs AO to Verify reconciliation chart of Cenvat Credit taken and utilized along with supporting Documentary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/ITAT-AO-Cenvat-credit-Taxscan.jpeg "ITAT directs AO to Verify reconciliation chart of Cenvat Credit taken and utilized along with supporting Documentary Evidence [Read Order]")
Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while remitting the matter back to the Assessing Officer (AO) ruled that the Karnataka Judicial Officers Credit Co-operative Society entitled...
![Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Karnataka-Judicial-Officers-Credit-Co-operative-Society-Income-Tax-Deduction-proportionate-cost-ITAT-AO-Taxscan.jpg "Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]")
Disallowance of Interest can’t be made where Interest-Free Funds are sufficient to cover Interest-Free Investments: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the disallowance of interest can not be made where interest-free funds are sufficient to cover interest-free investments. The...
![Disallowance of Interest can’t be made where Interest-Free Funds are sufficient to cover Interest-Free Investments: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Disallowance-of-interest-interest-free-funds-interest-free-investments-ITAT-Taxscan.jpg "Disallowance of Interest can’t be made where Interest-Free Funds are sufficient to cover Interest-Free Investments: ITAT [Read Order]")
Assessee entitled to Depreciation on Exchange Fluctuation on Assets acquired in India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the assessee entitled to depreciation on exchange fluctuation in respect of assets acquired in India. The assessee, M/s Paramount...
No Addition can be made for TP Adjustment related to Specified Domestic Transactions: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench ruled that no addition can be made for Transfer Pricing adjustment related to Specified Domestic Transactions. The assessee has been engaged in...
![No Addition can be made for TP Adjustment related to Specified Domestic Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/TP-adjustment-Specified-Domestic-Transactions-ITAT-Taxscan.jpg "No Addition can be made for TP Adjustment related to Specified Domestic Transactions: ITAT [Read Order]")
Income Tax: No Penalty leviable if Addition made on Bogus Purchases is on estimated basis, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that penalty is not leviable if addition made on bogus purchases is on an estimated basis. The assessee, M/s. Toshvin Analytical...
![No Addition can be made on account of Unsecured Loans if assessee proves Genuineness: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/unsecured-loans-ITAT-Taxscan.jpg "No Addition can be made on account of Unsecured Loans if assessee proves Genuineness: ITAT [Read Order]")
Swiss Account cannot be Taxed in India If no incriminating evidence found against Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the Swiss account cannot be taxed in India if no incriminating evidence is found against the assessee. The assessee, Late Shri...
![Swiss Account cannot be Taxed in India If no incriminating evidence found against Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Swiss-account-ITAT-Taxscan.jpg "Swiss Account cannot be Taxed in India If no incriminating evidence found against Assessee: ITAT [Read Order]")