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Draft Assessment barred by Limitation is void ab initio: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the draft assessment passed under section 144C of the Income Tax Act, 1961 is barred...

PCIT can’t assume Jurisdiction u/s 263 when various Benches of Tribunal have already decided in...

Delhi HC quashes Faceless Assessment order as no personal hearing was accorded in respect of Show...

Penalty under Wealth Tax Act can’t be levied without any specific findings: ITAT [Read Order]

Income Tax: ITAT deletes Disallowance on Finance Charges [Read Order]

Income Tax Assessment order passed in Name of Deceased person void ab-initio: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Hyderabad has dismissed an appeal filed by the revenue where in the department was appealing the maintainability of an assessing order on a deceased...

Reassessment not sustainable when Reasons for Initiation of Proceedings Ceased to Survive: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur Bench ruled that the reassessment under section 147 of the Income Tax Act was not sustainable when reasons for initiation of proceedings ceased to...

ITAT deletes Addition made on Pretext of Undisclosed Investments as No Independent Inquiry undertaken [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench deleted the addition made on the pretext of Undisclosed Investments as no independent inquiry was undertaken. The assessee, Charminar...

TPA made at entity level should be restricted to international transactions only: ITAT grants Partial Relief to Tasty Bite Eatables [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench ruled that the Transfer Pricing Adjustment (TPA) made at entity level should be restricted to international transactions only. The assessee,...

Use of Bunglow owned by Director’s Wife for Housing Company’s Staff and Guests purely ‘Business in Nature’: ITAT deletes Disallowances [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the disallowance and ruled that no disallowance to be made on Interest of Security Deposit as Bungalow on Lease used for housing...

Disallowance made without pointing out Excessive Salary not sustainable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench ruled that the disallowance made without pointing out excessive salary was not sustainable. The assessee, M/s Manav Mangal Society is...

ITAT upholds Addition as Assessee failed to utilized amount in Capital Gain Account within Statutory Period

The Income Tax Appellate Tribunal (ITAT), Delhi Bench upheld the addition as the assessee failed to utilize the amount in the capital gain account within the statutory period. The assessee, Avtar...

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