![Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Violating-Sections-269SS-269T-Income-Tax-Act-Genuine-and-Bonafide-ITAT-Penalty-Order-Taxscan.jpg "Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]")
Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) concurred with the contentions of the assessee and found that there was genuine and...
![ITAT quashes Penalty Order u/s 271(1) (c) for Lack of Clarity in Particulars [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Penalty-Order-ITAT-Penalty-Order-Penalty-Lack-of-Clarity-in-Particulars-taxscan.jpg "ITAT quashes Penalty Order u/s 271(1) (c) for Lack of Clarity in Particulars [Read Order]")
![Expenses incurred for Import of Rubber Process Oil eligible for Deduction u/s 37(1) Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-incurred-for-Import-of-Rubber-Process-Oil-eligible-for-Deduction-Expenses-incurred-Expenses-Rubber-Process-Oil-Deduction-Income-Tax-Act-ITAT-Taxscan.jpg "Expenses incurred for Import of Rubber Process Oil eligible for Deduction u/s 37(1) Income Tax Act: ITAT [Read Order]")
![ITAT deletes Addition Based on Compliance with Donation Records u/s 115BBC of the Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Addition-Based-on-Compliance-with-Donation-Records-ITAT-deletes-Addition-ITAT-Addition-Income-Tax-Act-Donation-Donation-Records-Taxscan.jpg "ITAT deletes Addition Based on Compliance with Donation Records u/s 115BBC of the Income Tax Act [Read Order]")
ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the reopening of Assessment due to lack of live nexus between reasons recorded and belief formed by the Assessing Officer. ...
![ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Reopening-of-Assessment-ITAT-Reopening-of-Assessment-Assessment-Lack-of-Live-Nexus-Live-Nexus-Assessing-Officer-taxscan.jpg "ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]")
Provision of S.56(2)(viia) of IT Act shall apply to Underlying Investments Received by Amalgamated Entity on Account of Merger: ITAT
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that the provision of Section 56(2)(viia) of the Income Tax Act, 1961 shall apply to underlying investments received by...
![Assessing Officer has Right to Control the Conduct of Cross Examination During Income Tax Proceedings: Jharkhand HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessing-Officer-has-Right-to-Control-the-Conduct-of-Cross-Examination-Assessing-Officer-Cross-Examination-During-Income-Tax-Proceedings-Income-Tax-Proceedings-Jharkhand-High-Court-Taxscan.jpg "Assessing Officer has Right to Control the Conduct of Cross Examination During Income Tax Proceedings: Jharkhand HC [Read Order]")
![Brought Forward Losses can be Adjusted Against Belatedly filed ITR u/s 139(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Brought-Forward-Losses-Adjusted-Against-Belatedly-filed-ITR-ITAT-TAXSCAN.jpg "Brought Forward Losses can be Adjusted Against Belatedly filed ITR u/s 139(3): ITAT [Read Order]")
Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]
The Two Bench of Justices M.R. Shah and B.V. Nagarathna of the Supreme Court invalidated the decisions of the Income Tax Appellate Tribunal (ITAT) and the Bombay High Court in order to uphold that...
![Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Assets-Transfer-of-development-rights-Supreme-Court-Bombay-High-Court-Judgment-Stock-in-trade-Transfer-of-Development-Rights-by-Builder-is-Transfer-of-Capital-Assets-Taxscan.jpg "Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]")
Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]
The Supreme Court of India in its recent judgement upheld the order of the Income Tax Appellate Tribunal (ITAT) and Assessing Officer (AO) since the court found that Gujarat High Court quashed the...
![Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Gujarat-HC-quashed-the-Addition-of-Unexplained-Income-Gujarat-High-Court-Addition-of-Unexplained-Income-without-Detailed-Enquiry-Addition-of-Unexplained-Income-Unexplained-Income-Taxscan.jpg "Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]")