![ITAT directs Re-adjudication in respect of stamp duty valuation upon sale of inherited property to brother [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/stamp-duty-valuation-inherited-property-income-tax-directs-Re-adjudication-taxscan.jpg "ITAT directs Re-adjudication in respect of stamp duty valuation upon sale of inherited property to brother [Read Order]")
ITAT directs Re-adjudication in respect of stamp duty valuation upon sale of inherited property to brother [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed readjudication in respect of stamp duty valuation upon the sale of inherited...
![Compensation paid for closure of agreement entered with Private Company in Real Estate Development Business is allowable expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Compensation-paid-ITAT-income-tax-news-Mumbai-bench-taxscan.jpg "Compensation paid for closure of agreement entered with Private Company in Real Estate Development Business is allowable expenditure: ITAT [Read Order]")
![Employee’s contribution to PF & ESIC shall not be allowed deduction when Deposited belatedly after Due date and before filling ITR: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Employees-contribution-PF-ESIC-Employees-contribution-to-PF-ESIC-deduction-taxscan.jpg "Employee’s contribution to PF & ESIC shall not be allowed deduction when Deposited belatedly after Due date and before filling ITR: ITAT [Read Order]")
![Books of Account cant be held incorrect merely due to an Inadvertent mistake in TAR which is supported by Affidavit of Auditor: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-TAR-Affidavit-Mumbai-bench-income-tax-taxscan.jpg "Books of Account cant be held incorrect merely due to an Inadvertent mistake in TAR which is supported by Affidavit of Auditor: ITAT [Read Order]")
Addition made u/s69 of Income Tax Act towards Purchase and Sale of Shares without Sufficient Evidence: ITAT Directs Re-adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) for re-adjudication of additions made under section 69 of the Income Tax Act,1961 towards the purchase...
![Addition made u/s69 of Income Tax Act towards Purchase and Sale of Shares without Sufficient Evidence: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/without-Sufficient-Evidence-ITAT-Directs-Re-adjudication-Re-adjudication-ITAT-Directs-Tax-News-Purchase-And-Sale-Of-Share-Updates-TAXSCAN.jpg "Addition made u/s69 of Income Tax Act towards Purchase and Sale of Shares without Sufficient Evidence: ITAT Directs Re-adjudication [Read Order]")
Addition shall not be sustained solely on basis of AIR information and when Receipt declared by Assessee far exceeds the Amount: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that addition shall not be sustained on the basis of Annual Information Return (AIR) information and when the receipt declared by the...
![Addition shall not be sustained solely on basis of AIR information and when Receipt declared by Assessee far exceeds the Amount: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-AIR-information-exceeds-the-Amount-Income-Tax-Appellate-Tribunal-Income-Tax-Appellate-Annual-Information-Return-AIR-TAXSCAN.jpg "Addition shall not be sustained solely on basis of AIR information and when Receipt declared by Assessee far exceeds the Amount: ITAT [Read Order]")
Non-Adherence to Mandate of Section 250(6) of Income Tax Act by CIT(A): ITAT directs for Re-Adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication and held that there was non-adherence to the mandate of Section 250(6) of the Income Tax Act, 1961 by the...
![Non-Adherence to Mandate of Section 250(6) of Income Tax Act by CIT(A): ITAT directs for Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Mandate-of-Section-Income-Tax-Act-by-CITA-Commissioner-of-Income-Tax-Appeals-ITAT-directs-for-Re-Adjudication-Re-Adjudication-Income-Tax-Act-Income-Tax-Tax-News-TAXSCAN.jpg "Non-Adherence to Mandate of Section 250(6) of Income Tax Act by CIT(A): ITAT directs for Re-Adjudication [Read Order]")
Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that anonymous donations received by trusts carrying on religious and charitable activities, approved under Section 10(23C)(v) of the...
![Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Anonymous-Donations-Donations-Trusts-religious-and-charitable-activities-ITAT-Taxscan.jpg "Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]")
No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that no disallowance should be made under Section 14A of the Income Tax Act, 1961, when assessees have their own funds exceeding...
![No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/macro-tech-Developers-Income-Tax-Act-Investments-earning-Exempt-Income-taxscan.jpg "No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]")
PCIT has no Jurisdiction to Revise Assessment u/s 263 of the Income Tax Act When Assessment Order Attained Finality by Court Order: Madras HC [Read Order]
The Madras High Court has held that the Principal Commissioner of Income Tax (PCIT) has no jurisdiction to revise the assessment under section 263 of the Income Tax Act when the assessment order...
![PCIT has no Jurisdiction to Revise Assessment u/s 263 of the Income Tax Act When Assessment Order Attained Finality by Court Order: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Madras-High-Court-Assessment-Order-Court-Order-Jurisdiction-taxscan.jpg "PCIT has no Jurisdiction to Revise Assessment u/s 263 of the Income Tax Act When Assessment Order Attained Finality by Court Order: Madras HC [Read Order]")
No Addition on Account for Sales Suppression shall be made Solely based on Abstract Data issued by Ministry of Textiles: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that no addition on account for sales suppression shall be made solely based on the abstract data by the Ministry of Textiles. ...
![No Addition on Account for Sales Suppression shall be made Solely based on Abstract Data issued by Ministry of Textiles: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Addition-Account-Sales-Suppression-Solely-Abstract-Data-Ministry-of-Textiles-ITAT-TAXSCAN.jpg "No Addition on Account for Sales Suppression shall be made Solely based on Abstract Data issued by Ministry of Textiles: ITAT [Read Order]")