![No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-Reassessment-in-absence-of-failure-to-fully-truly-disclose-all-material-facts-ITAT-TAXSCAN.jpg "No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]")
No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal(ITAT) has held thatthe Reassessment is not validin absence of failure to fully & truly...
![Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bonus-Paid-to-Partners-attracts-Income-Tax-Act-ITAT-allows-Income-Tax-Addition-to-Luthra-and-Luthra-LLP-TAXSCAN.jpg "Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]")
![Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-assessee-actual-transactions-LIC-Premium-taxscan.jpeg "Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]")
![ITAT quashes Assessment Order passed in Violation of Time Limit u/s 153(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-quashes-Assessment-Order-passed-in-Violation-of-Time-Limit-TAXSCAN.jpg "ITAT quashes Assessment Order passed in Violation of Time Limit u/s 153(1) [Read Order]")
![Non-Consideration of Objection to Re-Assessment Notice u/s 147 of Income Tax Act: Calcutta HC directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Non-Consideration-of-Objection-to-Re-Assessment-Notice-Income-Tax-Act-Calcutta-HC-Fresh-Adjudication-TAXSCAN.jpg "Non-Consideration of Objection to Re-Assessment Notice u/s 147 of Income Tax Act: Calcutta HC directs Fresh Adjudication [Read Order]")
Cash Gift of Rs. 39 Lakh from Husband during Assessment Proceedings was Mere Afterthought after Search: ITAT Upholds Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bench at Chennai has recently held that, the claim of the assessee, K Gomati that Rs. 39 Lakhs was received as gift from husband during the assessment...
![Cash Gift of Rs. 39 Lakh from Husband during Assessment Proceedings was Mere Afterthought after Search: ITAT Upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Cash-Gift-of-Husband-during-Assessment-Proceedings-was-Mere-Afterthought-after-Search-ITAT-Upholds-Addition-TAXSCAN.jpg "Cash Gift of Rs. 39 Lakh from Husband during Assessment Proceedings was Mere Afterthought after Search: ITAT Upholds Addition [Read Order]")
Assessing Officer must hear assessee before Issuing notice u/s 148 of Income Tax Act: Kerala HC [Read Order]
The High Court (HC) of Kerala has held that the Assessing Officer must hear the assessee before Issuing notice u/s 148 of the Income Tax Act, 1961. K Viswanath, the Petitioner has approached the...
![Assessing Officer must hear assessee before Issuing notice u/s 148 of Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Assessing-Officer-must-hear-assessee-before-Issuing-notice-Income-Tax-Act-Kerala-HC-TAXSCAN.jpg "Assessing Officer must hear assessee before Issuing notice u/s 148 of Income Tax Act: Kerala HC [Read Order]")
Non Examination of Documents and Evidences by AO: ITAT holds Violation of Natural Justice Principles [Read Order]
Income Tax Appellate Tribunal (ITAT), Surat bench consisting of Pawan Singh, Judicial Member and A L Saini, Accountant Member held that there is violation of natural justice principles on...
![Non Examination of Documents and Evidences by AO: ITAT holds Violation of Natural Justice Principles [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/documents-and-evidences-AO-ITAT-violation-of-natural-justice-principles-taxscan.jpeg "Non Examination of Documents and Evidences by AO: ITAT holds Violation of Natural Justice Principles [Read Order]")
Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]
A division bench of the Gujrath High Court by allowing a petition held that re-assessement power could not be exercised for the purpose re-verification. Assessee, Piyush Ambalal Gandhi Filed...
![Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-powers-could-not-be-exercised-for-the-purpose-of-Re-verification-Gujarat-High-Court-TAXSCAN.jpg "Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]")
No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench, has recently, in an appeal filed before it, held that no subsequent imposition of penalty can be made once the assessee has complied with...
![No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Notice-Documents-ITAT-TAXSCAN.jpg "No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]")
Addition on profit to the extent of 6% in Trading & Manufacturing of Diamonds is acceptable as per CBDT Circular: ITAT [Read Order]
The Surat bench of Income Tax Appellate Tribunal (ITAT) comprising Shri Pawan Singh, JM and Dr Arjun Lal Saini, AM has held that the addition on profit estimation needs to be done on profit to the...
![Addition on profit to the extent of 6% in Trading & Manufacturing of Diamonds is acceptable as per CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/profit-Trading-Manufacturing-Diamonds-CBDT-Circular-ITAT-taxscan.jpg "Addition on profit to the extent of 6% in Trading & Manufacturing of Diamonds is acceptable as per CBDT Circular: ITAT [Read Order]")
Failure to Produce relevant Evidence: ITAT confirms Addition of Capital Gain by Disallowing Cost of Purchase and Cost of Improvement [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi confirmed the addition of capital gain by disallowing cost of purchase and cost of improvement on failure to produce relevant evidence. The...
![Failure to Produce relevant Evidence: ITAT confirms Addition of Capital Gain by Disallowing Cost of Purchase and Cost of Improvement [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/relevant-Evidence-ITAT-Capital-Gain-Disallowing-TAXSCAN.jpeg "Failure to Produce relevant Evidence: ITAT confirms Addition of Capital Gain by Disallowing Cost of Purchase and Cost of Improvement [Read Order]")