![Ex-parte order without properly serving the hearing notice: ITAT restores matter to CIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Ex-parte-order-notice-ITAT-CIT-taxscan.jpeg "Ex-parte order without properly serving the hearing notice: ITAT restores matter to CIT [Read Order]")
Ex-parte order without properly serving the hearing notice: ITAT restores matter to CIT [Read Order]
Income Tax Appellate Authority (ITAT), Hyderabad restores matter to Commissioner of Income Tax (CIT) as ex-parte order was passed without properly...
![Penalty u/s 271(1)(c) not applicable when Income Computed on Estimated Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Penalty-Income-ITAT-taxscan.jpg "Penalty u/s 271(1)(c) not applicable when Income Computed on Estimated Basis: ITAT [Read Order]")
![Mere Disallowance of Claim u/s 54F will not attract Penalty u/s 271(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Disallowance-Claim-AttractPenalty-ITAT-taxscan.jpeg "Mere Disallowance of Claim u/s 54F will not attract Penalty u/s 271(1)(c): ITAT [Read Order]")
![Tax Liability is calculated based on Cost of Acquisition u/s 49(1) When Property acquired as Gift or Will: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Tax-liability-cost-acquisition-property-gift-will-ITAT-taxscan.jpg "Tax Liability is calculated based on Cost of Acquisition u/s 49(1) When Property acquired as Gift or Will: ITAT [Read Order]")
![Securities Premium cant be Taxed as Other Income u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-Delhi-Securities-Premium-Tax-Other-Income-Income-Tax-Act-ITAT-taxscan.jpeg "Securities Premium cant be Taxed as Other Income u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]")
Third Party Statement alone not Incriminating Material for justifying Addition made in Assessment framed u/s 153A: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur bench consisting of Sandeep Gosain, Judicial Member, and Dr. Meetha Lal Meena Accountant Member held that third party statement alone, not...
![Third Party Statement alone not Incriminating Material for justifying Addition made in Assessment framed u/s 153A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Third-party-statement-material-assessment-ITAT-taxscan.jpeg "Third Party Statement alone not Incriminating Material for justifying Addition made in Assessment framed u/s 153A: ITAT [Read Order]")
Money received from House Rent and Agricultural Land deposited during Demonetization won't attract Addition u/s 69: ITAT [Read Order]
The Income Tax Appellate Tribunal, Hyderabad bench held that money received from the house rent and agricultural land deposited during demonetization won’t attract addition u/s 69 of the Income Tax...
![Money received from House Rent and Agricultural Land deposited during Demonetization wont attract Addition u/s 69: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Money-House-Rent-Agricultural-Land-deposit-demonetization-ITAT-taxscan.jpeg "Money received from House Rent and Agricultural Land deposited during Demonetization wont attract Addition u/s 69: ITAT [Read Order]")
Income Tax Assessment Order passed before Due Date of Submission of Documents as per Notice violates Natural Justice Principles: Calcutta HC [Read Order]
The Calcutta High Court has directed for fresh adjudication of income tax assessment as the Assessing Officer passed the order before the due date of submission of documents by the assessee as per...
![Income Tax Assessment Order passed before Due Date of Submission of Documents as per Notice violates Natural Justice Principles: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Assessment-Order-Documents-Notice-Natural-Justice-Principles-Calcutta-HC-taxscan.jpg "Income Tax Assessment Order passed before Due Date of Submission of Documents as per Notice violates Natural Justice Principles: Calcutta HC [Read Order]")
Interest Income earned by enterprises in Other Jurisdictions is Taxable, if attributable to the PE: ITAT [Read Order]
In a ruling, in favour of Marubeni Corporation India Pvt. Ltd, the Mumbai bench of Income Tax Appellant Tribunal has held that Interest income earned by the enterprise in other jurisdictions is...
![Interest Income earned by enterprises in Other Jurisdictions is Taxable, if attributable to the PE: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Interest-income-jurisdictions-taxable-ITAT-taxscan.jpeg "Interest Income earned by enterprises in Other Jurisdictions is Taxable, if attributable to the PE: ITAT [Read Order]")
Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench presided by S.S.Godara, Judicial Member held that prima facie belief that there is the escape of income is sufficient proof to initiate...
![Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/income-reassessment-proceedings-ITAT-taxscan.jpeg "Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]")
Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Amritsar bench has held that reopening of assessment u/s 147 of Income Tax Act 1961 would invalidate in the presence of evidence for verification of cash...
![Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Evidence-cash-deposit-assessment-ITAT-taxscan.jpeg "Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT [Read Order]")
Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi held that addition u/s 68 of Income Tax Act 1961 will not sustain in the presence of evidence which proves the authenticity of the transaction. ...
![Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Addition-evidence-authenticity-of-transaction-ITAT-Taxscan.jpg "Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]")