![Deduction reduced on account of interpretative process cannot be equated with furnishing of inaccurate particulars of Income, Penalty u/s 271(1)(c) will not sustain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Deduction-income-penalty-ITAT-taxscan.jpeg "Deduction reduced on account of interpretative process cannot be equated with furnishing of inaccurate particulars of Income, Penalty u/s 271(1)(c) will not sustain: ITAT [Read Order]")
Deduction reduced on account of interpretative process cannot be equated with furnishing of inaccurate particulars of Income, Penalty u/s 271(1)(c) will not sustain: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that deduction reduced on account of the interpretative process cannot be equated...
![Property not let out during Assessing Year is not applicable for provision u/s 23(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Property-assessing-year-provision-ITAT-taxscan.jpg "Property not let out during Assessing Year is not applicable for provision u/s 23(1)(c): ITAT [Read Order]")
![Re-Assessment cannot be made without Fresh Information regarding Escapement of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Re-Assessment-Fresh-Information-Income-ITAT-taxscan.jpg "Re-Assessment cannot be made without Fresh Information regarding Escapement of Income: ITAT [Read Order]")
![Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Revision-ITAT-Order-interest-revenue-taxscan.jpg "Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]")
Income Tax Liability won't arise for Unsecured Loan Transactions done by Group Entities: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench has held that income tax liability won't arise for unsecured loan transactions done by group entities. The Assessing Officer received...
![Income Tax Liability wont arise for Unsecured Loan Transactions done by Group Entities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Liability-Unsecured-Loan-Transactions-ITAT-taxscan.jpg "Income Tax Liability wont arise for Unsecured Loan Transactions done by Group Entities: ITAT [Read Order]")
Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]
The assessee, Rahul M. Vadodariya, preferred an appeal before the Income Tax Appellate Tribunal (ITAT), Ahmedabad against the order of the Commissioner of Income Tax (CIT) passed for the assessment...
![Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Appeal-Employee-ITAT-adjudication-taxscan.jpg "Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]")
![Income Tax Notice sent to Dead Person is Invalid: ITAT quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Notice-Dead-Person-ITAT-Re-Assessment-Taxscan.jpeg "Income Tax Notice sent to Dead Person is Invalid: ITAT quashes Re-Assessment [Read Order]")
Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to 'Mis-Reporting' [Read Order]
A division bench of the Delhi High Court comprising of Justices Manmohan and Manmeet Pritam Singh Arora has ruled that where the underreporting of income allegedly done by the assessee is due to the...
![Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to Mis-Reporting [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-AO-Delhi-HC-taxscan.jpeg "Under-reporting of Income due to Disallowance by AO: Delhi HC quashes Proceedings as it does not amount to Mis-Reporting [Read Order]")
Addition u/s 69B will sustain in absence of Authenticity of Gift received was proven with Corroborative evidence: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ITAT while considering a bunch of appeals has held that addition u/s 69B will sustain when the authenticity of the gift received was proven with...
![Addition u/s 69B will sustain in absence of Authenticity of Gift received was proven with Corroborative evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/gift-Corroborative-evidence-ITAT-taxscan.jpg "Addition u/s 69B will sustain in absence of Authenticity of Gift received was proven with Corroborative evidence: ITAT [Read Order]")
Unabsorbed Depreciation should be allowed to be carried forward and set off against Assessable Income of Subsequent Year notwithstanding fact that Business in respect of which it arose ceased to exist in year of such set-off: ITAT
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Pramod Kumar, Vice President, and Siddhartha Nautiyal, Judicial Member held that where asset purchased by the assessee has been...
Late Deposit of Employees contribution of PF but before due date of Filing Income Tax Return: ITAT sets aside disallowance by AO
The Income Tax Appellate Tribunal (ITAT), Mumbai bench consisting of Prashant Maharishi, Accountant Member and Kavitha Rajagopal, Judicial Member set aside disallowance made by Assessing Officer (AO)...
