![Section 148A(c) casts Duty on AO, to consider Reply of Assessee in response to Notice before making an order u/s 148A(d) of Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Section-148Ac-AO-assessee-notice-Act-Delhi-HC-Taxscan.jpeg "Section 148A(c) casts Duty on AO, to consider Reply of Assessee in response to Notice before making an order u/s 148A(d) of Act: Delhi HC [Read Order]")
Section 148A(c) casts Duty on AO, to consider Reply of Assessee in response to Notice before making an order u/s 148A(d) of Act: Delhi HC [Read Order]
The Delhi High Court consisting of Justice Manmohan and Justice Manmeet Pritam Singh Arora held that Section 148A(c) casts duty on AO, by using the...
![Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Unverified-share-capital-material-ITAT-taxscan.jpg "Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]")
![Statement recorded u/s 133A has No Evidentiary Value if made by a person who has no connection with Assessees Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Statement-evidentiary-value-assessees-business-ITAT-taxscan.jpeg "Statement recorded u/s 133A has No Evidentiary Value if made by a person who has no connection with Assessees Business: ITAT [Read Order]")
![Payment of Incidental Charges to Arbitration: Professional Fee Bill cannot be rejected based on Narration of Payee, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Payment-Incidental-Charges-Professional-Fee-Bill-Payee-ITAT-Arbitration-Taxscan.jpeg "Payment of Incidental Charges to Arbitration: Professional Fee Bill cannot be rejected based on Narration of Payee, rules ITAT [Read Order]")
![CBDT amends Faceless Penalty Scheme, 2021, Omits Regional Faceless Penalty Centers [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/CBDT-amends-Faceless-Penalty-Scheme-2021-Omits-Regional-Faceless-Penalty-Centers-taxscan.jpg "CBDT amends Faceless Penalty Scheme, 2021, Omits Regional Faceless Penalty Centers [Read Order]")
Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Ms. Suchitra Kamble, (Judicial Member) and Shri Waseem Ahmed (Accountant Member) has observed that the consideration...
![Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Transfer-of-Marketing-Distribution-Rights-Veterinary-Products-Joint-Venture-ITAT-taxscan.jpeg "Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]")
Profit from Sale of Agricultural Land, not a 'Capital Asset', cannot be included while computing Book Profit: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Lucknow bench consisting of A. D. Jain, Vice President and T. S. Kapoor, accountant member held that profit from sale of agricultural land, not a 'capital...
![Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Profit-sale-of-agricultural-land-capital-asset-computing-book-profit-ITAT-Taxscan.jpg "Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]")
An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that an unlawful claim for deduction would not amount to “concealment of income” in order to impose a penalty under Section 271(1)(c) of...
![An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Claim-Deduction-Concealment-of-Income-ITAT-Penalty-taxscan.jpg "An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]")
Cash Transactions of Accepting Loans and Repayments due to 'Pressing Requirements': ITAT deletes Penalty for Establishing 'Reasonable Cause' [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that penalty under sections 271D and 271E of the Income Tax Act, 1961 is not leviable when cash transactions of accepting loans and...
![Cash Transactions of Accepting Loans and Repayments due to Pressing Requirements: ITAT deletes Penalty for Establishing Reasonable Cause [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Cash-Transactions-Loans-Repayments-Pressing-Requirements-ITAT-Penalty-Reasonable-Cause-Taxscan.jpeg "Cash Transactions of Accepting Loans and Repayments due to Pressing Requirements: ITAT deletes Penalty for Establishing Reasonable Cause [Read Order]")
Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the addition cannot be made solely on the basis of failure on the part of the assessee to upload the audit report electronically. ...
![Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Addition-Sole-Ground-Audit-Report-Invalid-ITAT-Adjudication-taxscan.jpg "Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]")
![Assessee failed to prove Creditworthiness of Creditors: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-Creditworthiness-Creditors-ITAT-taxscan.jpeg "Assessee failed to prove Creditworthiness of Creditors: ITAT upholds Addition u/s 68 [Read Order]")
![Assessing Officer cannot rectify an Order u/s 154 to Enhance Assessed Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessing-Officer-Assessed-Income-ITAT-taxscan.jpg "Assessing Officer cannot rectify an Order u/s 154 to Enhance Assessed Income: ITAT [Read Order]")