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Proceedings u/s 12A of SEBI Act should be Initiated within Reasonable Time: SAT quashes Order Passed by the AO [Read Order]

The Mumbai Securities Appellate Tribunal ( SAT ) has held that proceedings u/s 12A of the Securities and Exchange Board of India (SEBI) Act should be...

Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets:...

Penalty Notice issued in a Stereotyped manner without applying mind is Invalid: ITAT [Read Order]

Govt Grant Received by Trust towards Specific Projects to Achieve Objects of the Trust Constitutes...

ITAT directs to Follow the Principle of Consistency; Dept. Cannot Reject the Methodology Followed...

Raising Objection is a Valuable Legal Right of Assessee, Dept cannot deny it: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the raising of the objection against the income tax proceedings, being a valuable legal right of the assessee, cannot be denied by...

Penalty Notice without specifying the Charge proves Non-application of Mind, Invalid: ITAT [Read Order]

The New Delhi bench of the ITAT has held that a penalty notice, issued in a stereotyped manner without specifying the specific limb as mentioned in section 271(1)(c) of the Income Tax Act, 1961 shall...

Assessee bound to Satisfactorily Explain the Credit appeared in BoA with Necessary Evidence: ITAT upholds Addition [Read Order]

While upholding an Assessment order for unexplained credit under section 69 of the Income Tax Act, 1961, the Chennai bench of the ITAT held that it is the duty of the assessee to satisfactorily...

Subscriber Fee not Taxable as Royalty as per India-Singapore DTAA: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal has held that the subscriber fee would not be taxable as “royalty” as per the India-Singapore Double Taxation Avoidance Agreement (DTAA) or under...

Revisional Authority shall conduct Inquiry If Reason for Invoking S. 263 was that AO did not undertake any Enquiry: ITAT [Read Order]

The ITAT, Delhi bench has held that if the Revisional authority is of the view that the AO did not undertake any enquiry, it becomes incumbent on the Revisional Authority to conduct such enquiry to...

Re-Assessment solely based on Information from Investigation Wing is Invalid without Independent Inquiry by AO: ITAT [Read Order]

The Delhi bench of the ITAT comprising Shri R. K. Panda, Accountant Member and Shri N. K. Choudhry, Judicial Member has held that the re-assessment under section 147 and 148 of the Income Tax Act,...

Income Tax Proceedings after Amalgamation not Valid: ITAT quashes Order against Honda Cars India [Read Order]

The Income Tax Appellate Tribunal, Delhi bench has held that the proceedings against the amalgamated company after amalgamation cannot be sustainable under the Law and thereby quashed the income tax...

Income Tax - Amalgamation - ITAT - Honda Cars - India - quashes Order - Taxscan

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