![Assessing Officer cannot Change his Opinion in Immediate Next Assessment Year without there being any change in Facts & Circumstances: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Assessing-Officer-Assessment-Year-ITAT-Next-Assessment-Year-Facts-Circumstances-Taxscan.jpeg "Assessing Officer cannot Change his Opinion in Immediate Next Assessment Year without there being any change in Facts & Circumstances: ITAT [Read Order]")
Assessing Officer cannot Change his Opinion in Immediate Next Assessment Year without there being any change in Facts & Circumstances: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while quashing an order denying depreciation to the assessee, has held that the...
![Bonafide Mistakes during Initial Year of Income Tax E-Assessment can be Ignored: ITAT deletes Income Tax Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Bonafide-Bonafide-Mistakes-Initial-Year-Income-Tax-E-Assessment-Income-Tax-E-Assessment-ITAT-Income-Tax-Penalty-Taxscan.jpg "Bonafide Mistakes during Initial Year of Income Tax E-Assessment can be Ignored: ITAT deletes Income Tax Penalty [Read Order]")
![Excess Payment of Advance Tax ignored while Calculating Interest u/s 234C: ITAT directs AO to Verify Calculation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Excess-Payment-Advance-Tax-ITAT-AO-Taxscan.jpg "Excess Payment of Advance Tax ignored while Calculating Interest u/s 234C: ITAT directs AO to Verify Calculation [Read Order]")
![No TDS Liability on Holding Company on the Share Purchase Transaction by its Subsidiary: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/TDS-Liability-Holding-Company-Share-Purchase-Transaction-Subsidiary-Bombay-High-Court-Taxscan.jpeg "No TDS Liability on Holding Company on the Share Purchase Transaction by its Subsidiary: Bombay HC [Read Order]")
![High Court’s Appellate Jurisdiction is limited to the fact that Tribunal is the Final Fact-Finding Authority: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/High-Courts-Appellate-Jurisdiction-Tribunal-Fact-Finding-Authority-Delhi-HC-Taxscan.jpg "High Court’s Appellate Jurisdiction is limited to the fact that Tribunal is the Final Fact-Finding Authority: Delhi HC [Read Order]")
Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received on loan given to related party for business purpose cannot be subjected to provisions of section...
![Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Interest-Loan-party-business-Income-Tax-Act-taxscan.jpg "Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]")
Profit Attribution not required since Indian AE is remunerated at Arm's Length Price: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that when the Indian A.E. is remunerated at arm's length price no further profit attribution is required under the provisions of the...
![Profit Attribution not required since Indian AE is remunerated at Arms Length Price: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Profit-Indian-AE-Arms-Length-Price-ITAT-taxscan.jpeg "Profit Attribution not required since Indian AE is remunerated at Arms Length Price: ITAT [Read Order]")
Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption shall be allowed since it was found on physical inquiry that the new asset purchased is a...
![Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Newly-Purchased-Asset-Residential-Property-Physical-Inquiry-ITAT-Capital-Gain-Exemption-Taxscan.jpeg "Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]")
Capital Gain to be determined as per Share of Parties in Property, Internal Family Arrangement need not be considered: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the capital gains shall be determined according to the respective share of the parties in residential property and not according...
![Capital Gain to be determined as per Share of Parties in Property, Internal Family Arrangement need not be considered: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Capital-Gain-Share-of-Parties-Property-Internal-Family-Arrangement-ITAT-Taxscan.jpg "Capital Gain to be determined as per Share of Parties in Property, Internal Family Arrangement need not be considered: ITAT [Read Order]")
Delhi HC quashes Re-Assessment Notice for want of Rational Nexus/Reason to Believe for Escapement of Income [Read Order]
The Delhi High Court has recently quashed a re-assessment notice as there was no rational nexus or reason to believe for the escapement of income under the provisions of the Income Tax Act, 1961. ...
![Delhi HC quashes Re-Assessment Notice for want of Rational Nexus/Reason to Believe for Escapement of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Delhi-High-Court-Re-Assessment-Notice-Rational-Nexus-Escapement-Income-Taxscan.jpeg "Delhi HC quashes Re-Assessment Notice for want of Rational Nexus/Reason to Believe for Escapement of Income [Read Order]")
![ITAT deletes Penalty since AO issued Notice without specifying Charge [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Penalty-Assessing-Officer-AO-Notice-Charge-Taxscan.jpg "ITAT deletes Penalty since AO issued Notice without specifying Charge [Read Order]")