![Title Defects u/s 50C(2) of Income Tax Act: ITAT upholds CIT(A) Decision to Refer LTCG Valuation to DVO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/income-Tax-Income-Tax-Act-LTCG-Capital-Gain-DVO-TAXSCAN.webp "Title Defects u/s 50C(2) of Income Tax Act: ITAT upholds CIT(A) Decision to Refer LTCG Valuation to DVO [Read Order]")
Title Defects u/s 50C(2) of Income Tax Act: ITAT upholds CIT(A) Decision to Refer LTCG Valuation to DVO [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner Of Income Tax (Appeals)[CIT(A)]'s decision to refer Long Term...
![Restriction of Addition to Rs. 1.45 Crore Despite Shell Company Involvement: ITAT upholds CIT(A)s Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-Restriction-of-addition-Fake-company-taxscan.jpg "Restriction of Addition to Rs. 1.45 Crore Despite Shell Company Involvement: ITAT upholds CIT(A)s Order [Read Order]")
![No Material Found during Search: ITAT deletes Addition made by AO u/s 41(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-Appellate-Tribunal-ITAT-in-bangalore-AO-Assessing-Officer-Section-411-ITAT-deletes-Addition-TAXSCAN.jpg "No Material Found during Search: ITAT deletes Addition made by AO u/s 41(1) [Read Order]")
![Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Hardship-Allowances-Non-Taxable-Compensate-Dispossession-ITAT-News-taxscan.jpg "Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]")
![No Penalty after Completion of Scrutiny Assessment u/s 143(3) of IT Act, when necessary Evidence is Furnished: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Scrutiny-Assessment-Delhi-High-Court-ITAT-penalty-TAXSCAN.jpg "No Penalty after Completion of Scrutiny Assessment u/s 143(3) of IT Act, when necessary Evidence is Furnished: ITAT [Read Order]")
Consolidated Penalty u/s 271D and 271E of Income Tax Act not leviable without Specifying Individual Cash Transactions: ITAT [Read Order]
In a recent case, the Cochin Bench of Income Tax Appellate Tribunal (ITAT) held that the consolidated penalty under section 271D and 271E of Income Tax Act (ITA) cannot be levied without specifying...
![Consolidated Penalty u/s 271D and 271E of Income Tax Act not leviable without Specifying Individual Cash Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Cochin-ITAT-Income-Tax-individual-cash-transactions-Cash-Transactions-Penalty-Consolidated-Penalty-taxscan.webp "Consolidated Penalty u/s 271D and 271E of Income Tax Act not leviable without Specifying Individual Cash Transactions: ITAT [Read Order]")
Addition u/s 68 of Income Tax Act Unjustified Due to Incorrect Tax Neutrality: ITAT Sets Aside CIT(A) Order [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the Commissioner Of Income Tax(Appeals)[ CIT(A)] order, observing that the reopening of assessment was based on incorrect facts...
![Addition u/s 68 of Income Tax Act Unjustified Due to Incorrect Tax Neutrality: ITAT Sets Aside CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-Income-Tax-Commissioner-Tax-Neutrality-TAXSCAN-1.jpg "Addition u/s 68 of Income Tax Act Unjustified Due to Incorrect Tax Neutrality: ITAT Sets Aside CIT(A) Order [Read Order]")
ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal ( ITAT ) has restored the case to the Assessing Officer ( AO ) for proper verification of the unexplained cash additions totaling Rs. 18.5 lakhs,...
![ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-AO-issues-Opening-Balance-TAXSCAN.jpg "ITAT Restores Case to AO for Proper Verification of Rs. 18.5 Lakhs Unexplained Cash Additions from Opening Balance and Unsecured Loans [Read Order]")
![Section 80IA Deduction not allowable for Belated Income Tax Returns: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-Returns-Income-Tax-Appellate-Tribunal-Income-Tax-Calcutta-High-Court-ITAT-Nagpur-Section-80IA-Deduction-taxscan.jpg "Section 80IA Deduction not allowable for Belated Income Tax Returns: ITAT [Read Order]")
Relief to Vedanta: Payments for Mining Rights Acquisition through e-Auction not Income, rules Delhi HC [Read Order]
The Delhi High Court has nullified a reassessment order against Vedanta, ruling that the payment made for acquiring mining rights through e-auctions cannot be treated as income. The petitioner...
![Non-mentioning of Reason for dismissal of appeal by CIT(A): ITAT remands Income Tax matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ranchi-ITAT-Appeal-CIT-under-ITAT-TAXSCAN.jpeg "Non-mentioning of Reason for dismissal of appeal by CIT(A): ITAT remands Income Tax matter [Read Order]")
AO lacked Jurisdiction to Initiate Proceedings: ITAT quashes Order u/s 153C of Income Tax Act [Read Order]
Recently, The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) quashed an order passed under section 153C of the Income Tax ACT 1961 (ITA) against assessee for the assessment year...
![AO lacked Jurisdiction to Initiate Proceedings: ITAT quashes Order u/s 153C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Assessing-Officer-section-153C-of-the-Income-Tax-Income-Tax-Appellate-Tribunal-Jurisdiction-Taxscan.jpg "AO lacked Jurisdiction to Initiate Proceedings: ITAT quashes Order u/s 153C of Income Tax Act [Read Order]")