![Revenue not Justified in Addition made based on Rough Noting on Loose Sheets: ITAT quashes S.40 Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-ITAT-Quashes-Income-Tax-Section-40A3-the-Income-Tax-Act-Loose-Sheets-taxscan.jpg "Revenue not Justified in Addition made based on Rough Noting on Loose Sheets: ITAT quashes S.40 Income Tax Addition [Read Order]")
"Revenue not Justified in Addition made based on Rough Noting on Loose Sheets": ITAT quashes S.40 Income Tax Addition [Read Order]
In a recent decision, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore quashed an addition made under Section 40A(3) the Income Tax Act, 1961...
![ITAT deletes ₹9.84 Lakh Addition u/s 69A after Verifying Cash Deposits Linked to ₹10 Lakh Earlier Withdrawal, not Additional Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-cash-deposits-Section-69A-of-Income-Tax-Act-TAXSCAN.jpg "ITAT deletes ₹9.84 Lakh Addition u/s 69A after Verifying Cash Deposits Linked to ₹10 Lakh Earlier Withdrawal, not Additional Income [Read Order]")
![Patna HC sets aside GST Demand Order Lacking Date making Appeal Limitation Indeterminable [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Patna-High-Court-GST-Demand-Order-GST-Demand-GST-Taxscan.jpg "Patna HC sets aside GST Demand Order Lacking Date making Appeal Limitation Indeterminable [Read Order]")
![Co-operative Societies offering Credit Facilities can claim Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Co-operative-societies-credit-facilities-Income-Tax-Deduction-Deduction-under-Section-80P-Tax-benefits-for-co-operative-societies-Section-80P-income-tax-taxscan.jpg "Co-operative Societies offering Credit Facilities can claim Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]")
Failure to Refer Valuation of Land to DVO after Satisfying Conditions of S. 50C(2) of Income Tax Act: ITAT directs De Novo Adjudication [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the Assessing Officer ( AO ) erred by not referring the land valuation to the Departmental Valuation Officer ( DVO ) under...
![Failure to Refer Valuation of Land to DVO after Satisfying Conditions of S. 50C(2) of Income Tax Act: ITAT directs De Novo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Mumbai-ITAT-ruling-on-land-valuation-de-novo-process-TAXSCAN.jpg "Failure to Refer Valuation of Land to DVO after Satisfying Conditions of S. 50C(2) of Income Tax Act: ITAT directs De Novo Adjudication [Read Order]")
Failure to Comply 2 Year Old Guidelines for Cancelling GST Registration: Gujarat HC criticizes GST Authority [Read Order]
In a recent case, the Gujarat High Court criticized the GST authorities over their failure to comply with two years old guidelines issued in Aggrawal Dyeing & Printing vs. State of Gujarat...
![Failure to Comply 2 Year Old Guidelines for Cancelling GST Registration: Gujarat HC criticizes GST Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Gujarat-High-Court-Gujarat-HC-GST-GST-Registration-GST-Registration-Cancellation-taxscan.jpg "Failure to Comply 2 Year Old Guidelines for Cancelling GST Registration: Gujarat HC criticizes GST Authority [Read Order]")
Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the amendment to Section 14A of the Income tax Act, 1961 which aimed to clarify the law, cannot be applied retrospectively if it...
![Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-ITAT-Law-TAXSCAN.jpeg "Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]")
Failure of CA to appear before AO Results in Ex-Parte Income Tax Assessment: Karnataka High Court quashes Order [Read Order]
In a recent ruling, the Karnataka High Court quashed income tax assessment order, ruling that the petitioner had entrusted the case to a Chartered Accountant, who was unable to appear before the...
![Failure of CA to appear before AO Results in Ex-Parte Income Tax Assessment: Karnataka High Court quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Karnataka-High-Court-Income-Tax-Assessment-Income-Tax-Chartered-Accountant-Ex-parte-income-tax-assessment-taxscan.jpg "Failure of CA to appear before AO Results in Ex-Parte Income Tax Assessment: Karnataka High Court quashes Order [Read Order]")
Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]
In a significant ruling, the Karnataka High Court has directed the refund of Rs. 17.48 crore, which was erroneously adjusted towards an Income Tax demand, along with interest. The petitioner, LSI...
![Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Icome-Tax-Income-Tax-Demand-Karnataka-High-Court-TAXSCAN.jpg "Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]")
Single Satisfaction Note Sufficient u/s 153C When Same Assessing Officer Handles Both Searched Person and Other Party: Madras HC [Read Order]
In a recent ruling, the Madras High Court ruled that a single satisfaction note was sufficient under Section 153C of the Income Tax Act, 1961, when the same assessing officer handles both searched...
![Single Satisfaction Note Sufficient u/s 153C When Same Assessing Officer Handles Both Searched Person and Other Party: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Madras-High-Court-Single-Satisfaction-Note-TAXSCAN.jpg "Single Satisfaction Note Sufficient u/s 153C When Same Assessing Officer Handles Both Searched Person and Other Party: Madras HC [Read Order]")
Guidance Value of Land or Building Should be used to Determine Consideration Where Transfer Value of Capital Asset is not determinable: ITAT [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal(ITAT)ruled that the guidance value of land or building should be used to determine the consideration when the transfer value of a capital asset is...
![Guidance Value of Land or Building Should be used to Determine Consideration Where Transfer Value of Capital Asset is not determinable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/site-imd-28.jpg "Guidance Value of Land or Building Should be used to Determine Consideration Where Transfer Value of Capital Asset is not determinable: ITAT [Read Order]")