![Order u/s 271AAC (1) of Income Tax Act: Kerala HC directs to Approach Appropriate Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Kerala-High-Court-Income-Tax-Act-Income-Tax-TAXSCAN.jpg "Order u/s 271AAC (1) of Income Tax Act: Kerala HC directs to Approach Appropriate Authority [Read Order]")
Order u/s 271AAC (1) of Income Tax Act: Kerala HC directs to Approach Appropriate Authority [Read Order]
The Kerala High Court directed to approach the appropriate authority in the matter concerning the passing of order under Section 271AAC (1) of the...
![Tax implications and neutrality of transaction play a pivotal role in determining applicability of Section 40A (2) (a) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-mumbai-Tax-Implications-in-Transactions-ITAT-Ruling-on-Tax-Neutrality-Taxation-of-Financial-Transactions-taxscan.jpg "Tax implications and neutrality of transaction play a pivotal role in determining applicability of Section 40A (2) (a) of Income Tax Act: ITAT [Read Order]")
![Income Tax cannot be levied on Income already paid: ITAT dismisses Interest u/S 234 A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-Tax-Appellate-Tribunal-income-tax-ITAT-dismisses-interest-TAXSCAN.jpg "Income Tax cannot be levied on Income already paid: ITAT dismisses Interest u/S 234 A of Income Tax Act [Read Order]")
![Set back to Bajaj Auto: ITAT allows Deduction u/s 80 IA of Income Tax Act after deducting Depreciation from Profits of eligible undertakings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Bajaj-auto-ITAT-ITAT-Mumbai-Income-tax-act-Income-tax-on-bajaj-auto-Income-tax-deduction-on-depreciation-TAXCSAN.jpg "Set back to Bajaj Auto: ITAT allows Deduction u/s 80 IA of Income Tax Act after deducting Depreciation from Profits of eligible undertakings [Read Order]")
![Surplus on Redemption of Treasury bill is to be taxed under Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Treasury-bill-redemption-tax-Income-Tax-ITAT-Mumbai-Capital-gain-Surplus-taxation-on-Treasury-bill-taxscan.jpg "Surplus on Redemption of Treasury bill is to be taxed under Capital Gains: ITAT [Read Order]")
![ITAT allows Deduction u/S 80G of Income Tax Act on CSR expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ITAT-Mumbai-Income-tax-act-ITAT-allows-deduction-Deduction-CSR-expenses-Corporate-Social-Responsibility-expenses-TAXSCAN.jpg "ITAT allows Deduction u/S 80G of Income Tax Act on CSR expenses [Read Order]")
Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on Available Evidence [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to conduct a fresh assessment due to the inadequacy of the inquiry into the source of fresh...
![Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on Available Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-delhi-Source-of-Fresh-Capital-Evidence-Based-Tax-Assessment-assessing-officer-fresh-assesement-taxscan.jpg "Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on Available Evidence [Read Order]")
Displacement of fair market value supported by valuation report by AO: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the imposition of penalty under section 271(1)(c) of the Income Tax Act 1961,citing the Assessing Officer's rejection of fair...
![Displacement of fair market value supported by valuation report by AO: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-delhi-Fair-Market-Value-Displacement-Income-Tax-Act-Penalty-Removal-Tax-Penalty-Deletion-Case-taxscan.jpg "Displacement of fair market value supported by valuation report by AO: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Non Appearance and Failure to submit Documentation in exemption claim u/S 54 of Income Tax Act: ITAT dismisses appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed appeal due to non-appearance and failure to submit documentation for exemption claim under Section 54 of the Income Tax Act 1961...
![Non Appearance and Failure to submit Documentation in exemption claim u/S 54 of Income Tax Act: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Income-Tax-Act-ITAT-dismisses-appeal-ITAT-mumbai-TAXSCAN.jpg "Non Appearance and Failure to submit Documentation in exemption claim u/S 54 of Income Tax Act: ITAT dismisses appeal [Read Order]")
![Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-chennai-Investment-in-Stock-Stock-Valuation-Difference-ITAT-ruling-on-Stock-Valuation-Difference-Unexplained-Investment-in-Stock-Valuation-taxscan.jpg "Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]")
Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes addition made u/s 68 of IT Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench while deleting the addition made under Section 68 of the Income Tax Act, 1961 held that capital gain earned from sale of shares could...
![Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes addition made u/s 68 of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Capital-Gain-Failure-to-prove-Existence-of-Firm-and-its-Succession-with-Company-ITAT-TAXSCAN.jpg "Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes addition made u/s 68 of IT Act [Read Order]")
ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench directed it to restrict to the extent of 50% of unexplained portion of cash and Gold bars received as gift from family in Navjote ceremony of...
![ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-cash-and-Gold-Bars-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]")