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ITAT allows Taxmann Publication claim of Depreciation on Intangible CMS Software [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi directed the Assessing Officer (AO) to allow the assessee, Taxmann Publication to claim depreciation...

In Accommodation Entry Business, entire Deposits can’t be assessed as Unexplained Cash Credits:...

Penalty can’t be levied for Genuine Omissions in Income Tax Returns: ITAT [Read Order]

CBDT issues Norms for Conduct of Assessment Proceedings through `E-Proceeding' Facility during...

No Penalty since Assessee surrendered Income during Assessment Proceedings: ITAT [Read Order]

Assessment Proceedings can’t be Nullified merely because of Irregularity: ITAT [Read Order]

The Ahmedabad bench of the ITAT last week said that the assessment proceedings under the Income Tax Act, 1961 cannot be invalidated merely on ground of irregularity. Assessee , an individual, has...

Assessment Proceedings cannot be Re-Open on the basis of Audit Objection, rules SC [Read Judgment]

‘Audit Objection’ cannot be construed as ‘Information’ within the meaning of Section 19 of the Bihar Finance Act, 1981. The Supreme Court of India yesterday ruled that, Assessment Proceedings...

Ambiguity - Supreme Court - Tax - Taxscan

Penalty under VAT can be levied only on the Completion of Assessment Proceedings: Madras HC [Read Order]

The division bench of the Madras High Court held that penalty under VAT can be levied only on the completion of Assessment proceedings. The sole grievance of the assessee was that the VAT authorities...

ITAT Ahmedabad allows Claim for Depreciation on Goodwill without a Revised Return during Assessment Proceedings [Read Order]

In a recent ruling, the division bench of the Ahmedabad ITAT held that Depreciation on 'goodwill' arising on amalgamation claimed by assessee company during course of assessment proceedings vide a...

Assessment Proceedings without Disclosing Full Materials against the Assessee is Invalid: Kerala HC [Read Judgment]

In a recent ruling, the division bench of the Kerala High Court held that assessments completed without full and true disclosure of material necessary for assessment during the original assessment...