AO cannot Change Opinion in Matters involving Similar Facts: Delhi HC upholds Principle of Consistency
The division bench of Delhi High Court has held that Assessing Officer cannot change opinion in matters involving similar facts and upholds Principle...
![Assessing officer should comply with the condition precedent for reopening assessments after limitation: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Assessing-officer-assessments-Calcutta-High-Court-Taxscan.jpg "Assessing officer should comply with the condition precedent for reopening assessments after limitation: Calcutta HC [Read Order]")
![Re-Assessment can be initiated on Disclosure of Bogus Purchase Bills: Chhattisgarh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Re-Assessment-Bogus-Purchase-Bills-Chhattisgarh-HC-taxscan.jpg "Re-Assessment can be initiated on Disclosure of Bogus Purchase Bills: Chhattisgarh HC [Read Order]")
![Dept cannot claim that Time limits are Not Mandatory: Madras HC asks TPO to Pass Order Determining ALP within 60 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Dept-Madras-HC-TPO-ALP-taxscan.jpeg "Dept cannot claim that Time limits are Not Mandatory: Madras HC asks TPO to Pass Order Determining ALP within 60 Days [Read Order]")
![CBDT notifies Rules relating to Taxation of Income from Retirement Benefit Account maintained in a Notified Country [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/04/CBDT-Taxation-Retirement-Benefit-Account-maintained-Notified-Country-TAXSCAN.jpeg "CBDT notifies Rules relating to Taxation of Income from Retirement Benefit Account maintained in a Notified Country [Read Notification]")
![Customs House Agent bound to pay TDS On Payment to CFS Agents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Customs-House-Agent-TDS-Payment-CFS-Agents-ITAT-taxscan.jpg "Customs House Agent bound to pay TDS On Payment to CFS Agents: ITAT [Read Order]")
Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]
The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that statement recorded under section 133A of the Income Tax Act by themselves have no evidentiary value and upheld the...
![Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Statement-Statement-Recorded-Sec-133A-Evidentiary-Value-ITAT-Additional-Income-Income-Taxscan.jpg "Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]")
Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding a penalty order passed under section 271F of the Income Tax Act, 1961 held that the declaration of income under the Income...
![Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Declaration-of-income-IDS-Income-Tax-Return-ITAT-Penalty-Taxsscan.jpg "Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]")
Income received in Excess of Face Value of Shares u/s 56 of Income Tax Act is Taxable: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has ruled that, Income received in Excess of Face Value of Shares under Section 56 of the Income Tax Act is Taxable. The assessee is...
Initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business: Madras HC [Read Judgment]
The Madras High Court has ruled that the initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business. The appellant /...
![Initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/02/l-Assessment-year-year-deduction-business-Madras-HC-taxscan.jpeg "Initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business: Madras HC [Read Judgment]")
Restriction of 8 years for Carry Forward, set-off of Unabsorbed Depreciation had been dispensed with: ITAT allows Assessee to Carry Forward Depreciation Loss [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed assessee to carry forward the depreciation loss pertaining to the assessment year 1997-98 on the gound that the restriction of 8...
![Restriction of 8 years for Carry Forward, set-off of Unabsorbed Depreciation had been dispensed with: ITAT allows Assessee to Carry Forward Depreciation Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Restriction-8-years-unabsorbed-depreciation-depreciation-ITAT-assesse-depreciation-loss-loss-Taxscan.jpg "Restriction of 8 years for Carry Forward, set-off of Unabsorbed Depreciation had been dispensed with: ITAT allows Assessee to Carry Forward Depreciation Loss [Read Order]")
Latest Amendment to Sec 36(1)(va) and 43B of Income Tax Act has no Retrospective Effect: ITAT allows Deduction [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), while allowing deduction to the assessee, M/s BI Worldwide India Pvt. Ltd, held that the latest amendment to section 36(1)(va) and 43B...
![Latest Amendment to Sec 36(1)(va) and 43B of Income Tax Act has no Retrospective Effect: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Latest-Amendment-Amendment-S.-361va-43B-of-Income-Tax-Act-Income-tax-act-Retrospective-Effect-ITAT-Deduction-Taxscan.jpg "Latest Amendment to Sec 36(1)(va) and 43B of Income Tax Act has no Retrospective Effect: ITAT allows Deduction [Read Order]")