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![AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order] AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Cochin-Income-Tax-Income-Tax-Appellate-Tribunal-Income-Tax-Appeal-TAXSCAN.jpeg)
AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal ( ITAT ) while adjudging an Income Tax Appeal held that an Income Tax Assessment by the...


![ITAT allows Concessional Tax Rate u/s 115BAA, Citing Timely Submission of Form 10IC and CPCs Acknowledgment [Read order] ITAT allows Concessional Tax Rate u/s 115BAA, Citing Timely Submission of Form 10IC and CPCs Acknowledgment [Read order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Chennai-Income-Tax-Section-115BAA-Form-10IC-TAXSCAN.jpg)
![ITAT Upholds CIT(A) Deletion of Rs. 1.67 Cr u/s 14A Due to No Exempt Income[Read Order] ITAT Upholds CIT(A) Deletion of Rs. 1.67 Cr u/s 14A Due to No Exempt Income[Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-CITA-Deletion-us-14A-Due-to-No-Exempt-Income-TAXSCAN.jpg)
![ITAT quashes Reopening of Assessment due to Procedural Flaws in issuance of Notice [Read Order] ITAT quashes Reopening of Assessment due to Procedural Flaws in issuance of Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Reopening-of-Assessment-ITAT-quashes-assessment-reopening-Taxscan.jpg)
![ITAT Deletes ₹4.96 Crore Addition Citing Need for Fresh Valuation Instead of DVOs Seller Valuation [Read Order] ITAT Deletes ₹4.96 Crore Addition Citing Need for Fresh Valuation Instead of DVOs Seller Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-ITAT-Deletes-Addition-District-Valuation-Officer-DVO-Valuation-Income-Tax-Taxscan.jpg)
![ITAT restores Assessment for Fresh Consideration due to Lack of Fair Opportunity [Read Order] ITAT restores Assessment for Fresh Consideration due to Lack of Fair Opportunity [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Surat-Lack-of-Fair-Opportunity-ITAT-Restores-Assessment-Fresh-assessment-ordered-by-ITAT-Income-Tax-taxscan.jpg)
![Sales of ‘Kaccha Arahtia’ for Principal excluded from Turnover u/s 44AB: ITAT directs to Credit Entire TDS [Read Order] Sales of ‘Kaccha Arahtia’ for Principal excluded from Turnover u/s 44AB: ITAT directs to Credit Entire TDS [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Visakapatanam-Kaccha-Arahtia-Sales-of-Kaccha-Arahtia-TDS-Tax-Deducted-at-Source-Income-Tax-Section-44AB-of-Income-Tax-Act-taxscan.jpg)
![Relief to BPCL: CESTAT Remands Case on Excess and Short Receipts of Petroleum Products for Clarification and Reconciliation [Read Order] Relief to BPCL: CESTAT Remands Case on Excess and Short Receipts of Petroleum Products for Clarification and Reconciliation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/CESTAT-CESTAT-Bangalore-BPCL-Relief-to-BPCL-CESTAT-Remands-Case-Petroleum-Products-Petroleum-TAXSCAN.webp)
![Foreign Tax Credit already Paid: ITAT directs to Exclude Foreign Assignment Salary for Income Recomputation [Read Order] Foreign Tax Credit already Paid: ITAT directs to Exclude Foreign Assignment Salary for Income Recomputation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Foreign-Salary-Tax-Tax-Credit-ITAT-Updates-TAXSCAN.jpg)
![Traders Entitled to Exemption under Notification No. 102/2007-Cus for SAD Payments without Endorsement on Invoices: CESTAT [Read Order] Traders Entitled to Exemption under Notification No. 102/2007-Cus for SAD Payments without Endorsement on Invoices: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/CESTAT-Bangalore-Special-Additional-Duty-Customs-Duty-TAXSCAN.jpg)
![Lower Authorities passed Orders Overlooking SC Precedents: ITAT directs AO to Reconsider 80P deduction under Income Tax [Read Order] Lower Authorities passed Orders Overlooking SC Precedents: ITAT directs AO to Reconsider 80P deduction under Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Appellate-Tribunal-ITAT-Banglore-Lower-Authorities-ITAT-Directs-AO-Reconsider-80P-deduction-under-Income-Tax-Income-Tax-TAXSCAN.jpg)
![Eligibility of Concessional Duty is available on when DTA Clearances within 50% of overall Ceiling of FOB Value of Exports: CESTAT [Read Order] Eligibility of Concessional Duty is available on when DTA Clearances within 50% of overall Ceiling of FOB Value of Exports: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/CESTAT-DTA-FOB-Value-of-Exports-Eligibility-of-Concessional-Duty-Taxscan.jpg)