No assessment order can be passed in name of amalgamating company not in existence at time of issuance of notice: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that no assessment order could be passed in the name of the amalgamating company, which...
![ITAT grants fresh Adjudication for Failure of AO to Examine Additional Evidences related to Disallowance of Sales Promotion Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Adjudication-ITAT-ITAT-grants-fresh-Adjudication-Failure-of-AO-Additional-Evidences-Disallowance-Sales-Promotion-Expenses-ITAT-grants-fresh-Adjudication-for-Failure-of-AO-taxscan.jpg "ITAT grants fresh Adjudication for Failure of AO to Examine Additional Evidences related to Disallowance of Sales Promotion Expenses [Read Order]")
![Penalty u/s 270A of Income Tax Act cannot be Levied for Bonafide Mistake of Mere change in Head of Income while Computing Total Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Penalty-Income-Tax-Act-Bonafide-Mistake-Mistake-Income-Tax-Act-cannot-be-Levied-for-Bonafide-Mistake-taxscan.jpg "Penalty u/s 270A of Income Tax Act cannot be Levied for Bonafide Mistake of Mere change in Head of Income while Computing Total Income [Read Order]")
![ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ESOP-ESOP-Expenditure-Share-Capital-Capital-ESOP-Expenditure-Incurred-towards-Raising-Share-Capital-Revenue-Revenue-Expenditure-ITAT-taxscan.jpg "ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]")
Provisions of Section 43CA of Income Tax Act not Applicable to Agreement to Sale Entered and Part Payment received Prior to 01.04.2014: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the provisions of Section 43CA of the Income Tax Act 1961, would not be applicable to agreements to sale entered and part...
![Provisions of Section 43CA of Income Tax Act not Applicable to Agreement to Sale Entered and Part Payment received Prior to 01.04.2014: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provisions-Income-Tax-Act-Agreement-Agreement-to-Sale-Payment-ITAT-taxscan.jpg "Provisions of Section 43CA of Income Tax Act not Applicable to Agreement to Sale Entered and Part Payment received Prior to 01.04.2014: ITAT [Read Order]")
Change in Individual Shareholding of Shareholders doesn't attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) allowed set off of brought forward losses by holding that change in individual shareholding of the shareholders would also not attract the...
![Change in Individual Shareholding of Shareholders doesnt attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Change-Individual-Shareholding-Shareholders-attract-Income-Tax-Act-ITAT-Allows-Set-off-Brought-Forward-Lossess-taxscan.jpg "Change in Individual Shareholding of Shareholders doesnt attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]")
No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that no addition should be made under Section 44ADA of the Income Tax Act, 1961 towards the income earned from the business of...
![No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-addition-Income-Tax-Act-Income-Business-Consultancy-Service-ITAT-taxscan.jpg "No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]")
Assessment order does not contain Discussion on Legal aspects Highlighted by PCIT in Notice used u/s 263(1) of Income Tax Act: ITAT Directs Re-Adjudication as to Claim u/s 80IA(4) of Income Tax Act
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed adjudication as to claim under Section 80IA(4) of the Income Tax Act 1961 as the assessment order did not contain discussion on...
Mere Rejection of Valuation Report without Referring matter for Valuation to DVO: ITAT Directs Re-adjudication for DVO Report [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed re-adjudication for the Departmental Valuation Officer (DVO) report as the AO had merely rejected the valuation report without...
![Mere Rejection of Valuation Report without Referring matter for Valuation to DVO: ITAT Directs Re-adjudication for DVO Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Mere-Rejection-Valuation-Report-Referring-Valuation-DVO-ITAT-Re-adjudication-DVO-Report-TAXSCAN.jpg "Mere Rejection of Valuation Report without Referring matter for Valuation to DVO: ITAT Directs Re-adjudication for DVO Report [Read Order]")
Sufficiency or Correctness of Material need not be Considered at the Stage of Recording Reasons: ITAT upholds Reassessment u/s 147 of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the reassessment under Section 147 of the Income Tax Act 1961, as the sufficiency or correctness of material need not be considered...
![Sufficiency or Correctness of Material need not be Considered at the Stage of Recording Reasons: ITAT upholds Reassessment u/s 147 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Sufficiency-Sufficiency-or-Correctness-of-Material-Sufficiency-or-Correctness-of-Material-need-not-be-Considered-at-the-Stage-of-Recording-Reasons-ITAT-taxscan.jpg "Sufficiency or Correctness of Material need not be Considered at the Stage of Recording Reasons: ITAT upholds Reassessment u/s 147 of Income Tax Act [Read Order]")
AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer can initiate reassessment proceedings based on the information from the investigation wing. The...
![AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AO-Reassessment-Proceedings-based-on-information-from-Investigation-Wing-ITAT-TAXSCAN.jpg "AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]")