![Agricultural Expenditure Adequacy Not verified by AO u/s 143(3), Revenue interests not sustainable: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Agricultural-Expenditure-Adequacy-AO-us-1433-Revenue-interests-not-sustainable-ITAT-quashes-assessment-order-TAXSCAN.jpg "Agricultural Expenditure Adequacy Not verified by AO u/s 143(3), Revenue interests not sustainable: ITAT quashes Assessment Order [Read Order]")
Agricultural Expenditure Adequacy Not verified by AO u/s 143(3), Revenue interests not sustainable: ITAT quashes Assessment Order [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the assessment order after finding that the Assessing Officer ( AO )...
![CBDT issues Departmental Guidelines for Filing of Income Tax Appeals before ITAT, HCs and SLPs/Appeals before Supreme Court [Read Circular]](https://www.taxscan.in/wp-content/uploads/2024/03/CBDT-CBDT-issues-Departmental-Guidelines-Filing-of-Income-Tax-Appeals-TAXSCAN.jpg "CBDT issues Departmental Guidelines for Filing of Income Tax Appeals before ITAT, HCs and SLPs/Appeals before Supreme Court [Read Circular]")
![Transport Services or Medical Expenses Reimbursement provided to non-employees excluded from FBT liability: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Transport-Services-TAXSCAN.jpeg "Transport Services or Medical Expenses Reimbursement provided to non-employees excluded from FBT liability: ITAT deletes Addition [Read Order]")
![Supreme Court Dismisses Income Tax Depts SLP in LTCG Claim on Shares Matter, Refuses to Condone 273-Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Supreme-Court-Income-Tax-Income-Tax-department-SLP-Special-Leave-Petition-TAXSCAN.jpg "Supreme Court Dismisses Income Tax Depts SLP in LTCG Claim on Shares Matter, Refuses to Condone 273-Days Delay [Read Order]")
12 Months Time limit on Filing Application for Compounding Offences: Madras HC strikes down CBDT Circular [Read Order]
The Madras High Court struck down the Central Board of Direct Taxes (CBDT) circular which fixed 12 12-month time limit on filing applications for compounding offences. Jayshree, the petitioner had...
![12 Months Time limit on Filing Application for Compounding Offences: Madras HC strikes down CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Time-limit-Filing-Filing-Application-Offences-CBDT-Circular-CBDT-taxscan.jpg "12 Months Time limit on Filing Application for Compounding Offences: Madras HC strikes down CBDT Circular [Read Order]")
Transaction of shares not being in penny stocks can't be covered by CBDT Circular: ITAT upholds order of DCIT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Transaction of shares not being in penny stocks canoot be covered by CBDT circular owing to low tax effect It was submitted...
![Transaction of shares not being in penny stocks cant be covered by CBDT Circular: ITAT upholds order of DCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Transaction-of-shares-not-being-in-penny-stocks-covered-by-CBDT-Circular-ITAT-upholds-order-of-DCIT-TAXSCAN.jpg "Transaction of shares not being in penny stocks cant be covered by CBDT Circular: ITAT upholds order of DCIT [Read Order]")
Order passed u/s 153A of Income Tax Act is invalid and deemed to have never been issued as it fails to mention DIN in its body: ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the order passed under Section 153A of the Income Tax Act, 1961 is invalid and deemed to have never been issued as it fails to...
Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that according to CBDT vide Circular No. 8/2005, the fringe benefit tax is an allowable deduction in computing book profit as per Section...
![Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fringe-Benefits-Tax-Allowable-Deduction-Computing-Book-Profit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]")
Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) condoned a delay of 264 days in filing appeal and held that the assessee is eligible for set off of excess application of income of...
![Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Allowance-of-Set-off-of-Earlier-Years-Excess-Application-from-Subsequent-Year-Surplus-Income-Income-Tax-Act-to-Charitable-Trust-ITAT-Condones-Delay-TAXSCAN.jpg "Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]")
Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that as per the CBDT (Central Board of Direct Taxes) circular, 500 gms for the assessee, 100 gms for her husband and 250 gms for her...
![Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Quantity-Gold-Jewellery-Allowable-CBDT-Circular-Unexplained-Jewellery-Income-Tax-Act-ITAT-TAXSCAN.jpg "Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]")
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-Loss-of-Chit-Fund-Utilized-Chit-Fund-Loss-of-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-ITAT-taxscan.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")