![ITAT deletes assessment order passed u/s 153A of Income Tax Act against non existent partnership firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Non-Existent-Partnership-Firm-Partnership-Firm-Income-Tax-Act-Income-Tax-Tax-News-Existent-Partnership-Firm-Partnership-Firm-TAXSCAN.jpg "ITAT deletes assessment order passed u/s 153A of Income Tax Act against non existent partnership firm [Read Order]")
ITAT deletes assessment order passed u/s 153A of Income Tax Act against non existent partnership firm [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench, deleted the assessment order passed under Section 153A of the Income Tax Act, 1961,...
![No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Addition-AIR-information-Profit-booked-offered-to-Tax-ITAT-TAXSCAN.jpg "No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]")
![Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Cash-Cash-deposited-bogus-business-activities-Cash-deposited-in-name-of-various-proprietorship-concerns-involving-in-bogus-business-activities-taxscan.jpg "Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]")
![No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-investment-investment-books-of-Accounts-ITAT-Income-Tax-Addition-taxscan.jpg "No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]")
Merely on basis of Statement of Director of Vendor Company, Addition u/s 69B can't be made ignoring facts of Assessee Company: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that merely on the basis of the statement of the director of the vendor company an addition under Section 69B of the Income Tax Act,...
![Merely on basis of Statement of Director of Vendor Company, Addition u/s 69B cant be made ignoring facts of Assessee Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Merely-on-basis-of-Statement-Director-of-Vendor-Company-Vendor-Vendor-Company-taxscan.jpg "Merely on basis of Statement of Director of Vendor Company, Addition u/s 69B cant be made ignoring facts of Assessee Company: ITAT [Read Order]")
Issuance of Notice u/s 153C of Income Tax Act shall be Invalid Ab-Initio when no Incriminating Document found in Search: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the issuance of notice under Section 153C of the Income Tax Act, 1961 shall be invalid ab-initio when there is no incriminating...
![Issuance of Notice u/s 153C of Income Tax Act shall be Invalid Ab-Initio when no Incriminating Document found in Search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Issuance-Issuance-of-Notice-Income-Tax-Act-Income-Tax-Ab-Initio-taxscan.jpg "Issuance of Notice u/s 153C of Income Tax Act shall be Invalid Ab-Initio when no Incriminating Document found in Search: ITAT [Read Order]")
ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, has annulled the disallowance of a long-term capital loss arising from the sale of shares of a private company to its initial promoters. In this...
![ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-deletes-disallowance-Long-Term-Capital-Loss-Capital-Loss-Sale-of-Share-Share-of-private-company-private-company-initial-promoters-promoters.webp "ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]")
Sufficient time shall be given to Assessee when pending Petition and Request to keep in Abeyance Appeal Proceedings till disposal is made: ITAT grants relief to Apollo Pharmacies [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Apollo Pharmacies and held that sufficient time shall be given to the assessee when the pending petition and a request...
![Sufficient time shall be given to Assessee when pending Petition and Request to keep in Abeyance Appeal Proceedings till disposal is made: ITAT grants relief to Apollo Pharmacies [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Abeyance-Appeal-Proceedings-Apollo-Pharmacies-ITAT-grants-relief-Pharmacies-ITAT-relief-Proceedings-pending-Petition-Petition-Assessee-Taxscan.jpg "Sufficient time shall be given to Assessee when pending Petition and Request to keep in Abeyance Appeal Proceedings till disposal is made: ITAT grants relief to Apollo Pharmacies [Read Order]")
Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the order of the Commissioner of Income Tax (Appeal) [CIT(A)] due to disallowance of loss due to incorrect comprehension of Section...
![Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Disallowance-of-Loss-Incorrect-Comprehension-Income-Tax-Act-ITAT-CITA-taxscan.jpg "Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds order of CIT(A) [Read Order]")
Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while directing the reassessment of the assessee's case, held that the notice for reopening the assessment regarding the issue of capital gains...
![Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Notice-Reopening-Assessment-Capital-Gain-Notice-for-Reopening-Assessment-in-respect-of-issue-of-Capital-Gain-Deceased-Person-ITAT-taxscan.jpg "Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]")
Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to portfolio deleting the income tax addition against the consignment agent on account of purchase return. The assessee,...
![Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Relief-to-Portfolio-ITAT-Income-Tax-Addition-ITAT-Deletes-Income-Tax-Addition-Consignment-Agent-Purchase-Return-taxscan.jpg "Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]")