![ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deduction-cost-acquisition-land-acquired-allottees-govt-for-rehabilitation-dam-project-TAXSCAN.jpg "ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]")
ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench, allowed a deduction on the cost of acquisition of land acquired from allottees of the...
![ITAT upholds addition made u/s 56(2)(viib) of Income Tax Act on account of excess consideration received on Allotment of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-upholds-addition-Income-Tax-Act-Allotment-of-Shares-taxscan.jpg "ITAT upholds addition made u/s 56(2)(viib) of Income Tax Act on account of excess consideration received on Allotment of Shares [Read Order]")
![Failure to make Enquiries on Proprietary of Sale Consideration based on Seized Documents: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-make-Enquiries-Proprietary-of-Sale-Seized-Documents-ITAT-directs-Re-Adjudication-ITAT-INCOME-TAX-INCOME-TAX-ACT-TAXSCAN.jpg "Failure to make Enquiries on Proprietary of Sale Consideration based on Seized Documents: ITAT directs Re-Adjudication [Read Order]")
![Principal Commissioner has Revisional Power to Interfere Assessment order even if it is Pending Before CIT(A): Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Principal-Commissioner-Revisional-Power-Interfere-Assessment-Pending-Before-CITA-Kerala-HC-Writ-Petition-TAXSCAN.jpg "Principal Commissioner has Revisional Power to Interfere Assessment order even if it is Pending Before CIT(A): Kerala HC dismisses Writ Petition [Read Order]")
Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]
The Chennai Bench of Income tax Appellate Tribunal (ITAT) held that due to no explanation of assessee for allowability of freight expenditure and labour charges, claimed by assessee in closing stock....
![Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-assessee-freight-expenditure-labour-charges-closing-stock-ITAT-taxscan.jpg "Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]")
Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, while directing the matter of the assessee for readjudication, held that prior period income from the sale of property shall be chargeable to...
![Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Sale-of-Property-Prior-Period-Income-Income-from-Sale-of-Property-ITAT-ITAT-DELHI-INCOME-TAX-INCOME-TAX-ACT-TAXSCAN.jpg "Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]")
Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur bench, observed that goods supplied to a sister concern under a discount amount had been credited to the books of account of the assessee. Therefore,...
![Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Lower-Quality-Goods-supplied-Sister-Concern-Discount-credited-books-account-ITAT-upholds-Reassessment-TAXSCAN.jpg "Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]")
No TDS applicable u/s 194C of Income Tax Act for Purchase expenses claimed under head contract expenses: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that Tax Deduction at Source under Section 194C of the Income Tax Act, 1961, should not be applicable to purchase expenses claimed...
![No TDS applicable u/s 194C of Income Tax Act for Purchase expenses claimed under head contract expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-TDS-applicable-Income-Tax-Act-Purchase-expenses-claimed-head-contract-expenses-ITAT-TAXSCAN.jpg "No TDS applicable u/s 194C of Income Tax Act for Purchase expenses claimed under head contract expenses: ITAT [Read Order]")
Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while observing that excess interest paid to the partners of the firm was due to a mistake in the Tax audit report, directed it for...
![Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excess-interest-paid-to-partners-mistake-in-Tax-Audit-Report-ITAT-Readjudication-taxscan.jpg "Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]")
![No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-AO-Books-of-Accounts-ITAT-No-Addition-AO-without-Rejecting-Books-of-Accounts-ITAT-taxscan.jpg "No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]")
Assessment Order Passed u/s 144 rws 147 of Income Tax Act without DIN shall be treated as invalid: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench held that the assessment order passed under Section 144, read with Section 147 of the Income Tax Act, without a Document Identification Number...
![Assessment Order Passed u/s 144 rws 147 of Income Tax Act without DIN shall be treated as invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Passed-Under-Section-144-rws-ITAT-Income-Tax-Income-Tax-Act-DIN-Document-Identification-Number-TAXSCAN.jpg "Assessment Order Passed u/s 144 rws 147 of Income Tax Act without DIN shall be treated as invalid: ITAT [Read Order]")