![Reassessment based on Mere Change of Opinion is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-ITAT-TAXSCAN.jpeg "Reassessment based on Mere Change of Opinion is Invalid: ITAT [Read Order]")
Reassessment based on Mere Change of Opinion is Invalid: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench held that reassessment on mere change of opinion is invalid. The appeal has been preferred by...
![Service Expenses Towards abandoned Film not to be Disallowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Service-Expenses-Towards-abandoned-Film-Disallowed-ITAT-TAXSCAN.jpg "Service Expenses Towards abandoned Film not to be Disallowed: ITAT [Read Order]")
![Non-consideration of Partnership Deed and Supplementary Deed furnished by Assessee: ITAT sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/consideration-Partnership-Supplementary-Assessee-ITAT-Assessment-Order-TAXSCAN.jpg "Non-consideration of Partnership Deed and Supplementary Deed furnished by Assessee: ITAT sets aside Assessment Order [Read Order]")
![Non-Compliance with Notice issued as Assessee not well versed with Electronic Gadgets: ITAT restores to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Notice-issued-Assessee-Electronic-Gadgets-ITAT-restores-CITA-TAXSCAN-1.jpeg "Non-Compliance with Notice issued as Assessee not well versed with Electronic Gadgets: ITAT restores to CIT(A) [Read Order]")
![Contract by Exclusive Dealer of Bentley Cars with Indian Customers for Extended Warranty does not create a PE: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Exclusive-Dealer-Bentley-Cars-Indian-Customers-Extended-Warranty-ITAT-TAXSCAN.jpg "Contract by Exclusive Dealer of Bentley Cars with Indian Customers for Extended Warranty does not create a PE: ITAT [Read Order]")
![Software Development Expenditure is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Software-Development-Expenditure-Revenue-ITAT-taxscan.jpg "Software Development Expenditure is Revenue in Nature: ITAT [Read Order]")
![Capital Gains Prior to 1st April 2003, Section 50c Not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Gains-Prior-ITAT-TAXSCAN.jpg "Capital Gains Prior to 1st April 2003, Section 50c Not Applicable: ITAT [Read Order]")
Application of Valuation method of Rule 11UA upon Preferential Shares: ITAT deletes Addition of Rs 72 Lakhs [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi deleted addition of Rupees 72 lakhs as there was application of valuation method of Rule 11UA upon preferential shares. The assessee company,...
![Application of Valuation method of Rule 11UA upon Preferential Shares: ITAT deletes Addition of Rs 72 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Application-Valuation-Preferential-Shares-ITAT-Addition-TAXSCAN.jpg "Application of Valuation method of Rule 11UA upon Preferential Shares: ITAT deletes Addition of Rs 72 Lakhs [Read Order]")
Setting aside of Assessment by citing jurisdictional defect is Technical Error: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench deleted penalty and held that setting aside of assessment by citing jurisdictional defect is technical error. The assessee in the present...
![Setting aside of Assessment by citing jurisdictional defect is Technical Error: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessment-jurisdictional-Technical-ITAT-Penalty-TAXSCAN.jpg "Setting aside of Assessment by citing jurisdictional defect is Technical Error: ITAT deletes Penalty [Read Order]")
ITAT allows Expenses Incurred for R&D: Biotechnology R&D Expenses to be Deducted as Revenue Expenditure [Read Order]
The Income Tax Appellate Authority at Chennai has held that, the disallowance made by the Assessing Officer (AO) and as confirmed by Commissioner of Income Tax (Appeals) [CIT(A)] is not sustainable...
![ITAT allows Expenses Incurred for R&D: Biotechnology R&D Expenses to be Deducted as Revenue Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Research-and-Development-Expenses-Biotechnology-RD-Expenses-Revenue-Expenditure-taxscan.jpg "ITAT allows Expenses Incurred for R&D: Biotechnology R&D Expenses to be Deducted as Revenue Expenditure [Read Order]")
Exfacie delay in depositing TDS within due date: ITAT Upholds Proceedings against Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench dismissed appeal filed as there was ex facie delay in depositing TDS within due date. The assessee, Pandharpur Municipal Council is a Municipal...
![Exfacie delay in depositing TDS within due date: ITAT Upholds Proceedings against Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Exfacie-delay-TDS-ITAT-Appeal-taxscan.jpg "Exfacie delay in depositing TDS within due date: ITAT Upholds Proceedings against Assessee [Read Order]")
Relief to Dredging Corporation of India: ITAT rules Liquidated Damages not core Activity of Shipping and not part for Computation in Tonnage Tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench ruled that liquidated damages not core activity of shipping and not part for computation in tonnage tax, thereby granting relief to M/s...
![Relief to Dredging Corporation of India: ITAT rules Liquidated Damages not core Activity of Shipping and not part for Computation in Tonnage Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-rules-liquidated-damages-activity-shipping-part-tax-TAXSCAN.jpg "Relief to Dredging Corporation of India: ITAT rules Liquidated Damages not core Activity of Shipping and not part for Computation in Tonnage Tax [Read Order]")