![Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Basic-Condition-as-Stipulated-under-Section-2711c-ITAT-Penalty-TAXSCAN.jpg "Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]")
Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding that the basic condition as stipulated...
![Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Assets-Transfer-of-development-rights-Supreme-Court-Bombay-High-Court-Judgment-Stock-in-trade-Transfer-of-Development-Rights-by-Builder-is-Transfer-of-Capital-Assets-Taxscan.jpg "Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]")
![Delay Beyond Assessees Control in E-verification/Filing Belated Return: ITAT deletes Penalty Levied u/s 271F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/E-verification-Filing-Belated-Return-ITAT-Penalty-TAXSCAN2.jpg "Delay Beyond Assessees Control in E-verification/Filing Belated Return: ITAT deletes Penalty Levied u/s 271F [Read Order]")
![Addition u/s 69C cannot be Imposed on Trading in Scrips on Account of Share Price Movement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Imposed-on-Trading-in-Scrips-on-Account-of-Share-Price-Movement-ITAT-TAXSCAN.jpg "Addition u/s 69C cannot be Imposed on Trading in Scrips on Account of Share Price Movement: ITAT [Read Order]")
Absence of Unabsorbed Depreciation in Earlier Years doesn’t bar Set off of Unabsorbed Depreciation against Income from Other Sources: ITAT
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, held that the absence of unabsorbed depreciation in earlier years does not bar set off of unabsorbed brought forward depreciation against...
AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, while quashing a demand order, held that the AO is bound to follow the procedure under Section...
![AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Procedure-AO-IT-Act-Payer-Deducted-Tax-at-Source-ITAT-quashes-Demand-Order-ITAT-Taxscan.jpg "AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]")
AO shall Conduct Independent Investigation without relying on Third Party Statements and Facts: ITAT upholds Deletion of Additions u/s 68 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while upholding the deletion of additions made under Section 68, held that the A.O shall conduct...
![AO shall Conduct Independent Investigation without relying on Third Party Statements and Facts: ITAT upholds Deletion of Additions u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-AO-Third-Party-Commissioner-of-Income-Tax-taxscan.jpg "AO shall Conduct Independent Investigation without relying on Third Party Statements and Facts: ITAT upholds Deletion of Additions u/s 68 [Read Order]")
Issuance of Notice under Section 148 without Approval of Higher Authorities: ITAT quashes Assessment Order
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding about the issuance notice under Section 148 of the Income Tax Act, without approval of...
Mere Disallowance of a Claim Which is not Ex-facie Bogus cannot Lead to Levy of Penalty: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that mere disallowance of a claim which is not ex- facie bogus cannot lead to levy of penalty. ...
Return of Income and Statement in Form-67 Filed within Due Date: ITAT directs Granting of Foreign Tax Credit [Read Order]
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, has recently, in an appeal filed before it, directed the granting of foreign tax credit, on the ground that the return of income and...
![Return of Income and Statement in Form-67 Filed within Due Date: ITAT directs Granting of Foreign Tax Credit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Return-of-Income-and-Statement-in-Form-67-Filed-ITAT-Foreign-Tax-Credit-TAXSCAN.jpg "Return of Income and Statement in Form-67 Filed within Due Date: ITAT directs Granting of Foreign Tax Credit [Read Order]")
Assessee's Failure to Explain Investment Made in Shares of Paper Company with Exponential Increase of Share Value: ITAT upholds Application of Sec 68
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, upheld the application of section 68, on account of the assessee’s failure to explain investment...
