![Charitable Trust Registration Rejected Without Fair Hearing Opportunity: ITAT orders Reconsideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Charitable-Trust-Registration-Rejected-Without-Fair-Hearing-Opportunity-ITAT-TAXSCAN.jpg "Charitable Trust Registration Rejected Without Fair Hearing Opportunity: ITAT orders Reconsideration [Read Order]")
Charitable Trust Registration Rejected Without Fair Hearing Opportunity: ITAT orders Reconsideration [Read Order]
The Income Tax Appellate Tribunal (ITAT), Amritsar Bench has invalidated the rejection of the application for registration of Charitable Trust...
![Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Valuation-Report-of-Equity-Shares-prepared-by-Accountant-is-not-Sacrosanct-Valuation-Report-of-Equity-Shares-Equity-Shares-Valuation-Report-Accountant-ITAT-upholds-Revision-Order-ITAT-Taxscan.jpg "Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]")
![Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-shall-not-be-allowable-in-respect-of-increase-Business-Income-addition-on-account-of-Concealed-Production-ITAT-TAXSCAN.jpg "Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]")
![Delay in Filing Appeal Due to Mistake on part of Officials: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/re-adjudication-ITAT-Delay-in-filing-appeal-mistake-on-part-of-officials-TAXSCAN.jpg "Delay in Filing Appeal Due to Mistake on part of Officials: ITAT directs Re-adjudication [Read Order]")
![Addition of Rental Income under Income from Other Sources Invalid as already declared under Income from House Property: ITAT Strikes Down Double Taxation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Invalid-as-already-declared-under-Income-from-House-Property-ITAT-Strikes-Down-Double-Taxation-TAXSCAN.jpg "Addition of Rental Income under Income from Other Sources Invalid as already declared under Income from House Property: ITAT Strikes Down Double Taxation [Read Order]")
Co-operative Society’s Investment in Co-operative Society's Fixed Deposit Accounts Eligible for Deduction u/s 80P (2) (d) of IT Act: ITAT [Read Order]
The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) recently held that the investment of a co-operative society in another co-operative society’ s fixed deposit accounts are eligible...
![Co-operative Society’s Investment in Co-operative Societys Fixed Deposit Accounts Eligible for Deduction u/s 80P (2) (d) of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Co-operative-Society-Fixed-Deposit-Accounts-Eligible-for-Deduction-ITAT-TAXSCAN.jpg "Co-operative Society’s Investment in Co-operative Societys Fixed Deposit Accounts Eligible for Deduction u/s 80P (2) (d) of IT Act: ITAT [Read Order]")
Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the Legal & Professional charges incurred in connection with the business are to be treated as Revenue Expenditure. The...
![Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Legal-Professional-charges-incurred-towards-business-to-be-treated-Revenue-Expenditure-ITAT-RAXSCAN.jpg "Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]")
Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]
The Cuttack bench of Income Tax Appellate (ITAT) held that the claim of exemption under section 10(38) of Income Tax Act, 1961 for the long term capital gain from the sale of equity shares before the...
![Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/for-LTCG-from-sale-of-equity-shares-before-assessment-proceedings-is-valid-ITAT-TAXSCAN.jpg "Claim of exemption u/s 10(38) of IT Act for LTCG from sale of equity shares before assessment proceedings is valid: ITAT [Read Order]")
No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that no penalty under section 271 (1) can be imposed when income surrendered by the...
![No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/when-Income-Surrendered-Assessee-During-Survey-in-Regular-Income-Tax-Return-Filed-within-Prescribed-Time-ITAT-TAXSCAN.jpg "No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]")
Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]
The Delhi High Court directed to seek statutory remedy on the allegation that the sale consideration of agricultural land was assessed to tax without adjusting the cost of acquisition. Om Parkash,...
![Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Sale-Consideration-of-Agricultural-Land-Sale-Consideration-Agricultural-Land-Tax-Adjusting-the-Cost-of-Acquisition-Cost-of-Acquisition-Delhi-HC-dismisses-Petition-Delhi-High-Court-taxscan.jpg "Sale Consideration of Agricultural Land Assessed to Tax without Adjusting the Cost of Acquisition: Delhi HC dismisses Petition, Directs to Seek Statutory Remedy [Read Order]")
No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]
The Indore bench of Income Tax Appellate Tribunal (ITAT) has recently while quashing the assessment order passed under Section 143(3) of Income Tax Act 1961 observed that there is no notice...
![No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Notice-issued-and-served-within-prescribed-time-limit-ITAT-TAXSCAN.jpg "No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]")
Addition of LTCG by invoking S. 50(c) of Income Tax Act without retrospective effect is invalid : ITAT directs Re-adjudication[Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that the addition of long term capital gain by invoking section 50(c) of the Income Tax Act 1961 which does not carry retrospective effect...
![Addition of LTCG by invoking S. 50(c) of Income Tax Act without retrospective effect is invalid : ITAT directs Re-adjudication[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-us-50C-of-Income-Tax-Act-based-on-SVAs-Overvaluation-of-Capital-Gain-Sale-Consideration-ITAT-directs-Readjudication-TAXSCAN.jpg "Addition of LTCG by invoking S. 50(c) of Income Tax Act without retrospective effect is invalid : ITAT directs Re-adjudication[Read Order]")