![Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Act-Applicable-Bonus-Shares-ITAT-Appeal-TAXSCAN.webp "Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]")
Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]
The New Delhi bench of ITAT quashed the appeal by Deputy Commissioner of Income Tax (DCIT), (the appellant) for levying Income tax from Aruna...
![No initiation of disallowances is required under Rule 8D(2)(i) if Direct Expenses not debited to P/L Account of Business: ITAT sets aside Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-initiation-disallowances-No-initiation-of-disallowances-Direct-Expenses-Account-of-Business-Business-ITAT-taxscan.jpg "No initiation of disallowances is required under Rule 8D(2)(i) if Direct Expenses not debited to P/L Account of Business: ITAT sets aside Order of CIT(A) [Read Order]")
![No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Addition-on-Unaccounted-Income-No-Addition-Unaccounted-Income-Income-Inclusion-of-Sale-of-Jewellery-LTCG-ROI-ITAT-quashes-Assessment-Order-and-Penalty-taxscan.jpg "No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]")
![Reassessment of Non-resident Company Vedanta Resources: Orissa HC quashes proceedings due to Lack of Jurisdiction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Reassessment-Non-resident-Company-Vedanta-Resources-Vedanta-Resources-Non-resident-Company-Orissa-High-Court-proceedings-Lack-of-Jurisdiction-Jurisdiction-Taxscan-.jpg "Reassessment of Non-resident Company Vedanta Resources: Orissa HC quashes proceedings due to Lack of Jurisdiction [Read Order]")
![Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Depreciation-Computer-Softwares-ITAT-TAXSCAN.jpg "Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]")
Disallowance can’t be made on Late deposit of ESI and EPF, if deposited before due date of Income Tax Return: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Agra Bench ruled that the disallowance can not be made on the Late deposit of Employees' State Insurance (ESI) and Employees' Provident Fund (EPF) if...
![Disallowance can’t be made on Late deposit of ESI and EPF, if deposited before due date of Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/ESI-EPF-ITR-ITAT-Taxscan.jpg "Disallowance can’t be made on Late deposit of ESI and EPF, if deposited before due date of Income Tax Return: ITAT [Read Order]")
TDS not Deductible on issue of Recharge Vouchers by Cellular Service provider at lower rates: ITAT grants Relief to Vodafone India [Read Order]
In a major relief to the Vodafone India the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench ruled that the TDS is not deductible on the issue of recharge vouchers by cellular service...
![ITAT quashes Reopening of Assessment against Aries Marketers [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-reopening-of-the-assessment-Aries-Marketers-Taxscan.jpg "ITAT quashes Reopening of Assessment against Aries Marketers [Read Order]")
![Assessment cant be Revised on ground of Mere suspicion that Income is Escaped: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Assessment-Mere-suspicion-Income-is-Escaped-ITAT-Taxscan.jpg "Assessment cant be Revised on ground of Mere suspicion that Income is Escaped: ITAT [Read Order]")
Limitation Period can’t start from the date pronouncement of Order, if assessee lack knowledge: Delhi High Court [Read Judgment]
The Delhi High Court held that the limitation period cannot start from the date pronouncement of the Order if the assessee lacks knowledge about the pronouncement of the order. The...
![Limitation Period can’t start from the date pronouncement of Order, if assessee lack knowledge: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/01/Limitation-Period-pronouncement-of-Order-assessee-lack-knowledge-Delhi-High-Court-Taxscan.jpg "Limitation Period can’t start from the date pronouncement of Order, if assessee lack knowledge: Delhi High Court [Read Judgment]")
Transfer Order is administrative order and not quasi-judicial order, Assessee don’t have any right to choose Assessing Authority: Madras HC [Read Judgment]
The Madras High Court held that the Transfer Order is an administrative order and not a quasi-judicial order. The assessee does not have any right to choose Assessing Authority. The Appellant...
![Transfer Order is administrative order and not quasi-judicial order, Assessee don’t have any right to choose Assessing Authority: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/Transfer-Order-administrative-order-quasi-judicial-order-Assessing-Authority-Madras-High-court-Taxscan-1.jpg "Transfer Order is administrative order and not quasi-judicial order, Assessee don’t have any right to choose Assessing Authority: Madras HC [Read Judgment]")