![Deduction Claim on Building Construction Expenses: ITAT deletes Penalty on Trust for Bona Fide Error [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Penalty-on-Trust-Building-Construction-Tax-Deduction-Construction-Income-Tax-Deduction-Income-Tax-taxscan.jpg "Deduction Claim on Building Construction Expenses: ITAT deletes Penalty on Trust for Bona Fide Error [Read Order]")
Deduction Claim on Building Construction Expenses: ITAT deletes Penalty on Trust for Bona Fide Error [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) cancelled the penalty levied on the assessee under Section 271(1)(c) of the Income...
![ITAT upholds Deletion of Additions for Unsecured Loans due to Insufficient Evidence u/s 68 and 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Unsecured-Loans-Section-68-and-69C-of-Income-Tax-Act-taxscan.jpg "ITAT upholds Deletion of Additions for Unsecured Loans due to Insufficient Evidence u/s 68 and 69C of Income Tax Act [Read Order]")
![Gujarat HC stays GST SCN issued on Transaction of Assignment of Long Term Leasehold Rights [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/GST-GST-Registration-cancellation-GST-Registration-Delhi-High-Court-taxscan.jpg "Gujarat HC stays GST SCN issued on Transaction of Assignment of Long Term Leasehold Rights [Read Order]")
No Fresh Evidence available with AOÂ Supporting Income Escapement Claim against Stock Market Trader: Gujarat HC quashes Income Tax Reassessment Notice [Read Order]
The income tax reassessment notice against the stock market trader was quashed by the Gujarat High Court as the Assessing Officer lacked fresh tangible evidence for supporting the income escapement...
![No Fresh Evidence available with AOÂ Supporting Income Escapement Claim against Stock Market Trader: Gujarat HC quashes Income Tax Reassessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/The-income-tax-reassessment-notice-stock-market-trader-Income-Escapement-Claim-Gujarat-HC-Claim-against-Stock-Market-No-Fresh-Evidence-available-AO-Supporting-taxscan.jpg "No Fresh Evidence available with AOÂ Supporting Income Escapement Claim against Stock Market Trader: Gujarat HC quashes Income Tax Reassessment Notice [Read Order]")
Gujarat HC quashes Income Tax Reassessment Proceedings initiated after 4 years on Deduction Claim u/s 80IA(4)(iv)
The Gujarat High Court quashed the Income Tax reassessment proceedings initiated after 4 years on deduction claim under Section 80IA(4)(iv) of the Income Tax Act, 1961. The assessee, Facets Gems...
Gujarat HC allows Capital Gain Deduction With Seized Evidence, Reverses Interim Settlement Board’s Decision [Read Order]
Capital Gain deduction under Section 54 of Income Tax Act was provided by the Gujarat High Court based on seized evidence despite non-disclosure of cash transactions. The court reversed the decision...
Income Tax Reassessment Reasons amounts to be Mere Change of Opinion without Nexus with Original Materials:Â Gujarat HC [Read Order]
Reasons for reopening of income tax assessment amounts to be mere change of opinion without any link or nexus with the material relied upon as during the regular assessment proceedings, the Gujarat...
![Income Tax Reassessment Reasons amounts to be Mere Change of Opinion without Nexus with Original Materials:Â Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Reassessment-Nexus-with-Original-Materials-taxscan.jpg "Income Tax Reassessment Reasons amounts to be Mere Change of Opinion without Nexus with Original Materials:Â Gujarat HC [Read Order]")
Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that charging capital gains tax twice on the same land from the execution of the sale deed was impermissible, and consequently...
![Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Capital-Gains-Tax-income-tax-Reassessment-Section-148-Income-Tax-Act-Income-tax-act-ITAT-Delhi-TAXSCAN.jpg "Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]")
Unsigned Excel Sheet without Corroboration Fails as Evidence in S. 153C Income Tax Proceedings: Gujarat HC dismisses Revenue’s Appeal [Read Order]
The Gujarat High Court dismissed the appeal filed by the revenue citing that there is no base for initiating proceedings under Section 153C of the Income Tax Act. The court stated that an unsigned...
![Unsigned Excel Sheet without Corroboration Fails as Evidence in S. 153C Income Tax Proceedings: Gujarat HC dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Proceedings-Section-153C-Income-Tax-Act-Unsigned-Excel-Sheet-TAXSCAN.jpg "Unsigned Excel Sheet without Corroboration Fails as Evidence in S. 153C Income Tax Proceedings: Gujarat HC dismisses Revenue’s Appeal [Read Order]")
