![Penalty cannot be levied based on Estimate Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Penalty-Estimate-Addition-levied-ITAT-Taxscan.jpg "Penalty cannot be levied based on Estimate Addition: ITAT [Read Order]")
Penalty cannot be levied based on Estimate Addition: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty order under section 271(1)(c) of the Income Tax Act, 1961...
![TDS u/s 194D not applicable to Reinsurance Commission: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/TDS-section-194D-Reinsurance-Commission-Commission-ITAT-Taxscan.jpg "TDS u/s 194D not applicable to Reinsurance Commission: ITAT [Read Order]")
![Interest u/s 234C shall be calculated based on Returned Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Interest-under-section-234C-Returned-Income-ITAT-Income-Taxscan.jpg "Interest u/s 234C shall be calculated based on Returned Income: ITAT [Read Order]")
![Provisions of Sec 44AD not applicable to Commission Agents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Commission-Agents-ITAT-taxscan.jpg "Provisions of Sec 44AD not applicable to Commission Agents: ITAT [Read Order]")
![ACIT cannot Sanction Re-assessment Notice After Expiry Of 4 Years: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/ACIT-Re-assessment-Notice-Re-assessment-Bombay-High-Court-Taxscan.jpeg "ACIT cannot Sanction Re-assessment Notice After Expiry Of 4 Years: Bombay HC [Read Order]")
Repeal of S. 144B(9) vide Finance Act, 2022: Supreme Court stays High Court Order declaring Assessment Order Non-Est [Read Order]
The Supreme Court, in view of repeal of section 144B(9) of the Finance Act, 2022, has stayed an assessment order declared as non-est by the High Court. The petitioner, National Faceless Assessment...
![Repeal of S. 144B(9) vide Finance Act, 2022: Supreme Court stays High Court Order declaring Assessment Order Non-Est [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Repeal-Finance-Act-Supreme-Court-High-Court-Order-Assessment-Order-Non-Est-Taxscan.jpeg "Repeal of S. 144B(9) vide Finance Act, 2022: Supreme Court stays High Court Order declaring Assessment Order Non-Est [Read Order]")
CBDT notifies Rajasthan Electricity Regulatory Commission eligible for Income Tax Exemption [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified the Rajasthan Electricity Regulatory Commission eligible for income tax exemption under section 10(46) of the Income Tax Act, 1961. As per the...
![CBDT notifies Rajasthan Electricity Regulatory Commission eligible for Income Tax Exemption [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/04/CBDT-Rajasthan-Electricity-Regulatory-Commission-Income-Tax-Exemption-taxscan.jpeg "CBDT notifies Rajasthan Electricity Regulatory Commission eligible for Income Tax Exemption [Read Notification]")
Revision Order merely because of Non-mentioning of specific reasons for accepting the explanation of the assessee is Invalid: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the revision order under section 263 of the Income Tax Act, 1961 cannot be invoked merely because the Assessing Officer has...
![Revision Order merely because of Non-mentioning of specific reasons for accepting the explanation of the assessee is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Revision-Order-specific-reasons-explanation-assesse-Invalid-ITAT-Taxscan.jpg "Revision Order merely because of Non-mentioning of specific reasons for accepting the explanation of the assessee is Invalid: ITAT [Read Order]")
![ITAT deletes Income Tax Penalty on Air India Subsidiary [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/ITAT-Income-Tax-Penalty-Income-Tax-Penalty-Air-India-Subsidiary-Taxscan.jpg "ITAT deletes Income Tax Penalty on Air India Subsidiary [Read Order]")
Agricultural Land was not converted at the Time of Sale: ITAT deletes Capital Gain Addition [Read Order]
The ITAT Bangalore bench has held that since the agricultural land was not converted at the time of sale, the sale consideration shall not be included in the total income of the assessee to compute...
![Agricultural Land was not converted at the Time of Sale: ITAT deletes Capital Gain Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Agricultural-Land-Time-of-Sale-ITAT-sale-Capital-gain-Taxscan.jpg "Agricultural Land was not converted at the Time of Sale: ITAT deletes Capital Gain Addition [Read Order]")
Late Fee u/s 234E has Prospective Effect, cannot be levied without machinery provision of sec. 200A: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the imposition of late fee under section 234E of the Income Tax Act, 1961 has prospective effect and the same cannot be levied...
![Late Fee u/s 234E has Prospective Effect, cannot be levied without machinery provision of sec. 200A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/late-fee-under-section-234E-Prospective-Effect-machinery-provision-section-200A-ITAT-Taxscan.jpg "Late Fee u/s 234E has Prospective Effect, cannot be levied without machinery provision of sec. 200A: ITAT [Read Order]")
Supreme Court upholds Constitutional Validity of Amendments related to Registration of Charitable Trust [Read Judgment]
A division bench of the Supreme Court has upheld the constitutional validity of the recent amendments made in the Finance Act, 2020 in relation to the new provisions regarding the registration of...
