![Re-Assessment is Invalid when Assessee disclosed All Material facts to complete Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Re-Assessment-Invalid-Assesseed-Material-Assessment-ITAT-taxscan.jpeg "Re-Assessment is Invalid when Assessee disclosed All Material facts to complete Assessment: ITAT [Read Order]")
Re-Assessment is Invalid when Assessee disclosed All Material facts to complete Assessment: ITAT [Read Order]
The Chennai bench of the ITAT has deleted a re-assessment passed under section 147 of the Income Tax Act, 1961 by holding that there was no failure...
![ITAT deletes Penalty since Non-Deduction of TDS due to Absence of Invoices [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Penalty-Non-Deduction-TDS-Absence-Invoices-Taxscan.jpeg "ITAT deletes Penalty since Non-Deduction of TDS due to Absence of Invoices [Read Order]")
![Penalty cannot be solely based on Addition without proving Concealment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Penalty-cannot-solely-Addition-proving-Concealment-ITAT-Taxscan.jpeg "Penalty cannot be solely based on Addition without proving Concealment: ITAT [Read Order]")
![Relief to Deloitte: ESI & PF Contributions made after Due Date allowable as Deduction, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Delhi-Deloitte-ESI-PF-Contributions-Deduction-ITAT-taxscan.jpeg "Relief to Deloitte: ESI & PF Contributions made after Due Date allowable as Deduction, rules ITAT [Read Order]")
ITAT confirms Income Tax Penalty against Doctor for not maintaining daily case register and Inventory of Medicine Stock [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has recently confirmed a penalty issued under section 271A of the Income Tax Act, 1961 on grounds of not maintaining books of accounts as...
![ITAT confirms Income Tax Penalty against Doctor for not maintaining daily case register and Inventory of Medicine Stock [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Income-Tax-Penalty-Doctor-daily-case-register-Inventory-of-Medicine-Stock-medicine-stock-medicine-case-register-income-tax-penalty-Taxscan.jpg "ITAT confirms Income Tax Penalty against Doctor for not maintaining daily case register and Inventory of Medicine Stock [Read Order]")
Assessing Officer shall wait for Disposal of Appeal when Revisional Order is challenged before ITAT: Madras HC [Read Order]
The Madras High Court has held that when a revisional order under section 263 of the Income Tax Act, 1961, is pending before the Tribunal, the Assessing Officer shall wait to initiate the proceedings...
![Assessing Officer shall wait for Disposal of Appeal when Revisional Order is challenged before ITAT: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/AO-Disposal-of-Appeal-Revisional-Order-ITAT-Madras-HC.jpeg "Assessing Officer shall wait for Disposal of Appeal when Revisional Order is challenged before ITAT: Madras HC [Read Order]")
Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]
The Vishakhapatnam bench of the ITAT, comprising Shri Duvvuru Rl Reddy, Judicial Member & Shri S Balakrishnan, Accountant Member has held that the department cannot impose income tax on the...
![Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Compensation-Compulsory-Acquisition-Land-ITAT-Taxscan.jpg "Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]")
CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]
The ITAT, Delhi bench has held that CENVAT credit receivables which could not be set off are allowable as deduction under the Income Tax Act, 1961. The assessee is in the business of manufacturing...
![CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Deduction-CENVAT-Credit-Deduction-ITAT-Taxscan.jpeg "CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]")
![Income Tax: CBDT relaxes Electronic filing of Application in Form No. 3CF [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/03/CBDT-Form-Requirements-Electronic-filing-of-Application-Form-No.-3CF.jpg "Income Tax: CBDT relaxes Electronic filing of Application in Form No. 3CF [Read Circular]")
CBDT releases Detailed Circular regarding TDS and Income Tax Deduction on Salaries for AY 2021-22 [Read Circular]
The Central Board of Direct Taxes (CBDT) has released a circular regarding Tax Deduction at Source (TDS) and income tax deduction on salaries for the year 2021-22. The Circular issued today...
![CBDT releases Detailed Circular regarding TDS and Income Tax Deduction on Salaries for AY 2021-22 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/03/CBDT-Detailed-Circular-TDS-Income-Tax-Deduction-Income-tax-Salaries-AY-2021-22-Taxscan.jpg "CBDT releases Detailed Circular regarding TDS and Income Tax Deduction on Salaries for AY 2021-22 [Read Circular]")
Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]
In a major relief to Andaman & Nicobar State Corporation Bank, the Income Tax Appellate Tribunal, Kolkata bench has held that deduction is allowable on the payment towards LIC Group Gratuity...
![Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Deduction-Payment-LIC-Group-Gratuity-Scheme-ITAT-Andaman-Nicobar-State-Corporation-Bank-Corporation-bank-bank-Taxscan.jpg "Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]")