![ITAT invalidates Reopening of Income Tax Assessment as reasons, information referred was extremely Scanty, Sudden jump to conclusions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/ITAT-Reopening-Income-Tax-Assessment-reasons-information-scanty-sudden-jump-conclusions-Taxscan.jpg "ITAT invalidates Reopening of Income Tax Assessment as reasons, information referred was extremely Scanty, Sudden jump to conclusions [Read Order]")
ITAT invalidates Reopening of Income Tax Assessment as reasons, information referred was extremely Scanty, Sudden jump to conclusions [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has invalidated Reopening of Income Tax Assessment as reasons, information referred was...
![No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/NRI-Liability-Payment-of-Income-Tax-Non-Resident-receiving-payment-Time-Charter-ITAT-Taxscan.jpg "No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]")
![Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Donation-local-clubs-local-bodies-festival-sports-Expenditure-ITAT-Deduction-Taxscan.jpg "Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]")
![Madhya Pradesh HC Quashes Faceless Assessment Order Passed Regarding Mandatory Requirements like Grant of Opportunity of Personal Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Madhya-Pradesh-High-Court-Faceless-Assessment-Order-Passed-Regarding-Mandatory-Requirements-Personal-Hearing-taxscan.jpg "Madhya Pradesh HC Quashes Faceless Assessment Order Passed Regarding Mandatory Requirements like Grant of Opportunity of Personal Hearing [Read Order]")
Definition of 'Scrap' under Income Tax Act cannot be used to interpret CENVAT Rules: CESTAT [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Delhi bench has held that the term “scrap” used in the Income Tax Act, 1961 has a different purpose and therefore, the service tax...
![Definition of Scrap under Income Tax Act cannot be used to interpret CENVAT Rules: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/CESTAT-Bangalore-Scrap-Income-Tax-Act-CENVAT-Rules-CESTAT-Taxscan.jpeg "Definition of Scrap under Income Tax Act cannot be used to interpret CENVAT Rules: CESTAT [Read Order]")
Addition of Excess Share Premium: AO cannot change Method of Valuation of Shares, rules ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), while considering an appeal challenging the addition of excess share premium under section 68 of the Income Tax Act, 1961 has held...
![Addition of Excess Share Premium: AO cannot change Method of Valuation of Shares, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/AO-ITAT-Excess-Share-Premium-Share-Premium-Valuation-of-Shares-Taxscan.jpg "Addition of Excess Share Premium: AO cannot change Method of Valuation of Shares, rules ITAT [Read Order]")
Setback to Pharma Companies: Freebies to Doctors are Ilegal, No Deduction allowed, clarifies Finance Bill, 2022
In a major setback to the pharma companies, the Finance Bill, 2022 clarified that the gifts and freebies to doctors shall not be treated as business expenditure under section 37 of the Income Tax...
![Pure Reimbursement does not give rise to any Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Pure-reimbursement-income-ITAT-Taxscan.jpg "Pure Reimbursement does not give rise to any Income: ITAT [Read Order]")
Income Tax Exemption to ICMAI Registered Valuers Organisation: ITAT asks Dept to re-consider Application [Read Order]
The Income Tax Appellate Tribunal (Delhi), while considering an appeal filed by the ICMAI Registered Valuers Organisation, asked the income tax department to re-consider the application to allow...
![Income Tax Exemption to ICMAI Registered Valuers Organisation: ITAT asks Dept to re-consider Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Income-Tax-Exemption-ICMAI-Cost-Accountants-ICMAI-Registered-Valuers-Organisation-Taxscan.jpg "Income Tax Exemption to ICMAI Registered Valuers Organisation: ITAT asks Dept to re-consider Application [Read Order]")