Income Tax Act
![Failure to Collect TCS on Sale of Metal Scrap before Limitation Period: ITAT Quashes AOs order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Collect-TCS-on-Sale-of-Metal-Scrap-TCS-Sale-of-Metal-Scrap-Metal-Scrap-Limitation-Period-ITAT-AOs-order-ITAT-Quashes-AOs-order-taxscan.jpg "Failure to Collect TCS on Sale of Metal Scrap before Limitation Period: ITAT Quashes AOs order [Read Order]")
Failure to Collect TCS on Sale of Metal Scrap before Limitation Period: ITAT Quashes AO's order [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed an order passed by the Assessing Officer (AO) for failure to collect tax...
![Issuance of Notice u/s 147 of Income Tax Act without Jurisdiction: ITAT Quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Isuance-of-Notice-Income-Tax-Act-Jurisdiction-ITAT-ITAT-Quashes-Re-Assessment-Income-Tax-taxscan.jpg "Issuance of Notice u/s 147 of Income Tax Act without Jurisdiction: ITAT Quashes Re-Assessment [Read Order]")
![DCF Method of Valuation is Valid for Start-Up Companies u/s 145(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/DCF-Method-of-Valuation-DCF-Method-DCF-Method-of-Valuation-is-Valid-for-Start-Up-Companies-Start-Up-Companies-Income-Tax-Act-ITAT-Taxscan.jpg "DCF Method of Valuation is Valid for Start-Up Companies u/s 145(3) of Income Tax Act: ITAT [Read Order]")
![Order passed U/s 148 A(d) of Income Tax Act without providing a copy of Evidence and Denying Opportunity to Cross Examination is invalid: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Order-Income-Tax-Act-Income-Tax-Act-without-providing-a-copy-of-Evidence-Examination-invalid-Calcutta-HC-taxscan.jpg "Order passed U/s 148 A(d) of Income Tax Act without providing a copy of Evidence and Denying Opportunity to Cross Examination is invalid: Calcutta HC [Read Order]")
![Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Profit-Element-of-Bogus-Purchase-Bogus-Purchase-Income-Tax-Act-Bombay-High-Court-Assessee-Taxable-Income-Under-Income-Tax-Act-Taxscan.jpg "Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC [Read Order]")
AO issues notice u/s 148A(b) of Income Tax Act without Furnishing Relevant Material against alleged Bogus Purchases: Delhi HC directs Fresh Adjudication [Read Order]
The Delhi High Court directed a De novo adjudication against the notice under Section 148A(b) of the Income Tax Act, 1961 issued by the Assessing Officer (AO) without furnishing the relevant material...
![AO issues notice u/s 148A(b) of Income Tax Act without Furnishing Relevant Material against alleged Bogus Purchases: Delhi HC directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-issues-notice-Income-Tax-Act-without-Furnishing-Relevant-Material-against-alleged-Bogus-Purchases-Delhi-HC-directs-Fresh-Adjudication.jpg "AO issues notice u/s 148A(b) of Income Tax Act without Furnishing Relevant Material against alleged Bogus Purchases: Delhi HC directs Fresh Adjudication [Read Order]")
Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) quashed penalty on the grounds that an inadvertent error in statement made by the assessee during Hearing cannot be Reason for Levy of penalty...
![Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Inadvertent-Error-in-statement-during-Hearing-cannot-be-Reason-for-Levy-of-penalty-Income-Tax-Act-ITAT-quashes-Penalty-against-Kotak-Mahindra-Bank-TAXSCAN.jpg "Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]")
No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench ruled that no penalty shall be levied when no variation is found in returned income and assessable income. Meera Anirudha Mirgunde, the taxpayer...
![No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Variation-in-Returned-Income-and-Assessable-Income-Returned-Income-Assessable-Income-Income-Tax-ITAT-Taxscan.jpg "No Variation in Returned Income and Assessable Income: Penalty u/s 271(1)(c) of Income Tax Act Not Leviable, rules ITAT [Read Order]")
Notices And Proceedings Under Income Tax Act for Deceased Assessee as Null and Void: Bombay HC [Read Order]
A Division Bench of Bombay High Court has held that the notices and proceedings under Income Tax Act, 1961 for deceased assessee as null and void. The Petitioner, Dhirendra Bhupendra Sanghvi was...
![Notices And Proceedings Under Income Tax Act for Deceased Assessee as Null and Void: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Notices-Proceedings-Income-Tax-Act-Deceased-Assessee-Null-Bombay-High-Court-taxscan.jpeg "Notices And Proceedings Under Income Tax Act for Deceased Assessee as Null and Void: Bombay HC [Read Order]")
Delay in Filing Audit Report due to Dispute Between Director of Company is Mere Technical Breach and not Malafide Intention: ITAT Deletes Penalty u/s 271 B of Income Tax Act [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the Tax Audit Report was made available to Assessing Officer before completion of assessment proceedings. Therefore, delay in...
![Delay in Filing Audit Report due to Dispute Between Director of Company is Mere Technical Breach and not Malafide Intention: ITAT Deletes Penalty u/s 271 B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Delay-Filling-Audit-Report-Dispute-Director-of-company-Technical-breach-taxscan.jpg "Delay in Filing Audit Report due to Dispute Between Director of Company is Mere Technical Breach and not Malafide Intention: ITAT Deletes Penalty u/s 271 B of Income Tax Act [Read Order]")
No Disallowance shall be made u/s 37(1) of Income Tax Act on Site Expenses Incurred for Railway Business: ITAT deletes Ad-Hoc Disallowance [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata Bench while deleting the ad-hoc disallowance held that no disallowance should be made under Section 37(1) of Income Tax Act, 1961 on site...
![No Disallowance shall be made u/s 37(1) of Income Tax Act on Site Expenses Incurred for Railway Business: ITAT deletes Ad-Hoc Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/disallowance-Income-Tax-Act-Site-Expenses-Railway-Business-ITAT-deletes-Ad-Hoc-taxscan.jpg "No Disallowance shall be made u/s 37(1) of Income Tax Act on Site Expenses Incurred for Railway Business: ITAT deletes Ad-Hoc Disallowance [Read Order]")
Penalty proceeding u/s 271A of Income Tax Act can't be initiated on Proper maintenance of Books of Account: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that penalty proceeding under Section 271A of the Income Tax Act, 1961 cannot be initiated on proper maintenance of books of...
![Penalty proceeding u/s 271A of Income Tax Act cant be initiated on Proper maintenance of Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Penalty-Assessee-Proves-Reasonable-cause-Delay-Filing-Books-Account-Income-Tax-Act-ITAT-TAXSCAN-1.jpg "Penalty proceeding u/s 271A of Income Tax Act cant be initiated on Proper maintenance of Books of Account: ITAT [Read Order]")