![ITAT deletes Rs.1 Cr Addition on Sale of Vegetables/Fruits made u/s 68 instead of S. 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Sale-of-Vegetables-Fruits-Vegetables-Fruits-Addition-on-Sale-Income-Tax-Act-Section-69-of-Income-Tax-Act-taxscan.jpg "ITAT deletes Rs.1 Cr Addition on Sale of Vegetables/Fruits made u/s 68 instead of S. 69 of Income Tax Act [Read Order]")
ITAT deletes Rs.1 Cr Addition on Sale of Vegetables/Fruits made u/s 68 instead of S. 69 of Income Tax Act [Read Order]
In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) gave relief to Sujit Biswas, a vegetable trader and commission...
![Land Sale Value to be Determined as on Date of Agreement for Income Tax Deduction u/s 50C: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Deduction-Income-Tax-Deduction-Commission-Payments-Commission-Examination-Verification-Agreement-between-Payer-and-Dealers-Payer-and-Dealers-ITAT-Taxscan.jpg "Land Sale Value to be Determined as on Date of Agreement for Income Tax Deduction u/s 50C: Karnataka HC [Read Order]")
![Interest on Enhanced Compensation is Taxable as Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Enhanced-Compensation-is-Taxable-as-Income-Enhanced-Compensation-income-tax-Interest-Delhi-Bench-taxscan.jpg "Interest on Enhanced Compensation is Taxable as Income from Other Sources: ITAT [Read Order]")
![Disallowance of Bogus LTCG is Invalid in Absence of Incriminating Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/LTCG-income-tax-income-taxs-news-Incriminating-Material-Disallowance-of-Bogus-Income-Tax-act-TAXSCAN.jpg "Disallowance of Bogus LTCG is Invalid in Absence of Incriminating Material: ITAT [Read Order]")
ITAT quashes Reassessment Proceeding initiated u/s 147 of Income Tax Act on basis of vague Report of Investigation Wing without applying mind [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, quashed reassessment proceedings initiated under section 147 of the Income Tax Act, 1961, on the basis of a vague report from the investigation...
![ITAT quashes Reassessment Proceeding initiated u/s 147 of Income Tax Act on basis of vague Report of Investigation Wing without applying mind [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Reassessment-Proceeding-Income-Tax-Act-vague-Report-Investigation-Wing-applying-mind-TAXSCAN.jpg "ITAT quashes Reassessment Proceeding initiated u/s 147 of Income Tax Act on basis of vague Report of Investigation Wing without applying mind [Read Order]")
Re-assessment Proceedings under the Income Tax Act cannot be triggered qua Aspects Which AO Already Formed an Opinion: Delhi HC [Read Order]
The Delhi High Court held that reassessment proceedings under the Income Tax Act, 1961 cannot be triggered qua aspects which the Assessing Officer (AO) already formed an opinion on.        The...
![Re-assessment Proceedings under the Income Tax Act cannot be triggered qua Aspects Which AO Already Formed an Opinion: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Re-assessment-Proceedings-Income-Tax-Act-Income-Tax-Re-assessment-Proceedings-under-the-Income-Tax-Act-cannot-be-triggered-qua-Aspects-Which-AO-AO-Delhi-HC-taxscan-1.jpg "Re-assessment Proceedings under the Income Tax Act cannot be triggered qua Aspects Which AO Already Formed an Opinion: Delhi HC [Read Order]")
Challenge to notice u/s 154 of Income Tax Act is Maintainable under Article 226 of Constitution of India: Gujarat HC grants Relief to Mastek Limited [Read Order]
The Gujarat High Court grants relief to Mastek Limited, and observed that challenge to notice under Section 154 of the Income Tax Act, 1961 is maintainable under Article 226 of the Constitution of...
![Challenge to notice u/s 154 of Income Tax Act is Maintainable under Article 226 of Constitution of India: Gujarat HC grants Relief to Mastek Limited [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/notice-Income-Tax-Act-Income-Tax-Constitution-of-India-Gujarat-HC-taxscan.jpg "Challenge to notice u/s 154 of Income Tax Act is Maintainable under Article 226 of Constitution of India: Gujarat HC grants Relief to Mastek Limited [Read Order]")
Revisional Proceeding u/s 263 of Income Tax Act cannot be initiated in the event of 'Absence of Inquiry or Verification': ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that it is difficult to hold that the action of the AO is unintelligible as the revisionary proceeding was intiated in the event of...
![Revisional Proceeding u/s 263 of Income Tax Act cannot be initiated in the event of Absence of Inquiry or Verification: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Revisional-Proceeding-Income-Tax-Act-Absence-of-Inquiry-Verification-ITAT-taxscan.jpg "Revisional Proceeding u/s 263 of Income Tax Act cannot be initiated in the event of Absence of Inquiry or Verification: ITAT [Read Order]")
Bar u/s 205 of Income Tax Act Effects when it was established that Tax has been Deducted at Source: Delhi HC Dismisses Review Application [Read Order]
The Delhi High Court held that the bar under section 205 of the Income Tax Act, 1961 effects when it was established that the tax has been deducted at the source and dismissed the review application....
![Bar u/s 205 of Income Tax Act Effects when it was established that Tax has been Deducted at Source: Delhi HC Dismisses Review Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Under-Section-205-Of-Income-Tax-Act-Income-Tax-Act-Income-Tax-Tax-Deducted-At-Source-Delhi-High-Court-Dismisses-Review-Application-Review-Application-TAXSCAN.jpg "Bar u/s 205 of Income Tax Act Effects when it was established that Tax has been Deducted at Source: Delhi HC Dismisses Review Application [Read Order]")
Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, while directing the matter of the assessee for readjudication, held that prior period income from the sale of property shall be chargeable to...
![Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Sale-of-Property-Prior-Period-Income-Income-from-Sale-of-Property-ITAT-ITAT-DELHI-INCOME-TAX-INCOME-TAX-ACT-TAXSCAN.jpg "Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]")
Interest u/s 234B of Income Tax Act has to be Charged on Assessed Income and not on Returned Income: Jharkhand HC [Read Order]
The Jharkhand High Court observed that the interest under Section 234B of the Income Tax Act, 1961 has to be charged on assessed income and not on returned income. The instant appeal is directed...
![Interest u/s 234B of Income Tax Act has to be Charged on Assessed Income and not on Returned Income: Jharkhand HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-Under-Section-234B-Of-Income-Tax-Act-Income-Tax-Assessed-Income-Jharkhand-High-Court-Returned-Income-Charged-on-Assessed-Income-TAXSCAN.jpg "Interest u/s 234B of Income Tax Act has to be Charged on Assessed Income and not on Returned Income: Jharkhand HC [Read Order]")