![ITAT Upholds Deletion of Re-assessment Order by CIT(A) on ground of Reopening done on Unverified Information [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Deletion-Re-assessment-CITA-ground-Reopening-Unverified-Information-TAXSCAN.jpg "ITAT Upholds Deletion of Re-assessment Order by CIT(A) on ground of Reopening done on Unverified Information [Read Order]")
ITAT Upholds Deletion of Re-assessment Order by CIT(A) on ground of Reopening done on Unverified Information [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the re-assessment order passed by the assessing officer quashed by the...
![Addition made on Account of Sundry Creditors Balance due to Improper Explanation on part of Assessee: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Addition-made-on-Account-of-Sundry-Creditors-Balance-ITAT-Directs-Re-adjudication-Re-adjudication-ITAT-Sundry-Creditors-Balance-taxscan.jpg "Addition made on Account of Sundry Creditors Balance due to Improper Explanation on part of Assessee: ITAT Directs Re-adjudication [Read Order]")
![Payment of Higher Tax Rate of Interest under Commercial Expediency Cannot Attracts any Disallowance u/s. 40A(2) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Payment-Higher-Tax-Rate-Interest-Commercial-Expediency-Attracts-Disallowance-Income-Tax-Act-ITAT-TAXSCAN.jpg "Payment of Higher Tax Rate of Interest under Commercial Expediency Cannot Attracts any Disallowance u/s. 40A(2) of Income Tax Act: ITAT [Read Order]")
![Assessment Order passed by AO u/s 144 of Income Tax Act Without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Assessment-Order-Assessment-Order-passed-by-AO-Income-Tax-Act-Income-Tax-ITAT-Directs-Re-adjudication-taxscan.jpg "Assessment Order passed by AO u/s 144 of Income Tax Act Without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]")
![Capital Gain Tax shall not be chargeable to Immovable Property Gifted to daughter -in -law by wrongly Executed Sale Deed instead of Gift Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Capital-Gain-Tax-chargeable-Immovable-Property-Gifted-daughter-in-law-wrongly-Executed-Sale-Deed-Gift-Deed-ITAT-TAXSCAN.jpg "Capital Gain Tax shall not be chargeable to Immovable Property Gifted to daughter -in -law by wrongly Executed Sale Deed instead of Gift Deed: ITAT [Read Order]")
ITAT upholds Addition based on Seized Scribbling on Rough notes Found during Search Proceedings [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the addition based on seized scribbling on rough notes found during the search proceedings. Rakesh Natwarlal Thakkar, the...
![ITAT upholds Addition based on Seized Scribbling on Rough notes Found during Search Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-upholds-Addition-based-Seized-Scribbling-Rough-notes-Found-Search-Proceedings-TAXSCAN.jpeg "ITAT upholds Addition based on Seized Scribbling on Rough notes Found during Search Proceedings [Read Order]")
No Liability for Assessee in Default to Deduct TDS on Payee having No Liability to Pay Tax on Income: ITAT [Read Order]
The Gauhati Bench of Income Tax Appellate Tribunal (ITAT),held that if the payee has no liability to pay tax on exempt income, the liability to deduct tax at source in the hands of the payer cannot...
![No Liability for Assessee in Default to Deduct TDS on Payee having No Liability to Pay Tax on Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Liability-Assessee-Default-Deduct-TDS-Payee-No-Liability-Pay-Tax-Income-ITAT-TAXSCAN.jpg "No Liability for Assessee in Default to Deduct TDS on Payee having No Liability to Pay Tax on Income: ITAT [Read Order]")
Value Attributed to as Non-updated Stock Amounts to Taxation: ITAT partly sustains Order of AO [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the value attributed to non-updated stocks amounts to taxation. The Assessee, MRS Jewellery is a partnership firm having two...
![Value Attributed to as Non-updated Stock Amounts to Taxation: ITAT partly sustains Order of AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Value-Attributed-Non-updated-Stock-Amounts-Taxation-ITAT-partly-sustains-Order-AO-TAXSCAN.jpg "Value Attributed to as Non-updated Stock Amounts to Taxation: ITAT partly sustains Order of AO [Read Order]")
Subsidy Received by Nestle India as Incentive to Establish Industrial Unit is Capital receipt, Cannot be Adjusted Against Block of Assets: Delhi HC [Read Order]
In a significant ruling the Delhi High Court observed that the Subsidy received by Nestle India, the assessee as incentive to establish industrial unit is Capital receipt and cannot be adjusted...
![Subsidy Received by Nestle India as Incentive to Establish Industrial Unit is Capital receipt, Cannot be Adjusted Against Block of Assets: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Subsidy-Received-by-Nestle-India-Nestle-India-Subsidy-Received-Incentive-to-Establish-Industrial-Unit-is-Capital-receipt-Block-of-Assets-Delhi-Highcourt-taxscan.jpg "Subsidy Received by Nestle India as Incentive to Establish Industrial Unit is Capital receipt, Cannot be Adjusted Against Block of Assets: Delhi HC [Read Order]")
No addition can be made on Belated Deposits of PF and ESIC Contributions before Amendment in Sec 36(1)(va) of Income Tax Act: ITAT [Read Order]
The Mumbai Bench Income Tax Appellate Tribunal (ITAT) recently held that no addition could be made on belated deposits of Provident Fund and Employee State Insurance Corporation before the amendment...
![No addition can be made on Belated Deposits of PF and ESIC Contributions before Amendment in Sec 36(1)(va) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Late-Deposit-of-Employees-Contribution-ITAT-Employee-Contribution-TAXSCAN-1.jpg "No addition can be made on Belated Deposits of PF and ESIC Contributions before Amendment in Sec 36(1)(va) of Income Tax Act: ITAT [Read Order]")
Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) disallowed the addition made on income tax return on the ground that the cash deposits are unexplained and hence set aside the exparte decree...
![Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-Income-Tax-Ground-Unexplained-Cash-Deposits-ITAT-Exparte-TAXSCAN.jpg "Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]")
Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) set aside the order discrediting the valuation report of the assessee without substantial reason where there is a failure to call for the...
![Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Failure-call-Mandate-DVO-report-Income-Tax-Act-ITAT-order-Discrediting-Valuation-Report-Assessee-Substantial-Reason-TAXSCAN.jpg "Failure to call for Mandate DVO report under Income Tax Act: ITAT sets aside order Discrediting Valuation Report of Assessee without Substantial Reason [Read Order]")