![ITAT Quashes Reassessment Proceedings Initiated Solely Based on Vague Information from Investigation Wing [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Quashes-Reassessment-Proceedings-Vague-Information-from-Investigation-Wing-Reassessment-Proceedings-Investigation-Wing-Reassessment-taxscan.jpg "ITAT Quashes Reassessment Proceedings Initiated Solely Based on Vague Information from Investigation Wing [Read Order]")
ITAT Quashes Reassessment Proceedings Initiated Solely Based on Vague Information from Investigation Wing [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the reassessment proceedings initiated solely based on the vague information...
![Price Incurred in Excess of FRP by Sugar Cooperatives for Sugar Cane Purchased Allowable as per Latest Amendment u/s 155(19): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Price-Incurred-in-Excess-of-FRP-Sugar-Cooperatives-for-Sugar-Cane-Purchased-Allowable-as-per-Latest-Amendment-ITAT-TAXSCAN.jpg "Price Incurred in Excess of FRP by Sugar Cooperatives for Sugar Cane Purchased Allowable as per Latest Amendment u/s 155(19): ITAT [Read Order]")
![ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Penalty-us-2711c-Unfair-Representation-During-Liquidation-Process-TAXSCAN.jpg "ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]")
![Reassessment Proceedings Without Issuance of Notice u/s 143(2) is Bad in Law: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Reassessment-Proceedings-Issuance-of-Notice-ITAT-quashes-Assessment-Order-taxscan.jpg "Reassessment Proceedings Without Issuance of Notice u/s 143(2) is Bad in Law: ITAT quashes Assessment Order [Read Order]")
![Failure to file Audit Report through a Qualified CA: ITAT upholds Penalty u/s 271B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Failure-to-file-Audit-Report-through-a-Qualified-CA-ITAT-upholds-Penalty-us-271B-of-Income-Tax-Act-TAXSCAN.jpg "Failure to file Audit Report through a Qualified CA: ITAT upholds Penalty u/s 271B of Income Tax Act [Read Order]")
![Lessor entitled to Claim Depreciation on Leased Assets under Finance Lease: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Lessor-Depreciation-Leased-Assets-under-Finance-Lease-Depreciation-on-Leased-Assets-ITAT-taxscan.jpg "Lessor entitled to Claim Depreciation on Leased Assets under Finance Lease: ITAT [Read Order]")
![Deletion of Unexplained Income without a Remand Report is Invalid: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deletion-of-unexplained-income-unexplained-income-remand-report-ITAT-order-taxscan.jpg "Deletion of Unexplained Income without a Remand Report is Invalid: ITAT quashes Order [Read Order]")
Common Interest received on Deposits with Co-Operative Bank as Income is not Eligible for Deduction u/s.80P(2)(d): ITAT [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) held that the common interest received on deposits with co-operative Bank as income is not eligible for deduction under Section 80P(2)(d)...
![Common Interest received on Deposits with Co-Operative Bank as Income is not Eligible for Deduction u/s.80P(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Common-interest-received-on-deposits-Co-operative-Bank-as-income-is-not-eligible-for-deduction-ITAT-TAXSCAN.jpg "Common Interest received on Deposits with Co-Operative Bank as Income is not Eligible for Deduction u/s.80P(2)(d): ITAT [Read Order]")
Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenue's Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, dismissed the revenue’s appeal, on finding that there is lack of jurisdiction under Section 153C of...
![Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Lack-of-Jurisdiction-Absence-of-Incriminating-Materials-Jurisdiction-Incriminating-Materials-ITAT-Revenues-Appeal-taxscan.jpg "Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]")
Enforceability of Agreement to Sale cannot be denied Unless Fresh Affidavits are Verified: ITAT deletes Addition u/s 69 [Read Order]
The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 69 of the Income Tax Act, 1961 holding that the enforceability of agreement to sale could not be...
![Enforceability of Agreement to Sale cannot be denied Unless Fresh Affidavits are Verified: ITAT deletes Addition u/s 69 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Enforceability-of-Agreement-to-Sale-Unless-Fresh-Affidavits-are-Verified-ITAT-deletes-Addition-us-69-TAXSCAN.jpg "Enforceability of Agreement to Sale cannot be denied Unless Fresh Affidavits are Verified: ITAT deletes Addition u/s 69 [Read Order]")
AO not bound to Make Enquiry unless Assessee has Discharged Initial Onus u/s 68: ITAT Upholds Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has upheld the additional holding that the Assessing officer (AO) was not bound to make enquiry unless the assessee had discharged the initial...
![AO not bound to Make Enquiry unless Assessee has Discharged Initial Onus u/s 68: ITAT Upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/AO-not-bound-to-Make-Enquiry-unless-Assessee-has-Discharged-Initial-Onus-us-68-ITAT-Upholds-Addition-TAXSCAN.jpg "AO not bound to Make Enquiry unless Assessee has Discharged Initial Onus u/s 68: ITAT Upholds Addition [Read Order]")
No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no penalty should be levied under Section 271(1)(b) of the Income Tax Act, 1961 for failure to sign a consent letter...
![No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-penalty-us-2711b-of-Income-Tax-Act-for-failure-to-sign-on-Consent-Letter-authorized-by-the-Government-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]")