![Legal Prerequisite for Reopening Beyond 4 years u/s 147 not Fulfilled: ITAT sets aside Reassessment Orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Legal-Prerequisite-ITAT-Reassessment-Orders-taxscan.jpg "Legal Prerequisite for Reopening Beyond 4 years u/s 147 not Fulfilled: ITAT sets aside Reassessment Orders [Read Order]")
Legal Prerequisite for Reopening Beyond 4 years u/s 147 not Fulfilled: ITAT sets aside Reassessment Orders [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently in an appeal filed before it, on finding that the legal prerequisite for...
![ITAT upholds quashing of Time-Barred Scrutiny Assessment Order u/s 143(3) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Time-Barred-Scrutiny-Assessment-Order-us-1433-of-Income-Tax-Act-TAXSCAN.jpg "ITAT upholds quashing of Time-Barred Scrutiny Assessment Order u/s 143(3) of Income Tax Act [Read Order]")
![Appeal cannot be Dismissed on Ground of assessee filing against VSVS : ITAT set-aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Appeal-cannot-be-Dismissed-on-Ground-VSVS-ITAT-TAXSCAN.jpg "Appeal cannot be Dismissed on Ground of assessee filing against VSVS : ITAT set-aside Order [Read Order]")
![Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-of-Donation-Donation-made-to-Trust-Income-Tax-ITAT-taxscan.jpg "Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]")
![Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Basic-Condition-as-Stipulated-under-Section-2711c-ITAT-Penalty-TAXSCAN.jpg "Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]")
Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]
The Two Bench of Justices M.R. Shah and B.V. Nagarathna of the Supreme Court invalidated the decisions of the Income Tax Appellate Tribunal (ITAT) and the Bombay High Court in order to uphold that...
![Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Assets-Transfer-of-development-rights-Supreme-Court-Bombay-High-Court-Judgment-Stock-in-trade-Transfer-of-Development-Rights-by-Builder-is-Transfer-of-Capital-Assets-Taxscan.jpg "Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]")
Reassessment order passed u/s 147 of the Income Tax Act on Account of Mere Change of Opinion is not valid: ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the re-assessment order passed under Section 147 of the Income Tax Act, 1961 on account of mere change of...
![No Disallowance of Expenditure on Account of Accumulated Service Tax of Rent: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-of-Expenditure-Account-of-Accumulated-Service-Tax-of-Rent-ITAT-TAXSCAN.jpg "No Disallowance of Expenditure on Account of Accumulated Service Tax of Rent: ITAT [Read Order]")
Amounts Advanced for Business Transactions Between Parties Will not fall within the Definition of “Deemed Dividend”u/s 2(22)(e) of Income Tax Act: ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the amount advanced for business transactions between parties would not fall within the definition of deemed dividend...
Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that revision of the assessment order passed without enquiry into CFS charges paid to continental warehousing corporation...
![Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Order-passed-without-enquiry-Assessment-Order-CFS-Charges-Continental-Warehousing-Corporation-ITAT-Revision-Order-taxscan.jpg "Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]")
ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT), dismissed an appeal stating lapse of more than 2 years to substitute the name of legal heirs for the deceased assessee. In the...
![ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Appeal-Substitute-Name-of-Legal-Heirs-for-Deceased-Assessee-TAXSCAN.jpg "ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]")
Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]
The Hyderabad Bench Of Income Tax Appellate Tribunal (ITAT)has recently held that interest income of co-operative credit societis from credit balances deductible under section 80P(2)(a)(i) of the...
![Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-of-Co-operative-Credit-Societies-Co-operative-Credit-Societies-Interest-Income-Credit-Balances-ITAT-taxscan.jpg "Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]")