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![No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-No-Penalty-Surrendered-Income-Surrendered-Income-without-Statement-recorded-under-Income-Tax-Act-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]")
No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty under Section 271AAA of the Income Tax Act, 1961 shall not be attracted...
![Satisfaction u/s 151 of Income Tax Act is not Empty Formality: ITAT quashes Income Tax Addition made in Mechanical and Stereotyped Manner [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Satisfaction-us-151-of-Income-Tax-Act-is-not-Empty-Formality-ITAT-quashes-Income-Tax-Addition-made-in-Mechanical-and-Stereotyped-Manner-TAXSCAN.jpg "Satisfaction u/s 151 of Income Tax Act is not Empty Formality: ITAT quashes Income Tax Addition made in Mechanical and Stereotyped Manner [Read Order]")
![CBDT notifies Income Tax Sixth Amendment Rules 2023 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/CBDT-notifies-Income-Tax-Sixth-Amendment-Rules-2023-TAXSCAN.jpg "CBDT notifies Income Tax Sixth Amendment Rules 2023 [Read Notification]")
CBDT notifies Exemptions to Startups on Income Tax Chargeable u/s 56(2)(viib) of Income Tax Act [Read Notification]
Suppressing the notification vide number S.O. 1131(E) dated 5th March 2019, the Central Board of Direct Taxes (CBDT) has notified the exemption to startups on income tax chargeable under the head...
![CBDT notifies Exemptions to Startups on Income Tax Chargeable u/s 56(2)(viib) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/CBDT-notifies-Exemptions-to-Startups-on-Income-Tax-Chargeable-Income-Tax-Act-TAXSCAN.jpg "CBDT notifies Exemptions to Startups on Income Tax Chargeable u/s 56(2)(viib) of Income Tax Act [Read Notification]")
CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 2274(E) on 24th May 2023 has notified the class or classes of persons, for the purposes of Section 56(2)(viib)(ii) of the Income...
![CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/CBDT-Class-of-persons-Income-Tax-Act-Taxscan.jpg "CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]")
Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that the assessee did not claim the amount of exempted allowance in return of income therefore the bench upheld the...
![Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Rectification-Application-for-Exempted-Allowance-Claim-Exempted-Allowance-Claim-ITAT-upholds-Claim-Rejection-ITAT-Claim-Rejection-Income-Tax-Act-Income-Tax-Taxscan.jpg "Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]")
