![No scope for Reassessment on issue which is Subject Matter of Appeal before Appellate Authority: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reassessment-Subject-Matter-of-Appeal-Appeal-Appellate-Authority-ITAT-Income-Tax-taxscan.jpg "No scope for Reassessment on issue which is Subject Matter of Appeal before Appellate Authority: ITAT [Read Order]")
No scope for Reassessment on issue which is Subject Matter of Appeal before Appellate Authority: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that as per provisions of 3rd proviso to Section 147 of the Income Tax Act, 1961,...
![No Addition towards Unsecured Loan can be Made by AO in Absence of Incriminating Materials found during Search and Seizure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Unsecured-Loan-AO-Absence-Incriminating-Materials-Search-Seizure-ITAT-TAXSCAN.jpg "No Addition towards Unsecured Loan can be Made by AO in Absence of Incriminating Materials found during Search and Seizure: ITAT [Read Order]")
![Reopening Beyond 4 years of Original Assessment without failure to Disclose Material Facts is Bad in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reopening-Original-Assessment-Disclose-Material-Facts-is-Bad-in-Law-Bad-in-Law-Disclose-Material-ITAT-taxscan.jpg "Reopening Beyond 4 years of Original Assessment without failure to Disclose Material Facts is Bad in Law: ITAT [Read Order]")
![Inadvertent error in filing Income Tax Return forms: ITAT directs recompute Income of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Inadvertent-error-filing-Income-Tax-Return-Income-Tax-Return-filing-Income-Tax-Return-forms-ITAT-Income-assessee-taxscan.jpg "Inadvertent error in filing Income Tax Return forms: ITAT directs recompute Income of Assessee [Read Order]")
![ITAT treats Cash Deposit during Demonetization Period u/s 69A on Failure to Produce Documentary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-treats-Cash-Deposit-during-Demonetization-Period-Demonetization-ITAT-Cash-Deposit-Produce-Documentary-Evidence-taxscan.jpg "ITAT treats Cash Deposit during Demonetization Period u/s 69A on Failure to Produce Documentary Evidence [Read Order]")
ITAT upholds Approval Granted u/s 153D of Income Tax Act in light of Seized Material and appraisal report submitted by Investigation Wing [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai Bench upheld that approval granted under Section 153D of Income Tax Act,1961 is in light of seized material and appraisal report submitted...
![ITAT upholds Approval Granted u/s 153D of Income Tax Act in light of Seized Material and appraisal report submitted by Investigation Wing [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-ITAT-upholds-Approval-Granted-Income-Tax-Act-Income-Tax-Act-in-light-of-Seized-Material-taxscan.jpg "ITAT upholds Approval Granted u/s 153D of Income Tax Act in light of Seized Material and appraisal report submitted by Investigation Wing [Read Order]")
Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) sustainedthe addition of partial amount of Rs. 1 crore as unexplained money under Section 69A of the Income Tax Act, 1961. The tribunal...
![Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-Furnish-Material-Evidence-Gift-Received-Marriage-ITAT-Partial-Unexplained-Money-taxscan.jpg "Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]")
Assessee cannot Question Power of Transferring Cases of Authorities from one Jurisdiction to Another: ITAT upholds Assessment Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai Bench held that the assessee cannot question the power of transferring cases of authorities from one jurisdiction to another. Therefore, the bench...
![Assessee cannot Question Power of Transferring Cases of Authorities from one Jurisdiction to Another: ITAT upholds Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/transferring-cases-of-authorities-from-one-jurisdiction-to-another-ITAT-upholds-assessment-order-transferring-cases-of-authorities-assessment-order-ITAT-taxscan.jpg "Assessee cannot Question Power of Transferring Cases of Authorities from one Jurisdiction to Another: ITAT upholds Assessment Order [Read Order]")
CIT(A) may Suo moto initiates Enhancement Proceedings if necessary; Not out of Jurisdiction: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has made a ruling stating that the Commissioner of Income Tax (Appeals) [CIT(A)] has the authority to initiate enhancement proceedings on...
![CIT(A) may Suo moto initiates Enhancement Proceedings if necessary; Not out of Jurisdiction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/CITA-moto-initiates-Enhancement-Not-Jurisdiction-ITAT-TAXSCAN.jpg "CIT(A) may Suo moto initiates Enhancement Proceedings if necessary; Not out of Jurisdiction: ITAT [Read Order]")
Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that issuance of cheque to associate concerns from OCC account cannot be construed as diversion of working capital loan Fund. The...
![Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Issuance-of-Cheque-Associate-Concerns-from-OCC-Account-Diversion-of-WC-Loan-Fund-Issuance-of-Cheque-to-Associate-Concerns-ITAT-deletes-addition-taxscan.jpg "Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]")
Special Auditor rightly follows SA-505 Prescribed by ICAI and such Report cannot be merely rejected by AO if it is Contrary to Appraisal Report Submitted by Investigation Wing: ITAT [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that the special auditor highly followed the procedures prescribed by the Institute of Chartered Accountants of India while auditing...
![Special Auditor rightly follows SA-505 Prescribed by ICAI and such Report cannot be merely rejected by AO if it is Contrary to Appraisal Report Submitted by Investigation Wing: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Special-Auditor-ITAT-Special-Auditor-rightly-follows-SA-505-ICAI-Appraisal-Report-Investigation-Wing-taxscan.jpg "Special Auditor rightly follows SA-505 Prescribed by ICAI and such Report cannot be merely rejected by AO if it is Contrary to Appraisal Report Submitted by Investigation Wing: ITAT [Read Order]")
