![Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Diamond-Testing-Certification-Services-GIA-USA-India-USA-DTAA-Gujarat-HC-Appeal-Income-Tax-Department-TAXSCAN.jpg "Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]")
Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]
The High Court of Gujarat has held that diamond testing & certification services provided by the Gemological Institute of America (GIA) USA is...
![Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Loss-on-sale-of-Investment-Investment-sale-of-Investment-Book-Profits-Capital-Profits-computing-book-profits-ITAT-Taxscan.jpg "Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]")
![Giving Opportunity to Produce Necessary Documents before AO for Verification would meet the ends of Justice: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/opportunity-to-produce-necessary-documents-AO-for-verification-would-meet-the-ends-of-justice-ITAT-TAXSCAN.jpg "Giving Opportunity to Produce Necessary Documents before AO for Verification would meet the ends of Justice: ITAT [Read Order]")
![Excess Stocks should Represent Income from Undisclosed Sources: Orissa HC Dismisses Appeal by Income Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Excess-Stocks-Represent-Income-Undisclosed-Sources-Orissa-HC-Appeal-Income-Tax-Department-TAXSCAN.jpg "Excess Stocks should Represent Income from Undisclosed Sources: Orissa HC Dismisses Appeal by Income Tax Department [Read Order]")
![No Authority given to ITAT to recall an Order passed u/s 254(2) of Income Tax Act after expiry of four years: Delhi HCÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Authority-Income-Tax-Act-Delhi-High-Court-taxscan.jpg "No Authority given to ITAT to recall an Order passed u/s 254(2) of Income Tax Act after expiry of four years: Delhi HCÂ [Read Order]")
ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) restores the case to Commissioner of Income Tax (Exemption) [CIT (E)] and held that tax exemption under Section 12 AB of Income Tax Act,...
![ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Restores-Appeal-on-Condition-to-Furnish-Required-Set-of-Documents-to-Avail-Tax-Exemption-for-Trust-Income-Tax-TAXSCAN.jpg "ITAT Restores Appeal on Condition to Furnish Required Set of Documents to Avail Tax Exemption for Trust u/s 12 AB of Income Tax [Read Order]")
Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT), held that the expenditure in relation to increase in authorized share capital is of capital expenditure or revenue expenditure is out of the...
![Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-of-Expenditure-Mistake-Apparent-on-Record-Outside-Purview-Income-Tax-Act-ITAT-TAXSCAN.jpg "Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]")
Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed deduction of expenditure and held that the income shall be determined on net profit even though the society is not registered...
![Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-shall-be-determined-on-Net-Profit-even-Society-Registered-Income-Tax-Act-ITAT-allows-Deduction-of-Expenditure-TAXSCAN.jpg "Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]")
Penalty Proceedings for Concealment of Income not sustainable when Notice issued by AO is Vague and Ambiguous: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty proceedings for concealment of income are not sustainable when the notice issued by the Assessing Officer is vague...
![Penalty Proceedings for Concealment of Income not sustainable when Notice issued by AO is Vague and Ambiguous: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Proceedings-for-Concealment-of-Income-sustainable-when-Notice-Ambiguous-ITAT-TAXSCAN.jpg "Penalty Proceedings for Concealment of Income not sustainable when Notice issued by AO is Vague and Ambiguous: ITAT [Read Order]")
Income Tax Not Leviable if no Right over Income Accrues upon Transfer of Development Rights: ITAT [Read Order]
The Ahemdabad Bench of Income Tax Appellate Tribunal (ITAT) held that assessee did not get the right over the income as per accrual accounting system as provided under the provisions of section 145...
![Income Tax Not Leviable if no Right over Income Accrues upon Transfer of Development Rights: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Not-Leviable-Right-over-Income-Accrues-upon-Transfer-of-Development-Rights-ITAT-TAXSCAN.jpg "Income Tax Not Leviable if no Right over Income Accrues upon Transfer of Development Rights: ITAT [Read Order]")
Issuance of Notice for Reopening Income Tax Assessment by ITO not having Territorial jurisdiction is invalid: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that reopening of the assessment recorded by an Authority, who does not having territorial jurisdiction over the assessee is bad in...
![Issuance of Notice for Reopening Income Tax Assessment by ITO not having Territorial jurisdiction is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Issuance-of-notice-for-reopening-income-tax-assessment-by-ITO-territorial-jurisdiction-is-invalid-ITAT-TAXSCAN.jpg "Issuance of Notice for Reopening Income Tax Assessment by ITO not having Territorial jurisdiction is invalid: ITAT [Read Order]")
No Power to Review by Reopening Assessment under Section 147 of Income Tax Act if no Addition made by AO During Original Assessment : ITAT [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) held that Assessing Officer has no power to review by reopening assessment under Section 147 of the Income Tax Act,1961 if no addition is made...
![No Power to Review by Reopening Assessment under Section 147 of Income Tax Act if no Addition made by AO During Original Assessment : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Power-to-Review-by-Reopening-Assessment-Income-Tax-Act-if-no-Addition-made-by-AO-During-Original-Assessment-ITAT-TAXSCAN.jpg "No Power to Review by Reopening Assessment under Section 147 of Income Tax Act if no Addition made by AO During Original Assessment : ITAT [Read Order]")