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Penalty u/s 271D Imposed for Cash Transaction in Wrong AY: ITAT Directs AO to Delete Penalty [Read Order]

Sneha Sukumaran Mullakkal

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed the deletion of penalty imposed under Section 271D of Income Tax Act,1961,...

ITAT restores appeal to CIT(A) over property valuation, Citing assessee's inability to access Notice...

ITAT Overturns AO's Addition of Rs. 1.4 Lakh u/s 68, Validating Assessee's Cash and Insurance...

ITAT upholds AO's Addition of Rs. 11.4 Lakhs for unexplained cash, citing Assessee's insufficient...

ITAT upholds AO's Addition of Rs. 9.65 Lakh u/s 56(2)(x) as Gift not Qualifying from a Relative...

JCIT approval for Notices Issued 3-4 Years Post Assessment Found Non-Compliant with Section 151: Delhi HC quashes Income Tax Notice [Read Order]

The Delhi High Court quashed an income tax notice after finding that the Joint Commissioner of Income Tax (JCIT) approval for notices issued 3-4 years post-assessment was non-compliant with Section...

JCIT cannot Transfer Case u/s 127 to Subordinate Officer without Hearing Assessee: Patna HC [Read Order]

The Joint Commissioner of Income Tax ( JCIT ) cannot transfer a case to the subordinate officer behind the back of the assessee. The Patna High Court ruled that the transfer shall take place only...

Patna HC - Income Tax Case - JCIT Transfer - Tax Law - Section 127 - Section 148 - Tax Court Ruling - taxscan

Tamil Nadu Advocates Welfare Fund exempted from Income Tax u/s 23 of AWF Act: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Tamil Nadu Advocates Welfare Fund is exempted from Income Tax under section 23 of the AWS Act, against the provisions of...

“Dragging the assessee to litigation and creating another Demand”: ITAT raps AO and Appellate Authority for failing to examine facts on record [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) quashed an Assessment Order passed by an Assessing Officer under Sections 144 and 147 of the Income Tax Act, 1961. The aforementioned...

JCIT issues Penalty Order under Income Tax Act beyond Limitation, Deemed Invalid: ITAT deletes Penalty [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty, noting that the Joint Commissioner of Income Tax ( JCIT ) ought to have passed the order on or before 31.03.2015,...

Approval of Reassessment Order by JCIT without Recording Reasons: ITAT invalidates Income Tax Notice and Reassessment Proceedings [Read Order]

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently invalidated the Income Tax Notice under Section 148 and the reassessment proceedings due to non-compliance with Section 151 of...

Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]

The Allahabad High Court (HC) has held that assessment under section 153 A of the Income Tax Act is invalid in absence of independent application of mind by JCIT before granting Approval. ...