![Non-filing of the Audit report along with Return of Income is a Procedural Omission and cant be claimed as an Exception: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Non-filing-of-the-Audit-report-Return-of-Income-is-a-Procedural-Omission-Audit-report-Return-of-Income-ITAT-taxscan.jpg "Non-filing of the Audit report along with Return of Income is a Procedural Omission and cant be claimed as an Exception: ITAT [Read Order]")
Non-filing of the Audit report along with Return of Income is a Procedural Omission and can't be claimed as an Exception: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAI) held that the non-filing of the audit report along with the return of income is a...
![Credits to Capital Account shown as Gift from assessees Aunt are not Unexplained Credits :ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Credits-Capital-Account-Gift-Aunt-Unexplained-Credits-ITAT-deletes-Addition-income-tax-income-tax-taxscan.jpg "Credits to Capital Account shown as Gift from assessees Aunt are not Unexplained Credits :ITAT deletes Addition [Read Order]")
![ITAT Upholds addition made on account of Trading in Penny Stock Shares of Shell Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Stock-share-addition-made-account-of-Trading-Penny-Stock-Shares-Shell-Company-ITAT-TAXSCAN.jpg "ITAT Upholds addition made on account of Trading in Penny Stock Shares of Shell Company [Read Order]")
![Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Material-Found-from-Premises-Third-Parties-cannot-be-utilized-assessee-for-making-Assessment-ITAT-TAXSCAN.jpg "Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]")
![Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Levy-of-Penalty-Penalty-Income-Tax-Act-ITAT-taxscan.jpg "Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]")
![Revision Order cannot be based on Mere Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Revision-Order-Mere-Change-ITAT-Taxscan.jpg "Revision Order cannot be based on Mere Change of Opinion: ITAT [Read Order]")
![Bank Charges paid for Obtaining Loan is Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Bank-Charges-Loan-Revenue-Expenditure-ITAT-TAXSCAN.jpg "Bank Charges paid for Obtaining Loan is Revenue Expenditure: ITAT [Read Order]")
![Firm liable for Levy of Surcharge Only When Total Income Exceeds One Crore Rupees: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Levy-of-Surcharge-Total-Income-ITAT-Surcharge-Income-Taxscan.jpg "Firm liable for Levy of Surcharge Only When Total Income Exceeds One Crore Rupees: ITAT [Read Order]")
Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for 'Concealment of Income': ITAT [Read Order]
In an assessee-favouring ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the addition under section 50C, being a deeming provision cannot be a sole ground to attract...
![Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for Concealment of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Deeming-Provision-Income-Tax-Penalty-Income-ITAT-TAXSCAN.jpg "Addition under Deeming Provision of S. 50C cannot Attract Income Tax Penalty for Concealment of Income: ITAT [Read Order]")
No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT), allowed deletion of addition on unexplained cash deposits as there was no due verification of records by Assessing Officer (AO). On...
![No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-due-verification-of-records-by-AO-ITAT-allows-deletion-of-addition-on-unexplained-cash-deposits-TAXSCAN.jpg "No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]")
Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed penalty as there was showing less Long Term Capital Gain (LTCG) by making false claim under Section 54EC without making...
![Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Showing-Less-LTCG-by-making-False-Claim-without-making-investment-ITAT-deletes-Penalty-TAXSCAN.jpg "Showing less LTCG by making false claim u/s 54EC without making investment: ITAT confirms penalty [Read Order]")