![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]")
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]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that material found from premises of third parties could not be...
![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]")
TDS on Net Salary is Permissible under Income Tax Act: ITAT deletes Income Tax Addition [Read Order]
The Indore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the deduction of TDS on net salary instead of gross salary is permissible under the Income Tax Act, 1961. The assessee,...
![TDS on Net Salary is Permissible under Income Tax Act: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/TDS-Net-Salary-Income-Tax-Act-ITAT-Addition-taxscan.jpg "TDS on Net Salary is Permissible under Income Tax Act: ITAT deletes Income Tax Addition [Read Order]")
Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Indore Bench allowed additional depreciation as Purchase of raw material and making packing material is manufacture. The assessee-company, M/s. Madhuri...
![Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Purchase-Raw-Material-packing-material-manufacture-ITAT-Depreciation-TAXSCAN.jpg "Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]")
Delay in Appointment of Auditor and Finalization of Annual Accounts, not valid ground for imposing Penalty: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), held that Delay in appointment of Auditor and finalization of annual accounts are not valid ground for imposing penalty. The assessee, M/s. Madhya...
![Delay in Appointment of Auditor and Finalization of Annual Accounts, not valid ground for imposing Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Delay-Appointment-Auditor-Finalization-Annual-Accounts-Penalty-ITAT-TAXSCAN.jpg "Delay in Appointment of Auditor and Finalization of Annual Accounts, not valid ground for imposing Penalty: ITAT [Read Order]")