![Income Tax Penalty u/s 271(1)(c)cannot be Levied based on Information from Outside Agency/ Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Penalty-Information-Outside-Agency-Dept-ITAT-TAXSCAN.jpg "Income Tax Penalty u/s 271(1)(c)cannot be Levied based on Information from Outside Agency/ Dept: ITAT [Read Order]")
Income Tax Penalty u/s 271(1)(c)cannot be Levied based on Information from Outside Agency/ Dept: ITAT [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that income tax penalty under section 271(1)(c) cannot be...
![“Transponder Charges” are not Royalty as Indo-US Treaty, No TDS: ITAT grants relief to Viacom 18 Media [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Transponder-Charges-Royalty-Indo-US-Treaty-TDS-ITAT-Viacom-18-Media-TAXSCAN.jpg "“Transponder Charges” are not Royalty as Indo-US Treaty, No TDS: ITAT grants relief to Viacom 18 Media [Read Order]")
![Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Air-India-ITAT-Old-Inventory-of-Spares-Parts-Loss-TAXSCAN.jpg "Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]")
![Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Hedging-Transactions-Non-Cleared-Securities-ITAT-Disallowance-TAXSCAN.jpg "Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]")
![No Effort by AO to Send Draft Assessment Order to Correct Address: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/AO-to-Send-Draft-Assessment-Order-to-Correct-Address-ITAT-quashes-Order-TAXSCAN.jpg "No Effort by AO to Send Draft Assessment Order to Correct Address: ITAT quashes Order [Read Order]")
Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance of loss on trading in shares and Communities based on fictitious transactions is not permissible when the...
![Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-Loss-evidence-adduced-ITAT-TAXSCAN.jpg "Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]")
Rules cannot override the Act, relief allowable u/s 90 in respect of the Foreign Tax Credit: ITAT [Read Order]
The Mumbai Bench Income Tax Appellate Tribunal (ITAT)has held that Rules cannot override the Act, relief allowable u/s 90 of the Income Tax Act,1961 in respect of the Foreign Tax Credit (FTC). ...
![Rules cannot override the Act, relief allowable u/s 90 in respect of the Foreign Tax Credit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Rules-allowable-Foreign-Tax-Credit-ITAT-TAXSCAN.jpg "Rules cannot override the Act, relief allowable u/s 90 in respect of the Foreign Tax Credit: ITAT [Read Order]")
CIT(A) order non-granting of TDS & Foreign Taxes paid Credit in the absence of Assessee: ITAT restored to Fresh Adjudication [Read Order]
CIT(A) non-granting of TDS & Foreign Taxes paid credit on non-appearance of the assessee, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restored the issue to the file of AO for...
![CIT(A) order non-granting of TDS & Foreign Taxes paid Credit in the absence of Assessee: ITAT restored to Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CITA-TDS-Foreign-Taxes-Credit-ITAT-TAXSCAN.jpeg "CIT(A) order non-granting of TDS & Foreign Taxes paid Credit in the absence of Assessee: ITAT restored to Fresh Adjudication [Read Order]")
Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding a penalty order passed under section 271F of the Income Tax Act, 1961 held that the declaration of income under the Income...
![Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Declaration-of-income-IDS-Income-Tax-Return-ITAT-Penalty-Taxsscan.jpg "Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]")
Return Filed by a Govt Undertaking on the basis of Provisional Information must be accepted since the Audit of Account was not within Hands of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of the assessee and held that Return filed by a Govt Undertaking on the basis of Provisional Information must be accepted since the audit...
![Return Filed by a Govt Undertaking on the basis of Provisional Information must be accepted since the Audit of Account was not within Hands of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/ITAT-Taxscan.jpg "Return Filed by a Govt Undertaking on the basis of Provisional Information must be accepted since the Audit of Account was not within Hands of Assessee: ITAT [Read Order]")
Penalty Proceedings without Application of Mind by Assessing Officer is Invalid: ITAT [Read Order]
The Cuttack bench of Income Tax Appellate Tribunal (ITAT) has recently ruled that penalty proceeding initiated without the application of mind by the Assessing Officer is invalid. In the present case...
![Penalty Proceedings without Application of Mind by Assessing Officer is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty Proceedings without Application of Mind by Assessing Officer is Invalid: ITAT [Read Order]")
![Receipt from Compulsory Acquisition of Agricultural Land is not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Compulsory-Acquisition-Taxscan.jpg "Receipt from Compulsory Acquisition of Agricultural Land is not Taxable: ITAT [Read Order]")