![Addition made by AO Without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-Addition-made-by-AO-AO-Sufficient-Opportunity-to-Assessee-Sufficient-Opportunity-Assessee-ITAT-Directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Addition made by AO Without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]")
Addition made by AO Without Giving Sufficient Opportunity to Assessee: ITAT Directs Re-adjudication [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the addition made without giving the...
![Additional Income not from any Unexplained Source should be Taxable at Normal Tax Rates as Applicable to Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-Assessung-officer-Income-Tax-Act-Income-Surrendered-income-unexplained-source-Tax-Rate-Business-taxscan.jpg "Additional Income not from any Unexplained Source should be Taxable at Normal Tax Rates as Applicable to Business Income: ITAT [Read Order]")
![Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Business-income-Non-Mentioning-of-Business-Income-Books-of-Account-Business-Income-in-Books-of-Account-Invoke-taxscan.jpg "Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]")
![Set off of any Loss Prior to AY 2016-17 cannot be Denied u/s 115BBE of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/income-tax-act-income-tax-act-set-off-ITAT-loss-denial-taxscan.jpg "Set off of any Loss Prior to AY 2016-17 cannot be Denied u/s 115BBE of Income Tax Act: ITAT [Read Order]")
![Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Loss-Business-Income-Rejected-Unexplained-Income-ITAT-Re-adjudication-TAXSCAN.jpg "Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]")
Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer by treating the agriculture income as income from the undisclosed sources. ...
![Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/agricultural-income-agriculture-incometax-ITAT-TAXSCAN.jpg "Addition made by AO by treating Agricultural Income as income from Undisclosed Sources : ITAT Deletes Addition [Read Order]")
No Reassessment proceedings initiated u/s. 148Â of IT Act without Proper Verification of Recorded details of Documents : ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal(ITAT) held that no reassessment proceedings were initiated under section 148 of the Income Tax Act,1961 without proper verification of recorded...
![No Reassessment proceedings initiated u/s. 148Â of IT Act without Proper Verification of Recorded details of Documents : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Reassessment-proceedings-IT-Act-Proper-Verification-of-Recorded-details-of-Documents-Recorded-details-of-Documents-ITAT-taxscan.jpg "No Reassessment proceedings initiated u/s. 148Â of IT Act without Proper Verification of Recorded details of Documents : ITAT [Read Order]")
Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that a valuation report of equity shares prepared by an accountant is not sacrosanct. Hence the bench upheld the...
![Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Valuation-Report-of-Equity-Shares-prepared-by-Accountant-is-not-Sacrosanct-Valuation-Report-of-Equity-Shares-Equity-Shares-Valuation-Report-Accountant-ITAT-upholds-Revision-Order-ITAT-Taxscan.jpg "Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]")
Deduction u/s 80P of IT Act cannot Denied Due to Late Filing of ROI : ITAT quashes Order [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal( ITAT) held that the deduction under section 80P of Income Tax Act,1961 cannot be denied due to late filing of return of income (ROI). Kishorepur...
![Deduction u/s 80P of IT Act cannot Denied Due to Late Filing of ROI : ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-cannot-denied-due-to-late-filing-of-ROI-ITAT-quashes-order-TAXSCAN.jpg "Deduction u/s 80P of IT Act cannot Denied Due to Late Filing of ROI : ITAT quashes Order [Read Order]")
ITAT quashes Order for deleting Disallowance of Educational Cess Claim u/s 115JB of IT Act without Proper Verification [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) quashed the order passed by the commissioner of income tax( appeals) for deleting the disallowance of education cess claim made by the...
![ITAT quashes Order for deleting Disallowance of Educational Cess Claim u/s 115JB of IT Act without Proper Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-quashes-Order-for-deleting-Disallowance-of-Educational-Cess-of-IT-Act-without-proper-verification-ITAT-TAXSCAN-1.jpg "ITAT quashes Order for deleting Disallowance of Educational Cess Claim u/s 115JB of IT Act without Proper Verification [Read Order]")
![ITAT deletes Addition due to Time-Barred Issuance of Notice u/s 143(2) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Addition-due-to-Time-Barred-Issuance-of-Notice-ITAT-Time-Barred-Issuance-of-Notice-Issuance-of-Notice-Notice-ITAT-deletes-Addition-Taxscan.jpg "ITAT deletes Addition due to Time-Barred Issuance of Notice u/s 143(2) [Read Order]")
Addition u/s 50C of Income Tax Act based on SVA's Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) recently directed a readjudication due to an addition under Section 50C of the Income Tax Act, 1961. This addition was based on the...
![Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-us-50C-of-Income-Tax-Act-based-on-SVAs-Overvaluation-of-Capital-Gain-Sale-Consideration-ITAT-directs-Readjudication-TAXSCAN.jpg "Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]")