![Delhi HC upholds PCIT Order overruling AO’s erroneous Land Classification in Income Tax Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Assessment-Order-Delhi-High-Court-Delhi-HC-on-Land-Classification-in-Tax-Assessment-Taxscan.jpg "Delhi HC upholds PCIT Order overruling AO’s erroneous Land Classification in Income Tax Assessment Order [Read Order]")
Delhi HC upholds PCIT Order overruling AO’s erroneous Land Classification in Income Tax Assessment Order [Read Order]
The Delhi High Court in a recently upheld an Order passed by the Principal Commissioner of Income Taxes, Delhi-11 ( PCIT ), ruling against the...
![ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-ITAT-deletes-bonafide-claim-LTCG-Section-269SS-of-the-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-news-ITAT-updates-taxscan.jpg "ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]")
![Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Gujarat-High-Court-Income-Tax-Assessment-order-Indexed-Renovation-Expenses-taxscan.jpg "Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]")
![ITAT Exempts Penny Stock Transactions u/s 10(38) Due to STT Compliance, Denies AO’s Bogus Transaction Allegations [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Cuttack-Income-Tax-Appellate-Tribunal-Securities-Transaction-Tax-STT-STT-Compliance-ITAT-Exempts-Penny-Stock-Transactions-taxscan.jpg "ITAT Exempts Penny Stock Transactions u/s 10(38) Due to STT Compliance, Denies AO’s Bogus Transaction Allegations [Read Order]")
![ITAT Rejects Allegation of Fabricated LTCG, Validates Sale Price of Unquoted Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Fabricated-LTCG-Sale-Price-Unquoted-Shares-taxscan.jpg "ITAT Rejects Allegation of Fabricated LTCG, Validates Sale Price of Unquoted Shares [Read Order]")
Meeting requirements of section 148 of Income Tax Act eliminates need for Separate Notice u/s 143: ITAT [Read Order]
Income Tax Appellate Tribunal ( ITAT ) in a recent case held that meeting statutory requirements of Section 148 of Income Tax Act 1961 ( ITA ) eliminates the need for separate notice under section...
![Meeting requirements of section 148 of Income Tax Act eliminates need for Separate Notice u/s 143: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-Income-Tax-Appellate-Tribunal-ITA-section-148-of-Income-Tax-Act-Income-Tax-Act-ITAT-news-Income-tax-news-taxscan.jpg "Meeting requirements of section 148 of Income Tax Act eliminates need for Separate Notice u/s 143: ITAT [Read Order]")
Income Tax Dept fails to Contradict Taxpayer’s Evidence for LTCG from Share Sale: Rajasthan HC Upholds ITAT Order [Read Order]
In a recent ruling, the Rajasthan High Court upheld the order of the Income Tax Appellate Tribunal ( ITAT ), observing that the income tax department failed to provide any contradictory evidence...
![Income Tax Dept fails to Contradict Taxpayer’s Evidence for LTCG from Share Sale: Rajasthan HC Upholds ITAT Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/income-tax-LTCG-from-Share-Sale-Income-Tax-Dept-ITAT-Order-Rajasthan-HC-Upholds-ITAT-Order-income-tax-news-itat-news-rajasthan-hc-news-share-sale-tax-news-taxscan.jpg "Income Tax Dept fails to Contradict Taxpayer’s Evidence for LTCG from Share Sale: Rajasthan HC Upholds ITAT Order [Read Order]")
![LTCG on Sale of Shares by Mauritius Company Not Liable to Be Taxed in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Itat-itat-news-Sale-of-Shares-Mauritius-Company-Not-Liable-tax-news-itat-on-ltcg-itat-about-ltcg-ltcg-about-Mauritius-Company-ltcg-news-taxscan.jpg "LTCG on Sale of Shares by Mauritius Company Not Liable to Be Taxed in India: ITAT [Read Order]")
ITAT allows Deduction u/s 54 of Income Tax Act for Investment made in New Residential Property [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the claim for tax deduction under Section 54 of the Income Tax Act, 1961, for an investment in a new residential property. The...
![ITAT allows Deduction u/s 54 of Income Tax Act for Investment made in New Residential Property [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Act-Section-54-Income-Tax-Act-New-Residential-Property-taxscan.jpg "ITAT allows Deduction u/s 54 of Income Tax Act for Investment made in New Residential Property [Read Order]")
Failure to make Proper Enquiry on Bogus Claim of LTCG by Sale of Shares: Calcutta HC upholds Revision Order [Read Order]
In a recent case, the Calcutta High Court has upheld the revision order passed by the Principal Commissioner of Income Tax ( PCIT ) under Section 263 of the Income Tax Act, 1961. The Court found that...
Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed Rs. 40 lakhs addition while calculating Long-Term Capital Gains ( LTCG ) from the sale of property as the taxpayer filed copies...
![Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-in-2024-ITAT-ruling-on-LTCG-addition-Long-term-capital-gain-TAXSCAN.jpg "Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]")