![Revisional Power excised by CIT(A) based on ‘Cut & Paste’ reasoning Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Revisional-Power-CITA-reasoning-Invalid-ITAT-Taxscan.jpeg "Revisional Power excised by CIT(A) based on ‘Cut & Paste’ reasoning Invalid: ITAT [Read Order]")
Revisional Power excised by CIT(A) based on ‘Cut & Paste’ reasoning Invalid: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that the revisional Power exercised by CIT(A) based on ‘cut & paste’ reasoning is...
![Reopening of Assessment Void if Condition Precedent prescribed u/s 147 not fulfilled: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Reopening-Assessment-Condition-Precedent-ITAT-taxscan.jpeg "Reopening of Assessment Void if Condition Precedent prescribed u/s 147 not fulfilled: ITAT [Read Order]")
![ITAT allows Capital Gain Exemption as Re-investment was made within Prescribed Period [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Capital-Gain-Exemption-Re-investment-Prescribed-Period-Taxscan.jpeg "ITAT allows Capital Gain Exemption as Re-investment was made within Prescribed Period [Read Order]")
![ITAT: Income on sale of shares of company merged has to be regarded as LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Income-on-sale-of-shares-of-company-LTCG-Taxscan.jpg "ITAT: Income on sale of shares of company merged has to be regarded as LTCG [Read Order]")
![Lower Tax Authorities can’t sustain addition without any cogent material on record: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/02/Lower-Tax-Authorities-cogent-material-on-record-Delhi-High-Court-Taxscan-1.jpg "Lower Tax Authorities can’t sustain addition without any cogent material on record: Delhi High Court [Read Judgment]")
LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the long term capital gains (LTCG) to be computed on the basis of guidance value of the property as on date of Sale Agreement, not...
![LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/LTCG-guidance-value-of-property-Sale-Agreement-Sale-Deed-ITAT-Taxscan.jpeg "LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]")
![Delhi High Court deletes addition of alleged Bogus LTCG on Penny Stocks [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/01/Delhi-High-Court-alleged-bogus-LTCG-penny-stocks-Taxscan.jpeg "Delhi High Court deletes addition of alleged Bogus LTCG on Penny Stocks [Read Judgment]")
Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the final order of ITSC
Introduction:- Chapter XIX - A of Income Tax Act, 1961 provides for settlement of cases. Income Tax Settlement Commission was set up in the year 1976 on the recommendation of the Direct Tax...
Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Banglore Bench held that the capital gain deduction is allowable for eight flats received under Joint Venture Agreement. The assessee, Maurice Patrick De...
![Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Capital-Gain-Deduction-Flats-Joint-Venture-Agreement-ITAT-Taxscan.jpg "Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]")
Transfer of Shares by Assessee to its wholly-owned Subsidiary can’t be considered as a Gift and just a Circular Transaction to avoid Tax: Madras High Court [Read Judgment]
The Madras High court said that the Income Tax Appellate Tribunal (ITAT) wrongly held the transfer of shares by the assessee to its wholly-owned subsidiary is to be considered as a Gift. The...
![Transfer of Shares by Assessee to its wholly-owned Subsidiary can’t be considered as a Gift and just a Circular Transaction to avoid Tax: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/Transfer-of-shares-subsidiary-Gift-Circular-transaction-avoid-tax-Madras-High-Court-Taxscan.jpg "Transfer of Shares by Assessee to its wholly-owned Subsidiary can’t be considered as a Gift and just a Circular Transaction to avoid Tax: Madras High Court [Read Judgment]")
ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim [Read Order]
The Income Tax Appellate Tribunal (ITAT) deleted the addition of alleged long-term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim. The assessees being...
![ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-Long-Term-Capital-Gains-Taxscan.jpg "ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim [Read Order]")