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Bombay HC quashes notice for re assessment issued after six years without approval of PCIT [Read Order]

In a recent ruling the Bombay High Court quashed notice for re assessment issued after six years without approval of the Principal Chief Commissioner...

PCIT cannot order conditional approval u/s 80G: ITAT [Read Order]

Withholding Information to establish Genuineness of Transactions: ITAT dismisses Appeal holding...

CIT(E) has No Jurisdiction to impose Unstipulated conditions while granting Registration u/s 80G:...

VAT collected Separately from Customer differ from Charges u/s 40 (a) (iib), Deduction allowable:...

Income from Shareholder's account liable to be Taxed as part of Life Insurance Business: ITAT grants relief to Tata AIA Life Insurance [Read Order]

A Division Bench of the Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Income from shareholders' account liable to be taxed as part of life insurance business, thereby granting relief...

Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the provision for Warranty Expenses is ascertained liability and is allow able as business expenditure. M/s.Trivitron...

Order denying Registration u/s12AA without Verification is not permissible: ITAT [Read Order]

Order denying Registration u/s.12AA without verification is not permissible, the Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT)has held as above. M/s. Society for Economic...

ITAT quashes Assessment passed by the Officer in Lack of Jurisdiction [Read Order]

The Income Tax Appellate Tribunal (ITAT) Kolkata bench quash the assessment order passed by the Assessing Officer on the ground of lack of jurisdiction. Assessee Amiya Gopal Dutta filed income tax...

VAT Payment would not amount to Fee u/s 40(a)(iib) of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench recently in an appeal held that Value Adedd Tax payment would not amount to Fee under section40 (a) (iib) of Income Tax Act 1961. ...

Revision proceedings cannot be initiated when assessee has opted to settle dispute under DTVSV Scheme: ITAT [Read Order]

The Bengaluru Bench of the Income Tax Appellate Tribunal (ITAT), held that Revision proceedings cannot be initiated when assessee has opted to settle dispute under DTVSV scheme. The assessee,Pavan...

Revisionary Powers u/s 263 can be Invoked on Account of Lack of Enquiry by AO: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, has recently in an appeal filed before, held that revisionary powers under section 263 can be invoked on account of lack of enquiry by A.O....

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