![Exemption under Section 54F cannot be denied on mere delay in completion of construction within 3 years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Exemption-Section-54F-completion-of-construction-ITAT-taxscan.jpeg "Exemption under Section 54F cannot be denied on mere delay in completion of construction within 3 years: ITAT [Read Order]")
Exemption under Section 54F cannot be denied on mere delay in completion of construction within 3 years: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench ruled that the exemption under Section 54F cannot be denied on mere delay in completion of...
![Sec 80IB does not mandate Separate Books of Accounts for claiming Deduction: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/05/Sec-80IB-Books-of-Accounts-Madras-High-Court-Taxscan.jpeg "Sec 80IB does not mandate Separate Books of Accounts for claiming Deduction: Madras High Court [Read Judgment]")
![Income Tax: PCIT can’t expand Limited Scrutiny while invoking Revisional Jurisdiction, says ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/PCIT-Limited-Scrutiny-Revisional-Jurisdiction-ITAT-Taxscan.jpg "Income Tax: PCIT can’t expand Limited Scrutiny while invoking Revisional Jurisdiction, says ITAT [Read Order]")
![PCIT cant assume Jurisdiction u/s 263 when AO has made Sufficient Enquiry: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Assessment.jpg "PCIT cant assume Jurisdiction u/s 263 when AO has made Sufficient Enquiry: ITAT [Read Order]")
ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench directed the matter to AO to examine the afresh rate of gross profit declared on unaccounted turnover. The assessee, M/s Alokik Steels Pvt....
![ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-gross-profit-unaccounted-turnover-Taxscan.jpg "ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]")
Section 56(2)(viib) of the Income Tax Act does not apply to consideration received from Non Residents on account of issuance of Shares: ITAT
The Indore Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 56(2)(viib) of the Income Tax Act does not apply to consideration received from Non Residents on account of issuance...
CBDT notifies Head-quarter of PCIT/CIT (Central), Guwahati retrospectively from January 1, 2020 [Read Notification]
The Central Board of Direct Taxes (CBDT) notified Head-quarter of PCIT/CIT (Central), Guwahati retrospectively from January 1, 2020. The notification seeks to amend notification no. 70/2014 dated...
![CBDT notifies Head-quarter of PCIT/CIT (Central), Guwahati retrospectively from January 1, 2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/03/CBDT-Head-quarter-PCIT-CIT-Central-Taxscan.jpg "CBDT notifies Head-quarter of PCIT/CIT (Central), Guwahati retrospectively from January 1, 2020 [Read Notification]")
PCIT can’t form another view on same issue if AO has already passed order: ITAT rules in favour of Bank of India [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while ruling in favor of Bank of India held that Principal Commissioner of Income Tax (PCIT) cannot form another view on the same issue in which...
![PCIT can’t form another view on same issue if AO has already passed order: ITAT rules in favour of Bank of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/PCIT-AO-order-ITAT-Bank-of-India-Taxscan.jpeg "PCIT can’t form another view on same issue if AO has already passed order: ITAT rules in favour of Bank of India [Read Order]")
PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that PCIT rightly directed the Bank of India’s case to the Transfer Pricing Officer (TPO) under section 92CA for determination of arm’s...
![PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-PCIT-Bank-of-India-Transfer-Pricing-Officer-ALP-Taxscan.jpeg "PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]")
Assessment Order can’t erroneous merely for reason that PCIT doesn’t agree with view taken by AO: ITAT grants relief to Tata Housing
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the Assessment order sought to be revised does not suffer from error merely for the reason that PCIT does not agree with one of the...
Bar on revision of orders prejudicial to revenue, If AO allowed claim after proper examination and due application of mind: ITAT grants relief to Vodafone
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that no proceedings relating to revision of orders prejudicial to revenue under Section 263, if AO took one of the possible views and...
