![Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCITs unnecessary revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-ITAT-Chennai-PCIT-Revision-TAXSCAN.jpg "Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCITs unnecessary revision [Read Order]")
Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCIT's unnecessary revision [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax for not recognizing that the assessee...
![No Undue Delay in Submitting Reply to SCN: Himachal Pradesh HC sets aside u/s 143 (3) of Income Tax Act and remits matter back to PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Himachal-Pradesh-High-Court-Principal-Commissioner-of-Income-Tax-SCN-Delay-in-Reply-to-SCN-taxscan-2.jpg "No Undue Delay in Submitting Reply to SCN: Himachal Pradesh HC sets aside u/s 143 (3) of Income Tax Act and remits matter back to PCIT [Read Order]")
![PCIT Directs AO to grant 80P Deduction without Proper Claim: ITAT nullifies Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/PCIT-Directs-AO-80P-Deduction-Proper-Claim-ITAT-Revision-Order-TAXSCAN.jpg "PCIT Directs AO to grant 80P Deduction without Proper Claim: ITAT nullifies Revision Order [Read Order]")
![Assessment completed routine and mechanical manner without due diligence and due application of mind: ITAT Upholds Revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Upholds-Revision-order-Income-Tax-Appellate-Tribunal-ITAT-mumbai-TAXSCAN.jpg "Assessment completed routine and mechanical manner without due diligence and due application of mind: ITAT Upholds Revision order [Read Order]")
PCIT has no Jurisdiction When AO Enquired Issuance of High Premium Shares: Delhi HC Uphold order of ITAT [Read Order]
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal (ITAT) and held that the Principal Commissioner of Income Tax (PCIT) has no jurisdiction when the Assessing Officer (AO)...
![PCIT has no Jurisdiction When AO Enquired Issuance of High Premium Shares: Delhi HC Uphold order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/PCIT-Jurisdiction-AO-High-Premium-Shares-Delhi-HC-ITAT-Delhi-HC-Uphold-order-of-ITAT-taxscan.jpg "PCIT has no Jurisdiction When AO Enquired Issuance of High Premium Shares: Delhi HC Uphold order of ITAT [Read Order]")
![ITAT Annual Digest [Part 51]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ANNUAL-DIGEST-PART-51-ITAT-ITAT-ANNUAL-DIGEST-taxscan.jpg "ITAT Annual Digest [Part 51]")
Direction of PCIT to Fresh Assessment without Enquiry is Invalid: Supreme Court Dismisses SLP [Read Order]
The Supreme Court dismissed the Special Leave Petition (SLP) and observed that the direction of the Principal Commissioner of Income Tax(PCIT) to fresh assessment without enquiry is invalid. The...
ITAT quashes Disallowance of Deduction u/s 54 merely based on Non-Deposit of Capital Gains in Capital Gain Account Scheme [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) quashed disallowance of deduction under Section 54 of the Income Tax Act, 1961 merely based on non-deposit of capital gains in capital gain...
![ITAT quashes Disallowance of Deduction u/s 54 merely based on Non-Deposit of Capital Gains in Capital Gain Account Scheme [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Deduction-Capital-Gain-Capital-Gain-Account-Scheme-Non-Deposit-of-Capital-Gain-ITAT-Delhi-taxscan.jpg "ITAT quashes Disallowance of Deduction u/s 54 merely based on Non-Deposit of Capital Gains in Capital Gain Account Scheme [Read Order]")
PCIT u/s 119(2) (b) has no power to consider Merits of Claim while Condoning Delay in Filing Return: Kerala HC dismisses Writ Petition [Read Order]
The Kerala High Court while dismissing the writ petition has held that Principal Commissioner of Income Tax (PCIT) under section 119(2) (b) of the Income Tax Act, 1961 has no power to consider merits...
![PCIT u/s 119(2) (b) has no power to consider Merits of Claim while Condoning Delay in Filing Return: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/PCIT-Condoning-Delay-in-Filing-Return-Kerala-High-Court-Writ-Petition-Merits-of-Claim-Condoning-Delay-.jpg "PCIT u/s 119(2) (b) has no power to consider Merits of Claim while Condoning Delay in Filing Return: Kerala HC dismisses Writ Petition [Read Order]")
Unsold flats categorized as Stock in Trade should be assessed as 'Business Income,' not 'Income from House Property: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while quashing the revision order, held that unsold flats categorized as stock in trade should be assessed as business income, not income from...
![Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Unsold-flats-Stock-in-Trade-should-be-assessed-as-Business-Income-Income-House-Property-ITAT-Revision-Order-TAXSCAN.jpg "Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]")
![ITAT Deletes Addition against Volkswagen on Account of Government Grants [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Deletes-Addition-Volkswagen-Account-of-Government-Grants-taxscan.jpg "ITAT Deletes Addition against Volkswagen on Account of Government Grants [Read Order]")