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Revision Order

Disallowance u/s 14A of Income Tax Act shall not be made, if Assessee not earned any exempt Income during Financial-year: ITAT quashes Revision order [Read Order]

Aparna. M

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that disallowance under Section 14A of the Income Tax Act, 1961 should not be...

No Revision Order can be passed u/s 263 of Income Tax Act without issuing Show Cause Notice...

Fee for providing Supervisory Service for manufacturing of linear polyethylene under Composite...

ITAT quashes Revision Order u/s 263 against TATA Teleservices on ground of Lack of Jurisdiction...

ITAT Quashes Revision Order u/s 263 against TATA AIG for want of Jurisdiction [Read Order]

Not Enquiring Huge Cash Deposit in Demonetized Currency is Violation of Provisions Dealing in Demonetized Currency: ITAT upholds Revision Order [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the revision order holding that not enquiring huge cash deposits in demonetized currency was a violation of provisions dealing...

Share of Substantial Profit earned from sale of Agricultural Land to NRDA eligible to Tax: ITAT upholds Revision Order [Read Order]

The Income Tax Appellate Tribunal (ITAT) Raipur Bench while upheld the revision order held that the share of substantial profit earned from sale of agricultural land to National Rural...

Additional Income Surrendered before 2nd Amendment to S.115BBE of IT Act chargeable at Ordinary Rate of 30%: ITAT quashes Revision Order [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that additional income surrendered before the 2nd amendment to Section 115BBE of Income Tax Act, 1961 should be chargeable at...

Valuation Report of Equity Shares prepared by Accountant is not Sacrosanct: ITAT upholds Revision Order [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that a valuation report of equity shares prepared by an accountant is not sacrosanct. Hence the bench upheld the...

Limitation Period u/s 263(2) of Income Tax Act begins from date of Original Assessment Order not from Reassessment Order: ITAT quashes Revision Order

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the limitation period under section 263(2) of Income Tax Act, 1961 begins from the date of original assessment order not...

CBS Fee is Not Proved as Revenue in Nature: ITAT Upholds Revision Order Against SBI [Read Order]

In a setback to the State Bank of India (SBI), the Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that since the fee paid for core banking solution (CBS) was not proved as revenue in...

Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that revision of the assessment order passed without enquiry into CFS charges paid to continental warehousing corporation...

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