![Revisionary Order entirely on Presumptions, Conjectures and Surmises is not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revisionary-order-ITAT-taxscan.jpg "Revisionary Order entirely on Presumptions, Conjectures and Surmises is not valid: ITAT [Read Order]")
Revisionary Order entirely on Presumptions, Conjectures and Surmises is not valid: ITAT [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the revisionary order entirely on presumptions, conjectures and...
![No Taxable Capital Gain from JDA: ITAT quashes revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/capital-gain-JDA-ITAT-revision-order-taxscan.jpg "No Taxable Capital Gain from JDA: ITAT quashes revision order [Read Order]")
![No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/violation-Payment-Cash-Purchases-Exceeding-ITAT-Revisional-Order-TAXSCAN.jpeg "No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]")
![ITAT upholds Revisional Order on Ground of LTCG Exemption on STT Paid without Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Revisional-Order-LTCG-STT-taxscan.jpg "ITAT upholds Revisional Order on Ground of LTCG Exemption on STT Paid without Verification [Read Order]")
![Jurisdiction u/s 263 can invoke only on Inadequacy in Enquiry: ITAT sets aside Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Jurisdiction-enquiry-ITAT-Revisional-order-taxscan.jpeg "Jurisdiction u/s 263 can invoke only on Inadequacy in Enquiry: ITAT sets aside Revisional Order [Read Order]")
![Revisional Order u/s 263 cant be Simply on Assumption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Revisional-order-ITAT-taxscan.jpeg "Revisional Order u/s 263 cant be Simply on Assumption: ITAT [Read Order]")
Acceptance of Returned Income by AO after Proper Inquiry: ITAT quashes Revisional Order [Read Order]
The Income Tax Appellate Tribunal Bangalore (ITAT), has quashed the revisional order of Principal Commissioner of Income Tax (PCIT) as acceptance of returned income was done by Assessing Officer (AO)...
![Acceptance of Returned Income by AO after Proper Inquiry: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Returned-Income-AO-ITAT-Revisional-Order-taxscan.jpg "Acceptance of Returned Income by AO after Proper Inquiry: ITAT quashes Revisional Order [Read Order]")
Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai, has recently  while quashing a revisional order in a writ petition filed before it , held that notional rent will not be applicable to unsold...
![Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Notional-Rent-Unsold-Flats-Real-Estate-Business-ITAT-Revisional-Order-taxscan.jpg "Notional Rent not applicable to Unsold Flats of Real Estate Business: ITAT quashes Revisional Order [Read Order]")
Set off of Loss incurred in Share Trading by Directors with the Income of Company not valid: ITAT upholds Revisional Order [Read Order]
While upholding the revisional order, the Income Tax Appellate Tribunal (ITAT) Hyderabad bench has held that the set off of loss incurred in share trading by the directors with the income of the...
![Set off of Loss incurred in Share Trading by Directors with the Income of Company not valid: ITAT upholds Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/share-trading-income-ITAT-Revisional-order-taxscan.jpeg "Set off of Loss incurred in Share Trading by Directors with the Income of Company not valid: ITAT upholds Revisional Order [Read Order]")
No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench has held that no deeming provision can be invoked when the source of the income was explained with the corroborative evidence and set aside...
![No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/No-deeming-provision-source-of-income-corroborative-evidence-ITAT-revisional-order-taxscan.jpg "No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]")
Jurisdiction of PCIT will sustain if AO failed to rightly compute Capital Gain on Sale of Land: ITAT upholds Revisional Order [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT), held that if AO failed to rightly compute capital gain on the sale of the land then the revisional jurisdiction of PCIT will sustain and...
![Jurisdiction of PCIT will sustain if AO failed to rightly compute Capital Gain on Sale of Land: ITAT upholds Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Jurisdiction-PCIT-AO-capital-gain-sale-of-land-ITAT-revisional-order-Taxscan.jpg "Jurisdiction of PCIT will sustain if AO failed to rightly compute Capital Gain on Sale of Land: ITAT upholds Revisional Order [Read Order]")
Mere Suspicions of PCIT cannot be basis for Initiation Proceedings u/s 263: ITAT quashes Revisional Order [Read Order]
The Chandigarh Bench of Income Tax Appellate Tribunal(ITAT) has held that mere suspicions of Principal Commissioners of Income Tax (PCIT) cannot be the basis for initiation proceedings under...
![Mere Suspicions of PCIT cannot be basis for Initiation Proceedings u/s 263: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/PCIT-ITAT-Revisional-Order-taxscan.jpeg "Mere Suspicions of PCIT cannot be basis for Initiation Proceedings u/s 263: ITAT quashes Revisional Order [Read Order]")