![AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-ITAT-Income-tax-act-Tax-news-Taxscan.jpg "AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]")
AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 4.71 crore after observing the...
![Taxpayer Challenges AOs Disallowance which is not in terms with Section 115JB of Income Tax Act: ITAT restores matter back for Factual Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Income-Tax-Taxpayer-TAXSCAN.jpg "Taxpayer Challenges AOs Disallowance which is not in terms with Section 115JB of Income Tax Act: ITAT restores matter back for Factual Verification [Read Order]")
![ITAT directs AO to re-compute book profit u/s 115JB of Income Tax Act by giving opportunity of being heard to assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Exemption-Income-Tax-Act-Income-Tax-activities-of-Trust-Trust-Nature-of-Trade-Trade-Commerce-taxscan-Business-ITAT.jpg "ITAT directs AO to re-compute book profit u/s 115JB of Income Tax Act by giving opportunity of being heard to assessee [Read Order]")
![Assessee entitled to Claim Credit for MAT under VSV Scheme for year under consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-VSV-scheme-Vivad-se-Vishwas-scheme-taxscan.jpg "Assessee entitled to Claim Credit for MAT under VSV Scheme for year under consideration: ITAT [Read Order]")
![Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Investment-Gold-Investment-in-Gold-Foreign-Companies-ITAT-CITA-taxscan.jpg "Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]")
![ITAT Annual Digest [Part-23]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ANNUAL-DIGEST-PART-23-ITAT-ANNUAL-DIGEST-ITAT-ANNUAL-DIGEST-PART-23-taxscan.jpg "ITAT Annual Digest [Part-23]")
Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has set aside the revision order as inadvertent mistake was due to the typographical error in calculating the total income. The issue...
![Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Inadvertent-Mistake-Mistake-Typographical-Error-Total-Income-Income-ITAT-Revision-Order-ITAT-Set-Aside-Revision-Order-taxscan.jpg "Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]")
Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that the notice for penalty proceedings was issued by the Assessing Officer without specifying the charge of the offense committed by the...
![Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Notice-of-Penalty-Specifying-Charge-of-Offense-committed-by-Assessee-ITAT-deletes-Penalty-ITAT-Income-Tax-Act-Income-Tax-TAXSCAN.jpg "Notice of Penalty issued without Specifying Charge of Offense committed by Assessee: ITAT deletes Penalty [Read Order]")
No disallowance can be made u/s 14A of the IT Act for Computing Book Profit u/s 115JB of Act: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no disallowance could be made under Section 14A of the Income Tax Act, 1961 for computing book profit under...
![No disallowance can be made u/s 14A of the IT Act for Computing Book Profit u/s 115JB of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/disallowance-uS-14A-IT-Act-for-Computing-Book-Profit-uS-115JB-Act-ITAT-TAXSCAN.jpg "No disallowance can be made u/s 14A of the IT Act for Computing Book Profit u/s 115JB of Act: ITAT [Read Order]")
![Provisions of S. 115JB Income Tax Act not applicable to a Sick Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/ITAT-Delhi-Taxscan.jpg "Provisions of S. 115JB Income Tax Act not applicable to a Sick Company: ITAT [Read Order]")
AO cannot alter the profit declared in the Audited Account prepared under Companies Act for the purpose of sec. 115JB: Bombay HC [Read Judgment]
In CIT v. M/s. Century Textiles and Industries Ltd., the division bench of the Bombay High Court held that the AO cannot alter the profit declared in the audited account prepared under the Companies...
![AO cannot alter the profit declared in the Audited Account prepared under Companies Act for the purpose of sec. 115JB: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/09/Assessing-officer-Tax-Scan.jpg "AO cannot alter the profit declared in the Audited Account prepared under Companies Act for the purpose of sec. 115JB: Bombay HC [Read Judgment]")