![Assesse cannot Claim Cost of Improvement and Indexation Cost unless provides Evidence to Prove Construction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Assesse-Improvement-Indexation-Cost-Evidence-Prove-Construction-Construction-ITAT-Income-Tax-taxscan.jpg "Assesse cannot Claim Cost of Improvement and Indexation Cost unless provides Evidence to Prove Construction: ITAT [Read Order]")
Assesse cannot Claim Cost of Improvement and Indexation Cost unless provides Evidence to Prove Construction: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that assessees could not claim cost of improvement and indexation...
![Non-Compliance due to Bonafide Reason: ITAT Quashes Penalty Order u/s 271(1)(b) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-Penalty-Order-Income-Tax-Act-income-tax-taxscan.jpg "Non-Compliance due to Bonafide Reason: ITAT Quashes Penalty Order u/s 271(1)(b) of Income Tax Act [Read Order]")
![Gujarat HC quashes prosecution under Income tax Act on Undisclosed Income in absence of a willful attempt to Evade Tax, Penalty or Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Gujarat-HC-Income-tax-Act-Income-evade-tax-Penalty-Interest-TAXSCAN.jpg "Gujarat HC quashes prosecution under Income tax Act on Undisclosed Income in absence of a willful attempt to Evade Tax, Penalty or Interest [Read Order]")
![Imposition of Income Tax Penalty u/s 271(1)(c) instead of 271AAB: Jharkhand HC upholds ITAT Order Deleting Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Imposition-of-Income-Tax-Penalty-Income-Tax-Penalty-Jharkhand-High-Court-ITAT-Penalty-ITAT-Order-Taxscan.jpg "Imposition of Income Tax Penalty u/s 271(1)(c) instead of 271AAB: Jharkhand HC upholds ITAT Order Deleting Penalty [Read Order]")
![Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee himself in absence of Valid Notice: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Appearance-of-staff-Judicial-Custody-Assessee-Notice-Orissa-High-Court-Orissa-HC-taxscan.jpg "Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee himself in absence of Valid Notice: Orissa HC [Read Order]")
Finance Bill 2023 proposes to Change Provisions relating to Search u/s 132 of Income Tax Act [Read Finance Bill]
In the Union Budget 2023-24 through Finance Bill 2023, among other tax measures, the Finance Minister recommended significant though few changes relating to Income Tax Search and Seizure...
S. 56(2)(viia) does Not Attract on Mere Conversion of Share Application Money by Allotting Shares at Subsequent Date without Change of Share Pattern: ITAT [Read Order]
The Visakhapatnam bench of Income Tax Appellate Tribunal (ITAT) held that section 56(2) (viia) did not attract on mere conversion of share application money by allotting shares at subsequent date...
![S. 56(2)(viia) does Not Attract on Mere Conversion of Share Application Money by Allotting Shares at Subsequent Date without Change of Share Pattern: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Mere-Conversion-Share-Application-Money-Allotting-Shares-Share-Pattern-ITAT-Income-Tax-Share-Application-Money-by-Allotting-Shares-taxscan-.jpg "S. 56(2)(viia) does Not Attract on Mere Conversion of Share Application Money by Allotting Shares at Subsequent Date without Change of Share Pattern: ITAT [Read Order]")
Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has recently, in an appeal filed before it, held that the exemption u/s 10(23C) shall not be denied, unless the donation made to trusts, is...
![Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Donation-Trusts-Donation-to-Trusts-Bogus-ITAT-Income-tax-tax-taxscan.jpg "Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]")
Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]
The Allahabad High Court (HC) has held that assessment under section 153 A of the Income Tax Act is invalid in absence of independent application of mind by JCIT before granting Approval. ...
![Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Independent-Application-Assessment-JCIT-ITAT-Allahabad-High-Court-Taxscan.jpg "Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]")
Proceedings u/s 153C of Income Tax Act in absence of any Incriminating Material is Bad in Law: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that Proceedings under Section 153C of the Income Tax Act, 1961 in absence of any incriminating material is bad in law. A search...
![Proceedings u/s 153C of Income Tax Act in absence of any Incriminating Material is Bad in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Proceedings-Incriminating-Material-law-ITAT-Income-Tax-Tax-taxscan.jpg "Proceedings u/s 153C of Income Tax Act in absence of any Incriminating Material is Bad in Law: ITAT [Read Order]")
![Gold Jewellery acquired by Tradition/Customs: ITAT allows Income Tax Concession [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Gold-Gold-Jewellery-Tradition-Customs-ITAT-Income-Tax-Concession-Income-Tax-Tax-Concession-Tax-Concession-taxscan.jpg "Gold Jewellery acquired by Tradition/Customs: ITAT allows Income Tax Concession [Read Order]")
![Amount already offered to Tax by Assessee: ITAT quashes revision order by PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Tax-Assessee-ITAT-PCIT-TAXSCAN.jpeg "Amount already offered to Tax by Assessee: ITAT quashes revision order by PCIT [Read Order]")