![ITAT restores matter to consider Source of Cash Deposited with Sale Proceeds of LPG Cylinder during Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Restores-Source-Cash-Deposited-Sale-Proceed-LPG-Cylinder-Demonetization-taxscan.jpg "ITAT restores matter to consider Source of Cash Deposited with Sale Proceeds of LPG Cylinder during Demonetization [Read Order]")
ITAT restores matter to consider Source of Cash Deposited with Sale Proceeds of LPG Cylinder during Demonetization [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that in the interest of justice and equity an opportunity should be granted to the...
![No addition can be made on Immovable Property purchased out of Gifts received from Relatives: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/NOADDI1.jpg "No addition can be made on Immovable Property purchased out of Gifts received from Relatives: ITAT directs Re-adjudication [Read Order]")
![Disallowance u/a 40A (3) is not applicable when Payment was by Account Payee Cheque or Account Payee DD: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-not-applicable-Payment-Account-Payee-Cheque-Account-Payee-DD-ITAT-TAXSCAN.jpg "Disallowance u/a 40A (3) is not applicable when Payment was by Account Payee Cheque or Account Payee DD: ITAT [Read Order]")
![Power of Attorney should be verified in Sale of an Inherent Property: ITAT sets aside the Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Power-Attorney-verified-Sale-Inherent-Property-ITAT-Assessment-Order-TAXSCAN.jpg "Power of Attorney should be verified in Sale of an Inherent Property: ITAT sets aside the Assessment Order [Read Order]")
![ITAT sets aside Assessment Order passed without giving Opportunity to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Assessment-passed-without-Opportunity-Assessee-TAXSCAN.jpg "ITAT sets aside Assessment Order passed without giving Opportunity to Assessee [Read Order]")
![AO wrongly invoked Section 50C (1) of Income Tax Act: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/AO-wrongly-invoked-Income-Tax-Act-ITAT-dismisses-Appeal-TAXSCAN.jpg "AO wrongly invoked Section 50C (1) of Income Tax Act: ITAT dismisses Appeal [Read Order]")
Mere Citing of Different PAN by Assessee and Assessing Officer Cannot be Ground for Dismissal of Appeal: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that mere citing of different Permanent Account Number (PAN) by the assessee and assessee officer could not be a ground for dismissal...
![Mere Citing of Different PAN by Assessee and Assessing Officer Cannot be Ground for Dismissal of Appeal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-Citing-Different-PAN-Assessee-Assessing-Officer-Ground-Dismissal-Appeal-ITAT.jpg "Mere Citing of Different PAN by Assessee and Assessing Officer Cannot be Ground for Dismissal of Appeal: ITAT [Read Order]")
Delhi High Court dismisses belated Review Petition against Proceedings u/s 148 of Income Tax Act [Read Order]
A Division Bench of the Delhi High Court recently dismissed a review petition belatedly filed against income tax proceedings under Section 148 of the Income Tax Act, 1961. The petitioner,...
![Delhi High Court dismisses belated Review Petition against Proceedings u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Delhi-High-Court-Review-Petition-Proceedings-Income-Tax-Act-Delhi-High-Court-dismisses-belated-Review-Petition-taxscan.jpg "Delhi High Court dismisses belated Review Petition against Proceedings u/s 148 of Income Tax Act [Read Order]")
No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no penalty should be levied under Section 271(1)(b) of the Income Tax Act, 1961 for failure to sign a consent letter...
![No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-penalty-us-2711b-of-Income-Tax-Act-for-failure-to-sign-on-Consent-Letter-authorized-by-the-Government-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]")
Compliance with Statutory Notice u/s 142(1): ITAT allows Penalty Exemption u/s 272(1) [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently allowed the exemption under Section 272(1) due to compliance with the statutory notice under Section 142 (1) of Income Tax Act...
![Compliance with Statutory Notice u/s 142(1): ITAT allows Penalty Exemption u/s 272(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Compliance-with-Statutory-Notice-Statutory-Notice-ITAT-allows-Penalty-Exemption-ITAT-Penalty-Exemption-Penalty-taxscan.jpg "Compliance with Statutory Notice u/s 142(1): ITAT allows Penalty Exemption u/s 272(1) [Read Order]")
Unsecured FCCDs issued to Holding Companies for Business Operations in India are Debts, not Equity Instruments: ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that unsecured FCCDs issued to holding companies for business operations in India are debts which are not equity...
![Unsecured FCCDs issued to Holding Companies for Business Operations in India are Debts, not Equity Instruments: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Unsecured-FCCDs-FCCD-Holding-Companies-Business-Operations-Holding-Companies-for-Business-Operations-Business-Operations-in-India-Business-Operations-in-India-are-Debts-Debts-ITAT-taxscan.jpg "Unsecured FCCDs issued to Holding Companies for Business Operations in India are Debts, not Equity Instruments: ITAT [Read Order]")