Reopening of Assessment after 4 years based on change of opinion without stating any reason is not valid : Bombay HC set aside Re-assessment Order [Read Order]
In a matter of reopening of assessment after 4 years based on a change of opinion without stating any reason, the Bombay High Court (HC) set aside...
![Depreciation u/s 32 cannot be claimed on Assets Shared with Sister Concern under License Agreement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Depreciation-Assets-shared-Sister-Concern-License-Agreement-ITAT-taxscan.jpg "Depreciation u/s 32 cannot be claimed on Assets Shared with Sister Concern under License Agreement: ITAT [Read Order]")
![High-Pitched assessment by AO in non-adversarial tax regime: ITATÂ revises disallowance considering amount and lack of evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/assessment-tax-regime-tax-ITAT-lack-of-evidence-evidence-taxscan.jpg "High-Pitched assessment by AO in non-adversarial tax regime: ITATÂ revises disallowance considering amount and lack of evidence [Read Order]")
![Relief to Vinati Organics: ITAT confirms Treating Sale Tax Subsidy received as Capital Receipt [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Vinati-Organics-ITAT-Sale-Tax-Subsidy-received-Capital-Receipt-TAXSCAN.jpg "Relief to Vinati Organics: ITAT confirms Treating Sale Tax Subsidy received as Capital Receipt [Read Order]")
No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench consisting of Amit Shukla, Judicial Member and Amarjit Singh, Accountant Member held that no income tax addition can be made when expenses are...
![No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/income-tax-addition-WIP-ITAT-TAXSCAN.jpg "No Income Tax Addition When Expenses are Shown under WIP and not added in Trading Account: ITAT [Read Order]")
Production and Sale of Tissue Culture Plants is Business Activity, Not Agricultural: ITAT Upholds Revision [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Hyderabad bench dismissed the appeal filed by the assessee and held that the production and sale of the tissue culture plant is a business activity, not an...
![Production and Sale of Tissue Culture Plants is Business Activity, Not Agricultural: ITAT Upholds Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Production-Sale-Production-and-Sale-Tissue-Culture-Plants-Business-Activity-Agricultural-ITAT-taxscan.jpg "Production and Sale of Tissue Culture Plants is Business Activity, Not Agricultural: ITAT Upholds Revision [Read Order]")
![Income from Lease Charges on Multiplex is Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-tax-Lease-Charges-Multiplex-Business-Income-income-ITAT-taxscan.jpg "Income from Lease Charges on Multiplex is Business Income: ITAT [Read Order]")
![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]")
AO should take Cognizance of Claim made by Assessee on filing of Revised Returns and should proceed in Assessment Stage: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that Assessing Officer (AO) should take cognizance of claim made by assessee on filing of revised returns and should proceed in assessment...
![AO should take Cognizance of Claim made by Assessee on filing of Revised Returns and should proceed in Assessment Stage: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Claim-Revised-Returns-Assessment-ITAT-taxscan.jpg "AO should take Cognizance of Claim made by Assessee on filing of Revised Returns and should proceed in Assessment Stage: ITAT [Read Order]")
![Limitation Period not applicable When There is No Full and True Disclosure: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Madras-HC-taxscan.jpeg "Limitation Period not applicable When There is No Full and True Disclosure: Madras HC [Read Order]")
![Notice u/s 143(2) served on Wrong Address invalidates Assessment Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Notice-Assessment-Order-ITAT-taxscan.jpg "Notice u/s 143(2) served on Wrong Address invalidates Assessment Order: ITAT [Read Order]")