![Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Condonation-of-Delay-Condonation-of-Delay-due-to-Covid-ITAT-deletes-Penalty-ITAT-Penalty-Taxscan.jpg "Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]")
Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]
The Surat Bench of Income Tax Appellate Tribunal ( ITAT) held that the penalty under Section 271(1)(b) of the Income Tax Act could not be levied...
![AO Justified in Rectification of Apparent Error Instead of Substituting the Same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/AO-Justified-in-Rectification-Rectification-of-Apparent-Error-Rectification-Apparent-Error-ITAT-taxscan.jpg "AO Justified in Rectification of Apparent Error Instead of Substituting the Same: ITAT [Read Order]")
![Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Section-562vii-not-Applicable-to-Individual-Receiving-Sum-from-HUF-as-its-Member-ITAT-TAXSCAN.jpg "Section 56(2)(vii) not Applicable to Individual Receiving Sum from HUF as its Member: ITAT [Read Order]")
![No Addition can made on Account of Income received from sale of Scrap/Waste: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Account-of-Income-received-Income-received-sale-of-Scrap-Sale-of-Waste-ITAT-taxscan.jpg "No Addition can made on Account of Income received from sale of Scrap/Waste: ITAT [Read Order]")
![ITAT deletes Penalty u/s 271B of Income Tax Act for Bonafide Belief on Treating Gross Commission as Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Penalty-us-271B-of-Income-Tax-Act-Treating-Gross-Commission-Turnover-TAXSCAN.jpg "ITAT deletes Penalty u/s 271B of Income Tax Act for Bonafide Belief on Treating Gross Commission as Turnover [Read Order]")
No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]
The Mumbai Bench of Income Tax Appellate tribunal (ITAT) has set aside the reassessment proceedings initiated after the expiry of 4 years as there was no failure to provide material facts. The...
![No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-failure-to-provide-Material-Facts-Material-Facts-ITAT-sets-aside-Reassessment-Proceedings-Reassessment-Proceedings-ITAT-Income-Tax-Reassessment-taxscan.jpg "No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]")
Assessment Order passed u/s 143 (3) against Dead Person without Issuing Notice to Legal Heirs is Void: Madras High Court [Read Order]
The Madras High Court held that the assessment order passed under section 143(3) of the Income Tax Act, 1961 against a dead person without issuing a notice to legal heirs is void. Prema...
![Assessment Order passed u/s 143 (3) against Dead Person without Issuing Notice to Legal Heirs is Void: Madras High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Madras-High-Court-Assessment-Order-passed-Dead-Person-without-Issuing-Notice-Dead-Person-Notice-Notice-to-Legal-Heirs-is-Void-Legal-Heirs-taxscan.jpg "Assessment Order passed u/s 143 (3) against Dead Person without Issuing Notice to Legal Heirs is Void: Madras High Court [Read Order]")
Failure of AO to Examine Purchase of Land by Assessee as per Section 56(2)(vii)(b) is Prejudicial to Revenue's Interest: ITAT upholds Revision order u/s 263
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, while upholding the revision order under Section 263, held that failure of AO to examine...
Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the proceeds from licence of Build-Operate-Transfer (BOT) Projects are taxable as business income and not rental...
![Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Proceeds-from-Licence-of-BOT-Projects-Proceeds-Licence-of-BOT-Projects-Licence-BOT-Projects-Business-Income-Rental-Income-ITAT-taxscan.jpg "Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read Order]")
![No Addition u/s 40A (3) without Doubt of Genuineness of Payment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Genuineness-of-Payment-Addition-Doubt-of-Genuineness-of-Payment-ITAT-Taxscan.jpg "No Addition u/s 40A (3) without Doubt of Genuineness of Payment: ITAT [Read Order]")
Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, while upholding the addition of suo motu offering for tax, held that sale proceeds of land introduced...
![Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sale-Proceeds-of-Land-Land-Share-Capital-AOP-taxable-ITAT-Suo-Motu-Offering-for-Tax-Suo-Motu-Tax-taxscan-.jpg "Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]")
No Tax on Payments in Lieu of 'Business Profits', in the Absence of PE in India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that no tax can be levied on payments in lieu of ‘business profits’, in the absence of a PE in...
![No Tax on Payments in Lieu of Business Profits, in the Absence of PE in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/No-Tax-on-Payments-Tax-Payments-Business-Profits-Absence-of-PE-in-India-PE-in-India-ITAT-Income-Tax-taxscan.jpg "No Tax on Payments in Lieu of Business Profits, in the Absence of PE in India: ITAT [Read Order]")