![S10AA Deduction Benefit cannot be Denied Merely on Non-Receipt of Convertible Foreign Exchange on Deemed Exports: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Deduction-Deduction-Benefit-Denied-Merely-Non-Receipt-of-Convertible-Foreign-Exchange-Convertible-Foreign-Exchange-Convertible-Foreign-Exchange-on-Deemed-Exports-Deemed-Exports-taxscan.jpg "S10AA Deduction Benefit cannot be Denied Merely on Non-Receipt of Convertible Foreign Exchange on Deemed Exports: ITAT [Read Order]")
S10AA Deduction Benefit cannot be Denied Merely on Non-Receipt of Convertible Foreign Exchange on Deemed Exports: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that section S10AA deduction benefit...
![Relief to Hi-Lite Builders: ITAT deletes Retrospective Disallowance by AO u/s 40(a)(ia) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Relief-to-Hi-Lite-Builders-Hi-Lite-Builders-ITAT-ITAT-deletes-Retrospective-Disallowance-Retrospective-Disallowance-Disallowance-Retrospective-Disallowance-by-AO-taxscan-.jpg "Relief to Hi-Lite Builders: ITAT deletes Retrospective Disallowance by AO u/s 40(a)(ia) [Read Order]")
![Revisional Power u/s 263 of Income Tax Act cannot be used to Reopen Assessment: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Revisional-Power-Income-Tax-Act-Reopen-Assessment-ITAT-Assessment-appeal-taxscan.jpg "Revisional Power u/s 263 of Income Tax Act cannot be used to Reopen Assessment: ITAT allows Appeal [Read Order]")
![Payment to Minors and Unregistered Firms by Co-operative Bank violative of S. 194A: ITAT Upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Payment-to-Minors-Payment-Unregistered-Firms-Minors-Co-operative-Bank-ITAT-Disallowance-taxscan.jpg "Payment to Minors and Unregistered Firms by Co-operative Bank violative of S. 194A: ITAT Upholds Disallowance [Read Order]")
Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, with regard to a search conducted within 6 preceding years of the relevant AY, upheld the Income Tax...
![Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Negligent-Attitude-Income-Tax-proceedings-ITAT-Assessee-Taxscan.jpg "Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]")
Statement Recorded u/s 133A of the Act without Considering Documents and Evidence produced: ITAT directs de novo Adjudication [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed for de novo adjudication finding the statement recorder under Section 133A of the Income Tax Act 1961 without considering the...
![Statement Recorded u/s 133A of the Act without Considering Documents and Evidence produced: ITAT directs de novo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Statement-Recorded-Act-Considering-Documents-Evidence-ITAT-Adjudication-TAXSCAN.jpg "Statement Recorded u/s 133A of the Act without Considering Documents and Evidence produced: ITAT directs de novo Adjudication [Read Order]")
Addition u/s 68 is Beyond Jurisdiction of Assessing Officer as Turnover already reflected in books of the Assessee: ITAT quashes addition [Read Order]
The Amritsar bench of Income Tax Appellate Tribunal (ITAT), while quashing the addition made by the lower authorities held that addition under section 68 of Income Tax Act, 1961 is beyond...
![Addition u/s 68 is Beyond Jurisdiction of Assessing Officer as Turnover already reflected in books of the Assessee: ITAT quashes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Jurisdiction-Assessing-Officer-Turnover-books-of-the-Assessee-Jurisdiction-of-Assessing-Officer-ITAT-taxscan.jpeg "Addition u/s 68 is Beyond Jurisdiction of Assessing Officer as Turnover already reflected in books of the Assessee: ITAT quashes addition [Read Order]")
Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]
The Bangalore bench of income tax appellate tribunal has recently held that a firm is not taxable for interest on borrowed capital paid to partners when the same is already taxed from partners under...
![Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Taxable-Interest-Capital-paid-Taxed-ITAT-TAXSCAN.jpg "Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]")
SOP should be followed in Faceless Assessment: Calcutta HC quashes Assessment Order holding as Classic Example as to how Assessment should not be Made
The Calcutta High Court quashed an assessment order holding as classic example as to how assessment should not be made and observed that Standard Operating Procedure (SOP) should be followed in...
Bombay HC quashes Notice issued u/s 148 Without jurisdiction against Lakshdeep Investments & Finance [Read Order]
In a significant case of Lakshdeep Investments & Finance Pvt. Ltd., the Bombay High Court (HC) has quashed the reassessment notice under section 148 of the Income Tax Act, 1961 which was issued...
![Bombay HC quashes Notice issued u/s 148 Without jurisdiction against Lakshdeep Investments & Finance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Bombay-HC-Noticet-jurisdiction-Lakshdweep-Investments-Finance-TAXSCAN.jpg "Bombay HC quashes Notice issued u/s 148 Without jurisdiction against Lakshdeep Investments & Finance [Read Order]")
![ITAT Quashes Re-Assessment Order against BSNL [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITAT-Re-Assessment-BSNL-Re-Assessment-Order-Income-Tax-Tax-Taxscan.jpg "ITAT Quashes Re-Assessment Order against BSNL [Read Order]")