Read all Latest Updates on and about section 143(3) of the Income Tax Act

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section 143(3) of the...

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...

Assessment Order passed u/s 143 (3) against Dead Person without Issuing Notice to Legal Heirs is...

Failure of AO to Examine Purchase of Land by Assessee as per Section 56(2)(vii)(b) is Prejudicial to...

Proceeds from Licence of BOT Projects taxable as Business Income and not Rental Income: ITAT [Read...

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...

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...

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 cannot be denied merely on non-receipt of convertible...

Relief to Hi-Lite Builders: ITAT deletes Retrospective Disallowance by AO u/s 40(a)(ia) [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted the retrospective application of disallowance under Section 40(a)(ia) of the Income Tax Act, 1961 by the Assessing...

Revisional Jurisdiction cannot be Invoked if AO Adopted One of Two Plausible Views: ITAT upholds Assessment Order treating Unsold Flats as Closing Stock

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, while upholding an assessment order treating unsold flats as closing stock, held that revisional...

Revisional Power u/s 263 of Income Tax Act cannot be used to Reopen Assessment: ITAT allows Appeal [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that revisional power under Section 263 of the Income Tax Act, 1961 could not be used to reopen the...

Payment to Minors and Unregistered Firms by Co-operative Bank violative of S. 194A: ITAT Upholds Disallowance [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, while upholding the disallowance, held that payment to minors and unregistered firms by co-operative...

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