![Source of Cash Deposit made in Corporation Bank is out of Advanced money received from Sale of Property: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Cash-Deposit-Corporation-bank-TAXSCAN-1.jpg "Source of Cash Deposit made in Corporation Bank is out of Advanced money received from Sale of Property: ITAT deletes addition [Read Order]")
Source of Cash Deposit made in Corporation Bank is out of Advanced money received from Sale of Property: ITAT deletes addition [Read Order]
The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai while deleting the addition made by the assessing officer the bench held...
![AO blindly relied Investigation Wing report for Reopening Assessment, No application of mind: ITAT quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/AO-blindly-investigation-Wing-Reopening-Assessment-Application-of-Mind-ITAT-quashes-Reassessment-taxscan.jpg "AO blindly relied Investigation Wing report for Reopening Assessment, No application of mind: ITAT quashes Reassessment Order [Read Order]")
![ITAT quashes reassessment proceedings initiated on basis of incorrect facts recorded by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Reassessment-TAXSCAN.jpg "ITAT quashes reassessment proceedings initiated on basis of incorrect facts recorded by AO [Read Order]")
![ITAT upholds Reassessment Proceedings initiated on information of Investigation Wings with respect to Accommodation Entry [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Pune-Income-Tax-Reassessment-proceedings-Accommodation-entry-taxscan.jpg "ITAT upholds Reassessment Proceedings initiated on information of Investigation Wings with respect to Accommodation Entry [Read Order]")
![Reopening of Assessment as Threshold Income more than Rs. 50 lakhs which has Escaped Assessment: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Kerala-High-Court-Reopening-of-Assessment-Escaped-Assessment-Writ-Petition-Income-Tax-TAXSCAN.jpg "Reopening of Assessment as Threshold Income more than Rs. 50 lakhs which has Escaped Assessment: Kerala HC dismisses Writ Petition [Read Order]")
Demand of Income Tax stays automatically on deposit of 20% of Assessed Tax: Kerala HC directs to decide Stay Petition [Read Order]
The Single bench of Kerala High Court has held that the demand of Income tax stays automatically on a deposit of 20% of assessed tax and directed to decide stay petition. Preetha Ajay, the...
![Demand of Income Tax stays automatically on deposit of 20% of Assessed Tax: Kerala HC directs to decide Stay Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-Kerala-High-Court-Income-Tax-demand-Assessed-Tax-Petition-for-stay-Tax-deposit-taxscan.jpg "Demand of Income Tax stays automatically on deposit of 20% of Assessed Tax: Kerala HC directs to decide Stay Petition [Read Order]")
Capital Gain u/s 47(xiii) can't be attracted on Failure to prove Existence of Firm and its Succession with Company: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that the capital gain under Section 47(xiii) of the Income Tax Act, 1961 cannot be attracted on the failure to prove the existence...
![Capital Gain u/s 47(xiii) cant be attracted on Failure to prove Existence of Firm and its Succession with Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Capital-Gain-Failure-to-prove-Existence-of-Firm-and-its-Succession-with-Company-ITAT-TAXSCAN.jpg "Capital Gain u/s 47(xiii) cant be attracted on Failure to prove Existence of Firm and its Succession with Company: ITAT [Read Order]")
Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and can't give rise to any Valid Collateral Proceeding: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the revisionary order passed under Section 263 of the Income Tax Act, 1961 in the name of a non-existent entity is void ab...
![Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and cant give rise to any Valid Collateral Proceeding: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Revisionary-Order-Collateral-ITAT-ITAT-Kolkata-Collateral-Proceeding-Non-Existent-Entity-Void-Ab-Initio-taxscan.jpg "Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and cant give rise to any Valid Collateral Proceeding: ITAT [Read Order]")
Delhi HC sets aside Reassessment Order under Income Tax Act Triggered without valid Reason [Read Order]
The Delhi High Court set aside reassessment under section 147 of the Income Tax Act, 1961 triggered based on the change in opinion about the nature of the transaction. Shourya Estates Pvt Ltd, the...
![Delhi HC sets aside Reassessment Order under Income Tax Act Triggered without valid Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Delhi-HC-Reassessment-Order-Income-Tax-Act-Triggered-TAXSCAN.jpg "Delhi HC sets aside Reassessment Order under Income Tax Act Triggered without valid Reason [Read Order]")
Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]
The Madras High Court quashed reassessment initiated beyond 4 years on the disclosure of sale of agricultural land in the return of income during scrutiny assessment. The case of the petitioner,...
![Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Sale-of-Agricultural-Land-Scrutiny-Assessment-Return-of-Income-Reassessment-High-Court-taxscan.jpg "Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]")
Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]
The Bombay High Court, has invalidated income tax assessments and subsequent proceedings for the assessment year 2016-2017 against agriculturists and rickshaw drivers due to improper sanction. The...
![Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Agriculturist-Auto-Driver-Bombay-High-Court-Assessment-Order-tax-assessments-improper-sanction-taxscan.jpg "Relief to Agriculturist and Auto Driver: Bombay HC quashes Sanction and Assessment Order given u/s 151(i) instead of 151(ii) of IT Act [Read Order]")
Reopening of Assessment on Allegation of Bogus Purchase based on Statement: Supreme Court Dismisses SLP [Read Order]
In a recent case, the Supreme Court dismissed the Special Leave Petition (SLP) which arose out of the impugned final judgment and order passed by the High Court of Gujarat wherein the Challenge...
