![Request of 10-days Adjournment to file SCN Response not Considered by Income Tax Dept: Delhi HC sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Request-Adjournment-SCN-Response-SCN-Income-Tax-Dept-Delhi-High-Court-Assessment-Order-taxscan.jpg "Request of 10-days Adjournment to file SCN Response not Considered by Income Tax Dept: Delhi HC sets aside Assessment Order [Read Order]")
Request of 10-days Adjournment to file SCN Response not Considered by Income Tax Dept: Delhi HC sets aside Assessment Order [Read Order]
The Delhi High Court invalidated the assessment order made by the Income Tax authorities, neglecting the request to postpone the response to the Show...
![Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Loans-Share-Application-Money-Bogus-Absence-Evidence-Identity-Creditworthiness-Creditors-Genuineness-Transaction-ITAT-TAXSCAN.jpg "Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]")
![AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AO-Reassessment-Proceedings-based-on-information-from-Investigation-Wing-ITAT-TAXSCAN.jpg "AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]")
![Deletion of Income Tax Addition on Account of Unexplained Investment due to Absence of Documents and Evidences: ITAT upholds CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Income-Tax-Account-of-Unexplained-Investment-Unexplained-Investment-Documents-and-Evidences-Documents-Evidences-ITAT-CITA-Order-taxscan.jpg "Deletion of Income Tax Addition on Account of Unexplained Investment due to Absence of Documents and Evidences: ITAT upholds CIT(A) Order [Read Order]")
Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain deduction under Section 54 of the Income Tax Act, 1961 could be allowable in the year of handing over of...
![Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Capital-Gain-Deduction-Year-Handing-Possession-Year-Payment-Consideration-ITAT-TAXSCAN.jpg "Capital Gain Deduction u/s 54 Allowable in the Year of Handing Over of Possession, not in the Year of Payment of Consideration: ITAT [Read Order]")
Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction on actual cost is allowable before the imposition of tax on the entire amount received from the sale of land. A...
![Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-on-Actual-cost-imposition-of-Tax-Deduction-amount-received-from-Sale-of-land-ITAT-directs-fresh-Adjudication-Sale-of-land-taxscan.jpg "Deduction on Actual cost allowable before imposition of Tax on entire amount received from Sale of land: ITAT directs fresh Adjudication [Read Order]")
AO's failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]
The Raipur branch of the Income Tax Appellate Tribunal (ITAT) upheld the revision order issued by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263 of Income Tax Act, 1961 on...
![AOs failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-Reopening-Case-initiated-failure-Cash-deposits-AO-taxscan-1.jpg "AOs failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]")
Relief to Ultratech: Assesment Proceeding cannot be Reopened u/s 147 of Income Tax Act by AO due to Mere 'Change in Opinion' [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) has not laid his hands on any new material post original assessment, reopening of assessment is nothing...
![Relief to Ultratech: Assesment Proceeding cannot be Reopened u/s 147 of Income Tax Act by AO due to Mere Change in Opinion [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-Ultratech-Assesment-Proceeding-cannot-be-Reopened-Ultratech-Income-Tax-Income-Tax-taxscan.jpg "Relief to Ultratech: Assesment Proceeding cannot be Reopened u/s 147 of Income Tax Act by AO due to Mere Change in Opinion [Read Order]")
Mere Suspicious Information received from DDIT can't be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that mere suspicious information received from the Deputy Director of Income Tax (DDIT) cannot be a ground to raise an addition under...
![Mere Suspicious Information received from DDIT cant be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Mere-Suspicious-Information-DDIT-Addition-Income-Tax-Act-ITAT-taxscan.jpg "Mere Suspicious Information received from DDIT cant be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]")
Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the AO while completing the assessment under Section 147 of the Income Tax Act, 1961 was beyond the...
![Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Income-Tax-Act-Jurisdiction-ITAT-TAXSCAN.jpg "Penalty Levied by AO u/s 271(1)(c) of Income Tax Act Beyond Jurisdiction is not Sustainable: ITAT [Read Order]")
Addition Made by AO Towards Share Premium u/s 56(2)(viib) of Income Tax Act Already Offered to Tax by Assessee Before Settlement Commission: ITAT upholds Deletion of Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of addition holding that the addition made by the Assessing Officer (AO) towards the share premium under Section...
![Addition Made by AO Towards Share Premium u/s 56(2)(viib) of Income Tax Act Already Offered to Tax by Assessee Before Settlement Commission: ITAT upholds Deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Addition-Made-by-AO-Towards-Share-Premium-Addition-AO-Share-Premium-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Addition Made by AO Towards Share Premium u/s 56(2)(viib) of Income Tax Act Already Offered to Tax by Assessee Before Settlement Commission: ITAT upholds Deletion of Addition [Read Order]")