![Assessment Order passed u/s 147 of Income Tax Act against Non-Existing Entity is Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Order-Income-Tax-Act-Non-Existing-Entity-Void-Ab-Initio-ITAT.jpg "Assessment Order passed u/s 147 of Income Tax Act against Non-Existing Entity is Void Ab Initio: ITAT [Read Order]")
Assessment Order passed u/s 147 of Income Tax Act against Non-Existing Entity is Void Ab Initio: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that assessment order passed under Section 147 of the Income Tax Act,...
![ITAT quashes Ex-parte Order due to Non-Service of Notice, grants Assessee Opportunity of Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-ITAT-quashes-Ex-parte-Order-Ex-parte-Order-Non-Service-of-Notice-Assessee-Opportunity-of-Hearing-Notice-Assessee-Opportunity-of-Hearing-taxscan.jpg "ITAT quashes Ex-parte Order due to Non-Service of Notice, grants Assessee Opportunity of Hearing [Read Order]")
![Legal Prerequisite for Reopening Beyond 4 years u/s 147 not Fulfilled: ITAT sets aside Reassessment Orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Legal-Prerequisite-ITAT-Reassessment-Orders-taxscan.jpg "Legal Prerequisite for Reopening Beyond 4 years u/s 147 not Fulfilled: ITAT sets aside Reassessment Orders [Read Order]")
![Re-Opening of Assessment Impossible Beyond 4 Years, once Assessment Completed u/s 143(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Re-Opening-of-Assessment-Impossible-Assessment-Completed-ITAT-TAXSCAN.jpg "Re-Opening of Assessment Impossible Beyond 4 Years, once Assessment Completed u/s 143(3): ITAT [Read Order]")
Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, on finding that the re-assessment notice was issued after four years of the relevant AY, quashed...
![Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Re-Assessment-Notice-Re-Assessment-Re-Assessment-Notice-Issued-After-Four-Years-ITAT-quashes-Order-Relevant-AY-After-Four-Years-of-Relevant-AY-ITAT-taxscan.jpg "Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]")
Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that exemption under Section 10(38) of Income Tax Act, 1961 could not be disallowed when a transaction is not...
![Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-Disallowed-Transaction-Penny-Stock-ITAT-Income-Tax-Taxscan.jpg "Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]")
Relief to Milton Plastics: Bombay HC quashes Re Assessment Notice in absence of material for basis for Assumption of Jurisdiction [Read Order]
In a major relief to Milton Plastics Limited, the Bombay High Court quashed the re assessment notice in the absence of material to form the basis for assumption of jurisdiction. By the writ...
![Relief to Milton Plastics: Bombay HC quashes Re Assessment Notice in absence of material for basis for Assumption of Jurisdiction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Milton-Plastics-Re-Assessment-Notice-Assumption-Jurisdiction-TAXSCAN.jpg "Relief to Milton Plastics: Bombay HC quashes Re Assessment Notice in absence of material for basis for Assumption of Jurisdiction [Read Order]")
Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Amritsar Bench, has recently, in an appeal filed before it, while deleting the addition u/s 68 of the income tax act, held that agriculturalist need not...
![Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Agriculturalist-Books-of-Accounts-ITAT-Income-Tax-Act-Income-tax-taxscan.jpg "Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
Reasons recorded for Reopening Reassessment to be Examined on Standalone Basis to Determine validity of Proceedings u/s 147 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently observed that the reasons, as recorded forreopening the reassessment, are to be examined on a standalone basis to determine the...
![Reasons recorded for Reopening Reassessment to be Examined on Standalone Basis to Determine validity of Proceedings u/s 147 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Reopening-Reassessment-Reassessment-Reopening-Standalone-Basis-Proceedings-validity-of-Proceedings-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Reasons recorded for Reopening Reassessment to be Examined on Standalone Basis to Determine validity of Proceedings u/s 147 of Income Tax Act: ITAT [Read Order]")
Re-Assessment u/s 147 of Income Tax Act cannot be invoked to make Protective Addition: ITAT [Read Order]
The Indore Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the Re-Assessment under Section 147 of Income Tax Act, 1961 cannot be invoked to make a Protective Addition. The Assessing...
![Re-Assessment u/s 147 of Income Tax Act cannot be invoked to make Protective Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Re-Assessment-Income-Tax-Act-Income-Tax-Protective-Addition-ITAT-taxscan.jpg "Re-Assessment u/s 147 of Income Tax Act cannot be invoked to make Protective Addition: ITAT [Read Order]")