![No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Section-147-of-Income-Tax-Act-taxscan.jpg "No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]")
No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the reassessment under section 147 of Income Tax Act,1961, stating that no...
![ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Jet-Airways-Judgment-taxscan.jpg "ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read Order]")
![ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Invalidates-PCITs-Principal-Commissioner-of-Income-Tax-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]")
![ITAT Upholds CIT(A) Decision Deleting Addition for Alleged Bogus Purchases, Citing Genuine Sales and Statement Retraction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Ahmedabad-income-tax-Bogus-Purchases-Citing-Genuine-Sales-Taxscan.jpg "ITAT Upholds CIT(A) Decision Deleting Addition for Alleged Bogus Purchases, Citing Genuine Sales and Statement Retraction [Read Order]")
![Reassessment Based on Insight Portal Information must be u/s 147/148, Not Section 153C: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-HC-Delhi-High-Court-Reassessment-Based-on-Insight-Portal-Reassessment-Insight-Portal-Information-taxscan.jpg "Reassessment Based on Insight Portal Information must be u/s 147/148, Not Section 153C: Delhi HC [Read Order]")
Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the income tax matter as the source of creation of fixed deposits ( FD ) needed verification of land...
![Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Delhi-Income-Tax-Interest-on-Compensation-taxscan.jpg "Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]")
Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]
In a recent ruling, the Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that reassessment under section 147 of the Income Tax Act was valid on reopening already closed assessment. The...
![Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Section-147-153C-of-Income-Tax-Applied-Interchangeably-ITAT-Reassessment-Bogus-Purchase-Matter-taxscan.jpg "Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]")
ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) has set aside the order of the Commissioner of Income Tax -Appeals [CIT-A] and remanded the case back to the CIT for fresh adjudication,...
![ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-unexplained-income-case-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]")
Incomplete Disclosure of Seized Material and Statements: Karnataka HC quashes Income Tax Assessment Order u/s 147 [Read Order]
In a recent ruling, the Karnataka High Court quashed the assessment order under Section 147 of the Income Tax Act, 1961, due to incomplete disclosure of seized materials and statements by the...
![Incomplete Disclosure of Seized Material and Statements: Karnataka HC quashes Income Tax Assessment Order u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Karnataka-HC-Karnataka-High-Court-Karnataka-HC-quashes-Income-Tax-Income-Tax-Assessment-Order-Income-Tax-Assessment-taxscan.jpg "Incomplete Disclosure of Seized Material and Statements: Karnataka HC quashes Income Tax Assessment Order u/s 147 [Read Order]")
Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]
The Delhi High Court recently remitted matter back to the file of the Income Tax Appellate Tribunal (ITAT) observing that a jurisdictional Assessing Officer (AO) may initiate reassessment...
![Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Revenue-Delhi-HC-Affirms-basis-of-Third-Party-Third-Party-search-Findings-AOs-Reassessment-search-Findings-Affirms-AOs-Reassessment-taxscan.jpg "Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]")
![ITAT dismisses Revenue Appeal on Ground of CBDT Circular on Low Tax Effect [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-low-tax-effect-TAXSCAN.jpg "ITAT dismisses Revenue Appeal on Ground of CBDT Circular on Low Tax Effect [Read Order]")
ITAT deletes Disallowance of Trading Loss on Alleged Penny Stock Shares Due to Insufficient Evidence of Price Manipulation [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted the disallowance of trading losses claimed by the assessee on alleged penny stock shares, citing insufficient evidence of price...
![ITAT deletes Disallowance of Trading Loss on Alleged Penny Stock Shares Due to Insufficient Evidence of Price Manipulation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Disallowance-Trading-Loss-Penny-Stock-Shares-Insufficient-Evidence-Price-Manipulation-taxscan.jpg "ITAT deletes Disallowance of Trading Loss on Alleged Penny Stock Shares Due to Insufficient Evidence of Price Manipulation [Read Order]")