Kerala HC Directs to remit 15% total demand as per assessment order within period of one week [Read Order]
In a significant case the Kerala high court directed to remit 15 % of total demand as per the assessment order within a period of one week. In...
![Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Labor-Expenses-Capitalised-Land-value-No-Deduction-claimed-in-P-L-Account-ITAT-taxscan.jpg "Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]")
![Sale Proceeds of Shares Properly Explained Through Documentary Evidence: ITAT Deletes Addition of 39.7 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Sale-Proceeds-of-Shares-Documentary-Evidence-ITAT-Addition-taxscan.webp "Sale Proceeds of Shares Properly Explained Through Documentary Evidence: ITAT Deletes Addition of 39.7 Lakhs [Read Order]")
![Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Sale-of-Shares-Unwarranted-litigation-taxscan.jpg "Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]")
![e-Verification Scheme Update: Income tax Dept issues Instructions to AOs w.r.t. Proceedings u/s 147 of IT Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/03/e-Verification-Scheme-e-Verification-Scheme-Update-Income-tax-Dept-AOs-IT-Act-taxscan.jpg "e-Verification Scheme Update: Income tax Dept issues Instructions to AOs w.r.t. Proceedings u/s 147 of IT Act [Read Notification]")
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 that the source of cash deposit made in corporation...
![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]")
AO blindly relied Investigation Wing report for Reopening Assessment, No application of mind: ITAT quashes Reassessment Order [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has nullified the Reassessment Order, pointing out that the Assessing Officer ( AO ) relied blindly on the Investigation Wing report for...
![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]
The Pune bench of Income Tax Appellate Tribunal ( ITAT ) upheld the reassessment proceedings initiated on information wings with respect to accommodation entry. The assessee Vilson...
![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]
The Kerala High Court dismissed a writ petition as there was reopening of assessment because the threshold income was more than Rs. 50 lakhs which has escaped assessment. The present writ petition...
![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]")