![Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Share-Purchase-Transaction-taxscan.jpg "Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]")
Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal due to the failure to prove the genuineness of the share purchase...
![Explanation 3 to Section 147 of Income Tax Act cannot be extended to make New Addition beyond Initial Reopening Assessment Reasons: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Explanation-3-to-Section-147-of-Income-Tax-Act-New-Addition-Initial-Reopening-Assessment-Reasons-ITAT-quashes-taxscan.jpg "Explanation 3 to Section 147 of Income Tax Act cannot be extended to make New Addition beyond Initial Reopening Assessment Reasons: ITAT quashes Order [Read Order]")
![No Confirmation of Income Tax Addition based on Photocopy of Alleged Agreement to Sell: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Delhi-High-Court-Income-Tax-Income-Tax-Addition-Photocopy-of-Alleged-Agreement-TAXSCAN.jpg "No Confirmation of Income Tax Addition based on Photocopy of Alleged Agreement to Sell: Delhi HC [Read Order]")
![Genuinity with respect to income earned from other source and interest expenses clearly established: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Genuinity-income-income-earned-from-other-source-interest-expenses-taxscan.jpg "Genuinity with respect to income earned from other source and interest expenses clearly established: ITAT deletes Penalty [Read Order]")
![Transfer of Development Rights between two Partnership Firms not Taxable under Capital Gains from Partners: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Capital-Gains-Income-Tax-TAXSCAN.jpg "Transfer of Development Rights between two Partnership Firms not Taxable under Capital Gains from Partners: ITAT [Read Order]")
Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) while upheld the notice issued under Section 148 of the Income Tax Act,1961 observed that liability of directors continues even though...
![Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Liability-of-Directors-TAXSCAN.jpg "Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]")
ITAT quashes Ex-Parte Assessment Order passed without considering Valuation Report u/s 12A of Income Tax Act [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the ex parte assessment order passed without considering the Valuation report under Section 12A of the Income Tax Act, 1961. ...
![ITAT quashes Ex-Parte Assessment Order passed without considering Valuation Report u/s 12A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Hyderabad-Income-tax-Income-tax-news-Assessment-Order-taxscan.jpg "ITAT quashes Ex-Parte Assessment Order passed without considering Valuation Report u/s 12A of Income Tax Act [Read Order]")
No Compliance of S. 148A required prior to Issuance of Reassessment Notices u/s 148 of Income Tax Act: Kerala HC [Read Order]
The Kerala High Court has ruled that the requirements outlined in Section 148A of the Income Tax Act, 1961, do not need to be fulfilled prior to issuing notices under Section 148 of the Income Tax...
![No Compliance of S. 148A required prior to Issuance of Reassessment Notices u/s 148 of Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Compliance-Reassessment-Notices-Income-Tax-Act-Kerala-HC-taxscan.jpg "No Compliance of S. 148A required prior to Issuance of Reassessment Notices u/s 148 of Income Tax Act: Kerala HC [Read Order]")
AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has invalidated a reassessment order as the Assessing Officer's sole reliance on DDIT report for the alleged 15 crore income escapement...
![AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Delhi-ITAT-Income-Tax-DDIT-Deputy-Director-of-Income-Tax-Income-escapement-assessment-Taxscan.jpg "AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]")
Source for cash deposit in Saving Bank Account is made out of Sale Proceeds of Flat: ITAT deletes Addition
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the addition made by the assessing officer held that source for cash deposit in savings bank account is made out of sale...
Challenge on Reopening of Income Tax Assessment Order: Kerala HC sets aside Assessment Order [Read Order]
The division bench of the Kerala High Court set aside the reopening assessment made under the Income Tax Act, of 1961. The challenge was on the validity of Reopening of Income Tax Assessment and it...
![Challenge on Reopening of Income Tax Assessment Order: Kerala HC sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Kerala-High-Court-Income-Tax-Income-Tax-Assessment-Order-Assessment-Order-TAXSCAN.jpg "Challenge on Reopening of Income Tax Assessment Order: Kerala HC sets aside Assessment Order [Read Order]")
Reassessment Proceedings under Income Tax Act without Application of Mind: Delhi HC upholds order of ITAT [Read Order]
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal [ “ITAT” ] since the reassessment proceedings under the Income Tax Act, 1961 were without application of mind. Pioneer...
![Reassessment Proceedings under Income Tax Act without Application of Mind: Delhi HC upholds order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Income-Tax-Delhi-High-Court-Delhi-high-court-on-ITAT-TAXSCAN.jpg "Reassessment Proceedings under Income Tax Act without Application of Mind: Delhi HC upholds order of ITAT [Read Order]")