![AO Fails to Follow Procedures in Issuing Notice u/s 148 of Income Tax Act: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Procedures-Issuing-Notice-Income-Tax-ITAT-TAXSCAN.jpg "AO Fails to Follow Procedures in Issuing Notice u/s 148 of Income Tax Act: ITAT deletes Addition [Read Order]")
AO Fails to Follow Procedures in Issuing Notice u/s 148 of Income Tax Act: ITAT deletes Addition [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition of Rs. 37,35,000/- made by the Assessing Officer (AO) under...
![AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Fails-to-Follow-Procedures-to-Proceed-Reassessment-Proceedings-Proceed-Reassessment-Proceedings-Income-Tax-Act-notices-to-different-PAN-number-PAN-number-ITAT-quashes-notice-taxscan.jpg "AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148 [Read Order]")
![Writ Court does not act either as AO or Appellate Authority to decide Taxability of Receipt: Calcutta HC upholds Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Writ-Court-act-either-as-AO-or-Appellate-Authority-to-decide-Taxability-of-Receipt-Calcutta-HC-upholds-Assessment-Order-TAXSCAN.jpg "Writ Court does not act either as AO or Appellate Authority to decide Taxability of Receipt: Calcutta HC upholds Assessment Order [Read Order]")
![Addition Made Purely on Estimation Basis , No Penalty shall be Leviable u/s 271(1)(c) of Income Tax Act : ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Addition-Made-Purely-Estimation-Basis-No-Penalty-Leviable-Income-Tax-Act-TAXSCANAddition-Made-Purely-Estimation-Basis-No-Penalty-Leviable-Income-Tax-Act-TAXSCAN.jpg "Addition Made Purely on Estimation Basis , No Penalty shall be Leviable u/s 271(1)(c) of Income Tax Act : ITAT Deletes Penalty [Read Order]")
![No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Escapment-Assessee-paid-STCG-and-LTCG-STCG-and-LTCG-LTCG-Gujarat-High-Court-Gujarat-High-Court-quashes-Reassessment-Order-Reassessment-Order-taxscan.jpg "No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]")
Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that the revenue authorities are expected at least to obtain the bank statement before issue of notice under Section 148 of the Income Tax...
![Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Bank-Statement-Obtained-Issuing-Notice-Reassessment-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]")
![ITAT directs to delete Addition made by AO on ground of Wrongful Assessment of Tax Liability [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Directs-Delete-Addition-AO-ground-Wrongful-Assessment-Tax-Liability-TAXSCAN.jpg "ITAT directs to delete Addition made by AO on ground of Wrongful Assessment of Tax Liability [Read Order]")
Mere Estimate of Cost by DVO doesn't Constitute Material to Concealment: ITAT deletes Penalty imposed on Account of Difference of Valuation [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that a mere estimate of cost by the Departmental Valuation Officer (DVO) doesn’t constitute material to concealment and hence...
![Mere Estimate of Cost by DVO doesnt Constitute Material to Concealment: ITAT deletes Penalty imposed on Account of Difference of Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Estimate-of-Cost-by-DVO-doesnt-Constitute-Material-to-Concealment-ITAT-deletes-Penalty-imposed-on-Account-of-Difference-of-Valuation-TAXSCAN.jpg "Mere Estimate of Cost by DVO doesnt Constitute Material to Concealment: ITAT deletes Penalty imposed on Account of Difference of Valuation [Read Order]")
Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that error in the sale of share transaction made by the broker of the assessee hence deleted the addition on client code...
![Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Error-Sale-Share-Transaction-Broker-Assessee-ITAT-Addition-Client-Code-Modification-TAXSCAN.jpg "Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]")
Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the amount given by the co-purchaser for service towards arranging sales is income. The assessee filed the return of income...
![Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Amount-Co-Purchaser-Services-Arranging-Sale-Income-ITAT-Income-Tax-TAXSCAN.jpg "Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]")
No addition can be made on Interest Received from Arbitration Award for Settle Dispute with respect to Contact of Payment: ITAT [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that no addition could be made on interest received from an arbitration award for settlement dispute with respect to contract of...
![No addition can be made on Interest Received from Arbitration Award for Settle Dispute with respect to Contact of Payment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/addition-Interest-Arbitration-Award-Dispute-Contact-Payment-ITAT-taxscan.jpg "No addition can be made on Interest Received from Arbitration Award for Settle Dispute with respect to Contact of Payment: ITAT [Read Order]")
Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) disallowed the addition made on income tax return on the ground that the cash deposits are unexplained and hence set aside the exparte decree...
![Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-Income-Tax-Ground-Unexplained-Cash-Deposits-ITAT-Exparte-TAXSCAN.jpg "Disallowance of Income Tax Addition made on Ground of Unexplained Cash Deposits: ITAT Sets Aside Exparte Order [Read Order]")