![Notice issued pointing income Escapement in the form of Stock/Bills of Entry for Import on deactivated PAN is not valid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Notice-income-Escapement-Stock-Bills-of-Entry-PAN-Delhi-HC-taxscan.jpg "Notice issued pointing income Escapement in the form of Stock/Bills of Entry for Import on deactivated PAN is not valid: Delhi HC [Read Order]")
Notice issued pointing income Escapement in the form of Stock/Bills of Entry for Import on deactivated PAN is not valid: Delhi HC [Read Order]
The Delhi High Court (HC) held that the notice issued pointing to income escapement in the form of stock/bills of entry for import on deactivated PAN...
![Re-assessment based on error committed by AO not permissible when Income Tax deduction allowed after verification: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Re-assessment-AO-Income-Tax-deduction-Delhi-HC-taxscan.jpg "Re-assessment based on error committed by AO not permissible when Income Tax deduction allowed after verification: Delhi HC [Read Order]")
![Disallowance u/s 14A cannot be more than Exempt Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-Exempt-Income-ITAT-TAXSCAN.jpg "Disallowance u/s 14A cannot be more than Exempt Income: ITAT [Read Order]")
![No Material to Form ‘Reason to Believe’: ITAT quashes Re-Assessment against Oracle for Assessing Royalty from Global Deals [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ITAT-Re-Assessment-Royalty-taxscan.jpg "No Material to Form ‘Reason to Believe’: ITAT quashes Re-Assessment against Oracle for Assessing Royalty from Global Deals [Read Order]")
Reassessment proceeding is not valid when there is no connection between recorded reason and Addition of the Income: ITAT [Read Order]
The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) has held that a reassessment proceeding is not valid when there is no connection between recorded reason and addition of the income ...
![Reassessment proceeding is not valid when there is no connection between recorded reason and Addition of the Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-Income-ITAT-taxscan.jpg "Reassessment proceeding is not valid when there is no connection between recorded reason and Addition of the Income: ITAT [Read Order]")
Sole reliance on Report of Investigation Wing: ITAT sets aside Income Tax Addition as Unexplained Investment [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi bench set aside addition as un-explained investment as there was sole reliance on report of Investigation Wing. The assessment of the assessee,...
![Sole reliance on Report of Investigation Wing: ITAT sets aside Income Tax Addition as Unexplained Investment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Investigation-Wing-ITAT-Income-Tax-addition-Investment-taxscan.jpg "Sole reliance on Report of Investigation Wing: ITAT sets aside Income Tax Addition as Unexplained Investment [Read Order]")
Due knowledge of Outcome for Withdrawal Application tendered before FAA: ITAT refuses to Condone delay for 239 days [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench refused to condone delay of 239 days as there was due knowledge of outcome for withdrawal application tendered before First Appellate Authority...
![Due knowledge of Outcome for Withdrawal Application tendered before FAA: ITAT refuses to Condone delay for 239 days [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/FAA-ITAT-Condone-delay-taxscan.jpeg "Due knowledge of Outcome for Withdrawal Application tendered before FAA: ITAT refuses to Condone delay for 239 days [Read Order]")
Re-Assessment proceeding under section 147 is Invalid In absence of valid Service of Notice: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT)has held that the re-assessment proceeding under section 147 is invalid in absence of valid service of notice. Smt. Shashi Kanta, the...
![Re-Assessment proceeding under section 147 is Invalid In absence of valid Service of Notice: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Re-Assessment-proceeding-service-of-notice-ITAT-taxscan.jpeg "Re-Assessment proceeding under section 147 is Invalid In absence of valid Service of Notice: ITAT [Read Order]")
Income Tax: Sufficiency or Adequacy of Reasons for Re-Assessment cannot be decided through Writ Petition, rules Telangana HC [Read Order]
A division bench of the Telangana High Court has held that the sufficiency or adequacy of reasons for re-assessment under section 148 of the Income Tax Act, 1961 cannot be decided by invoking writ...
![Income Tax: Sufficiency or Adequacy of Reasons for Re-Assessment cannot be decided through Writ Petition, rules Telangana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Income-Tax-Re-Assessment-Writ-Petition-Telangana-HC-taxscan.jpeg "Income Tax: Sufficiency or Adequacy of Reasons for Re-Assessment cannot be decided through Writ Petition, rules Telangana HC [Read Order]")
![Bogus Long Term Capital Gain claimed as Exempt Income is not allowable, Chargeable to Tax: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Bogus-Long-Term-Capital-Gain-Tax-Delhi-HC-taxscan.jpg "Bogus Long Term Capital Gain claimed as Exempt Income is not allowable, Chargeable to Tax: Delhi HC [Read Order]")
Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]
In a significant ruling, a division bench of the Delhi High Court has held that the statutory benefit under section 54 of the Income Tax Act, 1961 cannot be denied to the assessee merely for the...
![Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Gain-Exemption-Delhi-HC-Re-Assessment-taxscan.jpeg "Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]")