![Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revision-Passed-Recording-Whether-Notice-Assessee-Not-ITAT-Revision-Order-TAXSCAN.jpg "Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]")
Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has set aside the revision order holding that the revision order passed without recording...
![Reopening cannot be Merely based on Retracted Statement in the Absence of Tangible Materials: ITAT deletes Addition u/s 153A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reopening-Retracted-Statement-Absence-Tangible-Materials-ITAT-Income-Tax-Act-taxscan.jpeg "Reopening cannot be Merely based on Retracted Statement in the Absence of Tangible Materials: ITAT deletes Addition u/s 153A of Income Tax Act [Read Order]")
![Issuing Notices u/s 153C of Income Tax Act shall be from Six AYs immediately Preceding A.Y: ITAT dismiss Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Issuing-Notices-Income-Tax-Act-shall-be-from-Six-AYs-immediately-Preceding-ITAT-dismiss-appeal-TAXSCAN.jpg "Issuing Notices u/s 153C of Income Tax Act shall be from Six AYs immediately Preceding A.Y: ITAT dismiss Appeal [Read Order]")
![No addition can be made in hands of Assessee based on Book of Another Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-addition-addition-No-addition-can-be-made-in-hands-of-Assessee-hands-of-Assessee-Book-Book-of-Another-Firm-taxscan.jpg "No addition can be made in hands of Assessee based on Book of Another Firm: ITAT [Read Order]")
![Income Tax Deduction u/s 80IA(4)(iii) Allowable on Obtaining Govt Approval to Industrial Park: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Tax-Deduction-80IA4iii-Allowable-on-Obtaining-Govt-Approval-to-Industrial-Park-Bombay-HC-TAXSCAN.jpg "Income Tax Deduction u/s 80IA(4)(iii) Allowable on Obtaining Govt Approval to Industrial Park: Bombay HC [Read Order]")
![Mere Determination of Income based on Surmise and Conjecture is Grossly Illegal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Determination-of-Income-based-on-Surmise-and-Conjecture-is-Grossly-Illegal-ITAT-TAXSCAN.jpg "Mere Determination of Income based on Surmise and Conjecture is Grossly Illegal: ITAT [Read Order]")
ITAT Deletes Addition Made Towards Share Application Money Recorded in Books of Account on Unabated Assessment Year [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Mumbai Bench deleted the addition made towards share application money recorded in books of account on unabated assessment year. The assessee Morpan...
![ITAT Deletes Addition Made Towards Share Application Money Recorded in Books of Account on Unabated Assessment Year [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-deletes-addition-Share-Application-Money-Books-of-Account-taxscan.jpg "ITAT Deletes Addition Made Towards Share Application Money Recorded in Books of Account on Unabated Assessment Year [Read Order]")
No penalty shall be levied on profit rate of 8% estimated upon Gross Receipts as per provision of S. 44AD of Income Tax Act: ITAT
The Income Tax Appellate Tribunal (ITAT) Chandigarh Bench ruled that no penalty should be levied on profit rate of 8% estimated upon gross receipts as per provision of Section 44AD of Income Tax Act,...
No Income Tax Addition can be Made Without any Incriminating Materials being Unearthed during Search and Seizure: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the Assessing Officer (AO) in the absence of any incriminating material found during the search operation...
![No Income Tax Addition can be Made Without any Incriminating Materials being Unearthed during Search and Seizure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Income-Tax-Addition-Without-Incriminating-Materials-Unearthed-Search-Seizure-ITAT-TAXSCAN.jpg "No Income Tax Addition can be Made Without any Incriminating Materials being Unearthed during Search and Seizure: ITAT [Read Order]")
Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the unsecured loan availed by the assessee cannot be treated as unexplained cash credit under Section 68 of the Income Tax Act,1961...
![Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Unsecured-Loan-Availed-not-to-be-Treated-as-Unexplained-Cash-Credits-Income-Tax-Act-ITAT-TAXSCAN-1.jpg "Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]")
No Addition can be made u/s 153A of the Income Tax Act in the Absence of Seizure of Incriminating Materials during Search Proceedings: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that no addition can be made under section 153A of the Income Tax Act,1961 in the absence of seizure of any incriminating materials...
![No Addition can be made u/s 153A of the Income Tax Act in the Absence of Seizure of Incriminating Materials during Search Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Addition-Income-Tax-Act-Seizure-of-Incriminating-Materials-during-Search-Proceedings-Seizure-of-Incriminating-Materials-Search-Proceedings-ITAT-Taxscan.jpg "No Addition can be made u/s 153A of the Income Tax Act in the Absence of Seizure of Incriminating Materials during Search Proceedings: ITAT [Read Order]")
Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that material found from premises of third parties could not be utilized against assessee for assessment ...
![Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Material-Found-from-Premises-Third-Parties-cannot-be-utilized-assessee-for-making-Assessment-ITAT-TAXSCAN.jpg "Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]")