![ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Criticizes-PCIT-Interest-on-Unutilized-Govt-Grants-Interest-Unutilized-Govt-Grants-taxscan.jpg "ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]")
ITAT Criticizes PCIT for Disallowing Rs. 4.18 Crores Interest on Unutilized Govt Grants Without Considering Corp. Submission [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax ( PCIT ) for disallowing Rs....
![ITAT Upholds Gujarat Gas Ltd.s Deduction for Stamp Duty Provision u/s 35DD, citing Full Payment of Duty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Upholds-Gujarat-Gas-Ltd.-Gujarat-Gas-Ltd.-Deduction-for-Stamp-Duty-Stamp-Duty-taxscan.jpg "ITAT Upholds Gujarat Gas Ltd.s Deduction for Stamp Duty Provision u/s 35DD, citing Full Payment of Duty [Read Order]")
![‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appellate-Tribunal-Assessment-order-Appeal-against-any-Assessment-order-ITAT-condones-ITAT-Lucknow-Undue-Benefit-by-not-preferring-Appeal.jpg "‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]")
![Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-ITAT-judgment-on-jurisdictional-High-Court-Taxscan.jpg "Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]")
![AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Cochin-Income-Tax-Income-Tax-Appellate-Tribunal-Income-Tax-Appeal-TAXSCAN.jpeg "AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]")
Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCIT's Differing View: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the revisionary jurisdiction under Section 263 of the Income Tax Act,1961 cannot be invoked solely based on the Principal...
![Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Revision-Order-TAXSCAN.jpg "Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]")
Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has upheld a revision order reaffirming the right of the assessee, a Ginning Pressing Cotton Sale Co-operative Society Ltd. to make an...
![Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-ITAT-upholds-Revision-Order-Ancillary-Activities-allowing-Alternate-Claim-Alternate-Claim-Alternate-Claim-of-Co-Op-Society-taxscan.jpg "Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]")
[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) quashed the revision proceedings under Section 263 of the Income Tax Act initiated against the assessee at Vadodara, for Assessment...
![[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Section-263-Income-Tax-Act-Vadodara-Tax-Assessment-Income-Tax-Bogus-Purchases-taxscan.jpg "[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]")
No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the revision order for the re-examination of qualification as venture capital as there was no finding by the Commissioner...
![No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Chandigarh-CIT-Against-Claim-TAXSCAN.webp "No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]")
No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act of 1961 as the bench found no error or...
![No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Ahmedabad-Income-Tax-Section-263-Income-Tax-Act-Income-Tax-Act-Revision-Order-taxscan.jpg "No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]")
PCIT’s Different Views on Unrelated Issues do not Justify Invoking S.263 in Limited Scrutiny: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Principal Commissioner of Income Tax ( PCIT ) cannot invoke Section 263 of the Income Tax Act, 1961, simply because it...
![PCIT’s Different Views on Unrelated Issues do not Justify Invoking S.263 in Limited Scrutiny: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/PCIT-Limited-Scrutiny-ITAT-taxscan.jpg "PCIT’s Different Views on Unrelated Issues do not Justify Invoking S.263 in Limited Scrutiny: ITAT [Read Order]")