![Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ahmedabad-Revision-order-under-Income-Tax-TAXSCAN-1.jpg "Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]")
Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]
The Ahmedabad bench of ITAT quashed the revision passed under Section 263 of the Income Tax Act, 1961, observing that the Assessing Officer had...
![PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-PCIT-PCIT-Fails-ITAT-Sets-Jurisdiction-Assessment-order-Principal-Commissioner-of-Income-Tax-taxscan.jpg "PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]")
![Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Deduction-Income-Tax-TAXSCAN.jpg "Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]")
![Slump Sale under BTA would not amount to Sale of Goods under MVAT Act: Bombay HC rules in favour of Piramal Enterprises Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Bombay-High-Court-Business-Transfer-Agreement-Piramal-Enterprises-Maharashtra-Value-Added-Tax-Slump-Sale-taxscan.jpg "Slump Sale under BTA would not amount to Sale of Goods under MVAT Act: Bombay HC rules in favour of Piramal Enterprises Ltd [Read Order]")
![Mere Difference of Opinion with AO not a Base to Exercise Revision Jurisdiction under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-news-AO-TAXSCAN.jpg "Mere Difference of Opinion with AO not a Base to Exercise Revision Jurisdiction under Income Tax Act: ITAT [Read Order]")
Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]
The Gauhati High Court ruled that the Non-disclosure of the Long Term Capital Gain from sale of shares does not affect revenue’s interest or cause any loss as it is exempted from Income Tax under...
![Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Gauhati-high-court-gauhati-hc-gauhati-hc-news-Sale-of-shares-Revenue-Interest-TAXSCAN.jpg "Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]")
Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]
The Madras High Court has upheld an order under Section 263 of the Income Tax Act, dismissing a writ petition filed against it. The court emphasised the clear distinction between the scrutinised...
![Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Madras-HC-WP-Revision-Order-Scrutiny-Assessment-Order-IT-Act-Statutory-Appeal-taxscan.jpg "Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]")
Relief to Tata Steel Limited: ITAT rules Perpetual Non-convertible Debenture is an allowable Expenditure u/s 36 (1) (iii) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) granted relief to Tata Steel Limited, ruling that perpetual non-convertible debentures are allowable expenditure under Section...
![Relief to Tata Steel Limited: ITAT rules Perpetual Non-convertible Debenture is an allowable Expenditure u/s 36 (1) (iii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Tata-Steel-taxscan.jpg "Relief to Tata Steel Limited: ITAT rules Perpetual Non-convertible Debenture is an allowable Expenditure u/s 36 (1) (iii) of Income Tax Act [Read Order]")
Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the revisional jurisdiction under Section 263 of the Income Tax Act, 1961 is not invokable on simple disagreement with...
![Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Kolkata-Income-tax-Income-tax-news-Assessing-Officer-taxscan.jpg "Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]")
JDA Amendment for sharing consideration: ITAT quashes Revision Order passed without providing Valid Reason [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed without providing a valid reason in respect of the amendment in the Joint Development Agreement (...
![JDA Amendment for sharing consideration: ITAT quashes Revision Order passed without providing Valid Reason [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Ahmedabad-Income-Tax-JDA-Amendment-TAXSCAN.jpg "JDA Amendment for sharing consideration: ITAT quashes Revision Order passed without providing Valid Reason [Read Order]")
Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on available Evidence [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to conduct a fresh assessment due to the inadequacy of the inquiry into the source of fresh...
![Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on available Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Delhi-Income-Tax-ITAT-on-Source-of-capital-Evidence-based-on-tax-assessment-Source-of-Fresh-Capital-AO-Inquiry-Failure-taxscan.jpg "Failure of AO to conduct Proper Inquiry in source of Fresh Capital: ITAT directs AO to conduct Fresh Assessment based on available Evidence [Read Order]")
Proceeding u/s 263 can't be Initiated on Account of Income received from Fly Ash and Cenosphere: ITAT set aside Order of PCIT while granting relief to NTPC [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) set aside the order of the Principal Commissioner of Income Tax (PCIT) while granting relief to NTPC and held that the proceeding under...
![Proceeding u/s 263 cant be Initiated on Account of Income received from Fly Ash and Cenosphere: ITAT set aside Order of PCIT while granting relief to NTPC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Proceeding-Income-received-Fly-Ash-Cenosphere-ITAT-NTPC-Order-TAXSCAN.jpg "Proceeding u/s 263 cant be Initiated on Account of Income received from Fly Ash and Cenosphere: ITAT set aside Order of PCIT while granting relief to NTPC [Read Order]")