![Action taken by AO cannot be treated as prejudicial to the interest of revenue unless it is unsustainable in Law: ITAT quashes Revision Order for lack of Jurisdiction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-Action-taken-by-AO-Action-taken-by-AO-cannot-be-treated-as-prejudicial-to-the-interest-of-revenue-ITAT-taxscan.jpg "Action taken by AO cannot be treated as prejudicial to the interest of revenue unless it is unsustainable in Law: ITAT quashes Revision Order for lack of Jurisdiction [Read Order]")
Action taken by AO cannot be treated as prejudicial to the interest of revenue unless it is unsustainable in Law: ITAT quashes Revision Order for lack of Jurisdiction [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that if due to an erroneous order of the AO, the revenue is losing tax lawfully...
![Every loss of Revenue as a Consequence of Order of AO cannot be Treated as Prejudicial to Interests of Revenue: ITAT Quashes Revision order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Every-loss-of-Revenue-as-a-Consequence-of-Order-of-AO-Treated-as-Prejudicial-to-Interests-of-Revenue-ITAT-Quashes-Revision-order-TAXSCAN.jpg "Every loss of Revenue as a Consequence of Order of AO cannot be Treated as Prejudicial to Interests of Revenue: ITAT Quashes Revision order u/s 263 of Income Tax Act [Read Order]")
![Disallowance owing to State Government Grants towards Cost of Capital Assets: Supreme Court issues Notice to Maharashtra State Electricity Distribution Co. Ltd. [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-owing-State-Government-Grants-Cost-Capital-Assets-Supreme-Court-issues-Notice-Maharashtra-State-Electricity-Distribution-taxscan-1.jpg "Disallowance owing to State Government Grants towards Cost of Capital Assets: Supreme Court issues Notice to Maharashtra State Electricity Distribution Co. Ltd. [Read Order]")
![Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/invoked-Expenditure-incurred-CSR-allowed-AO-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]")
Assessment order does not contain Discussion on Legal aspects Highlighted by PCIT in Notice used u/s 263(1) of Income Tax Act: ITAT Directs Re-Adjudication as to Claim u/s 80IA(4) of Income Tax Act
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed adjudication as to claim under Section 80IA(4) of the Income Tax Act 1961 as the assessment order did not contain discussion on...
Excess income declared during survey proceedings and credited to P&L Account not to be treated as Unexplained Income: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that excess income declared during the course of survey proceedings cannot be treated as unexplained income since the same way credited...
![Excess income declared during survey proceedings and credited to P&L Account not to be treated as Unexplained Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Excess-income-survey-proceedings-credited-PL-Account-treated-Unexplained-Income-ITAT-TAXSCAN.jpg "Excess income declared during survey proceedings and credited to P&L Account not to be treated as Unexplained Income: ITAT [Read Order]")
PCIT can't exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Principal Commissioner of Income Tax (PCIT) cannot exercise the revisionary jurisdiction under Section 263 of the Income...
![PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/revisionary-jurisdiction-Evidences-produced-by-Assessee-ITAT-PCIT-taxscan.jpg "PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]")
Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai held that Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction under Section 35(1)(i) of Income Tax Act, 1961.Thus the bench...
![Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Form-3CM-and-Form-3CL-issued-by-DSIR-deduction-Income-Tax-Act-ITAT-quashes-Revision-Order-TAXSCAN.jpg "Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]")
![Act of AO Prejudicial to Interests of Revenue: ITAT upholds Revision Order of PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Act-AO-Prejudicial-Interests-Revenue-ITAT-Revision-PCIT-TAXSCAN-1.jpg "Act of AO Prejudicial to Interests of Revenue: ITAT upholds Revision Order of PCIT [Read Order]")
Failure of AO to Consider Sale of Scrap is Erroneous and Prejudicial to Interest of Revenue: ITAT Allows Exercise of Revisionary Power to PCIT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that failure of Assessing Officer (AO) in non-consideration of sale of scrap in the total revenue is erroneous and prejudicial to interest...
![Failure of AO to Consider Sale of Scrap is Erroneous and Prejudicial to Interest of Revenue: ITAT Allows Exercise of Revisionary Power to PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-of-AO-to-Consider-Sale-of-Scrap-Interest-of-Revenue-Sale-of-Scrap-ITAT-Allows-Exercise-of-Revisionary-Power-to-PCIT-ITAT-taxscan.jpg "Failure of AO to Consider Sale of Scrap is Erroneous and Prejudicial to Interest of Revenue: ITAT Allows Exercise of Revisionary Power to PCIT [Read Order]")
Violation of Natural Justice Principles: Allahabad HC imposes Costs of Rs 10,000 on Income Tax Authority [Read Order]
The Allahabad High Court imposed costs of Rupees 10,000/- on the Income Tax Authority for violation of natural justice principles. The petitioner, M/s M.L. Chains, deals in the business of gold...
![Violation of Natural Justice Principles: Allahabad HC imposes Costs of Rs 10,000 on Income Tax Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Violation-of-Natural-Justice-Principles-Natural-Justice-Principles-Allahabad-High-Court-Income-Tax-Authority-Income-Tax-Taxscan.jpg "Violation of Natural Justice Principles: Allahabad HC imposes Costs of Rs 10,000 on Income Tax Authority [Read Order]")