![Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-from-Other-Sources-Income-ITAT-Provisions-Income-which-are-Treated-as-Income-from-Other-Sources-Taxscan.jpg "Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]")
Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of Section 44AB of the Income Tax Act, 1961 is not...
![No Audit can be Made u/s 44AB of Income Tax Act When Assessee Has Not Maintain Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Audit-Income-Tax-Act-Income-Tax-Assessee-Has-Not-Maintain-Books-of-Account-Assessee-Books-of-Account-ITAT-Taxascan.jpg "No Audit can be Made u/s 44AB of Income Tax Act When Assessee Has Not Maintain Books of Account: ITAT [Read Order]")
![No Penalty shall be Levied u/s 271b of Income Tax Act ,if Assessee Proves Reasonable Cause for Failure to Furnish Audit Record :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Penalty-shall-be-Levied-Income-Tax-Act-Reasonable-Cause-Failure-to-Furnish-Audit-Record-Audit-Record-ITAT-Taxscan.jpg "No Penalty shall be Levied u/s 271b of Income Tax Act ,if Assessee Proves Reasonable Cause for Failure to Furnish Audit Record :ITAT [Read Order]")
S. 44B of Income Tax Act Not Applicable as NLU is 'Local Authority', Not Carrying out Business: ITAT Quashes Penalty [Read Order]
While entertaining the appeal of the National Law University, Delhi (NLUD), the Delhi bench of Income tax Appellate Tribunal (ITAT) of quashed the penalty order passed under Section 271B of the...
![S. 44B of Income Tax Act Not Applicable as NLU is Local Authority, Not Carrying out Business: ITAT Quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Act-Not-Applicable-as-NLU-NLU-Business-ITAT-Quashes-Penalty-ITAT-Penalty-Taxscan.jpg "S. 44B of Income Tax Act Not Applicable as NLU is Local Authority, Not Carrying out Business: ITAT Quashes Penalty [Read Order]")
Late Filing of Audit Report due to Sufficient Cause u/s 273B of IT Act: ITAT deletes Penalty [Read Order]
The Amritsar bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed on late filing of audit reports. Tarlok Singh, the appellant assessee appealed against the order passed...
![Late Filing of Audit Report due to Sufficient Cause u/s 273B of IT Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Late-Filing-of-Audit-Report-Sufficient-Cause-Late-Filing-Audit-Report-Audit-Report-due-to-Sufficient-Cause-taxscan.jpg "Late Filing of Audit Report due to Sufficient Cause u/s 273B of IT Act: ITAT deletes Penalty [Read Order]")
The difference in non-delivery derivative Transactions be taken for determining Turnover for Tax Audit u/s 44AB of IT Act: ITAT deletes Penalty u/s 271B
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271B of the Income Tax Act, 1961 holding that the difference in non-delivery derivative transactions...
Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal(ITAT) held that no penalty shall be imposed for non-submission of audit reports due to reasonable cause under section 273B of the Income Tax...
![Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Not-Imposable-for-Non-Submission-of-Audit-Report-due-to-Reasonable-Cause-IT-Act-ITAT-TAXSCAN.jpg "Penalty Not Imposable for Non-Submission of Audit Report due to Reasonable Cause u/s 273B of IT Act: ITAT [Read Order]")
![ITAT deletes ex parte Addition u/s 68 of Income Tax Act made during COVID 19 Pandemic [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Customs-Duty-No-Customs-Duty-on-Import-Import-Covid-19-Vaccine-Covid-19-Vaccine-to-India-CBIC-Import-taxscan.jpg "ITAT deletes ex parte Addition u/s 68 of Income Tax Act made during COVID 19 Pandemic [Read Order]")