![Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Inadvertent-Error-in-statement-during-Hearing-cannot-be-Reason-for-Levy-of-penalty-Income-Tax-Act-ITAT-quashes-Penalty-against-Kotak-Mahindra-Bank-TAXSCAN.jpg "Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]")
Inadvertent Error in statement during Hearing cannot be Reason for Levy of penalty u/s 272(1)(c) of Income Tax Act: ITAT quashes Penalty against Kotak Mahindra Bank [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) quashed penalty on the grounds that an inadvertent error in statement made by the assessee...
![Disallowance of Liability Towards Expenditure on Discontinuance of Seven Clinics of Kaya Skin: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-of-Liability-Expenditure-Seven-Clinics-of-Kaya-Skin-ITAT-taxscan.jpg "Disallowance of Liability Towards Expenditure on Discontinuance of Seven Clinics of Kaya Skin: ITAT [Read Order]")
![No deduction shall be allowable if Payment of Employee Contribution towards PF & ESI not made due Date As per PF & ESI Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-deduction-allowable-Payment-Employee-Contribution-PF-ESI-due-Date-PF-ESI-Act-ITAT-TAXSCAN.jpg "No deduction shall be allowable if Payment of Employee Contribution towards PF & ESI not made due Date As per PF & ESI Act :ITAT [Read Order]")
![NFAC cannot Adjudicate Appeals already Disposed of by CIT(A): ITAT direct Department to Pay Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/NFAC-bound-NFAC-CBDT-CBDT-Circular-ITAT-Taxscan.jpg "NFAC cannot Adjudicate Appeals already Disposed of by CIT(A): ITAT direct Department to Pay Cost [Read Order]")
![Addition made on Unexplained Investment u/s 69 of Income Tax Act without Proper Application of Mind: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-made-Unexplained-Investment-Income-Tax-Act-Proper-Application-Mind-ITAT-Deletes-Addition-TAXSCAN.jpg "Addition made on Unexplained Investment u/s 69 of Income Tax Act without Proper Application of Mind: ITAT Deletes Addition [Read Order]")
Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that lease rental income received from letting out of school buildings with amenities should be treated as Income from House...
![Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Lease-rental-income-letting-out-school-building-amenities-Income-from-House-property-House-property-ITAT-income-tax-taxscan.jpg "Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]")
Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the penalty imposed under section 271(1)(c) of the Income Tax Act,1961 by the assessing officer without the application of...
![Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Section-2711c-of-Income-Tax-Act-Application-of-mind-Deduction-claim-set-aside-order-ITAT-income-tax-act-income-tax-without-application-of-mind-taxscan.jpg "Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]")
![Disallowance u/s 14A of IT Act shall not exceeds limit of exempted income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/14A-of-IT-Act-shall-not-exceeds-limit-of-exempted-income-ITAT-TAXSCAN.jpg "Disallowance u/s 14A of IT Act shall not exceeds limit of exempted income: ITAT [Read Order]")
ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently deleted an addition made on account of disallowance of interest expenses accrued on account of investment made in...
![ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-made-by-disallowance-of-Interest-Expenses-accrued-from-Investment-made-in-Shares-and-Securities-TAXSCAN.jpg "ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]")
ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the penalty order as the non-filing of income return and concealing particulars cannot be levied under Section 271(1)(c)...
![ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Penalty-Order-as-Non-Filing-of-Income-Tax-Return-and-Concealing-Particulars-Levied-u-s-2711c-TAXSCAN.jpg "ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]")
Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]
The Mumbai Bench of Income Tax Appellate tribunal (ITAT) has allowed capital gain exemption under Section 54F of the Income Tax Act 1961, on finding that the purchase of flats was out of sale...
![Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-Proceeds-of-Gold-Jewellery-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]")
![Activities by Liaison Office proprietary in Nature, not PE under India Switzerland DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Liaison-Office-proprietary-Liaison-Office-PE-India-Switzerland-DTAA-ITAT-Income-Tax-taxscan.jpg "Activities by Liaison Office proprietary in Nature, not PE under India Switzerland DTAA: ITAT [Read Order]")