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Agricultural Land Sold to Non-Agriculturist Remains Agricultural and cannot be treated as Capital Assets: ITAT [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that agricultural land sold to a non-agriculturist...

Software Project Abandoned with No Enduring Benefit, Expenses treated as Revenue in Nature: ITAT...

DGFT - DGFT imposes Countervailing Duty - Steel Pipes - Directorate General of Foreign Trade - Taxscan

DGFT imposes Countervailing Duty on Welded Stainless-Steel Pipes from China and Vietnam for 5 years...

19 Days of Delay in Filing Appeal Condoned due to Outdated Email Address: ITAT remits Matter to...

AO incorrectly invokes Section 69A and Charges Tax u/s 115 BBE of Income Tax Act: ITAT deletes...

ITAT deletes Rs. 14 Lakhs Addition made by AO due to Misreported Property Transaction Details [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) deleted a Rs. 14 lakhs addition made by the Assessing Officer ( AO ) under section 69A of Income Tax Act,1961. The addition was based on...

Failure to Disclose Loan, Repayment or Interest Paid to Creditor: ITAT upholds Addition of Rs. 1.30 crores [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of ₹1, 30,45,000/- due to the assessee's failure to disclose the loan of ₹7,25,000/- availed from Pravinbhai...

AO’s Failure to issue Notice u/s 143(2): Delhi HC quashes Reassessment order [Read Order]

The Delhi High Court quashed the reassessment order because the Assessing Officer failed to issue a notice under Section 143(2) of the Income Tax Act, 1961, and further noted that, according to Ashok...

Delhi High Court - Delhi HC - Reassessment order - AO’s Failure - Assessing Officer - Section 143(2) - Section 143(2) Income Tax Act - TAXSCAN

MCA notifies Threshold Limit of Minimum ₹450 Crore Asset and ₹1,250 Crore Turnover for Combinations under Competition Act [Read Notification]

The Ministry of Corporate Affairs ( MCA ) has introduced new threshold limits for determining combinations under the Competition Act, 2002, with the notification of the Competition ( Minimum Value...

FAA issues 6 Income Tax Notices likely Delivered to Assessee's Spam Folder: ITAT directs Fresh Adjudication [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) directed fresh adjudication after finding that the First Appellate Authority ( FAA )'s six income tax notices were likely delivered to...

CIT(A) issues 5 Income Tax Notices within 40 days, Fails to Consider Facts filed in Form 35: ITAT directs Fresh Adjudication [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) directed fresh adjudication after finding that the Commissioner of Income Tax (Appeals) [CIT(A)] had issued five notices within 40 days...

Tribunal has no Power to Recall/Review its own Orders: ITAT dismisses MA Challenging Revisionary Order [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the Miscellaneous Application (M.A.) of the assessee challenging revisionary order stating Tribunal has no power to...

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