Aiswarya Krishnadas
![Supreme Court Condones Income Tax Depts Delay in SLP Filing Against Telangana HC Decision on Assessment Order, Issues Notice [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/05/Supreme-Court-Assessment-Order-Special-Leave-Petition-taxscan.jpg "Supreme Court Condones Income Tax Depts Delay in SLP Filing Against Telangana HC Decision on Assessment Order, Issues Notice [Read Judgement]")
Supreme Court Condones Income Tax Dept's Delay in SLP Filing Against Telangana HC Decision on Assessment Order, Issues Notice [Read Judgement]
The Supreme Court has issued notice after condoning the Income Tax Department's delay in filing the Special Leave Petition against the Telangana High...
![CESTAT not Committed any Error in Law or Fact w.r.t. Demand of Differential Customs Duty: SC Dismisses Appeal [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/05/CESTAT-Supreme-Court-Customs-Duty-Customs-duty-demand-Tax-news-taxscan.jpg "CESTAT not Committed any Error in Law or Fact w.r.t. Demand of Differential Customs Duty: SC Dismisses Appeal [Read Judgement]")
![Identity, Creditworthiness of Shares Subscribing Companies, Transaction Genuineness Proven: ITAT deletes addition of 40 Lakhs u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Kolkata-Income-Tax-Section-411-of-Income-Tax-Act-Trading-Liability-Due-Absence-of-Liability-in-Books-Taxscan-1.jpg "Identity, Creditworthiness of Shares Subscribing Companies, Transaction Genuineness Proven: ITAT deletes addition of 40 Lakhs u/s 68 of Income Tax Act [Read Order]")
![TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition, Dismisses Revenues appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-newS-TPO-fails-to-apply-industry-filter-ITAT-deletes-additions-ITAT-rules-on-TPO-TAXSCAN.jpg "TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition, Dismisses Revenues appeal [Read Order]")
AO fails to issue notice u/s 148 of Income Tax Act against all Legal Heirs, Issues only against Deceased: ITAT deletes Addition [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition on grounds that the Assessing Officer ( AO ) failed to issue a notice under Section 148 of the Income Tax Act,...
![AO fails to issue notice u/s 148 of Income Tax Act against all Legal Heirs, Issues only against Deceased: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-Legal-heir-registrations-Legal-heirs-Assessing-officer-TAXSCAN.png "AO fails to issue notice u/s 148 of Income Tax Act against all Legal Heirs, Issues only against Deceased: ITAT deletes Addition [Read Order]")
Relief to Karur Vysya Bank: ITAT allows deduction u/s 36(1) (viii) as Reserve is Created out of Profit for Year 2013-2014, Deletes Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) granted relief to Karur Vysya Bank by allowing deduction under section 36(1)(viii) of the Income Tax Act, 1961 as the reserve was...
TDS has been Duly Deducted on Entire Salary Payments to Expats and Deposited into Govt account: ITAT deletes Addition of Rs. 1.83 crore [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Tax Deducted at Source ( TDS ) has been duly deducted on the entire salary payments to expats and deposited into the...
No Cogent Evidence to Establish that Properties Sold by Taxpayer are Agricultural Land: ITAT deletes Addition of Rs.16.8 lakhs [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs.16.8 lakhs, stating that there was no cogent evidence to establish that the properties sold by the taxpayer...
![No Cogent Evidence to Establish that Properties Sold by Taxpayer are Agricultural Land: ITAT deletes Addition of Rs.16.8 lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Chennai-ITAT-Agricultural-Land-ITAT-Deletes-Addition-of-Rs.16.8-lakhs-tax-news-Taxscan.jpg "No Cogent Evidence to Establish that Properties Sold by Taxpayer are Agricultural Land: ITAT deletes Addition of Rs.16.8 lakhs [Read Order]")
Section 41(1) of Income Tax Act Cannot Be Invoked for Cessation of Trading Liability Due to Absence of Liability in Books: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that absence of liability in books of account, provision of Section 41(1) of Income Tax Act, 1961 cannot be invoked as cessation...
![Section 41(1) of Income Tax Act Cannot Be Invoked for Cessation of Trading Liability Due to Absence of Liability in Books: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Kolkata-Income-Tax-Section-411-of-Income-Tax-Act-Trading-Liability-Due-Absence-of-Liability-in-Books-Taxscan.jpg "Section 41(1) of Income Tax Act Cannot Be Invoked for Cessation of Trading Liability Due to Absence of Liability in Books: ITAT [Read Order]")
Profit Embedded amount Purchase would be Subjected to Tax: ITAT directs AO to restrict Addition of Rs. 16.8 crores [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer to limit the addition of Rs. 16.8 crores, indicating that the profit-embedded amount from the purchase...
![Profit Embedded amount Purchase would be Subjected to Tax: ITAT directs AO to restrict Addition of Rs. 16.8 crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Profit-Embedded-amount-Purchase-Subjected-to-Tax-ITAT-AO-to-restrict-TAXSCAN.jpg "Profit Embedded amount Purchase would be Subjected to Tax: ITAT directs AO to restrict Addition of Rs. 16.8 crores [Read Order]")
Source of Funds Adequately Explained: ITAT Deletes Addition under Section 68 of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition under Section 68 of the Income Tax Act, 1961 concluding that the source of funds was prima facie sufficiently...
![Source of Funds Adequately Explained: ITAT Deletes Addition under Section 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-Tax-Appellate-Tribunal-Section-68-of-the-Income-Tax-act-Income-Tax-Income-Tax-act-source-of-funds-taxscan.jpg "Source of Funds Adequately Explained: ITAT Deletes Addition under Section 68 of Income Tax Act [Read Order]")