Aiswarya Krishnadas
CESTAT Weekly Round Up
This weekly round-up analytically summarizes the key stories of the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) reported at...
![Delay of 726 Days not properly explained: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Chennai-ITAT-Income-tax-Time-barred-appeal-Income-tax-news-taxscan.jpg "Delay of 726 Days not properly explained: ITAT dismisses Appeal [Read Order]")
![Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Genuineness-Share-Purchase-Transaction-Claim-Creditworthiness-of-Invested-Company-ITAT-dismisses-Appeal-TAXSCAN.jpg "Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]")
![Department of Inland Revenue Sri Lanka Certifies Assessee’s Gross Remuneration: ITAT directs AO to allow TDS Credit and Self-Assessment Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Department-Inland-Revenue-Sri-Lanka-Certifies-Gross-Remuneration-ITAT-AO-TDS-Credit-Self-Assessment-Tax-TAXSCAN.jpg "Department of Inland Revenue Sri Lanka Certifies Assessee’s Gross Remuneration: ITAT directs AO to allow TDS Credit and Self-Assessment Tax [Read Order]")
![Opportunity to be Heard Denied:Â ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Delhi-Income-Tax-Section-68-of-Income-Tax-Act-taxscan.jpg "Opportunity to be Heard Denied:Â ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
Tax Treaty Benefit Not Denied merely on Ground of Mobile Number Provided in ITR showed Fraud in True caller: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that tax treaty benefits cannot be denied solely based on the mobile number provided in the Income Tax Return (...
![Tax Treaty Benefit Not Denied merely on Ground of Mobile Number Provided in ITR showed Fraud in True caller: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Tax-Treaty-Benefit-Denied-merely-Ground-of-Mobile-Number-Provided-ITR-showed-Fraud-True-caller-ITAT-taxscan.jpg "Tax Treaty Benefit Not Denied merely on Ground of Mobile Number Provided in ITR showed Fraud in True caller: ITAT [Read Order]")
ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed Union Bank of India to claim deduction under Section 80P (2) (a) (i) for dividends received from cooperative bank shares. ...
![ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Union-Bank-of-India-us-80P-2ai-Dividends-Co-operative-Bank-Shares-TAXSCAN-1.jpg "ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]")
Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has disallowed the taxpayer's claim under Section 54 of the Income Tax Act, 1961 stating that the taxpayer failed to construct a...
![Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Section-54-Income-Tax-Act-Residential-House-Construction-Taxpayer-Claim-Old-House-Transfer-taxscan.jpg "Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]")
ITAT deletes Adjustment on Account of Arm's Length Pricing of Export Commission Payment against Honda Subsidy [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the adjustment regarding the arm's length pricing of export commission payment against Honda subsidy. The assessee was a...
![ITAT deletes Adjustment on Account of Arms Length Pricing of Export Commission Payment against Honda Subsidy [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Export-Commission-Payment-Honda-Honda-Subsidy-Export-commission-pricing-Honda-Motor-taxscan.jpg "ITAT deletes Adjustment on Account of Arms Length Pricing of Export Commission Payment against Honda Subsidy [Read Order]")
Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT )Â has deleted the addition of INR 60.1 Lakhs after the appellant's bank statements confirmed full payment and compliance with Section...
![Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Mumbai-Income-tax-Bank-statement-Bank-statements-evidence-taxscan.jpg "Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]")
Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 68 of the Income Tax Act, 1961 as the source for deposits made during the demonetization period...
![Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Demonetisation-deposits-Section-68-of-income-tax-act-taxscan.jpg "Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")