Aiswarya Krishnadas
![Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Bangalore-ITAT-Income-Tax-Employee-Stock-Ownership-Plan-Books-of-Account-ESOP-Expenses-Taxscan.jpg "Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]")
Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled in favor of the taxpayer, affirming that the deduction for ESOP (...
![Form 10B Audit Report Submission hinders due to Technical Glitches in Software, Revenue rejects Plea for Re-submission: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-tax-Income-tax-news-Form-10B-Audit-Report-Re-submission-Form-10B-taxscan.jpg "Form 10B Audit Report Submission hinders due to Technical Glitches in Software, Revenue rejects Plea for Re-submission: ITAT deletes Addition [Read Order]")
![Property Sale regularised in Govt records and covered as Capital Asset u/s 2(14) of Income Tax Act: ITAT disallows Indexed cost of Construction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Property-sale-taxscan.jpg "Property Sale regularised in Govt records and covered as Capital Asset u/s 2(14) of Income Tax Act: ITAT disallows Indexed cost of Construction [Read Order]")
![Income Tax Dept. fails to File Appeal on time, No Explanation provided for Delay: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Income-tax-appeal-dismissed-taxscan.jpg "Income Tax Dept. fails to File Appeal on time, No Explanation provided for Delay: ITAT dismisses Appeal [Read Order]")
![TDS on Salary paid to all Categories of Doctors shall be covered u/s 194J of Income Tax Act, not Section 192: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-tax-TDS-TDS-on-salary-Doctor-Salary-TDS-Doctor-salary-taxation-taxscan.jpg "TDS on Salary paid to all Categories of Doctors shall be covered u/s 194J of Income Tax Act, not Section 192: ITAT [Read Order]")
Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Section 2 (22) of Income Tax cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans. ...
![Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Company-Loans-Shareholders-TAXSCAN.jpg "Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]")
AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has invalidated a reassessment order as the Assessing Officer's sole reliance on DDIT report for the alleged 15 crore income escapement...
![AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Delhi-ITAT-Income-Tax-DDIT-Deputy-Director-of-Income-Tax-Income-escapement-assessment-Taxscan.jpg "AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]")
ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers' Objection [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) dismissed reassessment as Assessing Officer ( AO ) failed to pass assessment Order within 4 weeks from rejection of taxpayers' objection....
![ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Reassessment-AO-Pass-Assessment-Order-Rejection-Taxpayers-Objection-TAXSCAN.jpg "ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]")
TDS filing Delayed due to Paucity of Funds and Interest Duly Paid: ITAT deletes Penalty u/s 272(2)(k) [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under section 272(2)(k) of the Income Tax Act, 1961 as Tax Deduction at Source ( TDS ) Â filing was delayed due to...
![TDS filing Delayed due to Paucity of Funds and Interest Duly Paid: ITAT deletes Penalty u/s 272(2)(k) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-TDS-TDS-filing-taxscan.jpg "TDS filing Delayed due to Paucity of Funds and Interest Duly Paid: ITAT deletes Penalty u/s 272(2)(k) [Read Order]")
Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has observed that the magnitude of profit is not decisive factor about genuineness of existence of an investee company. The assessee...
![Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Profit-TAXSCAN.jpg "Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]")
Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Interconnect usage charges paid to foreign Telecom Operators Not Taxable in India under India-Sri Lanka...
![Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-foreign-Telecom-Operators-taxscan.jpg "Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]")
Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT) observed that loan advanced for repayment of business operation liabilities allowable as business expenditure under Section 37(1) of the...
![Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Repayment-of-Business-Operation-TAXSCAN.jpg "Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]")