Aparna. M
AO’s failure to conduct Independent Enquiry in respect of deposit in bank account for issuance of Demand Draft in favour of Indian Oil Corporation: ITAT deletes addition
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, while deleting the addition made by the Assessing Officer (AO), held that the AO failed to...
![ITAT deletes assessment order passed u/s 153A of Income Tax Act against non existent partnership firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Non-Existent-Partnership-Firm-Partnership-Firm-Income-Tax-Act-Income-Tax-Tax-News-Existent-Partnership-Firm-Partnership-Firm-TAXSCAN.jpg "ITAT deletes assessment order passed u/s 153A of Income Tax Act against non existent partnership firm [Read Order]")
![Rates for power made available through Indian Energy Exchange are not applicable to consumers; rather, they are rates to DISCOM: ITAT deletes TP Adjustment against Tata Steel [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Tata-Steel-TP-Adjustment-against-Tata-Steel-income-tax-taxscan.jpg "Rates for power made available through Indian Energy Exchange are not applicable to consumers; rather, they are rates to DISCOM: ITAT deletes TP Adjustment against Tata Steel [Read Order]")
Pass Through Cost directly relatable to Advertisement & Publicity, Business Promotion and participation in trade events are excluded from cost base :ITAT Grants relief to BBC World (India) [Read Order]
The Income Tax Appellate Tribunal (ITAT),Delhi Bench while granting relief to BBC World (India) held that pass-through cost directly relatable to advertisement & publicity,...
![Pass Through Cost directly relatable to Advertisement & Publicity, Business Promotion and participation in trade events are excluded from cost base :ITAT Grants relief to BBC World (India) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/bcc-1.jpg "Pass Through Cost directly relatable to Advertisement & Publicity, Business Promotion and participation in trade events are excluded from cost base :ITAT Grants relief to BBC World (India) [Read Order]")
Unsold flats categorized as Stock in Trade should be assessed as 'Business Income,' not 'Income from House Property: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while quashing the revision order, held that unsold flats categorized as stock in trade should be assessed as business income, not income from...
![Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Unsold-flats-Stock-in-Trade-should-be-assessed-as-Business-Income-Income-House-Property-ITAT-Revision-Order-TAXSCAN.jpg "Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]")
Cess can be levied only on Original Owner of property not Subsequent Purchaser: Rajasthan HC Stays Demand of cess against Hoteiler [Read Order]
In a recent case, the Rajasthan High Court, while staying the demand for cess against hoteliers, held that cess could be levied only on the original owner of the property, not the subsequent...
Retirement amount received by partner through Arbitration Proceedings from partnership firm is not chargeable to tax: Bombay HC quashes Reassessment Proceedings [Read Order]
In a recent case, the Bombay High Court, while quashing the reassessment proceedings, held that the retirement amount received by the partner through arbitration proceedings from the partnership firm...
Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that anonymous donations received by trusts carrying on religious and charitable activities, approved under Section 10(23C)(v) of the...
![Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Anonymous-Donations-Donations-Trusts-religious-and-charitable-activities-ITAT-Taxscan.jpg "Anonymous Donations received by Trusts carrying on religious and charitable activities approved u/s 10(23C)(v) of Income Tax Act eligible for benefit of exclusion in Section 115BBC(2)(b) of IT Act: ITAT [Read Order]")
Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while directing to restrict the addition to the extent of 0.05% of gross total, observed that cash deposited in the name of various...
![Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Cash-Cash-deposited-bogus-business-activities-Cash-deposited-in-name-of-various-proprietorship-concerns-involving-in-bogus-business-activities-taxscan.jpg "Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]")
No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that no disallowance should be made under Section 14A of the Income Tax Act, 1961, when assessees have their own funds exceeding...
![No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/macro-tech-Developers-Income-Tax-Act-Investments-earning-Exempt-Income-taxscan.jpg "No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]")