Aparna. M
![No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-investment-investment-books-of-Accounts-ITAT-Income-Tax-Addition-taxscan.jpg "No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]")
No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting the Income Tax Addition, held that no investment has been made by the assessee...
![ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-deletes-disallowance-Long-Term-Capital-Loss-Capital-Loss-Sale-of-Share-Share-of-private-company-private-company-initial-promoters-promoters.webp "ITAT deletes disallowance of Long Term Capital Loss incurred on Sale of Share of private company to initial promoters [Read Order]")
![Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Foreign-Currency-Expenses-Telecom-charges-Technical-Services-India-included-in-Export-Turnover-Income-Tax-Act-ITAT-Tech-Mahindra-TAXSCAN.jpg "Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]")
![ITAT Deletes Secondary Adjustment for Upfront Discount Payment by Tech Mahindra to Secure Software and IT Services Contract with Non-Resident Venture Partner [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Secondary-Adjustment-Discount-Payment-Tech-Mahindra-Secure-Software-IT-Services-Contract-Non-Resident-Venture-Partner-taxscan.jpg "ITAT Deletes Secondary Adjustment for Upfront Discount Payment by Tech Mahindra to Secure Software and IT Services Contract with Non-Resident Venture Partner [Read Order]")
Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, held that the appropriate LIBOR rate should be applied to determine the Arm's Length Price (ALP) for loans borrowed in foreign currency. The...
![Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Tech-Mahindra-ITAT-Directs-LIBOR-plus-80-Points-for-Interest-Rate-ALP-for-Loans-Foreign-Currency-TAXSCAN.jpg "Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]")
Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the proposed addition made under Section 50C of the Income Tax Act, 1961, concerning Long-Term Capital Gain, could only be processed...
![Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-restored-issue-back-to-AO-respect-of-LTCG-Income-Tax-Act-ITAT-restored-issue-taxscan.jpg "Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]")
Delhi HC Disposes Petition on Parallel Agri Urea Diversion and ITC Claim Investigations by Jurisdictional Commissionerate and DGGI [Read Order]
In a recent case, the Delhi high court had disposed of a petition on parallel Agri Urea diversion and Input Tax Claim (ITC) claim investigations conducted by the Jurisdictional Commissionerate and...
ITAT deletes Disallowance made u/s 36(1)(vii) of Income Tax Act in respect of Bad Debts written off by Non-Rural branches of Canara Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has annulled the disallowance under Section 36(1)(vii) of the Income Tax Act, 1961, pertaining to bad debts written off by non-rural...
![ITAT deletes Disallowance made u/s 36(1)(vii) of Income Tax Act in respect of Bad Debts written off by Non-Rural branches of Canara Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/bad-debts-written-off-by-Non-Rural-branches-of-Canara-Bank-Non-Rural-branches-bad-debts-TAXSCAN.jpg "ITAT deletes Disallowance made u/s 36(1)(vii) of Income Tax Act in respect of Bad Debts written off by Non-Rural branches of Canara Bank [Read Order]")
Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while directing the reassessment of the assessee's case, held that the notice for reopening the assessment regarding the issue of capital gains...
![Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Notice-Reopening-Assessment-Capital-Gain-Notice-for-Reopening-Assessment-in-respect-of-issue-of-Capital-Gain-Deceased-Person-ITAT-taxscan.jpg "Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs re-adjudication [Read Order]")
ITAT deletes Disallowance made toward Rental Expenses Incurred for Property taken on Rent for Business Purpose [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, deleted the disallowance made towards the rental expenses incurred for a property taken on rent for business purposes. The assessee, U &...
![ITAT deletes Disallowance made toward Rental Expenses Incurred for Property taken on Rent for Business Purpose [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Disallowance-toward-Rental-Expenses-Incurred-for-Property-Rent-for-Business-Purpose-TAXSCAN.jpg "ITAT deletes Disallowance made toward Rental Expenses Incurred for Property taken on Rent for Business Purpose [Read Order]")
Rental Income received from letting out property is taxable under head “Income from House Property": ITAT allows deduction u/s 24(a) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that rental income received from letting out property is taxable under the head "Income from house property." Therefore, the bench allowed a...
![Rental Income received from letting out property is taxable under head “Income from House Property: ITAT allows deduction u/s 24(a) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Rental-Income-received-from-letting-out-property-is-taxable-Income-from-House-Property-ITAT-allows-deduction-Income-Tax-Act-TAXSCAN.jpg "Rental Income received from letting out property is taxable under head “Income from House Property: ITAT allows deduction u/s 24(a) of Income Tax Act [Read Order]")