Aparna. M
![Guarantee Fees paid to Govt of Gujarat in consideration of Guarantee issued by it for Repayment of Unsecured loan is Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Guarantee-Fees-Fees-Repayment-Unsecured-loan-Revenue-Expenditure-ITAT-taxscan.jpg "Guarantee Fees paid to Govt of Gujarat in consideration of Guarantee issued by it for Repayment of Unsecured loan is Revenue Expenditure: ITAT [Read Order]")
Guarantee Fees paid to Govt of Gujarat in consideration of Guarantee issued by it for Repayment of Unsecured loan is Revenue Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad  bench held that guarantee fees paid to the government of Gujarat in consideration of guarantee...
![Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Determination-Income-assessee-Estimate-sufficient-constitute-Concealed-Income-ITAT-Penalty-TAXSCAN.jpg "Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]")
![Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-Warranty-expenses-motor-vehicles-ascertained-actual-expenses-settlement-warranty-schemes-ITAT-TAXSCAN.jpg "Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]")
![Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-of-Income-Tax-Act-Carry-Forward-of-Business-Loss-Depreciation-ITAT-Income-Tax-taxscan.jpg "Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]")
![No Addition u/s 41(1) of the Income Tax Act as assessee acknowledged liability and reflected the same in its books of account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Addition-Addition-Income-Tax-Act-Income-Tax-Act-as-assessee-acknowledged-liability-and-reflected-the-same-in-its-books-of-account-assessee-books-of-account-ITAT-income-tax-taxscan.jpg "No Addition u/s 41(1) of the Income Tax Act as assessee acknowledged liability and reflected the same in its books of account: ITAT [Read Order]")
ITAT quashes Reassessment Order passed without fulfillment of criteria u/s 151 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench quashed reassessment order passed under Section 148 of the Income Tax Act, 1961 without fulfilled the criteria mentioned under Section 151 of the...
![ITAT quashes Reassessment Order passed without fulfillment of criteria u/s 151 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Reassessment-Order-ITAT-quashes-Reassessment-Order-fulfillment-of-criteria-Income-Tax-Act-Income-Tax-taxscan.jpg "ITAT quashes Reassessment Order passed without fulfillment of criteria u/s 151 of Income Tax Act [Read Order]")
Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench quashed the application of maximum marginal rate on the trust with known beneficiaries and directed it to apply individual rate upon return of...
![Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Application-of-Maximum-Marginal-Rate-on-Trust-Beneficiaries-ITAT-Rates-TAXSCAN.jpg "Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]")
ITAT directs Re-adjudication of Foreign Income earned by Deceased Assessee depending on Residential Status of Previous Year, not that of the Executor [Read Order]
The Income Tax Appellate Tribunal (ITAT)Â Mumbai bench directed readjudication of foreign Income earned by the deceased assessee depending on residential status of the previous year, not that of the...
![ITAT directs Re-adjudication of Foreign Income earned by Deceased Assessee depending on Residential Status of Previous Year, not that of the Executor [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-Re-adjudication-of-Foreign-Income-Deceased-Assessee-depending-on-Residential-Status-of-Previous-Year-Executor-TAXSCAN.jpg "ITAT directs Re-adjudication of Foreign Income earned by Deceased Assessee depending on Residential Status of Previous Year, not that of the Executor [Read Order]")
ITAT quashes Reassessment Order passed u/s 148 of Income Tax Act based on vague reasons related to Transactions carried on platform of NSE [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench quashes Reassessment order passed under Section 148 of the Income Tax Act, 1961 based on vague reasons related to transactions carried on platform...
![ITAT quashes Reassessment Order passed u/s 148 of Income Tax Act based on vague reasons related to Transactions carried on platform of NSE [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-quashes-Reassessment-Order-passed-Income-Tax-Act-ITAT-Reassessment-Order-passed-Transactions-carried-on-platform-of-NSE-Reassessment-taxscan.jpg "ITAT quashes Reassessment Order passed u/s 148 of Income Tax Act based on vague reasons related to Transactions carried on platform of NSE [Read Order]")
Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that Income Tax Addition under Section 69 of the Income Tax Act, 1961 should not be made if assessee prove identity and creditworthiness of...
![Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Income-Tax-Act-assessee-identity-creditworthiness-lenders-respect-loan-purchase-property-ITAT-TAXSCAN.jpg "Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]")
Foreign Assignment Allowance received by assessee for services rendered outside India shall not be taxed in India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Hyderabad bench held that foreign assignment allowances received by the assessee during the employment for his company for services rendered outside...
![Foreign Assignment Allowance received by assessee for services rendered outside India shall not be taxed in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Foreign-Assignment-Allowance-received-assessee-services-rendered-outside-India-taxed-India-ITAT-TAXSCAN.jpg "Foreign Assignment Allowance received by assessee for services rendered outside India shall not be taxed in India: ITAT [Read Order]")
Investment Allowance claimed u/s. 32AC of Income Tax Act towards new asset shall not allowable if assessee already claim depreciation on New Asset: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that investment allowance claimed under Section 32AC of the Income tax Act,1961 towards the new asset should not be allowable if the...
![Investment Allowance claimed u/s. 32AC of Income Tax Act towards new asset shall not allowable if assessee already claim depreciation on New Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investment-Allowance-claimed-Income-Tax-Act-towards-new-asset-claim-depreciation-on-New-Asset-ITAT-TAXSCAN.jpg "Investment Allowance claimed u/s. 32AC of Income Tax Act towards new asset shall not allowable if assessee already claim depreciation on New Asset: ITAT [Read Order]")