Aparna. M
![ITAT upholds Disallowance on Account of Failure to prove Long Term Capital Loss arises from Sale of Share Of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-disallowance-account-Failure-prove-Long-Term-Capital-Loss-Sale-Share-Company-taxscan.jpg "ITAT upholds Disallowance on Account of Failure to prove Long Term Capital Loss arises from Sale of Share Of Company [Read Order]")
ITAT upholds Disallowance on Account of Failure to prove Long Term Capital Loss arises from Sale of Share Of Company [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench upheld the disallowance made by the assessing officer on account of failure to prove long...
![Issuance of notice u/s 148 of Income Tax Act for Reassessment shall not be made without Reasonable Belief: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Issuance-notice-Income-Tax-Act-Reassessment-Reasonable-Belief-ITAT-taxscan.jpg "Issuance of notice u/s 148 of Income Tax Act for Reassessment shall not be made without Reasonable Belief: ITAT [Read Order]")
![No addition can be made on basis of Notional Interest due to failure to Receive Interest for loan Advances by assessee Finance Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Notional-Interest-failure-to-receive-Interest-for-loan-failure-to-receive-Interest-Interest-for-loan-loan-Interest-Finance-Company-ITAT-Taxscan.jpg "No addition can be made on basis of Notional Interest due to failure to Receive Interest for loan Advances by assessee Finance Company: ITAT [Read Order]")
![ITAT deletes Penalty Imposed u/s 271AAB of Income Tax Act on account of Cash received by Minor Grandson on Birthday during Search Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-deletes-Penalty-Imposed-Income-Tax-Act-on-account-of-Cash-received-by-Minor-Grandson-On-Birthday-during-Search-Proceedings-TAXSCAN.jpg "ITAT deletes Penalty Imposed u/s 271AAB of Income Tax Act on account of Cash received by Minor Grandson on Birthday during Search Proceedings [Read Order]")
![Repairs and Maintenance expenses of Transport Segment were incurred by its own vehicles and not on Hired Vehicles: ITAT deletes 20% Ad-hoc Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Repairs-Maintenance-expenses-Repairs-and-Maintenance-expenses-Repairs-and-Maintenance-expenses-of-Transport-Segment-Transport-Segment.jpg "Repairs and Maintenance expenses of Transport Segment were incurred by its own vehicles and not on Hired Vehicles: ITAT deletes 20% Ad-hoc Disallowance [Read Order]")
Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that Income Tax is not leviable on award received on the compulsory acquisition of the agricultural land of partnership firm. The...
![Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Tax-Award-received-on-Compulsory-Acquisition-of-Agricultural-Land-of-Partnership-Firm-ITAT-Agricultural-Land-of-Partnership-Firm-Award-received-Agricultural-Land-Partnership-Firm-taxscan.jpg "Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]")
Expenses incurred for Repair and Maintenance of Damaged Assets on Fire are Capital Expenditure: ITAT upholds Disallowance [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the expenses incurred for repair and maintenance of damaged assets on fire are capital expenditure. Hence, the bench upholds the...
![Expenses incurred for Repair and Maintenance of Damaged Assets on Fire are Capital Expenditure: ITAT upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Expenses-incurred-for-Repair-and-Maintenance-of-Damaged-Assets-on-Fire-are-Capital-Expenditure-ITAT-upholds-disallowance-TAXSCAN.jpg "Expenses incurred for Repair and Maintenance of Damaged Assets on Fire are Capital Expenditure: ITAT upholds Disallowance [Read Order]")
ITAT deletes 5% Disallowance out of Repair and Maintenance Expenses claimed under Sanitation Segment [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench deleted the 5% disallowance made by the assessing officer out of repair and maintenance expenses claimed under the sanitation segment . The...
![ITAT deletes 5% Disallowance out of Repair and Maintenance Expenses claimed under Sanitation Segment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-ITAT-deletes-deletes-disallowance-ITAT-deletes-5-disallowance-ITAT-deletes-5-disallowance-out-of-repair-repair-taxscan.jpg "ITAT deletes 5% Disallowance out of Repair and Maintenance Expenses claimed under Sanitation Segment [Read Order]")
TDS Benefit shall be Allowed in Year under Consideration for which such Income is Assessable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench Ruled that the Tax Deduction at Source should be allowed in a year under consideration for which such income is assessable. Ignitive Digitech...
![TDS Benefit shall be Allowed in Year under Consideration for which such Income is Assessable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/TDS-TDS-Benefit-shall-be-Allowed-in-Year-under-Consideration-Consideration-Income-Assessable-ITAT-Taxscan.jpg "TDS Benefit shall be Allowed in Year under Consideration for which such Income is Assessable: ITAT [Read Order]")
No Income Tax on Partner for Share in Profit of Partnership Firm: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench held that no income tax on partners for share in profit of partnership firm. Therefore the bench deleted the addition made under Section 68 of...
![No Income Tax on Partner for Share in Profit of Partnership Firm: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Income-Tax-on-Partner-for-Share-in-Profit-of-Partnership-Firm-ITAT-Income-Tax-Act-TAXSCAN.jpg "No Income Tax on Partner for Share in Profit of Partnership Firm: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that expenses incurred for repairing machines for the running of petrol pump business are revenue in nature. Akram Hossain Mullick, the...
![Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Expenses-incurred-for-repairing-machines-repairing-machines-running-petrol-pump-business-are-revenue-nature-ITAT-deletes-penalty-petrol-pump-business-taxscan.jpg "Expenses incurred for Repairing Machines for Running Petrol Pump Business are Revenue nature: ITAT deletes Penalty [Read Order]")
Personal Hearing cannot be Denied to Taxpayer on ground of Mere Mentioning "No" in GSTDRC-06: Orissa HC Allows Re-Hearing [Read Order]
In the significant case, the Orissa High Court held that personal hearing could not be denied to taxpayers on grounds of mere mentioning “No” in GST DRC-06. Hence the court directed the adjudication...
![Personal Hearing cannot be Denied to Taxpayer on ground of Mere Mentioning No in GSTDRC-06: Orissa HC Allows Re-Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Personal-Hearing-Denied-Taxpayer-ground-Mere-Mentioning-Orissa-HC-Re-Hearing-taxscan.jpg "Personal Hearing cannot be Denied to Taxpayer on ground of Mere Mentioning No in GSTDRC-06: Orissa HC Allows Re-Hearing [Read Order]")