Aparna. M
![Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Tribunal-Penalty-on-Concealment-of-Income-Penalty-Concealment-of-Income-Income-Tax-Act-ITAT-taxscan.jpg "Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]")
Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench in an appeal filed before it, held that once addition has been made on adhoc and...
![Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Foreign-Exchange-Fluctuation-loss-Business-of-Healthcare-Revenue-Expenditure-ITAT-TAXSCAN1.jpg "Foreign Exchange Fluctuation loss incurred in Business of Healthcare Cannot be allowed as Revenue Expenditure: ITAT [Read Order]")
![No denial of Section 10AA Deduction Merely on filing Audit Report in Form 56F during Assessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Section-10AA-Deduction-No-denial-of-Section-10AA-Deduction-Form-56F-Deduction-filing-Audit-Report-Audit-Report-Assessment-Proceedings-itat-taxscan.jpg "No denial of Section 10AA Deduction Merely on filing Audit Report in Form 56F during Assessment Proceedings: ITAT [Read Order]")
![Activities carried out by Rajasthan Para-Medical Council not Commercial, Liable for Registration u/S 12AA of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Rajasthan-Para-Medical-Council-Registration-Income-Tax-Act-ITAT-TAXSCAN.jpg "Activities carried out by Rajasthan Para-Medical Council not Commercial, Liable for Registration u/S 12AA of Income Tax Act: ITAT [Read Order]")
No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made to an undisclosed contract receipt from the business of purchase and sale of fish...
![No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Undisclosed-Contract-Receipt-Contract-Receipt-Business-of-Purchase-and-Sale-of-Fish-Purchase-and-Sale-of-Fish-ITAT-Deletes-the-Addition-ITAT-Taxscan.jpg "No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]")
![Revisional Power u/s 263 of Income Tax Act cannot be used to Reopen Assessment: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Revisional-Power-Income-Tax-Act-Reopen-Assessment-ITAT-Assessment-appeal-taxscan.jpg "Revisional Power u/s 263 of Income Tax Act cannot be used to Reopen Assessment: ITAT allows Appeal [Read Order]")
Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently while deleting the penalty imposed by the assessing officer held that computation of income resulting in a higher income is...
![Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Higher-Incom-ITAT-Penalty-TAXSCAN.jpg "Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]")
No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that disallowance made on the assumption of getting future tax free income from the investment made by the...
![No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Kolkata-Disallowance-Tax-Free-Income-assesee-Commissioner-of-Income-Tax-taxscan.jpg "No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]")
Interest Income Derived from Business Advances, Fixed Deposits shall be eligible for Profit and Gains Deduction u/s 80IB of the Act: ITAT grants Relief to Adani PortsÂ
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that interest income derived from business advances and fixed deposits is eligible for profit and gains ...
![Penalty Proceedings Initiated without Requisite Satisfaction: ITAT Quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Proceedings-Penalty-Penalty-Proceedings-Initiated-without-Requisite-Satisfaction-Requisite-Satisfaction-ITAT-Quashes-Penalty-ITAT-Taxscan.jpg "Penalty Proceedings Initiated without Requisite Satisfaction: ITAT Quashes Penalty [Read Order]")
Addition made on Foreign Travelling Expenses of Non-Resident Indian Director for Looking Affairs of Company Shall not be disallowed: ITAT sets aside Order
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that addition made on foreign travelling expenses of non-resident Indian directors for looking at affairs of company should...
