Fathima Karama A.M
![Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-of-set-off-of-short-term-capital-loss-allowable-to-set-off-against-short-term-capital-gain-Income-Tax-Act-ITAT-TAXSCAN.jpg "Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]")
Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the disallowance of setoff of short-term capital loss is allowable to set-off...
![No Separate Agreement between Eshakthi and its Non-Resident US Subsidiary for Reimbursement of Expenses: ITAT Upholds Deletion of Disallowance u/s 40(a)(i) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Separate-Agreement-ITAT-No-Separate-Agreement-between-Eshakthi-and-its-Non-Resident-US-disallowance-taxscan.jpg "No Separate Agreement between Eshakthi and its Non-Resident US Subsidiary for Reimbursement of Expenses: ITAT Upholds Deletion of Disallowance u/s 40(a)(i) of Income Tax Act [Read Order]")
![TDS not Applicable on Discount Allowed to Retailers by Distributors on Sale of Prepaid Sim Cards/Mobile Recharge Card: ITAT deletes Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/TDS-not-Applicable-on-Discount-Allowed-Sale-of-Prepaid-Sim-Cards-Mobile-Recharge-Card-ITAT-Deletes-Disallowance-Income-Tax-Act-Discount-Allowed-to-Retailers-Income-Tax-taxscan.jpg "TDS not Applicable on Discount Allowed to Retailers by Distributors on Sale of Prepaid Sim Cards/Mobile Recharge Card: ITAT deletes Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]")
![Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as Deduction u/s 48 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Indexed-Improvement-Wholly-Exclusively-Transfer-Asset-Deduction-Income-Tax-Act-ITAT.jpg "Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as Deduction u/s 48 of Income Tax Act: ITAT [Read Order]")
![Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Computers-and-Computer-Peripherals-Eligible-for-Depreciation-ITAT-TAXSCAN.jpg "Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]")
Non-Compliance of E-notice due to non-Reaching to Concerned Officials as Employee Handling Matter left Company is a Reasonable Cause: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the non-compliance of e-notice due to non-reaching to the concerned officer as the employee handling the matter had left the...
![Non-Compliance of E-notice due to non-Reaching to Concerned Officials as Employee Handling Matter left Company is a Reasonable Cause: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-Compliance-of-E-notice-due-to-non-Reaching-to-Concerned-Officials-as-Employee-Handling-Matter-left-Company-is-a-Reasonable-Cause-ITAT-TAXSCAN.jpg "Non-Compliance of E-notice due to non-Reaching to Concerned Officials as Employee Handling Matter left Company is a Reasonable Cause: ITAT [Read Order]")
Principle of Res Judicata not Applicable to Income Tax Proceedings as Each Year is a Separate Event: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the principle of Res judicata would not be applicable to the income tax proceedings as each year is a separate event. The...
![Principle of Res Judicata not Applicable to Income Tax Proceedings as Each Year is a Separate Event: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Principle-of-Res-Judicata-Income-Tax-Proceedings-ITAT-Income-Tax-taxscan.jpg "Principle of Res Judicata not Applicable to Income Tax Proceedings as Each Year is a Separate Event: ITAT [Read Order]")
FTC cannot be Denied on Mere Late Filing of Form No.67 as per India-Tanzania DTAA: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the Foreign Tax Credit could not be denied on mere late filing of form No.67 as per India-Tanzania Double Taxation Avoidance...
![FTC cannot be Denied on Mere Late Filing of Form No.67 as per India-Tanzania DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/FTC-Denied-Mere-Late-Filing-Form-India-Tanzania-DTAA-ITAT-TAXSCAN.jpg "FTC cannot be Denied on Mere Late Filing of Form No.67 as per India-Tanzania DTAA: ITAT [Read Order]")
Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has set aside the revision order holding that the revision order passed without recording whether notice issued was served to assessee or not....
![Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revision-Passed-Recording-Whether-Notice-Assessee-Not-ITAT-Revision-Order-TAXSCAN.jpg "Revision order Passed without Recording Whether Notice Issued is Served to Assessee or Not: ITAT Sets Aside Revision Order [Read Order]")
Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the claim of deduction under Section 80P (2) of Income Tax Act 1961 by cooperative society could not be denied on breach of...
![Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Deduction-Income-Tax-Act-by-Co-op-Society-Deduction-Breach-of-Principle-of-Mutuality-Violation-of-Bye-Law-ITAT-taxscan.jpg "Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]")
Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding that the sale of stock of agricultural land could be treated as capital gain and not business receipt. In...
![Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Sale-of-Stock-Sale-Stock-Agricultural-Land-Capital-Gain-Business-Receipt-ITAT-taxscan.jpg "Sale of Stock of Agricultural Land can be Treated as Capital Gain not Business Receipt: ITAT deletes Addition [Read Order]")
![Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Extending-Corporate-Guarantee-AE-Constitutes-International-Transaction-ITAT-TAXSCAN.jpg "Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]")