Fathima Karama A.M
![Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Creditworthiness-of-Parties-and-Genuineness-of-Transaction-Genuineness-of-Transaction-ITAT-Upholds-Addition-ITAT-Addition-Taxscan.jpg "Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]")
Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld addition under Section 68 of the Income Tax Act 1961 on failure to prove the...
![Finance Ministry Amends Exchange Rate of Turkish Lira w.e.f. 8th June 2023 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/06/Finance-Ministry-Turkish-Lira-Finance-Ministry-Amends-Exchange-Rate-of-Turkish-Lira-Exchange-Rate-taxscan.jpg "Finance Ministry Amends Exchange Rate of Turkish Lira w.e.f. 8th June 2023 [Read Notification]")
![Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Oil-Wells-Eligible-Depreciation-as-Plant-and-Machinery-ITAT-TAXSCAN.jpg "Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]")
![Exemption u/s 11 should not be Denied Merely on Account of Delay in Furnishing the Audit Report in Form No. 10B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Exemption-Delay-Furnishing-the-Audit-Report-Audit-Report-Form-No.-10B-ITAT-Taxscan.jpg "Exemption u/s 11 should not be Denied Merely on Account of Delay in Furnishing the Audit Report in Form No. 10B: ITAT [Read Order]")
![Moratorium Declared by NCLT in View of Insolvency & Bankruptcy Code has Overriding Effect on Tribunal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Moratorium-Declared-by-NCLT-Insolvency-Bankruptcy-Code-Tribunal-ITAT-TAXSCAN.jpg "Moratorium Declared by NCLT in View of Insolvency & Bankruptcy Code has Overriding Effect on Tribunal: ITAT [Read Order]")
ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance towards late deposit of employees’ contribution to Provident Fund or Employees State Insurance Corporation...
![ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Late-Deposit-of-Employees-Contribution-ITAT-Employee-Contribution-TAXSCAN.jpg "ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]")
Notice Received via Email Despite Form No. 35 Request for Physical Service of Notice: ITAT sets aside Ex-Parte Order [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has set aside the exparte order as the notice was received via email despite the request for physical service of notice in Form No.35. ...
![Notice Received via Email Despite Form No. 35 Request for Physical Service of Notice: ITAT sets aside Ex-Parte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/EMAIL-NOTICES-ITAT-Notice-Received-via-Email-Despite-TAXSCAN.jpg "Notice Received via Email Despite Form No. 35 Request for Physical Service of Notice: ITAT sets aside Ex-Parte Order [Read Order]")
Difference in Income Declaration by Assessee and AO does not Amount to Furnishing Inaccurate Particulars: ITAT deletes Penalty u/s 271(1)(c) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961 holding that the difference in income declaration by assessee...
![Difference in Income Declaration by Assessee and AO does not Amount to Furnishing Inaccurate Particulars: ITAT deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Difference-in-Income-Declaration-by-Assessee-and-AO-Amount-to-Furnishing-Inaccurate-Particulars-ITAT-deletes-Penalty-TAXSCAN.jpg "Difference in Income Declaration by Assessee and AO does not Amount to Furnishing Inaccurate Particulars: ITAT deletes Penalty u/s 271(1)(c) [Read Order]")
Relief to TATA Power: ITAT deletes Adjustment made Towards Technical Know-How Fees Despite Accepting Entity Level Margins [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to TATA Power deleting the adjustment made towards technical know-how fees despite accepting the entity-level margins. ...
![Relief to TATA Power: ITAT deletes Adjustment made Towards Technical Know-How Fees Despite Accepting Entity Level Margins [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Relief-to-TATA-Power-TATA-Power-ITAT-deletes-Adjustment-made-Towards-Technical-Know-How-Fees-ITAT-Entity-Level-Margins-Taxscan.jpg "Relief to TATA Power: ITAT deletes Adjustment made Towards Technical Know-How Fees Despite Accepting Entity Level Margins [Read Order]")
![No Penalty be Imposed in Cases Where “Reasonable Cause” is Successfully Pleaded: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Reasonable-Cause-Cases-ITAT-No-Penalty-Taxscan.jpg "No Penalty be Imposed in Cases Where “Reasonable Cause” is Successfully Pleaded: ITAT [Read Order]")
Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271(1)(c) of the Income Tax Act 1961, as the assessee had the bonafide belief of interest income on...
![Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-on-Bank-Deposits-Interest-Income-Bank-Deposits-Deduction-ITAT-ITAT-Deletes-Penalty-Penalty-taxscan.jpg "Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]")
Penalty can be Imposed when Income Surrendered During Survey Shown in Regular Income Tax Return filed Within Prescribed Time: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty could be imposed when the income surrendered during the survey had shown in the regular income-tax return which...
