Fathima Karama A.M
![No Transfer of Asset During year and no Determination of Short Term Capital Gain and Loss: ITAT allows Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/transfer-of-assetc-short-term-capital-gain-Short-term-Capital-loss-ITAT-allows-depreciation-taxscan.jpg "No Transfer of Asset During year and no Determination of Short Term Capital Gain and Loss: ITAT allows Depreciation [Read Order]")
No Transfer of Asset During year and no Determination of Short Term Capital Gain and Loss: ITAT allows Depreciation [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the depreciation as no transfer of asset was taken place during the year under...
![Rectification in Revised Return allowable Despite Late Filing of Original Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Rectification-in-Revised-Return-Revised-Return-allowable-Despite-Late-Filing-of-Original-Return-Revised-Return-Despite-Late-Filing-of-Original-Return-Original-Return-Late-Filing-ITAT-Taxscan.jpg "Rectification in Revised Return allowable Despite Late Filing of Original Return: ITAT [Read Order]")
![A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/A-Mere-Right-to-Sue-Not-Subject-to-Income-Tax-under-Capital-Gains-Not-Transferable-ITAT-TAXSCAN.jpg "A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]")
![Addition not Sustainable u/s 153C without Incriminating Material found during Search and Seizure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-Incriminating-Material-found-during-Search-and-Seizure-Incriminating-Material-Search-and-Seizure-ITAT-taxscan.jpg "Addition not Sustainable u/s 153C without Incriminating Material found during Search and Seizure: ITAT [Read Order]")
![Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Fair-market-value-determined-by-registered-valuers-for-computation-of-taxable-value-should-not-be-ignored-ITAT-TAXSCAN.jpg "Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]")
Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to Finesse global company holding that the business promotion expenses for improving visibility of the brand should not be...
![Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Relief-to-Finesse-International-Business-Promotion-Expenses-for-Improving-Visibility-of-Brand-Should-Not-Be-Treated-Personal-rules-ITAT-TAXSCAN.jpg "Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]")
![Sham Transaction between Associated Enterprises: ITAT Disallows Proprietary Business Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sham-Transaction-between-Associated-Enterprises-ITAT-Disallows-Proprietary-Business-Loss-Sham-Transaction-Associated-Enterprises-ITAT-Proprietary-Business-Loss-Business-Loss-Loss-Taxscan.jpg "Sham Transaction between Associated Enterprises: ITAT Disallows Proprietary Business Loss [Read Order]")
Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the depreciation to plant and machinery installed for pilot projects which were added to existing blocks. The assessee, Indorama...
![Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Depreciation-Depreciation-Allowable-to-Plant-and-Machinery-Pilot-Project-Pilot-Project-Added-to-Existing-Block-ITAT-taxscan.jpg "Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]")
![Income Tax Addition cannot be Made Merely on Retracted Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Addition-Income-Tax-Retracted-Statement-ITAT-Statement-taxscan.jpg "Income Tax Addition cannot be Made Merely on Retracted Statement: ITAT [Read Order]")
Chronic Disease Resulted in Ex parte Assessment and Ex parte Appellate Order: ITAT Directs Denovo Adjudication [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed for denovo adjudication on finding that chronic disease of the assessee had resulted in ex parte assessment and ex parte appellate...
![Chronic Disease Resulted in Ex parte Assessment and Ex parte Appellate Order: ITAT Directs Denovo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Chronic-Disease-Resulted-in-Ex-parte-Assessment-and-Ex-parte-Appellate-Order-Chronic-Disease-Resulted-in-Ex-parte-Assessment-Ex-parte-Appellate-Order-TAT-Directs-Denovo-Adjudication-ITAT-taxscan-.jpg "Chronic Disease Resulted in Ex parte Assessment and Ex parte Appellate Order: ITAT Directs Denovo Adjudication [Read Order]")
Interest Income from the Investments Made out of Reserve Fund Exempt u/s 80P(2)(a)(i): ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that interest income arising from the investment made out of reserve fund is exempted under Section 80P(2)(a)(i) of the Income Tax...
![Interest Income from the Investments Made out of Reserve Fund Exempt u/s 80P(2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-from-the-Investments-Made-out-of-Reserve-Fund-Interest-Income-Investments-Reserve-Fund-Income-ITAT-Taxscan.jpg "Interest Income from the Investments Made out of Reserve Fund Exempt u/s 80P(2)(a)(i): ITAT [Read Order]")
![Disallowance u/s 14A of the Income Tax Act cannot Exceed Exempt Income: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-Income-Tax-Act-Exceed-Exempt-Income-Exempt-Income-ITAT-Taxscan.jpg "Disallowance u/s 14A of the Income Tax Act cannot Exceed Exempt Income: ITATÂ [Read Order]")