Franklin Joshva
![PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-PCIT-Disallow-Expenditure-Disallow-Expenditure-Section-14A-Section-14A-PCIT-Revises-Non-Obstante-Clause-taxscan.jpg "PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]")
PCIT revises to disallow Expenditure u/s 14A: ITAT clarifies S.14A Non-Obstante Clause applies prospectively from 01.04.2022 [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 14A of the Income Tax Act, 1961 was a Non-Obstante clause that can be...
![AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Section-69A-unexplained-money-Taxpayer-submitted-paper-book-ITAT-Remands-Matter-Assessing-Officer-AO-taxscan.jpg "AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]")
![Non-Compliance Due to Notice for Seven AYs Issued in Short Period: ITAT Deletes 6 Penalties, Upholds Only One [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Non-Compliance-6-Penalties-Seven-AYs-ITAT-Deletes-ITAT-Surat-year-penalty-Short-Period-taxscan.jpg "Non-Compliance Due to Notice for Seven AYs Issued in Short Period: ITAT Deletes 6 Penalties, Upholds Only One [Read Order]")
![CIT(A) Fails to consider written submission and issued notice via email despite opted No in Form 35: ITAT Quashes Ex Parte order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-CITA-issued-notice-via-email-despite-ITAT-Quashes-ITAT-Quashes-Ex-Parte-order-taxscan.jpg "CIT(A) Fails to consider written submission and issued notice via email despite opted No in Form 35: ITAT Quashes Ex Parte order [Read Order]")
![AO Adds Rs. 2.37 Crore u/s 56(2)(vii)(b) for Valuation Discrepancy in Agricultural Land Purchase: ITAT directs to obtain DVO report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/agricultural-land-valuation.jpg "AO Adds Rs. 2.37 Crore u/s 56(2)(vii)(b) for Valuation Discrepancy in Agricultural Land Purchase: ITAT directs to obtain DVO report [Read Order]")
Cash Deposits from Business Income during Demonetization cannot be treated as Unexplained Entirely: ITAT upholds 20% of Additions due to Unknown Source
The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) held that the cash deposits made during demonetization out of business income cannot be treated as unexplained cash deposits completely....
Non-compliance due to notice issue only via email: ITAT Remands Cash deposits during Demonetization Matter [Read Order]
The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter concerning cash deposits made by the assessee during demonetization for fresh assessment considering the notice was...
![Non-compliance due to notice issue only via email: ITAT Remands Cash deposits during Demonetization Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/cash-deposit.jpeg "Non-compliance due to notice issue only via email: ITAT Remands Cash deposits during Demonetization Matter [Read Order]")
Procedural delay in filing form 67 cannot override objectives of DTAA: ITAT directs to grant FTC [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that procedural delay of filing form 67Â cannot override the objectives of DTAA and directed the Assessing officer to grant Foreign...
![Procedural delay in filing form 67 cannot override objectives of DTAA: ITAT directs to grant FTC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Delay-in-Filing-form-67-Foreign-tax-credit-taxscan.jpeg "Procedural delay in filing form 67 cannot override objectives of DTAA: ITAT directs to grant FTC [Read Order]")
Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within Prescribed Limits: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) held that contributions to approved superannuation fund were deductible if it was made within prescribed limits of under section 36(1)(iv)...
![Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within Prescribed Limits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within Prescribed Limits: ITAT [Read Order]")
Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that disallowance under section 14A of the Income Tax Act should be made only on exempt income-yielding investments. The tribunal...
![Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-section-14A-of-the-Income-Tax-Act-income-yielding-investments-taxscan.jpg "Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]")
Disallowance of TDS Credit on IMP Transfer Due to assessed in wrong AY: ITAT directs to give Credit in Relevant AY [Read Order]
The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) held that Tax deducted at source ( TDS ) credit on immovable property shall be allowed only for the relevant assessment year for which the...
![Disallowance of TDS Credit on IMP Transfer Due to assessed in wrong AY: ITAT directs to give Credit in Relevant AY [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-IMP-Transfer-Due-TDS-credit-Taxscan.jpg "Disallowance of TDS Credit on IMP Transfer Due to assessed in wrong AY: ITAT directs to give Credit in Relevant AY [Read Order]")
ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the Gross margin can be reduced to 6% from 12% which was determined by the Commissioner of Income Tax [Appeals] CIT(A),...
![ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Gross-Margin-ITAT-Reduces-Gross-Margin-Unaccounted-Cash-Cash-Receipts-to-6-from-12-Totality-of-Facts-ITAT-Ahmedabad-Income-Tax-taxscan.jpg "ITAT Reduces Gross Margin on Unaccounted Cash Receipts to 6% from 12% Set by CIT(A) Considering Totality of Facts [Read Order]")