Gayathri C.H
![ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-directs-to-Delete-Disallowance-Expenditure-incurred-towards-Exempt-Income-based-on-Book-Profits-ITAT-TAXSCAN.jpg "ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]")
ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]
The Income Tax Appellate Tribunal, Chennai Bench, has recently, in an appeal filed before it, directed to delete the disallowance of expenditure...
![Use of Vehicles by Directors / Employees as per Terms and Conditions of Employment is not Personal use: ITAT sets aside Disallowance of Vehicle Expenses Incurred [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Use-of-Vehicles-by-Directors-Terms-and-Conditions-of-Employment-Terms-and-Conditions-Employment-Personal-use-Employment-is-not-Personal-use-ITAT-Disallowance-of-Vehicle-Expenses-Disallowance-taxscan-1.jpg "Use of Vehicles by Directors / Employees as per Terms and Conditions of Employment is not Personal use: ITAT sets aside Disallowance of Vehicle Expenses Incurred [Read Order]")
![Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Lack-of-Jurisdiction-Absence-of-Incriminating-Materials-ITAT-dismisses-Revenues-Appeal-TAXSCAN.jpg "Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]")
![Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deduction-Employees-Share-in-Relevant-Funds-ITAT-Employees-Share-Relevant-Funds-taxscan.jpg "Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]")
![Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Receipt-under-TUFS-Scheme-Capital-in-Nature-needs-to-be-Excluded-While-Working-out-Book-Profits-ITAT-TAXSCAN.jpg "Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]")
Matters Pending Before CIT(A) for Adjudication cannot be Disputed in Proceedings u/s 263: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has recently, in an appeal filed before it, held that matters pending before the CIT(A) for adjudication cannot be disputed in the proceedings...
![Matters Pending Before CIT(A) for Adjudication cannot be Disputed in Proceedings u/s 263: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/CITA-Matters-Pending-Before-CITA-for-Adjudication-Adjudication-Proceedings-ITAT-Taxscan.jpg "Matters Pending Before CIT(A) for Adjudication cannot be Disputed in Proceedings u/s 263: ITAT [Read Order]")
Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that penalty under Section 271(1)(c) of the Income Tax Act is not leviable when no...
![Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Inaccurate-Particulars-of-Income-are-Furnished-by-the-Assessee-ITAT-TAXSCAN.jpg "Penalty u/s 271(1)(c) not Leviable When no Inaccurate Particulars of Income are Furnished by the Assessee: ITAT [Read Order]")
No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that no penalty under section 271 (1) can be imposed when income surrendered by the...
![No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/when-Income-Surrendered-Assessee-During-Survey-in-Regular-Income-Tax-Return-Filed-within-Prescribed-Time-ITAT-TAXSCAN.jpg "No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]")
![Interest Income from FD is Eligible for Deduction u/s 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-from-FD-Interest-Income-FD-Deduction-ITAT-taxscan.jpg "Interest Income from FD is Eligible for Deduction u/s 10AA: ITAT [Read Order]")
Dept. Fails to Submit Contradictory view to CIT(A)'s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on failure of the department to submit a contradict view to the CIT(A)’s decision, confirmed the...
![Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Dept.-Fails-to-Submit-Contradictory-view-Decision-ITAT-allows-Depreciation-Expenses-on-Crates-ITAT-TAXSCAN.jpg "Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]")
Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, reduced the disallowance from 10% to 2%, on finding that operating expenses is unverified and...
![Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Unverified-and-Excessive-Operating-Expenses-not-Allowable-us-37-of-Income-Tax-Act-ITAT-Reduces-Disallowance-TAXSCAN.jpg "Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]")
Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has recently, in an appeal filed before it, on finding that unexplained money under section 69A was received back through banking channel as...
![Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Unexplained-Money-Banking-Channel-sale-Consideration-of-Shares-ITAT-Upholds-Addition-ITAT-Income-Tax-taxscan.jpg "Unexplained Money u/s 69A Received Back through Banking Channel as Sale Consideration of Shares: ITAT Upholds Addition u/s 115BBE [Read Order]")