Ipsita Das
![Date of Allotment Letter is Relevant for Determining FMV of Asset /flat: ITAT allows Assessees Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Date-of-Allotment-Letter-Allotment-Letter-Relevant-FMV-Asset-ITAT-taxscan.jpg "Date of Allotment Letter is Relevant for Determining FMV of Asset /flat: ITAT allows Assessees Appeal [Read Order]")
Date of Allotment Letter is Relevant for Determining FMV of Asset /flat: ITAT allows Assessee's Appeal [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the extent that the date of allotment letter is relevant for determining FMV of...
![Expenses involving Freebies to the Doctors to be Disallowed u/s 37 of Income Tax Act: ITAT Restores matter to AO for Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Expenses-involving-Freebies-to-the-Doctors-Freebies-to-the-Doctors-Income-Tax-Act-ITAT-Restores-matter-to-AO-Re-adjudication-taxscan.jpg "Expenses involving Freebies to the Doctors to be Disallowed u/s 37 of Income Tax Act: ITAT Restores matter to AO for Re-adjudication [Read Order]")
![Penalty Imposed by AO u/s 271(1)(b) Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Penalty-Imposed-by-AO-Income-Tax-Act-for-Non-Compliance-to-Notices-issued-Assessment-Limitation-Period-ITAT-Dismisses-Appeal-TAXSCAN.jpg "Penalty Imposed by AO u/s 271(1)(b) Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]")
![Dismissal of Registration u/s 12AB of Income Tax Act due to Absence of Assessee to Determine Genuineness of Activities carried out by the Charitable Trust: ITAT restores matter to CIT(E) for Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Dismissal-of-registration-Income-Tax-Act-absence-of-assessee-to-determine-genuineness-charitable-trust-ITAT-restores-matter-to-CITE-ITAT-re-adjudication-taxscan-1.jpg "Dismissal of Registration u/s 12AB of Income Tax Act due to Absence of Assessee to Determine Genuineness of Activities carried out by the Charitable Trust: ITAT restores matter to CIT(E) for Re-Adjudication [Read Order]")
Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the mere transfer of real estate and construction business is not a case of succession of the firm by a company...
![Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Mere-Transfer-Real-Estate-Construction-Business-Sale-Consideration-Capital-Gains-ITAT-taxscan.jpg "Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]")
ITAT Remits matter to AO to Determine Actual status of Payment of Consideration towards Purchase of Flat by Co-owners [Read Order]
The Raipur Bench of Income Tax appellate Tribunal (ITAT) held that on perusal of the statement of working and the supporting bank statements it is observed that the Home Loan of Rs. 69,00,000/- from...
![ITAT Remits matter to AO to Determine Actual status of Payment of Consideration towards Purchase of Flat by Co-owners [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Remits-matter-AO-to-Determine-Actual-status-Payment-of-Consideration-Purchase-of-Flat-by-Co-owners-TAXSCAN.jpg "ITAT Remits matter to AO to Determine Actual status of Payment of Consideration towards Purchase of Flat by Co-owners [Read Order]")
Land Sold by Assessee is Agricultural Land and doesn't qualify as "Capital Asset" in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that land sold by assessee is agricultural Land and did not qualify as “capital asset” in terms of Section 2(14)(iii) of the...
![Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Land-Sold-Assessee-Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Sets-aside-Income-Tax-TAXSCAN.jpg "Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]")
Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that according to the Income Tax Act, 1961 the consideration received upon terminating a call option agreement that foregoes the...
![Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Consideration-received-Termination-Call-Option-Agreement-Relinquishes-Purchase-of-Shares-Transfer-under-Income-Tax-Act-Taxable-Capital-Gains-ITAT-taxscan.jpg "Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]")
Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Children-Education-Helper-Uniform-attire-Reimbursement-Purview-Income-Tax-Act-ITAT-Deletes-Income-Tax-Addition-such-Perquisites-TAXSCAN.jpg "Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]")
Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-for-Deduction-Interest-Expenditure-Income-Tax-Act-Lawful-Assessee-Established-Borrowed-Funds-Interest-bearing-Advances-ITAT-TAXSCAN.jpg "Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]")
Disallowance of Income Tax deduction on Business Expenditure for Payment of Penalty to Clients/Customers for Breach of Contract: ITAT Remands Ex-parte Order to AO for Re-adjudication
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) remanded the ex-parte order to the files of Assessing Officer for re-adjudication in regards to the disallowance of deduction on business...
