Sunayana Dhal
![Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Weighted-Deduction-Income-Tax-Act-when-DSIR-Form-3CM-ITAT-taxscan.jpg "Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]")
Weighted Deduction allowable u/s 35(2AB) of Income Tax Act when DSIR has Passed an Order Granting Approval in Form 3CM: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the weighted deduction is allowable under Section 35(2AB) of the Income Tax...
![PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/revisionary-jurisdiction-Evidences-produced-by-Assessee-ITAT-PCIT-taxscan.jpg "PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]")
![Addition u/s 68 of Income Tax Act shall be made when Identity, Creditworthiness, and Genuineness of transactions are not satisfactorily explained by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Income-Tax-Act-Identity-Creditworthiness-Genuineness-of-transactions-satisfactorily-explained-by-Assessee-ITAT.jpg "Addition u/s 68 of Income Tax Act shall be made when Identity, Creditworthiness, and Genuineness of transactions are not satisfactorily explained by Assessee: ITAT [Read Order]")
Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the short-term capital gain disposed off within a short span of time will not justify the gain to be treated as business...
![Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Short-term-Capital-Gain-Capital-Gain-Short-Span-of-time-Short-term-Capital-Gain-disposed-off-within-a-Short-Span-of-time-will-not-justify-the-gain-to-be-treated-as-Business-Income.jpg "Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]")
TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Tax Deducted at Source (TDS) deducted in the hands of the transferor company shall belong to the transferrer company...
![TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/TDS-deducted-Transferor-Company-shall-belong-to-Transferrer-Company-Amalgamation-Scheme-is-approved-by-HC-ITAT-TAXSCAN.jpg "TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]")
Moulds owned by Philips India as a part of block assets for purpose of Business are entitled to Depreciation at 30%: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the moulds owned by Philips India as a part of the block assets for the purpose of business are entitled to depreciation at...
![Moulds owned by Philips India as a part of block assets for purpose of Business are entitled to Depreciation at 30%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Moulds-Philips-India-block-assets-purpose-Business-entitled-Depreciation-ITAT-TAXSCAN.jpg "Moulds owned by Philips India as a part of block assets for purpose of Business are entitled to Depreciation at 30%: ITAT [Read Order]")
Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]
The Hyderabad bench of the Income Ta Appellate Tribunal (ITAT) held that the deduction under Section 80G of the Income Tax Act, 1961 can be claimed when the assessee satisfies all the conditions. ...
![Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-Income-Tax-Act-Assessee-Conditions-ITAT-taxscan.jpg "Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]")
Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which can't be used further shall be allowable as Business Expenditure u/s 37(1): ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the unadjusted CENVAT credit left on the closure of the manufacturing unit which cannot be used further shall be allowable as...
![Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which cant be used further shall be allowable as Business Expenditure u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/CENVAT-Credit-Manufacturing-Unit-Business-Expenditure-ITAT-taxscan.jpg "Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which cant be used further shall be allowable as Business Expenditure u/s 37(1): ITAT [Read Order]")
Deeming Provision of Section 69 doesn't apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that the deeming provision of Section 69 of the Income Tax Act, 1961 doesn’t apply when the assessee provides a proper...
![Deeming Provision of Section 69 doesnt apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deeming-Provision-Assessee-proper-Explanation-Unrecorded-Sale-ITAT-TAXSCAN.jpg "Deeming Provision of Section 69 doesnt apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]")
