Sunayana Dhal
![Interest Received Loan given from OD not Taxable: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Interest-Received-Loan-given-from-OD-not-Taxable-ITAT-Deletes-Addition-TAXSCAN.jpg "Interest Received Loan given from OD not Taxable: ITAT Deletes Addition [Read Order]")
Interest Received Loan given from OD not Taxable: ITAT Deletes Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that interest received from a loan given from the overdraft is not taxable hence...
![Internal CUP is the most appropriate method for Undertaking the Determination of Arm’s Length Price: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Internal-CUP-is-the-most-appropriate-method-for-Undertaking-the-Determination-of-Arms-Length-Price-ITAT-TAXSCAN.jpg "Internal CUP is the most appropriate method for Undertaking the Determination of Arm’s Length Price: ITAT [Read Order]")
![Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-received-from-letting-out-of-Property-on-a-Commercial-basis-qualifies-as-Business-Income-ITAT-TAXSCAN.jpg "Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]")
![No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-income-tax-Order-No-Order-No-Order-shall-be-passed-without-affording-Reasonable-Opportunity-taxscan.jpg "No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]")
![Mere Estimate of Cost by DVO doesnt Constitute Material to Concealment: ITAT deletes Penalty imposed on Account of Difference of Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Estimate-of-Cost-by-DVO-doesnt-Constitute-Material-to-Concealment-ITAT-deletes-Penalty-imposed-on-Account-of-Difference-of-Valuation-TAXSCAN.jpg "Mere Estimate of Cost by DVO doesnt Constitute Material to Concealment: ITAT deletes Penalty imposed on Account of Difference of Valuation [Read Order]")
Assessee shall not be Penalized for the Action of the Tax Consultant in claiming an Excessive Refund in Return of Income: ITAT [Read Order]
The Bangalore bench of the Income tax Appellate Tribunal (ITAT) held that the assessee shall not be penalized for the actions of the tax consultant in claiming an excessive refund in return of...
![Assessee shall not be Penalized for the Action of the Tax Consultant in claiming an Excessive Refund in Return of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Assessee-Penalized-Action-Tax-Consultant-claiming-Excessive-Refund-Return-Income-ITAT-TAXSCAN-1.jpg "Assessee shall not be Penalized for the Action of the Tax Consultant in claiming an Excessive Refund in Return of Income: ITAT [Read Order]")
Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that error in the sale of share transaction made by the broker of the assessee hence deleted the addition on client code...
![Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Error-Sale-Share-Transaction-Broker-Assessee-ITAT-Addition-Client-Code-Modification-TAXSCAN.jpg "Error In Sale of Share Transaction made by Broker of Assessee: ITAT Deletes Addition on Client Code Modification [Read Order]")
Contributions received for Charitable Purpose can't be treated as Income u/s 2(24) (iia) of Income Tax Act: ITAT allows Appeal [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the contributions received for any charitable purposes cannot be treated as income under Section 2(24) (iia) of the...
![Contributions received for Charitable Purpose cant be treated as Income u/s 2(24) (iia) of Income Tax Act: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Contributions-received-for-Charitable-Purpose-treated-as-Income-Income-Tax-Act-ITAT-allows-Appeal-TAXSCAN.jpg "Contributions received for Charitable Purpose cant be treated as Income u/s 2(24) (iia) of Income Tax Act: ITAT allows Appeal [Read Order]")
Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of Section 44AB of the Income Tax Act, 1961 is not applicable to income which is treated as income from...
![Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-from-Other-Sources-Income-ITAT-Provisions-Income-which-are-Treated-as-Income-from-Other-Sources-Taxscan.jpg "Provisions of Section 44AB not Applicable to Income which are Treated as Income from Other Sources: ITAT [Read Order]")
AO can't Travel beyond his Jurisdiction inorder to Invoke the Provision of Section 40A(3) of the Income Tax Act: ITAT quashes Order of AO [Read Order]
The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer cannot travel beyond his jurisdiction in order to invoke the provision of section 40A(3) of the...
![AO cant Travel beyond his Jurisdiction inorder to Invoke the Provision of Section 40A(3) of the Income Tax Act: ITAT quashes Order of AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Travel-beyond-his-Jurisdiction-inorder-to-Invoke-the-Provision-of-e-Income-Tax-Act-ITAT-quashes-Order-of-AO-.jpg "AO cant Travel beyond his Jurisdiction inorder to Invoke the Provision of Section 40A(3) of the Income Tax Act: ITAT quashes Order of AO [Read Order]")
Voluntary Contribution received towards Corpus by an Unregistered Trust u/s 12A is Capital Receipt and doesn't amount to Tax: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that voluntary contribution received towards corpus by an unregistered trust under Section 12A of the Income Tax Act, 1961 is a...
![Voluntary Contribution received towards Corpus by an Unregistered Trust u/s 12A is Capital Receipt and doesnt amount to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Voluntary-Contribution-Corpus-Unregistered-Trust-Capital-Receipt-amount-Tax-ITAT-TAXSCAN.jpg "Voluntary Contribution received towards Corpus by an Unregistered Trust u/s 12A is Capital Receipt and doesnt amount to Tax: ITAT [Read Order]")
Non-filing of the Audit report along with Return of Income is a Procedural Omission and can't be claimed as an Exception: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAI) held that the non-filing of the audit report along with the return of income is a procedural omission and can’t be claimed as an...
![Non-filing of the Audit report along with Return of Income is a Procedural Omission and cant be claimed as an Exception: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Non-filing-of-the-Audit-report-Return-of-Income-is-a-Procedural-Omission-Audit-report-Return-of-Income-ITAT-taxscan.jpg "Non-filing of the Audit report along with Return of Income is a Procedural Omission and cant be claimed as an Exception: ITAT [Read Order]")