Taxscan Team
![An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Amalgamated-Company-Depreciation-Goodwill-ITAT-taxscan.jpg "An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]")
An Amalgamated Company can claim Depreciation on Goodwill, No restriction u/s 32(1)(5): ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an Amalgamated company can claim depreciation on goodwill and there is no...
![Penalty on wrong CENVAT Credit availed solely based upon Statements cannot be confirmed unless stood the test u/s 9(D) of Central Excise Act: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Penalty-CENVAT-Credit-Statements-confirmed-Central-Excise-Act-CESTAT-TAXSCAN.jpg "Penalty on wrong CENVAT Credit availed solely based upon Statements cannot be confirmed unless stood the test u/s 9(D) of Central Excise Act: CESTAT [Read Order]")
![Bombay HC directs to Refund of amounts paid during the Course of the Investigation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Bombay-HC-Refund-Investigation-taxscan.jpg "Bombay HC directs to Refund of amounts paid during the Course of the Investigation [Read Order]")
Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]
While considering a bunch of appeals the Lucknow bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of unexplained cash based on third-party statements without allowing...
![Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/unexplained-cash-cross-examination-ITAT-taxscan.jpeg "Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]")
Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), New Delhi held that Addition u/s 43CA on absence of evidence for receipt of money in addition to sale consideration is invalid. The assessee Company, M/s....
![Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/absence-of-evidence-receipt-of-money-ITAT-taxscan.jpg "Addition u/s 43CA on absence of Evidence for Receipt of Money in addition to Sale Consideration is invalid: ITAT [Read Order]")
Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Income Tax Addition under section 68 of the Income Tax Act,1961 is not valid in the absence of any books of account. ...
![Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-u-s-68-absence-of-any-Books-of-Account-ITAT-Books-of-Account.jpg "Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]")
Supreme Court grants Reduction of Amount towards limited Compounding of Offence punishable u/s 135 of the Customs Act [Read Order]
The Supreme Court of India has granted a reduction of the amount towards limited compounding of an offence punishable under section 135 of the Customs Act,1962 The appellant, Chen Hsui Yun filed...
![Supreme Court grants Reduction of Amount towards limited Compounding of Offence punishable u/s 135 of the Customs Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Supreme-Court-Reduction-of-Amount-limited-Compounding-of-Offence-punishable-us-135-of-the-Customs-Act-Taxscan.jpg "Supreme Court grants Reduction of Amount towards limited Compounding of Offence punishable u/s 135 of the Customs Act [Read Order]")