Taxscan Team
![ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ITAT-Income-Tax-Deduction-Expenditure-Goods-Carriages-taken-Hire-TAXSCAN.jpg "ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]")
ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench allowed deduction of expenditure on goods carriages taken on hire. The appeal has been...
![Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/MUFG-Bank-ITAT-Salary-paid-expatriate-Employees-Indian-branches-Deduction-taxscan.jpg "Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]")
![Madras HC grants benefit of SHIS to Thermoplastic High-Pressure Hoses [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Madras-HC-SHIS-Thermoplastic-High-Pressure-Hoses-taxscan.jpg "Madras HC grants benefit of SHIS to Thermoplastic High-Pressure Hoses [Read Order]")
![Section 9 application under IBC can be rejected when there is pre-existing dispute: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/IBC-pre-existing-dispute-NCLAT-taxscan.jpg "Section 9 application under IBC can be rejected when there is pre-existing dispute: NCLAT [Read Order]")
![No Limitation under Income Tax Act for filing application for condonation of delay: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Act-application-condonation-Kerala-HC-TAXSCAN.jpg "No Limitation under Income Tax Act for filing application for condonation of delay: Kerala HC [Read Order]")
Addition of Unexplained Investment of Land is permissible in the absence of explanation by Cash Flow Statement: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of unexplained investment of land is permissible in the absence of explanation by cash flow statement. ...
![Addition of Unexplained Investment of Land is permissible in the absence of explanation by Cash Flow Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Unexplained-Investment-of-Land-Cash-Flow-Statement-ITAT-taxscan.jpg "Addition of Unexplained Investment of Land is permissible in the absence of explanation by Cash Flow Statement: ITAT [Read Order]")
Non specification on primary facts to be disclosed: ITAT invalidates Re opening of Re-assessment u/s 147 [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), New Delhi invalidated re opening of re assessment under Section 147 of the Income Tax Act, 1961 as there was Non specification on primary facts to be...
![Non specification on primary facts to be disclosed: ITAT invalidates Re opening of Re-assessment u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/primary-facts-ITAT-Re-assessment-taxscan.jpg "Non specification on primary facts to be disclosed: ITAT invalidates Re opening of Re-assessment u/s 147 [Read Order]")
![No TDS can be deducted on Roaming Charges u/s 194J: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/TDS-deducted-on-Roaming-Charges-ITAT-TAXSCAN.jpg "No TDS can be deducted on Roaming Charges u/s 194J: ITAT [Read Order]")
![Training Expenses that do not result in New Income is not Capital Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Training-Expenses-Income-Capital-Expenditure-ITAT-taxscan.jpg "Training Expenses that do not result in New Income is not Capital Expenditure: ITAT [Read Order]")
No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held in partial relief to the assessee that, it was erroneous to invoke Section 40A(3) of the Income Tax Act, 1961 and disallow...
![No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/material-disallowance-ITAT-AO-Purchases-TAXSCAN.jpg "No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]")
CIT to Exercise Revisional Power u/s 263 only When AO's Order is Erroneous and Prejudicial to the Interest of the Revenue: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has recently, in an appeal filed before it, held that the Commissioner of Income Tax (CIT), shall exercise revisional power under section...
![CIT to Exercise Revisional Power u/s 263 only When AOs Order is Erroneous and Prejudicial to the Interest of the Revenue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/CIT-Order-Interest-Revenue-ITAT-taxscan.jpg "CIT to Exercise Revisional Power u/s 263 only When AOs Order is Erroneous and Prejudicial to the Interest of the Revenue: ITAT [Read Order]")
SIDBI can't take Possession of Corporate Debtor's Assets Which are not Subject Matter of Litigation to Facilitate Corporate Insolvency Resolution Process: NCLT
The National Company Law Tribunal (NCLT) of Chandigarh Bench held thatthe Small Industries Development Bank of India (SIDBI), the financial creditorcan't take Possession of Corporate Debtor's Assets...
