Taxscan Team
ITAT Weekly Round-Up
This weekly summary analyses the major Income Tax Appellate Tribunal (ITAT) stories that were covered by Taxscan.in the week before, from April 23rd...
![Subscription Fee Received by American Chemical Society from Indian Customers cannot be Treated as Royalty under Indo-US Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Subscription-Fee-American-Chemical-Society-Indian-Customers-Customers-Royalty-Indo-US-Treaty-ITAT-Taxscan.jpg "Subscription Fee Received by American Chemical Society from Indian Customers cannot be Treated as Royalty under Indo-US Treaty: ITAT [Read Order]")
![NFAC cannot Deny Deductions Claimed in Appeal for want of Revised Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/NFAC-Deductions-Claim-Appeal-Revised-Return-ITAT-Income-Tax-Tax-taxscan.jpg "NFAC cannot Deny Deductions Claimed in Appeal for want of Revised Return: ITAT [Read Order]")
Compensation from Builder for Hardship faced during Vacating Flat for Redevelopment is Capital Receipt, Not Taxable: ITAT [Read Order]
In an assessee-friendly ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the compensation received from the builder for facing hardships on vacating the falt for...
![Compensation from Builder for Hardship faced during Vacating Flat for Redevelopment is Capital Receipt, Not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Compensation-from-Builder-Vacating-Flat-for-Redevelopment-Capital-Receipt-ITAT-TAXSCAN.jpg "Compensation from Builder for Hardship faced during Vacating Flat for Redevelopment is Capital Receipt, Not Taxable: ITAT [Read Order]")
Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the ex-gratia payment received by the employee on voluntary retirement cannot be taxed as “Profit in lieu of Salary” under...
![Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/assessmentEx-Gratia-Payment-Payment-Ex-Gratia-Payment-Received-on-Voluntary-Retirement-Voluntary-Retirement-Profit-in-Lieu-of-Salary-Profit-ITAT-ITAT-Deletes-Addition-Ex-Gratia-Payment-Received-Taxscan.jpg "Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]")
Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 56(2)(viia) of the Income Tax Act, 1961 is not applicable in a case where there is a mere...
![Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Sale-Price-Shares-FMV-Invoke-Income-Tax-Act-ITAT-TAXSCAN.jpg "Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]")
Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has deleted an addition under section 115BBE of the Income Tax Act, 1961 considering the fact that the cash deposit during demonetization was out...
![Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Cash-Deposit-Demonetization-Alimony-from-Husband-Alimony-ITAT-Addition-ITAT-deletes-Addition-Income-Tax-Act-taxscan.jpg "Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]")
Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has allowed the assessee-Company deduction under section 37 of the Income Tax Act, 1961 in respect of foreign travel expenses of an employee,...
![Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Company-Deduction-Foreign-Travel-Expenses-Employee-Relative-of-Director-Employee-and-Relative-of-Director-ITAT-Income-Tax-taxscan.jpg "Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]")
