![Onus on AO to Prove unreasonableness in Expenditure when invoking Section 40A(2)(b) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Onus-on-AO-Prove-unreasonableness-Expenditure-invoking-Income-Tax-Act-ITAT-taxscan.jpg "Onus on AO to Prove unreasonableness in Expenditure when invoking Section 40A(2)(b) of Income Tax Act: ITAT [Read Order]")
Onus on AO to Prove unreasonableness in Expenditure when invoking Section 40A(2)(b) of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Act, 1961 that for invoking Section 40A(2)(b)of the Income Tax Act, onus to prove the unreasonableness is on...
![AO incorrectly applied S. 37 on already disallowed Penalty: ITAT deletes Penalty to prevent Double Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AO-incorrectly-already-disallowed-Penalty-ITAT-Penalty-prevent-Double-Addition-taxscan.jpg "AO incorrectly applied S. 37 on already disallowed Penalty: ITAT deletes Penalty to prevent Double Addition [Read Order]")
![CBDT Circular on Monetary Limits in Filing Appeal/SLP Not Applicable on International Tax Appeal Involving DTAA: Punjab & Haryana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Punjab-and-Haryana-HC-Punjab-and-Haryana-High-Court-CBDT-Central-Board-Of-Direct-Taxes-CBDT-Circular-Monetary-Limits-in-Filing-taxscan.jpg "CBDT Circular on Monetary Limits in Filing Appeal/SLP Not Applicable on International Tax Appeal Involving DTAA: Punjab & Haryana HC [Read Order]")
![ITAT Rules VLCC Health Care Ltd.s Revenue-Sharing Model Not Subject to TDS, Dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Rules-TAXSCAN.jpg "ITAT Rules VLCC Health Care Ltd.s Revenue-Sharing Model Not Subject to TDS, Dismisses Revenues Appeal [Read Order]")
Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Grove's Matter [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favor of Palm Grove Beach Hotels Pvt. Ltd. that unsold flats held as stock-in-trade should be treated as business stock, not income...
![Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Groves Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Stock-in-Trade-Income-from-House-Property-Unsold-flats-not-house-property-taxscan.jpeg "Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Groves Matter [Read Order]")
Central Government Sets Arm's Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]
The Central Government, vide notification no. S.O. 4571(E) dated 18th October 2024 has issued a notification under the Income-tax Act, 1961, setting specific thresholds for determining arm’s length...
![Central Government Sets Arms Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Central-Government-Income-tax-Act-1961-Arms-Length-Price-Thresholds-TAXSCAN.jpg "Central Government Sets Arms Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]")
![CA’s Office on Fire: Bombay HC Condones 2-Day Delay in Income Tax Return Filing [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Bombay-HC-Bombay-High-Court-Condones-2-Day-Delay-Income-Tax-Return-Income-Tax-Return-Filing-Chartered-Accountant-CA-CAs-Office-on-Fire-taxscan.jpg "CA’s Office on Fire: Bombay HC Condones 2-Day Delay in Income Tax Return Filing [Read Order]")
ITAT sets aside Ex-Parte Order of CIT(A) for Fresh Hearing, upholds Principles of Natural Justice [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the principles of natural justice by setting aside the ex-parte order issued by the Commissioner of Income Tax (Appeals) [CIT(A)]. ...
![ITAT sets aside Ex-Parte Order of CIT(A) for Fresh Hearing, upholds Principles of Natural Justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-CITA-Commissioner-of-Income-Tax-Appeals-Ex-Parte-Order-Fresh-Hearing-ITAT-news-ITAT-updates-taxscan.jpg "ITAT sets aside Ex-Parte Order of CIT(A) for Fresh Hearing, upholds Principles of Natural Justice [Read Order]")
ITAT Condones Delay Due to Rectification Efforts and CA's Death, Restores Case to CIT(A) [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal(ITAT)condoned the delay in filing an appeal by the assessee due to ongoing rectification efforts and the death of its Chartered Accountant(CA) and...
![ITAT Condones Delay Due to Rectification Efforts and CAs Death, Restores Case to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-mumbai-Condones-Delay-ITAT-Condones-Delay-CAs-Death-CITA-TAXSCAN.jpg "ITAT Condones Delay Due to Rectification Efforts and CAs Death, Restores Case to CIT(A) [Read Order]")
ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) restored the appeal of the assessee to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh consideration, emphasizing the impact of...
![ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-COVID-19-COVID-19-pandemic-COVID-19-Impact-ITAT-Restores-Appeal-Taxscan.jpg "ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]")