![ITAT deletes Adjustment on Guarantee Fee Payment, Upholds Judicial Consistency [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Itat-Judicial-Consistency-Guarantee-Fee-Guarantee-Fee-Payment-income-tax-income-tax-news-itat-on-Guarantee-Fee-Payment-tax-news-itat-Ahmedabad-taxscan.jpg "ITAT deletes Adjustment on Guarantee Fee Payment, Upholds Judicial Consistency [Read Order]")
ITAT deletes Adjustment on Guarantee Fee Payment, Upholds Judicial Consistency [Read Order]
Recently, Income Tax Appellate Tribunal ( ITAT ) Ahmedabad ruled in favour of the appellant in an appeal filed against the order of the Assessment...
![HC cannot sit as an Appellate authority Over an Order in Favour of Income Tax Dept passed by a coordinate Bench: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Orissa-High-Court-High-Court-Appellate-authority-Income-Tax-Income-Tax-Dept-Income-tax-department-income-tax-updates-TAXSCAN.jpg "HC cannot sit as an Appellate authority Over an Order in Favour of Income Tax Dept passed by a coordinate Bench: Orissa HC [Read Order]")
![Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Penalty-under-section-271B-ITAT-Audit-Report-Income-Tax-Appellate-Tribunal-under-section-271-income-tax-news-ITAT-Chennai-taxscan-1.jpg "Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]")
![ITAT allows Rs. 52L Deduction w.r.t. Traded Goods Written off on Account of Damaged Stock [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Delhi-ITAT-allows-Rs.-52L-Deduction-Damaged-Stock-Traded-Goods-Written-taxscan.jpg "ITAT allows Rs. 52L Deduction w.r.t. Traded Goods Written off on Account of Damaged Stock [Read Order]")
No Service Tax on payments for Certification Services rendered by Foreign Entities in absence of fixed place of business: ITAT [Read Order]
In a recent case, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that the services rendered for product certification, which include evaluating technical quality and issuing...
![No Service Tax on payments for Certification Services rendered by Foreign Entities in absence of fixed place of business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Ahmedabad-Service-tax-exemption-Service-tax-Foreign-entities-Tax-on-foreign-certification-services-taxscan.jpg "No Service Tax on payments for Certification Services rendered by Foreign Entities in absence of fixed place of business: ITAT [Read Order]")
Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]
The Jharkhand High Court dismissed the department's appeal, ruling that a delayed condonation application not filed with the appeal memo cannot rectify defects if submitted later. The department...
![Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Jharkhand-High-Court-Jharkhand-HC-Jharkhand-HC-dismisses-Income-Tax-Income-Tax-Dept-Appeal-taxscan.webp "Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]")
![ITAT deletes 69 Addition as Cash Sales cant take place before Commencement of Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Cash-Sales-place-Commencement-Business-taxscan.jpg "ITAT deletes 69 Addition as Cash Sales cant take place before Commencement of Business [Read Order]")
AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Assessing Officer ( AO ) cannot make income additions solely based on the retracted statement of third parties. It was...
![AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Itat-Income-Tax-Appellate-Tribunal-Ao-Retracted-Statement-Retracted-Statement-of-Third-Parties-Income-Additions-itat-news-income-tax-news-tax-news-taxscan.jpg "AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]")
Property Sale Income Kept For Investment will be Taxed under 'Capital Gains' under Income Tax Act: Kerala HC [Read Order]
In a recent case, the Kerala High Court has held that income from the sale of property kept for investment will be taxed under 'Capital Gains' under Income Tax Act, 1961. The court upheld the...
![Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Capital-Gains-Kerala-HC-Sale-Income-ITAT-Kerala-High-Court-capital-accretion-taxscan.jpg "Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]")