![No Addition to Net Profit to be Made without Recomputing Trading Result u/s 145(1) of Income Tax Act: Punjab & Haryana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-Punjab-and-Haryana-High-Court-Section-1451-income-tax-act-Trading-result-computation-taxscan.jpg "No Addition to Net Profit to be Made without Recomputing Trading Result u/s 145(1) of Income Tax Act: Punjab & Haryana HC [Read Order]")
No Addition to Net Profit to be Made without Recomputing Trading Result u/s 145(1) of Income Tax Act: Punjab & Haryana HC [Read Order]
The Punjab and Haryana High Court observed that no Addition can be made to net profit without recomputing trading result under Section 145(1) of the...
![Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Section-54-Income-Tax-Act-Residential-House-Construction-Taxpayer-Claim-Old-House-Transfer-taxscan.jpg "Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]")
![ITAT deletes Adjustment on Account of Arms Length Pricing of Export Commission Payment against Honda Subsidy [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Export-Commission-Payment-Honda-Honda-Subsidy-Export-commission-pricing-Honda-Motor-taxscan.jpg "ITAT deletes Adjustment on Account of Arms Length Pricing of Export Commission Payment against Honda Subsidy [Read Order]")
![Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Mumbai-Income-tax-Bank-statement-Bank-statements-evidence-taxscan.jpg "Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]")
Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 68 of the Income Tax Act, 1961 as the source for deposits made during the demonetization period...
![Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Demonetisation-deposits-Section-68-of-income-tax-act-taxscan.jpg "Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that there exists no employer-employee relationship between Piramal Enterprises and doctors, leading to the deletion of...
![No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-Employer-Employee-Relationship-Piramal-Enterprises-Doctors-to-Levy-FBT-ITAT-Addition-taxscan.jpg "No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [Read Order]")
No LTCG Liability since Property Sold is Agricultural Land and Placed on Record Computation of Total Income: ITAT deletes Addition of 52.9 Lakhs [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of Rs. 52.9 lakhs as there is no Long Term Capital Gain ( LTCG ) liability, given that the property sold was...
![No LTCG Liability since Property Sold is Agricultural Land and Placed on Record Computation of Total Income: ITAT deletes Addition of 52.9 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-LTCG-Liability-Property-Sold-Agricultural-Land-Placed-on-Record-Computation-Total-Income-ITAT-taxscan.jpg "No LTCG Liability since Property Sold is Agricultural Land and Placed on Record Computation of Total Income: ITAT deletes Addition of 52.9 Lakhs [Read Order]")
Deduction cannot be claimed by Assessee when Employees’ contribution not being paid to the respective PF & ESI Acts: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled deduction cannot be claimed by Assessee when employees’ contribution not being paid to the respective Provident Fund ( PF ) and...
![Deduction cannot be claimed by Assessee when Employees’ contribution not being paid to the respective PF & ESI Acts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/PF-PF-and-ESI-acts-Employees-State-Insurance-Deduction-Income-tax-deduction-taxscan.jpg "Deduction cannot be claimed by Assessee when Employees’ contribution not being paid to the respective PF & ESI Acts: ITAT [Read Order]")
STCL Off settable Against STCG across Assets Regardless of Tax Rate Disparity u/s 70 (2) of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Short Term Capital Loss ( STCL ) offsettable against Short Term Capital Gain ( STCG ) across assets regardless of tax rate...
![STCL Off settable Against STCG across Assets Regardless of Tax Rate Disparity u/s 70 (2) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Income-tax-Tax-rate-disparity-Short-term-capital-loss-Short-term-capital-gain-taxscan.jpg "STCL Off settable Against STCG across Assets Regardless of Tax Rate Disparity u/s 70 (2) of Income Tax Act: ITAT [Read Order]")
Capital Gain from Sale of Equity Shares not Taxable as Per Article 13(4) of India- Mauritius DTAA: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that capital gain from sale of equity shares not taxable as per Article 13 (4) of India - Mauritius Double Taxation Avoidance...
![Capital Gain from Sale of Equity Shares not Taxable as Per Article 13(4) of India- Mauritius DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Capital-Gain-Sale-of-Equity-Shares-Taxable-Per-Article-India-Mauritius-DTAA-ITAT-taxscan.jpg "Capital Gain from Sale of Equity Shares not Taxable as Per Article 13(4) of India- Mauritius DTAA: ITAT [Read Order]")