![No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Bad-Debts-taxscan.jpg "No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]")
No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld the revision of bad debts allowed under Section 36(1)(vii) of the Income...
![Assessee demonstrates Reasonable Cause for Cash Loan Availment u/s 273 B: ITAT deletes Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/demonstrates-Reasonable-Cause-Cash-Loan-Availment-us-273-B-ITAT-Penalty-us-271D-TAXSCAN.jpg "Assessee demonstrates Reasonable Cause for Cash Loan Availment u/s 273 B: ITAT deletes Penalty u/s 271D [Read Order]")
![Charge Memo against Commissioner of Income Tax quashed Citing 10-Year Inordinate delay and Prejudice to Officer: Delhi High Court dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Charge-Memo-Commissioner-of-Income-Tax-Citing-10-Year-Inordinate-delay-Prejudice-Officer-Delhi-High-Court-Writ-Petition-taxscan.jpg "Charge Memo against Commissioner of Income Tax quashed Citing 10-Year Inordinate delay and Prejudice to Officer: Delhi High Court dismisses Writ Petition [Read Order]")
![ITAT upholds CIT (A)s Decision Deleting Sales Tax Refund Addition of Rs. 11.6L made by AO u/s 43B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-CIT-A-ITAT-upholds-CIT-As-Decision-Deleting-Sales-Tax-Refund-Sales-Tax-Refund-taxscan.jpg "ITAT upholds CIT (A)s Decision Deleting Sales Tax Refund Addition of Rs. 11.6L made by AO u/s 43B of Income Tax Act [Read Order]")
![ITAT restores Trusts 80G (5) Registration Application back to CIT (E) despite 6-Year Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Application-CIT-E-ITAT-restores-Trusts-80G-5-Registration-Application-Delay-taxscan.jpg "ITAT restores Trusts 80G (5) Registration Application back to CIT (E) despite 6-Year Delay [Read Order]")
Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) confirmed the addition of unutilized Central Value added Tax (CENVAT) credit, mandating its inclusion in the closing stock value as per...
![Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/CENVAT-credit-Unutilized-CENVAT-credit-Closing-Stock-Value-Stock-Value-taxscan.jpg "Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]")
Imposition to Remit 15% of Total Income Tax Demand for Grant of Stay is Arbitrary: Kerala HC sets aside Condition [Read Order]
The Kerala High Court has set aside the condition of imposing a remittance of 15% of the total income tax demand for the grant of stay, deeming it arbitrary. The appellant had impugned assessment...
![Imposition to Remit 15% of Total Income Tax Demand for Grant of Stay is Arbitrary: Kerala HC sets aside Condition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Income-Tax-Kerala-high-court-Income-Tax-Demand-Stay-Imposition-TAXSCAN.jpg "Imposition to Remit 15% of Total Income Tax Demand for Grant of Stay is Arbitrary: Kerala HC sets aside Condition [Read Order]")
![Non-striking of Irrelevant Matter would Render Income Tax Penalty Notice Defective: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Income-Tax-Penalty-TAXSCAN.jpg "Non-striking of Irrelevant Matter would Render Income Tax Penalty Notice Defective: ITAT [Read Order]")
Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) refused to grant condonation for a 310-day delay, citing the taxpayer's inability to substantiate the Chartered Accountant's (CA)...
![Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Condone-Delay-Taxpayer-Taxpayer-Fails-to-Prove-CAs-Advice-Taxpayer-Fails-to-Prove-CAs-Advice-to-Transfer-Case-to-Advocate-taxscan.jpg "Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]")
No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]
The Mumbai bench Income Tax Appellate Tribunal (ITAT) held that there was no disallowance on  payment towards the Provident Fund and Employee State Insurance (ESI) made before the due date of filing...
![No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/disallowance-payments-PF-and-ESI-Income-Tax-Return-us-1391-of-Act-ITAT-TAXSCAN.jpg "No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]")
No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) while making directions to recompute the Short Term Capital Gain( STCG ), held that interest cost can not be claimed as business...
![No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-ITAT-ruling-on-interest-cost-Business-expenditure-and-shares-investment-Short-Term-Capital-Gains-Taxscan.jpg "No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]")
No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), after deleting the disallowance made by the assessing officer, held that Tax Deduction at Source ( TDS ) should not be deducted on...
![No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Ahmedabad-Income-Tax-TDS-TDS-Deduction-taxscan.jpg "No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]")