![Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Profit-TAXSCAN.jpg "Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]")
Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has observed that the magnitude of profit is not decisive factor about genuineness of...
![Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-foreign-Telecom-Operators-taxscan.jpg "Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]")
![ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Capital-Gains-TAXSCAN.jpg "ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]")
![Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Repayment-of-Business-Operation-TAXSCAN.jpg "Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]")
![Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Sahara-India-Relief-to-Sahara-India-ITAT-Addition-Interest-Income-AO-taxscan.jpg "Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]")
Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) while directing the readjudication observed that procedure of disposal of appeal with respect to investment in equities is not in...
![Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Investment-in-equities-Equity-investment-appeal-Equity-investment-taxscan.jpg "Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]")
No addition u/s 41(1) of Income Tax Act on ground of Expiration of Limitation Period Alone: ITAT deletes Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition as no addition under section 41(1) of the Income Tax Act shall be made solely on the grounds of the expiration of...
![No addition u/s 41(1) of Income Tax Act on ground of Expiration of Limitation Period Alone: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/No-addition-Income-Tax-Act-Expiration-of-Limitation-Period-Alone-ITAT-taxscan.jpg "No addition u/s 41(1) of Income Tax Act on ground of Expiration of Limitation Period Alone: ITAT deletes Addition [Read Order]")
Source for cash deposit in Saving Bank Account is made out of Sale Proceeds of Flat: ITAT deletes Addition
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the addition made by the assessing officer held that source for cash deposit in savings bank account is made out of sale...
Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that expenditure incurred on sheleed projects are revenue expenditure and deleted the disallowance made by the assessing...
![Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Revenue-Expenditure-Revenue-Expenditure-on-Shelved-Projects-ITAT-Decision-on-Project-Expenditure-Taxscan.jpg "Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]")
No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that no addition shall be made on account of share premium received in excess of Fair Market Value (FMV) under Section...
![No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/addition-Share-Premium-No-addition-on-account-of-Share-Premium-FMV-taxscan-1.jpg "No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]")
ITAT directs re-adjudication with respect to LTCG of sold property which canceled by Civil court [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) directs re-adjudication with respect to Long Term Capital Gain of sold property which was canceled by the civil court. The Assessee...
![ITAT directs re-adjudication with respect to LTCG of sold property which canceled by Civil court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-re-adjudication-LTCG-ITAT-directs-readjudication-with-respect-to-LTCG-Civil-court-taxscan.jpg "ITAT directs re-adjudication with respect to LTCG of sold property which canceled by Civil court [Read Order]")
Method of Revenue Recognition and application of Accounting Standard properly verified by AO in Assessment Order: ITAT quashes Revision Order
The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) while quashing the revision order held that the method of revenue recognition and application of accounting standard are properly verified...
