![Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-ITAT-deletes-addition-ITAT-sale-against-advance-TAXSCAN.jpg "Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]")
Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]
The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai while deleting the addition made by the assessing officer held that the...
![Loan received through State Government does not attract S.43B(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Pune-Income-Tax-State-Government-loan-taxation-taxscan.jpg "Loan received through State Government does not attract S.43B(d) of Income Tax Act: ITAT [Read Order]")
![ITAT directs Re adjudication with respect to Advance received against Booking of Flats [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-ITAT-re-adjudication-decision-Advance-booking-flats-ITAT-ITAT-directive-on-flat-booking-Taxscan.jpg "ITAT directs Re adjudication with respect to Advance received against Booking of Flats [Read Order]")
![ITAT directs to Eliminate Eclerx from final list of comparables chosen for Benchmarking KPO Transactions of Crisil [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Eclerx-Knowledge-process-outsourcing-KPO-benchmarking-taxscan.jpg "ITAT directs to Eliminate Eclerx from final list of comparables chosen for Benchmarking KPO Transactions of Crisil [Read Order]")
ITAT directs to Rectify Assessment Order passed u/s 143(3)of Income Tax Act regarding 80P deduction [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Bangalore bench directed to rectify the assessment order passed under Section 143(3) of the Income Tax Act, 1961 regarding the 80P deduction . The...
![ITAT directs to Rectify Assessment Order passed u/s 143(3)of Income Tax Act regarding 80P deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Deduction-TAXSCAN.jpg "ITAT directs to Rectify Assessment Order passed u/s 143(3)of Income Tax Act regarding 80P deduction [Read Order]")
Income from housing finance for Residential Purposes for a period of less than 5 years eligible for deduction u/s 36(1)(viii) of Income Tax Act: ITAT [Read Order]
The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai ruled that Income From housing finance for residential purposes for a period of less than 5 years should be eligible for...
![Income from housing finance for Residential Purposes for a period of less than 5 years eligible for deduction u/s 36(1)(viii) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Income-Tax-Act-ITAT-housing-finance-deduction-ITAT-ruling-on-residential-finance-Taxscan.jpg "Income from housing finance for Residential Purposes for a period of less than 5 years eligible for deduction u/s 36(1)(viii) of Income Tax Act: ITAT [Read Order]")
Management Service Fees paid to Non Resident AEs eligible for Deduction u/s 37(1) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Delhi held that management service fees paid to non-resident Associate Enterprises are eligible for deduction under Section 37(1) of the Income Tax Act,...
![Management Service Fees paid to Non Resident AEs eligible for Deduction u/s 37(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Fees-Deduction-Management-Service-Fees-taxscan.jpg "Management Service Fees paid to Non Resident AEs eligible for Deduction u/s 37(1) of Income Tax Act: ITAT [Read Order]")
Only Criterion for Initiation of Prosecution u/s 276CC of Income Tax Act is wilful failure to Furnish Returns: Madras HC [Read Order]
In a recent decision, the Madras High Court observed that the only criterion for initiation of prosecution under Section 276CC of the Income Tax Act, 1961 is wilful failure to furnish returns. ...
![Only Criterion for Initiation of Prosecution u/s 276CC of Income Tax Act is wilful failure to Furnish Returns: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Madras-High-Court-Income-Tax-Prosecution-initiation-criteria-taxscan.jpg "Only Criterion for Initiation of Prosecution u/s 276CC of Income Tax Act is wilful failure to Furnish Returns: Madras HC [Read Order]")
AO disallows Depreciation claimed on Opening WDV of Computer Software by Piramal Enterprises: ITAT directs Re-adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed re-adjudication after the Assessing Officer ( AO ) disallowed Depreciation claimed on the Opening Written down Value ( WDV ) of...
![AO disallows Depreciation claimed on Opening WDV of Computer Software by Piramal Enterprises: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Re-adjudication-Piramal-Enterprises-taxscan.jpg "AO disallows Depreciation claimed on Opening WDV of Computer Software by Piramal Enterprises: ITAT directs Re-adjudication [Read Order]")
Piramal Enterprises' unique unutilised MODVAT Credit recomputation attracts Rs. 207 Crores Addition: ITAT orders Re-adjudication [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) in Mumbai has directed re-adjudication regarding the addition of Rs. 207 crores on increase in the value of closing stock by the Piramal Enterprises. In...
![Piramal Enterprises unique unutilised MODVAT Credit recomputation attracts Rs. 207 Crores Addition: ITAT orders Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Piramal-Enterprises-MODVAT-Credit-recomputation-MODVAT-taxscan.jpg "Piramal Enterprises unique unutilised MODVAT Credit recomputation attracts Rs. 207 Crores Addition: ITAT orders Re-adjudication [Read Order]")
Competent Authority Approval in Form No. 3CM requires for claiming Deduction on R & D Expenditure u/s 35(2AB) of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that in order to claim deduction on Research and Development ( R&D ) expenditure under Section 35(2AB) of the Income Tax...
![Competent Authority Approval in Form No. 3CM requires for claiming Deduction on R & D Expenditure u/s 35(2AB) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Competent-Authority-Approval-Form-No.-3CM-Deduction-R-D-Expenditure-Income-Tax-Act-ITAT-taxscan.jpg "Competent Authority Approval in Form No. 3CM requires for claiming Deduction on R & D Expenditure u/s 35(2AB) of Income Tax Act: ITAT [Read Order]")