Overseas Advisory Services Rendered from India: ITAT Restores Deduction u/s 80-O, Partly allows Appeal of DSP Merrill Lynch
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that professional and technical advisory services rendered by DSP Merrill Lynch...
![Draft Return Unrealistic, Books Absent: ITAT Deletes S.68 Additions, Estimates Liquor Firm’s Net Profit at 2.5% of Gross Sales [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104209-draft-return-itat-net-profit-gross-sales-estimates-liquor-firms-taxscan.webp "Draft Return Unrealistic, Books Absent: ITAT Deletes S.68 Additions, Estimates Liquor Firm’s Net Profit at 2.5% of Gross Sales [Read Order]")
![Revenue Recognition on Club Membership Fees Must Match Service Period: ITAT in Sterling Holidays Case [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104172-revenue-recognition-club-membership-fees-membership-fees-taxscan.webp "Revenue Recognition on Club Membership Fees Must Match Service Period: ITAT in Sterling Holidays Case [Read Order]")
![Revenue Recognition under POCM Upheld for Vacation Ownership Plans: ITAT Partly Allows Sterling Holiday’s Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104166-appeal-holidays-taxscan.webp "Revenue Recognition under POCM Upheld for Vacation Ownership Plans: ITAT Partly Allows Sterling Holiday’s Appeal [Read Order]")
ITAT grants Delta Air Lines Inc. exemption under Article 8 of India-USA DTAA for Code Sharing Transportation [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) granted Delta Air Lines Inc. tax exemption on the income earned through Code Sharing arrangements and use of third-party aircraft under...
![ITAT grants Delta Air Lines Inc. exemption under Article 8 of India-USA DTAA for Code Sharing Transportation [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104254-itat-delta-air-lines-inc-india-usa-dtaa-sharing-transportation-taxscan.webp "ITAT grants Delta Air Lines Inc. exemption under Article 8 of India-USA DTAA for Code Sharing Transportation [Read Order]")
Business Loss on Wind Turbine Generators Capital in Nature: ITAT Upholds Disallowance of ₹10.42 Crore u/s 37 [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the disallowance of ₹10.42 crore claimed by Gujarat Energy Development Agency on account of impairment of assets and abnormal...
![Business Loss on Wind Turbine Generators Capital in Nature: ITAT Upholds Disallowance of ₹10.42 Crore u/s 37 [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2103999-wind-turbine-generators-taxscan.webp "Business Loss on Wind Turbine Generators Capital in Nature: ITAT Upholds Disallowance of ₹10.42 Crore u/s 37 [Read Order]")
Business Expenses Incurred Wholly for Proprietorship and Partnership Activities cannot be Denied on Mere Presumption: ITAT deletes Addition u/s 37(1) [Read Order]
The Ahmedabad bench of Income Tax AppellateTribunal (ITAT), Ahmedabad, held that business expenses incurred wholly for proprietorship and partnership activities cannot be denied on a mere ...
![Business Expenses Incurred Wholly for Proprietorship and Partnership Activities cannot be Denied on Mere Presumption: ITAT deletes Addition u/s 37(1) [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104171-business-expenses-proprietorship-partnership-activities-itat-taxscan.webp "Business Expenses Incurred Wholly for Proprietorship and Partnership Activities cannot be Denied on Mere Presumption: ITAT deletes Addition u/s 37(1) [Read Order]")
No Misreporting, No Penalty: ITAT Deletes ₹7.40 Crore Levy u/s 270A on Gujarat Energy Development Agency [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has deleted the penalty of ₹7.40 crore imposed on Gujarat Energy Development Agency under Section 270A, holding that the assessee did...
![No Misreporting, No Penalty: ITAT Deletes ₹7.40 Crore Levy u/s 270A on Gujarat Energy Development Agency [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2103988-gujarat-energy-development-taxscan.webp "No Misreporting, No Penalty: ITAT Deletes ₹7.40 Crore Levy u/s 270A on Gujarat Energy Development Agency [Read Order]")
![Maintenance Charges Recognised Over Service Period, Not Fully in Year of Receipt: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104162-maintenance-charges-service-period-itat-taxscan.webp "Maintenance Charges Recognised Over Service Period, Not Fully in Year of Receipt: ITAT [Read Order]")
ITAT deletes ₹1.53 Crore Addition on Petrol Pump’s Demonetization Cash Deposits, citing Legal Acceptance of Old Notes [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has deleted an addition of ₹1.53 crore made under Section 69A in the case of a petrol pump owner for the Assessment Year 2017-18. The ...
![ITAT deletes ₹1.53 Crore Addition on Petrol Pump’s Demonetization Cash Deposits, citing Legal Acceptance of Old Notes [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/2104103-itat-petrol-pumps-demonetization-cash-deposits-legal-acceptance-old-notes-taxscan.webp "ITAT deletes ₹1.53 Crore Addition on Petrol Pump’s Demonetization Cash Deposits, citing Legal Acceptance of Old Notes [Read Order]")