Read all Latest Updates on and about assessment year 2012-13

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Source of Investment Sufficiently Explained: ITAT Deletes Rs. 70.13 Lakh Addition [Read Order]

Franklin Joshva

The Indore Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 70.13 lakh made under Section 69 for unexplained investment...

Payment for Administrative Support Services Do Not Qualify as Fees for Technical Services Under...

ITAT affirms Deductibility of ESOP Expenses as Legitimate Business Expenditures u/s 37 of Income Tax...

ITAT Upholds CIT(A) Ruling, Deleting ₹2 Crore Addition to TCGL’s Income for Non-Accrued Grants [Read...

Will Executed on Plain Paper Admissible as Income Proof: ITAT [Read Order]

Vehicle Registered in the Director's Name but used for Company's Business Purposes: ITAT allows Depreciation [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Chennai, has recently, while deciding a group of appeals filed before it, held that depreciation is allowable on vehicle registered in the director’s name...

CIT has No Power to summarily dismiss Appeal for Non-Prosecution: ITAT asks to dispose of Appeal in Merits [Read Order]

The Income Tax Appellate Tribunal (ITAT), Raipur bench consisting of Ravish Sood, Judicial Member and Rathod Kamlesh Jayantbhai, Accountant Member asked to dispose appeal in merits as CIT has no...

Onus to Prove Authenticity of Loan Transactions is on Assessee: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Raipur bench consisting of Ravish Sood, Judicial Member, and Jamlappa D Battull, Accountant Member held that if AO doubts the authenticity of loan...

Interest received on Enhanced Compensation does not come under ‘Income from Other Sources’ u/s 56 and does not Attracts TDS u/s 194A: ITAT [Read Order]

The New Delhi bench of Income Tax Appellate Tribunal( ITAT ) has held that interest received on enhanced compensation not comes under ‘income from other sources’ u/s 56 and not attracts Tax Deduction...

Normal Depreciation could be considered as a legitimate Deduction in Computing the Real Income: Madras HC grants relief to IIET [Read Order]

The Madras High Court while granting relief to M/s. Indian Institute of Engineering Technology held that Normal depreciation could be considered as a legitimate deduction in computing the real income...