![Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Assessee-claim-Deduction-Cash-Purchase-land-Amount-Income-Tax-Act-ITAT-TAXSCAN.jpg "Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]")
Assessee can't claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee cannot claim a deduction for the cash purchase of land when...
![Mere Late Filing of Form 27Q Cannot be Criteria for Levying Fees u/S 234E: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-Late-Filing-of-Form-27Q-Criteria-for-Levying-Fees-ITAT-TAXSCAN.jpg "Mere Late Filing of Form 27Q Cannot be Criteria for Levying Fees u/S 234E: ITAT [Read Order]")
![No Penalty u/s 271D if Reasonable Cause shown by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Reasonable-Cause-shown-by-Assessee-ITAT-Assessee-Reasonable-Cause-Taxscan.jpg "No Penalty u/s 271D if Reasonable Cause shown by Assessee: ITAT [Read Order]")
Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-inclusion of surrendered income book profits under Section 115JB of the Income Tax Act 1961 is not rectifiable...
![Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Surrendered-Income-Income-Book-Profits-Profits-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]")
![Expenditure towards Wage Settlement Deductible in the Year of Actual Payment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Expenditure-Wage-Settlement-Wage-Settlement-Deductible-Actual-Payment-ITAT-Income-Tax-taxscan.jpg "Expenditure towards Wage Settlement Deductible in the Year of Actual Payment: ITAT [Read Order]")
Solid Waste Expenses kept in a Temporary Site Is Accrued Liability, not Contingent Liability: ITAT Deletes Addition
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals)[CIT(A)] and deleted the addition made by the Assessing Officer (AO) of...
Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]
The Ahmedabad Income Tax Appellate Authority ( ITAT ) has recently held that re-assessment of returns without the formation of belief of escapement of income based on incorrect facts is invalid. ...
![Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Re-Assessment-Escapement-of-Income-Income-Incorrect-Facts-ITAT-Taxscan.jpg "Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]")
Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that disallowance under section 14A of the Income Tax Act,1961 does not apply to interest income earned from the negative capital...
![Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Disallowance-Interest-Income-Negative-Capital-Partnership-ITAT-TAXSCAN.jpg "Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]")
Expenses towards Renovation of Business Showrooms 'Revenue' in Nature: ITAT allows Income Tax Deduction to Skoda Dealers [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the expenses incurred by the car dealers towards renovating its four business showrooms are revenue in nature for the purpose...
![Expenses towards Renovation of Business Showrooms Revenue in Nature: ITAT allows Income Tax Deduction to Skoda Dealers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Renovation-Business-Revenue-Nature-ITAT-Income-Tax-Deduction-Skoda-Dealers-TAXSCAN.jpg "Expenses towards Renovation of Business Showrooms Revenue in Nature: ITAT allows Income Tax Deduction to Skoda Dealers [Read Order]")
Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that Income Tax Addition for Cash deposits is not valid when certificates from the Bank denies the existence of Bank accounts....
![Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-Cash-Deposits-Certificates-Bank-Accounts-ITAT-TAXSCAN.jpg "Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]")