![No Discharge of Onus to Substantiate Claim of Deduction under Income from Other Sources with Required Documents Evidence: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/claim-income-from-other-sources-documents-evidences-ITAT-AO-TAXSCAN.jpeg "No Discharge of Onus to Substantiate Claim of Deduction under Income from Other Sources with Required Documents Evidence: ITAT Restores Matter to AO [Read Order]")
No Discharge of Onus to Substantiate Claim of Deduction under Income from Other Sources with Required Documents Evidence: ITAT Restores Matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore restores matter to the file of Assessing Officer (AO), on the ground that there was no discharge...
![Penalty proceeding u/s 271A of Income Tax Act cant be initiated on Proper maintenance of Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Penalty-Assessee-Proves-Reasonable-cause-Delay-Filing-Books-Account-Income-Tax-Act-ITAT-TAXSCAN-1.jpg "Penalty proceeding u/s 271A of Income Tax Act cant be initiated on Proper maintenance of Books of Account: ITAT [Read Order]")
![Penalty Imposed u/s 272A(1)(d) of Income Tax Act without Giving Proper Opportunity to Assessee: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Imposed-of-Income-Tax-Act-without-Giving-Proper-Opportunity-to-Assessee-ITAT-Deletes-Penalty-TAXSCAN.jpg "Penalty Imposed u/s 272A(1)(d) of Income Tax Act without Giving Proper Opportunity to Assessee: ITAT Deletes Penalty [Read Order]")
![Co-operative Societies Eligible for Exemption u/s 80P(2)(d) of Income Tax Act on interest on investments in Co-operative Banks: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Co-operative-Societies-Eligible-for-Exemption-Income-Tax-Act-on-interest-on-investments-in-Co-operative-Banks-ITAT-TAXSCAN.jpg "Co-operative Societies Eligible for Exemption u/s 80P(2)(d) of Income Tax Act on interest on investments in Co-operative Banks: ITAT [Read Order]")
![Toyota Gets Partial Relief as ITAT Orders Investigation into Capitalized Expenses for Transfer Pricing Adjustment Computation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Toyota-Gets-Partial-ITAT-Orders-Investigation-into-Capitalized-Expenses-for-Transfer-Pricing-Adjustment-Computation-TAXSCAN.jpg "Toyota Gets Partial Relief as ITAT Orders Investigation into Capitalized Expenses for Transfer Pricing Adjustment Computation [Read Order]")
Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]
The Bangalore bench of income tax appellate tribunal has recently held that a firm is not taxable for interest on borrowed capital paid to partners when the same is already taxed from partners under...
![Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Taxable-Interest-Capital-paid-Taxed-ITAT-TAXSCAN.jpg "Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]")
![ITAT Allows Tax Holiday Relief u/s 10A to IBM India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Tax-Holiday-IBM-India-TAXSCAN.jpg "ITAT Allows Tax Holiday Relief u/s 10A to IBM India [Read Order]")
Relief to HP: ITAT allows Deduction on ESOP Cross Charges paid to Overseas Ultimate Holding Company, allowable as Expenditure [Read Order]
While granting relief to M/s. Hewlett Packard (India) Software Operation Pvt Ltd (HP) the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT), held that Employee Stock Option Plan (ESOP)paid...
![Relief to HP: ITAT allows Deduction on ESOP Cross Charges paid to Overseas Ultimate Holding Company, allowable as Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/HP-ITAT-Deduction-ESOP-Company-Expenditure-taxscan.jpg "Relief to HP: ITAT allows Deduction on ESOP Cross Charges paid to Overseas Ultimate Holding Company, allowable as Expenditure [Read Order]")
Consideration received on Relinquishment of Property Rights to Father of Assessee taxable as Capital Gains: ITAT [Read Order]
The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) comprising Judicial Member Beena Pillai and Accountant Member Chandra Poojari has recently held that the consideration received by the...
![Consideration received on Relinquishment of Property Rights to Father of Assessee taxable as Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Consideration-received-Relinquishment-Property-Rights-Assessee-taxable-Capital-Gains-ITAT-TAXSCAN-1.jpg "Consideration received on Relinquishment of Property Rights to Father of Assessee taxable as Capital Gains: ITAT [Read Order]")
![ITAT approves Addition on GP at 2.5% on Non-explanation regarding Closing Stock [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-approves-GP-TAXSCAN.jpeg "ITAT approves Addition on GP at 2.5% on Non-explanation regarding Closing Stock [Read Order]")
Addition u/s 68 on Scrap Sale will invalidate Corresponding Sales and relevant Expenditure charged to Profit and Loss A/c: ITAT [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that addiction under section 68 of the Income Tax Act,1961on scrap sale will invalidate the corresponding sales and relevant...
![Addition u/s 68 on Scrap Sale will invalidate Corresponding Sales and relevant Expenditure charged to Profit and Loss A/c: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Addition-Scrap-Sale-Profit-and-Loss-ITAT-TAXSCAN.jpg "Addition u/s 68 on Scrap Sale will invalidate Corresponding Sales and relevant Expenditure charged to Profit and Loss A/c: ITAT [Read Order]")
Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore held that Interest paid on convertible debentures is not interest on equity and allowable as expenditure under Section 36(1)(iii). The only...
![Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-paid-convertible-debentures-interest-equity-expenditure-ITAT-taxscan.jpg "Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]")