![ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-upholds-addition-made-on-account-of-Unverifiable-Unsecured-loan-due-to-failure-to-Prove-Creditworthiness-of-Lenders-TAXSCAN.jpg "ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]")
ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench upheld the addition made on account of unverifiable unsecured loan due to failure to prove...
![No addition can be made on account of Fabrication Charges paid to Small Time Workers: ITAT[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-addition-can-be-made-on-account-of-Fabrication-Charges-paid-to-Small-Time-Workers-ITAT-TAXSCAN.jpg "No addition can be made on account of Fabrication Charges paid to Small Time Workers: ITAT[Read Order]")
![Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Excess-Jewellery-Beyond-Specified-WTR-cannot-be-Treated-as-Stridhan-to-Claim-Benefits-under-CBDT-Circular-ITAT-TAXSCAN.jpg "Excess Jewellery Beyond Specified WTR cannot be Treated as Stridhan to Claim Benefits under CBDT Circular: ITAT [Read Order]")
![Mere Transaction through DMAT Account or Sale of the Shares on Stock Exchange Cannot Rebut S.68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-transaction-DMAT-account-or-sale-of-the-shares-on-stock-exchange-TAXSCAN-1.jpg "Mere Transaction through DMAT Account or Sale of the Shares on Stock Exchange Cannot Rebut S.68: ITAT [Read Order]")
![Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cost-of-New-Property-has-to-be-Assessed-Collaboration-Agreement-for-Exemption-Agreement-for-Exemption-New-Property-has-to-be-Assessed-New-Property-Agreement-Collaboration-itat-taxscan.jpg "Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]")
Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision, highlighting that giving the parties a bearer cheque as an assurance...
![Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bearer-cheque-as-Surety-Sufficient-explanation-Business-Expediency-ITAT-TAXSCAN-1.jpg "Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]")
No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that no penalty should be imposed under Section 271(1)(c) of Income Tax Act, 1961 without issue of notice specifying charge. Assessee...
![No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Imposed-us-2711c-of-Income-Tax-Act-Notice-Specifying-Charge-ITAT-TAXSCAN.jpg "No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]")
Reassessment order passed u/s 147 of the Income Tax Act on Account of Mere Change of Opinion is not valid: ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the re-assessment order passed under Section 147 of the Income Tax Act, 1961 on account of mere change of...
Interest paid on delayed payment of TDS not penal in nature: ITAT Allows Deduction u/s 37 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 37 of the Income Tax Act 1961 holding that the interest paid on delayed payment of Tax Deducted at...
![Interest paid on delayed payment of TDS not penal in nature: ITAT Allows Deduction u/s 37 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-payment-TDS-nature-ITAT-Deduction-TAXSCAN.png "Interest paid on delayed payment of TDS not penal in nature: ITAT Allows Deduction u/s 37 [Read Order]")
Interest paid on Delayed TDS Payment is Compensatory in Nature: ITAT allows deduction u/s 37(1) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction under Section 37(1) of the Income Tax Act 1961 holding that the interest paid on delayed Tax Deducted at Source (TDS)...
![Interest paid on Delayed TDS Payment is Compensatory in Nature: ITAT allows deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-paid-TDS-Payment-ITAT-TAXSCAN.jpg "Interest paid on Delayed TDS Payment is Compensatory in Nature: ITAT allows deduction u/s 37(1) [Read Order]")
Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that Payment for business support services from foreign companies have no Fee for Technical Services (FTS). Assessee...
![Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Payment-Business-Services-Foreign-Company-Fee-Technical-Services-ITAT-TAXSCAN.jpg "Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]")
Relief to Maruti Suzuki: ITAT directs to consider Amount of Royalty as a Revenue Expenditure [Read Order]
As a relief to Maruti Suzuki India, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to consider the amount of royalty as a revenue expenditure. ...
![Relief to Maruti Suzuki: ITAT directs to consider Amount of Royalty as a Revenue Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Maruti-Suzuki-ITAT-Royalty-Revenue-Expenditure-TAXSCAN.jpg "Relief to Maruti Suzuki: ITAT directs to consider Amount of Royalty as a Revenue Expenditure [Read Order]")