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Disallowance u/s 14A applicable only if AO finds assessee incurred Expenses with Credible Evidence: ITAT rules in favour of Maruti Suzuki

Yogitha S. Yogesh

In a significant case, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance under section 14A of the Income Tax...

Benefit of India UK DTAA allowable to LLP on portion of Income from Indian Engagements: ITAT [Read...

No Disallowance u/s 14A on Tax Free Bonds: ITAT [Read Order]

No TDS can be deducted on Roaming Charges u/s 194J: ITAT [Read Order]

Failure to Produce relevant Evidence: ITAT confirms Addition of Capital Gain by Disallowing Cost of...

Application of Valuation method of Rule 11UA upon Preferential Shares: ITAT deletes Addition of Rs 72 Lakhs [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi deleted addition of Rupees 72 lakhs as there was application of valuation method of Rule 11UA upon preferential shares. The assessee company,...

Processing Fees for Purchase of Business Assets Allowable as Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the processing fees for purchase of business assets shall be allowable as expenditure under the provisions of the Income Tax Act,...

No Intimation from Counsel regarding Ex Parte order: ITAT Condones delay of 224 days [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), condoned a delay of 224 days on the ground that there was no intimation from the Counsel of the assessee regarding the ex parte order. The assessee,...

Delay due to Daughter’s Serious Medical Condition is Reasonable Cause: ITAT Condones Delay in filing Appeal [Read Order]

The assessee’s delay in filing the appeal due to his daughter’s serious medical condition is reasonable cause for condonation the Income Tax Appellate Tribunal of Delhi bench condones the delay. ...

Addition in respect of Penny Stock cannot be made without Incriminating Material found during Search: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Mumbai bench has held that long term capital gains arising from a penny stock transaction cannot be denied exemption under the Income Tax Act, 1961 on the...

ITAT allows Assessee’s Claim to Write Back Credit to Profit and Loss Account for Bad Debt made in earlier years [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench allowed the assessee’s claim to write back credit to profit and loss account for bad debt made in earlier years. The assessee company,...

Tribunal erred in upholding Disallowance of Commission Payment as no document was considered: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the tribunal erred in upholding the disallowance of commission payment as no document was considered. The assessee, Paresh V. Shah...

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