ITAT Weekly Round-up
The most important stories on the Income Tax Appellate Tribunal (ITAT) that were published at Taxscan between November 4 and November 11, 2023, are...
![Levy of Penalty u/s 271AAB of Income Tax Act is not Mandatory or Automatic: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Levy-Penalty-Income-Tax-Act-Mandatory-Automatic-ITAT-taxscan.jpg "Levy of Penalty u/s 271AAB of Income Tax Act is not Mandatory or Automatic: ITAT [Read Order]")
![ITAT quashes Assessment Order against non-existent Entity proven to be Null and Void [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-quashes-assessment-order-non-existent-Income-entity-proven-null-void-taxscan.jpg "ITAT quashes Assessment Order against non-existent Entity proven to be Null and Void [Read Order]")
![ITAT quashes assessment order against non-existent entity proven to be null and void [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-assessment-non-existent-entity-null-void-TAXSCAN.jpg "ITAT quashes assessment order against non-existent entity proven to be null and void [Read Order]")
![Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/invoked-Expenditure-incurred-CSR-allowed-AO-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Section 263 cant be invoked when Expenditure incurred on CSR is allowed by AO as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]")
"Other Method" as per Rule 10AB is most appropriate for determining Arm's length Price of Royalty Transaction: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the “Other method” as per Rule 10AB shall be the most appropriate method for determining the arm’s length price of royalty...
![Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Other-Method-most-appropriate-determining-Arms-length-Price-Royalty-Transaction-ITAT-most-appropriate-method-for-determining-taxscan.jpg "Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]")
Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while granting relief to Aditya Birla Nuvo group, held that the investment that had yielded the exempt income shall be considered for the...
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")
Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that transfer pricing adjustment should not be made on account of Intra -Group Services available from Associate Enterprise (AE)...
![Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Transfer-Pricing-Adjustment-Transfer-Pricing-Adjustment-Transfer-Pricing-Adjustment-shall-not-be-made-on-account-of-Intra-Group-Services-Intra-Group-Services-AE-taxscan.jpg "Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]")
Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that determination of income of assessee on certain estimate was not sufficient to constitute concealed income. Hence, the bench deleted the...
![Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Determination-Income-assessee-Estimate-sufficient-constitute-Concealed-Income-ITAT-Penalty-TAXSCAN.jpg "Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]")
Failure to Comply with Direction of HC in Rejecting Application for Registration u/s 10(23C) of Income Tax Act by CIT(E): ITAT Directs De-novo Adjudication [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that Commissioner of Income Tax (Exemption) [CIT (E)] failed to comply with the direction of High Court (HC) in rejecting application for...
![Failure to Comply with Direction of HC in Rejecting Application for Registration u/s 10(23C) of Income Tax Act by CIT(E): ITAT Directs De-novo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-Comply-Direction-HC-Rejecting-Application-Registration-Income-Tax-Act-CITE-ITAT-De-novo-Adjudication-TAXSCAN.jpg "Failure to Comply with Direction of HC in Rejecting Application for Registration u/s 10(23C) of Income Tax Act by CIT(E): ITAT Directs De-novo Adjudication [Read Order]")
Withdrawal of Amount from Bank Account for Purchase of Property and Redeposit of same Bank as Purchase Deal not Fructified: ITAT deletes addition u/s 68 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 68 of the Income Tax Act 1961 as the amount from bank account for property was deposited but redeposited...
![Withdrawal of Amount from Bank Account for Purchase of Property and Redeposit of same Bank as Purchase Deal not Fructified: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Withdrawal-Amount-Bank-Account-Withdrawal-of-Amount-from-Bank-Account-for-Purchase-of-Property-taxscan.jpg "Withdrawal of Amount from Bank Account for Purchase of Property and Redeposit of same Bank as Purchase Deal not Fructified: ITAT deletes addition u/s 68 [Read Order]")
Failure of AO to Consider Documents with Respect to Tax Deduction on FTS under India UK DTAA: ITAT directs Readjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed readjudication on the issue that the Assessing Officer failed to consider the documents with respect to a tax deduction on FTS...
![Failure of AO to Consider Documents with Respect to Tax Deduction on FTS under India UK DTAA: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-AO-Documents-Failure-of-AO-to-Consider-Documents-with-Respect-to-Tax-Deduction-Tax-Deduction-FTS-India-UK-DTAA-DTAA-taxscan.jpg "Failure of AO to Consider Documents with Respect to Tax Deduction on FTS under India UK DTAA: ITAT directs Readjudication [Read Order]")