![ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Uphold-Delete-Addition-Assessing-officer-Unsecured-Loan-Non-submission-genuine-Documents-ITAT-income-tax-taxscan.jpg "ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]")
ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) for deleting the...
![Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-shall-not-be-allowable-in-respect-of-increase-Business-Income-addition-on-account-of-Concealed-Production-ITAT-TAXSCAN.jpg "Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]")
![FCCB issue expenses included as part of FCCB Premium Expenses allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/FCCB-issue-expenses-included-as-part-of-FCCB-Premium-Expenses-ITAT-TAXSCAN.jpg "FCCB issue expenses included as part of FCCB Premium Expenses allowable as Deduction: ITAT [Read Order]")
![Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-Cash-Book-Subsequent-to-Survey-ITAT-Expenses-Recorded-in-Cash-Book-Expenses-Cash-Book-taxscan.jpg "Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]")
![Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Reopening-Done-without-Application-of-Mind-based-on-Misunderstood-Facts-not-Valid-Reopening-Done-without-Application-of-Mind-Reopening-ITAT-Taxscan.jpg "Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]")
Relief to Reliance Infra: ITAT Allows TDS Credit of Rs. 40.43 Crore as Deducted by Tata Power on Payment to Adani Electricity on Transfer of Business
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to Reliance Infrastructure by allowing the Tax Deducted at Source (TDS) credit of Rs 40.43 crore deducted by Tata Power on...
No addition can be made on amount debited to “Employees Share Option Scheme” for benefit of Employees of Company: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Mumbai bench recently held that no addition can be made on the amount debited to Employees Share Option Scheme” for the benefit of employees of the...
![No addition can be made on amount debited to “Employees Share Option Scheme” for benefit of Employees of Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/amount-debited-to-Employees-Share-Option-Scheme-Employees-of-Company-Employees-Share-Option-Scheme-ITAT-taxscan.jpg "No addition can be made on amount debited to “Employees Share Option Scheme” for benefit of Employees of Company: ITAT [Read Order]")
Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench in an appeal filed before it, held that once addition has been made on adhoc and estimate which has been reduced by the tribunal, then no...
![Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Tribunal-Penalty-on-Concealment-of-Income-Penalty-Concealment-of-Income-Income-Tax-Act-ITAT-taxscan.jpg "Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]")
Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]
The bench of Amit Shukla and Gagan Goyal of Mumbai Income Tax Appellate Tribunal ruled that Income from carriage of goods and for operating ships is taxable under section 44B of the Income Tax Act,...
![Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Carriage-of-Goods-Income-Income-from-Carriage-of-Goods-Operating-Ship-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]")
![NRI’s Income or Deposit in Foreign Bank Account cannot be Taxed in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/NRI-Income-NRIs-Income-Deposit-Foreign-Bank-Account-Bank-Account-Taxed-Tax-ITAT-Income-Tax-taxscan.jpg "NRI’s Income or Deposit in Foreign Bank Account cannot be Taxed in India: ITAT [Read Order]")
![Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Insurance-Premium-Keyman-Insurance-Policy-LIC-Keyman-Insurance-Policy-of-LIC-Expenses-ITAT-Income-Tax-taxscan.jpg "Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]")
Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the travelling expenses being incurred wholly and exclusively for business can be allowed as a deduction. M/s. Express...
![Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Travelling-Expenses-Business-Deduction-ITAT-taxscan.jpg "Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]")