![ITAT allows Deduction u/s 54F on Residential House Property purchased in the Name of Wife [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/ITAT-deduction-residential-house-property-Taxscan.jpg "ITAT allows Deduction u/s 54F on Residential House Property purchased in the Name of Wife [Read Order]")
ITAT allows Deduction u/s 54F on Residential House Property purchased in the Name of Wife [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench allowed the deduction under section 54F of the Income Tax Act in respect of residential house...
![Relief to Allahabad Bank: ITAT deletes Penalty for TDS Default [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Allahabad-Bank-TDS-Form-No.-15G-15H-ITAT-Taxscan.jpg "Relief to Allahabad Bank: ITAT deletes Penalty for TDS Default [Read Order]")
![Penalty shall not be levied merely on Technical Reasons: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Penalty-Technical-Reasons-ITAT-Taxscan.jpg "Penalty shall not be levied merely on Technical Reasons: ITAT [Read Order]")
![ITAT restores matter to AO to determine Deduction of Business Income and Interest Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-deduction-of-business-income-interest-income-Taxscan.jpg "ITAT restores matter to AO to determine Deduction of Business Income and Interest Income [Read Order]")
ITAT restores issue back to AO for fresh adjudication of deduction of TDS on payments made towards Suspense Service Expenses, Rent
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench stores issue back to AO for denovo adjudication concerning the deduction of TDS on payments made towards Suspense Service Expenses and Rent. ...
ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench directed the matter to AO to examine the afresh rate of gross profit declared on unaccounted turnover. The assessee, M/s Alokik Steels Pvt....
![ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-gross-profit-unaccounted-turnover-Taxscan.jpg "ITAT directs matter to AO to examine afresh Rate of Gross Profit declared on Unaccounted Turnover [Read Order]")
Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while deleting the penalty ruled that change in nature of loss from business loss to speculative loss is not enough to impose a penalty. The...
![Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/business-loss-speculative-loss-ITAT-penalty-Taxscan.jpg "Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]")
ITAT restore issue back to AO to determine eligibility for Deduction of Amount paid as Cess [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench restored the issue back to AO to determine eligibility for deduction of the amount paid as Cess. The assessee, Sulzer Pumps India Limited has...
![ITAT restore issue back to AO to determine eligibility for Deduction of Amount paid as Cess [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-eligibility-for-deduction-Cess-Taxscan.jpg "ITAT restore issue back to AO to determine eligibility for Deduction of Amount paid as Cess [Read Order]")
Mere Unrecognized Method followed by Assessee to Compute Taxable Income can’t be Estoppel: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench ruled that a mere unrecognized method followed by the assessee to compute taxable income can not be estoppel. The assessee, M/s Monarch...
![Mere Unrecognized Method followed by Assessee to Compute Taxable Income can’t be Estoppel: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Mere-unrecognized-compute-taxable-income-estoppel-ITAT-Taxscan-opengraph.jpeg "Mere Unrecognized Method followed by Assessee to Compute Taxable Income can’t be Estoppel: ITAT [Read Order]")
![Zynga India is no Risk Company, Risk Adjustment should be provided to Comparables: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Zynga-India-risk-company-risk-adjustment-ITAT-Taxscan.jpeg "Zynga India is no Risk Company, Risk Adjustment should be provided to Comparables: ITAT [Read Order]")
If Reasoning stated by Enforcement Officials is taken as correct reason, no need for AO to frame assessment: Madras High Court [Read Order]
The Madras High Court ruled that if reasoning stated by the Enforcement Officials is taken as the correct reason, then there is no need for the assessing officer to be there to frame the assessment. ...
![If Reasoning stated by Enforcement Officials is taken as correct reason, no need for AO to frame assessment: Madras High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Enforcement-Officials-AO-assessment-Madras-HC-Taxscan-opengraph.jpg "If Reasoning stated by Enforcement Officials is taken as correct reason, no need for AO to frame assessment: Madras High Court [Read Order]")