![ITAT quashes reopening of Assessment, deletes addition on account of Share Application Money and Commission paid [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Income-Tax-ITAT-assessment-share-application-money-commission-Taxscan.jpg "ITAT quashes reopening of Assessment, deletes addition on account of Share Application Money and Commission paid [Read Order]")
ITAT quashes reopening of Assessment, deletes addition on account of Share Application Money and Commission paid [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench quashed the reopening of the assessment and consequently deleted addition on account of...
![No Addition merely on ground that Investors shown Lower Income in their Tax Returns: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Investors-Lower-Income-Tax-Returns-ITAT-Taxscan.jpg "No Addition merely on ground that Investors shown Lower Income in their Tax Returns: ITAT [Read Order]")
![ITAT deletes Penalty for failure to issue Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Penalty-failure-to-issue-Notice-Taxscan.jpg "ITAT deletes Penalty for failure to issue Notice [Read Order]")
![Staff Recruitment Expenses incurred by Hotel allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Staff-Recruitment-Expenses-Hotel-Business-Expenditure-ITAT-Taxscan.jpg "Staff Recruitment Expenses incurred by Hotel allowable as Business Expenditure: ITAT [Read Order]")
![ITAT allows Exemption u/s 11(1)(a) as activities undertaken by Builders Association isn’t Trade, Commerce, or Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-exemption-Builders-Association-commerce-business-Taxscan.jpg "ITAT allows Exemption u/s 11(1)(a) as activities undertaken by Builders Association isn’t Trade, Commerce, or Business [Read Order]")
![ITAT allows Deduction u/s 80IA to a Developer paid by Government [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Deduction-80IA-developer-Government-Taxscan.jpg "ITAT allows Deduction u/s 80IA to a Developer paid by Government [Read Order]")
Addition for Unexplained Cash Credit justified in respect of Unexplained Creditors shown as Bogus: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench ruled that the addition for unexplained cash credit is justified in respect of unexplained creditors shown as bogus. The AO asked the...
![Addition for Unexplained Cash Credit justified in respect of Unexplained Creditors shown as Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/unexplained-cash-credit-unexplained-creditors-bogus-ITAT-Taxscan.jpg "Addition for Unexplained Cash Credit justified in respect of Unexplained Creditors shown as Bogus: ITAT [Read Order]")
Deductions u/s. 10A, 10AA applicable on Profits of Business and not on Income from Other Sources: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench ruled that the deductions under section 10A and 10AA applicable on profits of the business and not on income from other sources. The assessee,...
![Deductions u/s. 10A, 10AA applicable on Profits of Business and not on Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Deductions-10A-10AA-business-income-from-other-sources-ITAT-Taxscan.jpg "Deductions u/s. 10A, 10AA applicable on Profits of Business and not on Income from Other Sources: ITAT [Read Order]")
![Additions based on estimate basis cannot be sustained in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/sustained-in-Law-ITAT-Taxsan.jpg "Additions based on estimate basis cannot be sustained in Law: ITAT [Read Order]")
ITAT deletes Addition made on account of Disallowance of Deduction of Debit Note without appreciating the other facts [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench upheld the deletion of addition made on account of disallowance of deduction of debit note without appreciating the other facts. The...
![ITAT deletes Addition made on account of Disallowance of Deduction of Debit Note without appreciating the other facts [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-account-of-disallowance-deduction-of-debit-note-Taxscan.jpg "ITAT deletes Addition made on account of Disallowance of Deduction of Debit Note without appreciating the other facts [Read Order]")
No Retrospective Effect of Deduction u/s 54 restricted to only one Residential House by the Finance Act 2014: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the deduction under section 54 is restricted to only one residential house by the Finance Act 2014 is prospective in nature from...
![No Retrospective Effect of Deduction u/s 54 restricted to only one Residential House by the Finance Act 2014: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Deduction-residential-house-Finance-Act-ITAT-Taxscan.jpeg "No Retrospective Effect of Deduction u/s 54 restricted to only one Residential House by the Finance Act 2014: ITAT [Read Order]")
ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench directed AO to allow expenditure incurred at Head Office except for director salary against interest income. The assessee, M/s. The...
![ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-expenditure-interest-income-Taxscan.jpg "ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]")