![Vehicle used for Display of Advertisement not entitled to Higher Rate of Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Advertisement-vehicle.jpeg "Vehicle used for Display of Advertisement not entitled to Higher Rate of Depreciation: ITAT [Read Order]")
Vehicle used for Display of Advertisement not entitled to Higher Rate of Depreciation: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT)has recently ruled that a higher rate of depreciation cannot be granted to the vehicles...
![One Turnover cannot be Taxed in the hands of Two Assessees: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Assessee-Penalty-Appeal-Income-Tax-Income-Tax-Officer-Taxscan.jpg "One Turnover cannot be Taxed in the hands of Two Assessees: ITAT [Read Order]")
![Capital Gain Tax attracts despite Assessee signed a Release Deed waiving his Beneficiary Interests/Title: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Capital-Gain-Tax-Taxscan.jpg "Capital Gain Tax attracts despite Assessee signed a Release Deed waiving his Beneficiary Interests/Title: ITAT [Read Order]")
![Fraudulent Trading in Mindvision Capital Shares: SAT affirms Penalty imposed by SEBI [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/WhatsApp-Image-2020-05-26-at-1.50.45-PM.jpeg "Fraudulent Trading in Mindvision Capital Shares: SAT affirms Penalty imposed by SEBI [Read Order]")
![Non-Appearance before CIT (A) can be excused since Assessee is Senior Citizen and Computer Illiterate: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Assessing-Officer.jpg "Non-Appearance before CIT (A) can be excused since Assessee is Senior Citizen and Computer Illiterate: ITAT [Read Order]")
Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]
In a significant ruling, the Apex Court, while upholding the view of the High Court held that the satisfaction note by the Assessing Officer(AO) clearly states that the documents so seized belonged to...
![Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Anti-Profiteering-Measure-Supreme-Court-Taxscan.jpg "Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]")
Non-Recording of Satisfaction Note and Absence of Nexus between Reassessment, ITAT erred in remitting issues on Merit: Delhi HC [Read Judgment]
The High Court of Delhi held that the impugned order passed by the ITAT suffers from perversity in so far as it refused to allow the assessee to urge the grounds by way of an oral application under...
![Non-Recording of Satisfaction Note and Absence of Nexus between Reassessment, ITAT erred in remitting issues on Merit: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/01/DDA-Capital-Gain-Deduction-Flats-Delhi-High-Court-Taxscan.jpg "Non-Recording of Satisfaction Note and Absence of Nexus between Reassessment, ITAT erred in remitting issues on Merit: Delhi HC [Read Judgment]")
![Bonus allocated to Policyholders is not Taxable as Income from Insurance Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Bonus-Policyholders-Insurance-Company-Taxscan.jpg "Bonus allocated to Policyholders is not Taxable as Income from Insurance Company: ITAT [Read Order]")
ICAI Accounting Standards differentiating Lease Transactions has no relevance in allowing Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) that the Accounting Standards differentiating lease transactions has no relevance in granting deduction under section 37 of the Income Tax Act, 1961 as the Act...
![ICAI Accounting Standards differentiating Lease Transactions has no relevance in allowing Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Penalty-Books-of-Accounts-Budget-2020-Budget-Scan-Finance-Minister-Taxscan.jpg "ICAI Accounting Standards differentiating Lease Transactions has no relevance in allowing Deduction: ITAT [Read Order]")
![Eligible CSR Payments should be Deducted while Computing Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/01/NFCSR-MCA-Taxscan.jpg "Eligible CSR Payments should be Deducted while Computing Business Income: ITAT [Read Order]")
![Deduction allowable even If Capital Gain is not disclosed in Original Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Capital-Gain-Taxscan.jpg "Deduction allowable even If Capital Gain is not disclosed in Original Return: ITAT [Read Order]")
ITAT deletes addition for Unexplained Jewellery supported by Purchase Bills and Books of Accounts [Read Order]
The Income Tax Appellate Tribunal (ITAT) deleted the addition by Commissioner of Income Tax (CIT)(A) on account of unexplained jewellery in the light of the fact that the jewellery seized was...
![ITAT deletes addition for Unexplained Jewellery supported by Purchase Bills and Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Jewellery-CBDT-ITAT-Taxscan.jpg "ITAT deletes addition for Unexplained Jewellery supported by Purchase Bills and Books of Accounts [Read Order]")