![No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Ahmedabad-Income-Tax-TDS-TDS-Deduction-taxscan.jpg "No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]")
No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), after deleting the disallowance made by the assessing officer, held that Tax...
![Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Immovable-property-Cheque-Based-Property-taxscan.jpg "Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]")
![No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/addition-Share-Premium-No-addition-on-account-of-Share-Premium-FMV-taxscan-1.jpg "No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]")
![Deferred Revenue expenditure incurred on account of leased Aircraft Engine Improvement: ITAT directs re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Aircraft-Engine-Aircraft-Engine-Improvement-taxscan.jpg "Deferred Revenue expenditure incurred on account of leased Aircraft Engine Improvement: ITAT directs re adjudication [Read Order]")
No appeal should be filed when Moratorium u/s 14 IBC are issued by NCLT for initiating CIRP: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) ruled that no appeal should be filed when moratoriums under Section 14 of Insolvency and Bankruptcy Code ( IBC )are issued by the National...
![No appeal should be filed when Moratorium u/s 14 IBC are issued by NCLT for initiating CIRP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-IBC-NCLT-Income-Tax-TAXSCAN.jpg "No appeal should be filed when Moratorium u/s 14 IBC are issued by NCLT for initiating CIRP: ITAT [Read Order]")
Failure to point out deficiency in books of account of Mobile distribution business: ITAT deletes 30% Disallowance made on Expenditure [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted 30% disallowance made on the expenditure incurred on mobile distribution business due to failure to point out the deficiency in books...
![Failure to point out deficiency in books of account of Mobile distribution business: ITAT deletes 30% Disallowance made on Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Mobile-Distribution-Mobile-Distribution-Business-taxscan.jpg "Failure to point out deficiency in books of account of Mobile distribution business: ITAT deletes 30% Disallowance made on Expenditure [Read Order]")
ITAT deletes addition made towards loss incurred on derivative transaction carried through proper banking channel: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted additions made towards the loss incurred on the derivative transactions carried through the proper banking channel. The Assessee...
![ITAT deletes addition made towards loss incurred on derivative transaction carried through proper banking channel: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-ITAT-deletes-addition-Derivative-transaction-taxscan-1.jpg "ITAT deletes addition made towards loss incurred on derivative transaction carried through proper banking channel: ITAT [Read Order]")
Stubbed Diamond Jewellery found during Search Proceedings need not to declared in Wealth Tax Return: ITAT deletes Addition [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal (ITAT) ruled that stubbed diamond jewelry found during the search proceedings should not need to be declared in wealth tax return. Hence...
![Stubbed Diamond Jewellery found during Search Proceedings need not to declared in Wealth Tax Return: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Stubbed-Diamond-Jewellery-Search-Proceedings-Tax-Return-ITAT-Addition-taxscan.jpg "Stubbed Diamond Jewellery found during Search Proceedings need not to declared in Wealth Tax Return: ITAT deletes Addition [Read Order]")
Discrepancies in Maintaining KYC Documentation not amounts to Incriminating Material: ITAT deletes Addition u/s 153A of Income Tax Act [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 153A of the Income Tax Act and held that discrepancies in maintaining KYC Documentation does not...
![Discrepancies in Maintaining KYC Documentation not amounts to Incriminating Material: ITAT deletes Addition u/s 153A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-KYC-documentation-Incriminating-Material-taxscan.jpg "Discrepancies in Maintaining KYC Documentation not amounts to Incriminating Material: ITAT deletes Addition u/s 153A of Income Tax Act [Read Order]")
Failure to explain amount found credited in Books: ITAT upholds Invocation u/s 68 of Income Tax Act [Read Order]
In a significant ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the invocation of under Section 68 of the Income Tax Act, 1961, due to the failure to explain the amount...
![Failure to explain amount found credited in Books: ITAT upholds Invocation u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Mumbai-Income-Tax-Explanation-failure-credited-amount-taxscan.jpg "Failure to explain amount found credited in Books: ITAT upholds Invocation u/s 68 of Income Tax Act [Read Order]")
Failure to Substantiate Genuineness of Source of investment with Respect to Purchase of immovable Property: ITAT directs Readjudication
The Pune bench of Income Tax Appellate Tribunal ( ITAT ) directs readjudication on account of failure to substantiate genuineness of source of investment with respect to purchase of...
