![AO cannot Decide what is Good for Promoting Business: ITAT upholds Deletion of Disallowance of Sponsorship Expenses u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/AO-Business-AO-cannot-Decide-what-is-Good-for-Promoting-Business-ITAT-Deletion-Disallowance-Income-Tax-Act-income-tax-taxsscan.jpg "AO cannot Decide what is Good for Promoting Business: ITAT upholds Deletion of Disallowance of Sponsorship Expenses u/s 37 of Income Tax Act [Read Order]")
AO cannot Decide what is Good for Promoting Business: ITAT upholds Deletion of Disallowance of Sponsorship Expenses u/s 37 of Income Tax Act [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of disallowance of sponsorship expenses under Section 37 of the...
![ITAT upholds Deletion of Addition towards Disallowance of Interest on Borrowed Capital u/s.36(1)(iii) out of Commercial Expediency [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Deletion-Addition-Disallowance-Interest-ITAT-upholds-Deletion-of-Addition-towards-Disallowance-of-Interest-Capital.jpg "ITAT upholds Deletion of Addition towards Disallowance of Interest on Borrowed Capital u/s.36(1)(iii) out of Commercial Expediency [Read Order]")
![Exemption u/s.11 of Income Tax Act shall not be granted when activities of Trust are in Nature of Trade, Commerce or Business:ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Exemption-Income-Tax-Act-Income-Tax-activities-of-Trust-Trust-Nature-of-Trade-Trade-Commerce-taxscan-Business-ITAT.jpg "Exemption u/s.11 of Income Tax Act shall not be granted when activities of Trust are in Nature of Trade, Commerce or Business:ITAT [Read Order]")
![ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-cost-of-Acquisition-cost-of-Acquisition-and-improvement-on-Failure-taxscan.jpg "ITAT disallows Indexed cost of Acquisition and improvement on Failure to produce Conveyance Deed [Read Order]")
![Acceptance of ITR without Adequate and Sufficient Enquiry by AO: ITAT upholds Revision order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Acceptance-of-ITR-Income-Tax-Returns-Adequate-and-Sufficient-Enquiry-by-AO-ITAT-upholds-Revision-order-Revision-order-Income-Tax-Act-Income-Tax-ITAT-ITAT-News-TAXSCAN.jpg "Acceptance of ITR without Adequate and Sufficient Enquiry by AO: ITAT upholds Revision order u/s 263 of Income Tax Act [Read Order]")
Failure to clarify as to which limb of Section 271(1)(c) of Income Tax Act attracted in imposition of Penalty: Delhi HC upholds deletion of Penalty [Read Order]
The Delhi High Court has upheld the deletion of penalty on the failure to clarify as to which limb of Section 271(1)(c) of the Income Tax Act attracted the imposition of penalty. The...
![Failure to clarify as to which limb of Section 271(1)(c) of Income Tax Act attracted in imposition of Penalty: Delhi HC upholds deletion of Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Failure-Income-Tax-Act-Delhi-HC-Delhi-HC-upholds-deletion-of-penalty-taxscan.jpg "Failure to clarify as to which limb of Section 271(1)(c) of Income Tax Act attracted in imposition of Penalty: Delhi HC upholds deletion of Penalty [Read Order]")
ITAT deletes Penalty imposed u/s 271(1)(c) of Income Tax Act on Estimated Quantum Addition based upon information from Sales Tax Department [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench deleted the penalty imposed under Section 271(1)(c) of the Income Tax Act ,1961 on estimated quantum addition based upon information from the...
![ITAT deletes Penalty imposed u/s 271(1)(c) of Income Tax Act on Estimated Quantum Addition based upon information from Sales Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-deletes-Penalty-imposed-ITAT-deletes-Penalty-imposed-Income-Tax-Act-Estimated-Quantum-Addition-Quantum-Addition-Sales-Tax-Department-Sales-Tax-ITAT-News-Tax-News-Income-Tax-TAXSCAN.jpg "ITAT deletes Penalty imposed u/s 271(1)(c) of Income Tax Act on Estimated Quantum Addition based upon information from Sales Tax Department [Read Order]")
Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]
The Delhi High Court recently ruled that charging high premium not correct test for making addition under Section 68 of the Income Tax Act, 1961. By this appeal, the appellant/revenue sought to...
![Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Charging-High-Premium-correct-Test-for-making-Addition-Test-for-making-Addition-High-Premium-Income-Tax-Act-Delhi-High-Court-making-Addition-correct-Test-Tax-News-TAXSCAN.jpg "Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]")
AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]
The Delhi High Court quashed the Re assessment notice under section 148 of the Income Tax Act, 1961 triggered by the Assessing Officer (AO)without due application of mind. Shashi Mohan...
![AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/AO-Reassessment-AO-Triggered-Reassessment-Application-AO-Triggered-Reassessment-without-due-Application-of-Mind-Application-of-Mind-taxscan.jpg "AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]")
Disallowance on Professional/Technical Fee to GEL: Delhi HC allows Deduction under the Income Tax Act [Read Order]
The Delhi High Court allowed a deduction under the Income Tax Act, 1961 on Professional /technical Fees to Gherzi Eastern Ltd (GEL). M/S Asian Hotels Ltd, the petitioner challenged the order dated...
![Disallowance on Professional/Technical Fee to GEL: Delhi HC allows Deduction under the Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Professional-fee-technical-Fee-GEL-Disallowance-on-Professional-technical-Fee-to-GEL-Delhi-HC-taxscan.jpg "Disallowance on Professional/Technical Fee to GEL: Delhi HC allows Deduction under the Income Tax Act [Read Order]")
Commission charged by AO considering Market Trend in Providing Accommodation Entries, not on Ad-Hoc basis: ITAT confirms Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has confirmed the addition as the commission charged by Assessing Officer (AO) was considering the market trend in providing accommodation...
![Commission charged by AO considering Market Trend in Providing Accommodation Entries, not on Ad-Hoc basis: ITAT confirms Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Commission-charged-considering-Market-Trend-Providing-Accommodation-Entries-ITAT-Confirms-Addition-Ad-Hoc-basis-ITAT-News-Income-Tax-News-Tax-News-TAXSCAN.jpg "Commission charged by AO considering Market Trend in Providing Accommodation Entries, not on Ad-Hoc basis: ITAT confirms Addition [Read Order]")
Non appearance before lower authorities: ITAT directs assessee to deposit cost of Rs 5000/- to State Legal Aid Authority [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench, directed the deposit cost of rupees 5,000/- to the State Legal Aid Authority due to non-appearance before the lower authorities for appeal...
![Non appearance before lower authorities: ITAT directs assessee to deposit cost of Rs 5000/- to State Legal Aid Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-appearance-before-lower-authorities-lower-authorities-ITAT-State-Legal-Aid-Authority-Income-Tax-Act-Income-Tax-ITAT-News-directs-assessee-to-deposit-Income-Tax-News-TAXSCAN.jpg "Non appearance before lower authorities: ITAT directs assessee to deposit cost of Rs 5000/- to State Legal Aid Authority [Read Order]")