![Arms Length Price cannot be Done Except under one of the Methods Prescribed u/s 92C(1)of Income Tax Act: ITAT deletes TP Adjustment based on Adhoc Estimation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Arms-Length-Price-Done-Except-Methods-Prescribed-Income-Tax-Act-ITAT-TP-Adjustment-Adhoc-Estimation-TAXSCAN.jpg "Arms Length Price cannot be Done Except under one of the Methods Prescribed u/s 92C(1)of Income Tax Act: ITAT deletes TP Adjustment based on Adhoc Estimation [Read Order]")
Arm's Length Price cannot be Done Except under one of the Methods Prescribed u/s 92C(1)of Income Tax Act: ITAT deletes TP Adjustment based on Adhoc Estimation [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the Transfer Pricing (TP) adjustment based on adhoc estimation basis holding...
![Son who did not Succeed Estate of Deceased Assessee cannot be Legal Representative during Income Tax Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Son-Succeed-Estate-Deceased-Assessee-Legal-Representative-Income-Tax-Proceedings-ITAT-taxscan.jpg "Son who did not Succeed Estate of Deceased Assessee cannot be Legal Representative during Income Tax Proceedings: ITAT [Read Order]")
![No Deduction u/s 80I(4) of Income Tax Act to be Allowed without Agreement between Assessee and Government /Statutory body: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Deduction-Income-Tax-Act-Allowed-Agreement-Assessee-Government-Statutory-body-ITAT-taxscan.jpg "No Deduction u/s 80I(4) of Income Tax Act to be Allowed without Agreement between Assessee and Government /Statutory body: ITAT [Read Order]")
![Mere reference of Assessee being a Contractor in Agreement does not Detract him from the Position of being a Developer: ITAT allows Benifits u/s 80IA(4) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Mere-reference-assessee-infrastructure-contractor-facility-allows-agreement-allows-detract-position-developer-ITAT-taxscan.jpg "Mere reference of Assessee being a Contractor in Agreement does not Detract him from the Position of being a Developer: ITAT allows Benifits u/s 80IA(4) of IT Act [Read Order]")
![Relief to Honda: ITAT allows Claim of Deduction of Expenses for Technical Know-How Services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-Honda-ITAT-Claim-Deduction-Expenses-Technical-Know-How-Services-TAXSCAN.jpg "Relief to Honda: ITAT allows Claim of Deduction of Expenses for Technical Know-How Services [Read Order]")
ITAT directs AO to set off Business Income with carry forward Business Loss on grounds of Assessee's Return becoming valid u/s 139(1) after defect was removed from Original Return
The Kolkata bench if the Income Tax Appellate Tribunal (ITAT) held that when original return filed is defective and the defect is removed under Section 139(9) of the Income Tax Act, the return filed...
Assessee is Responsible to Monitor GST portal on GST Registration Cancellation: Kerala HC upholds Cancellation of Registration [Read Order]
In a significant ruling the Kerala High Court upheld the cancellation of Goods and Service Tax (GST) Registration and ruled that the assessee is responsible to monitor GST portal on GST registration...
![Assessee is Responsible to Monitor GST portal on GST Registration Cancellation: Kerala HC upholds Cancellation of Registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessee-GST-portal-GST-Registration-Cancellation-GST-Cancellation-of-Registration-Kerala-High-Court-Taxscan.jpg "Assessee is Responsible to Monitor GST portal on GST Registration Cancellation: Kerala HC upholds Cancellation of Registration [Read Order]")
Additional Claim towards Customs Duty not allowable u/s 43B of Income Tax Act as Assessee not Obliged to Pay Customs Duty: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the additional claim towards the customs duty not allowable under Section 43B of the Income Tax Act 1961 as the asssessee was...
![Additional Claim towards Customs Duty not allowable u/s 43B of Income Tax Act as Assessee not Obliged to Pay Customs Duty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-Claim-Claim-Customs-Duty-Income-Tax-Act-Pay-Customs-Duty-Assessee-ITAT-taxscan.jpg "Additional Claim towards Customs Duty not allowable u/s 43B of Income Tax Act as Assessee not Obliged to Pay Customs Duty: ITAT [Read Order]")
No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that no addition could be made on the value of purchase of lands that are recorded in the books of account of assessee. Assessee, Om...
![No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/value-of-purchase-of-lands-purchase-of-lands-addition-Books-of-Account-of-Assessee-Books-of-Account-Assessee-taxscan.jpg "No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]")
No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that the assessee has successfully demonstrated source of cash deposit to its bank account during demonetization period thus no income...
![No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Assessee-Demonstrated-Source-of-Cash-Deposits-Cash-Deposits-Demonstrated-Source-Bank-Account-Demonitization-Period-ITAT-taxscan.jpg "No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]")
Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]
The Hyderabad bench of the Income Ta Appellate Tribunal (ITAT) held that the deduction under Section 80G of the Income Tax Act, 1961 can be claimed when the assessee satisfies all the conditions. ...
![Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-Income-Tax-Act-Assessee-Conditions-ITAT-taxscan.jpg "Deduction u/s 80G of Income Tax Act can be claimed when Assessee satisfies all the Conditions: ITAT [Read Order]")
Deeming Provision of Section 69 doesn't apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that the deeming provision of Section 69 of the Income Tax Act, 1961 doesn’t apply when the assessee provides a proper...
![Deeming Provision of Section 69 doesnt apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deeming-Provision-Assessee-proper-Explanation-Unrecorded-Sale-ITAT-TAXSCAN.jpg "Deeming Provision of Section 69 doesnt apply when Assessee provides a proper Explanation regarding Unrecorded Sale: ITAT [Read Order]")