![ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-on-account-Bad-Debts-claimed-in-Profit-and-Loss-Account-TAXSCAN.jpg "ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]")
ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently deleted the addition on account of bad debts claimed in Profit and loss...
![Penalty u/s 271AAB shall not be levied if search u/s 153A not conducted in Premises of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-shall-not-be-levied-not-conducted-in-Premises-of-Assessee-ITAT-TAXSCAN.jpg "Penalty u/s 271AAB shall not be levied if search u/s 153A not conducted in Premises of Assessee: ITAT [Read Order]")
![Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Indexation-of-Cost-of-Acquisition-for-calculation-of-LTCG-is-available-from-the-AY-which-Consideration-is-fully-paid-by-Assessee-ITAT.jpg "Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]")
![Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Relief-to-Reliance-Infrastructure-Limited-ITAT-TAXSCAN.jpg "Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]")
![Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Receipt-under-TUFS-Scheme-Capital-in-Nature-needs-to-be-Excluded-While-Working-out-Book-Profits-ITAT-TAXSCAN.jpg "Interest Receipt under TUFS Scheme is Capital in Nature, needs to be Excluded While Working out Book Profits u/s 115JB: ITAT [Read Order]")
Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has denied exemption under Section 10(38) of the Income Tax Act 1961 holding that the assessee is lawfully bound to prove huge long term...
![Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessee-Lawfully-Bound-Prove-Huge-Long-Term-Capital-Gain-Claims-to-be-Genuine-ITAT-TAXSCAN.jpg "Assessee Lawfully Bound to Prove Huge Long Term Capital Gain Claims to be Genuine: ITAT Denies Exemption u/s 10(38) [Read Order]")
No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]
The New Delhi bench of Income Tax Appellate Tribunal(ITAT) held that addition of long term capital gain can be made by the assessing officer under Section 69A of Income Tax Act, 1961 on account of...
![No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-addition-of-LTCG-account-of-alleged-unexplained-investment-in-jewellery-ITAT-TAXSCAN.jpg "No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]")
No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that no penalty under section 271 (1) can be imposed when income surrendered by the...
![No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/when-Income-Surrendered-Assessee-During-Survey-in-Regular-Income-Tax-Return-Filed-within-Prescribed-Time-ITAT-TAXSCAN.jpg "No Penalty can be Imposed u/s 271(1) when Income Surrendered by Assessee During Survey is Shown in Regular Income-Tax Return Filed within Prescribed Time: ITAT [Read Order]")
No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]
The Indore bench of Income Tax Appellate Tribunal (ITAT) has recently while quashing the assessment order passed under Section 143(3) of Income Tax Act 1961 observed that there is no notice...
![No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Notice-issued-and-served-within-prescribed-time-limit-ITAT-TAXSCAN.jpg "No Notice u/s 143(2) issued and Served within prescribed Time Limit: ITAT quashes Assessment Order passed u/s 143(3) of Income Tax Act [Read Order]")
ITAT Denies Exemption u/s 10(23C)(vi) of Income Tax Act on not Existing Solely for Purposes of Education [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), denied income tax exemption under Section 10(23C)(vi) of the Income Tax Act on not existing solely for purposes of education. The...
![ITAT Denies Exemption u/s 10(23C)(vi) of Income Tax Act on not Existing Solely for Purposes of Education [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Denies-Exemption-Income-Tax-Act-on-not-Existing-Solely-for-Purposes-of-Education-ITAT-TAXSCAN.jpg "ITAT Denies Exemption u/s 10(23C)(vi) of Income Tax Act on not Existing Solely for Purposes of Education [Read Order]")
Dept. Fails to Submit Contradictory view to CIT(A)'s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on failure of the department to submit a contradict view to the CIT(A)’s decision, confirmed the...
![Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Dept.-Fails-to-Submit-Contradictory-view-Decision-ITAT-allows-Depreciation-Expenses-on-Crates-ITAT-TAXSCAN.jpg "Dept. Fails to Submit Contradictory view to CIT(A)s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]")
![ITAT deletes ex parte Addition u/s 68 of Income Tax Act made during COVID 19 Pandemic [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Customs-Duty-No-Customs-Duty-on-Import-Import-Covid-19-Vaccine-Covid-19-Vaccine-to-India-CBIC-Import-taxscan.jpg "ITAT deletes ex parte Addition u/s 68 of Income Tax Act made during COVID 19 Pandemic [Read Order]")