![Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expenses-Payment-Parent-Company-Shares-Shares-to-Employees-Assessee-Deduction-ITAT-Income-Tax-taxscan-.jpg "Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]")
Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred as payment to parent company that issued shares to...
![No Addition in respect of Un-signed, Unstamped, Satakhat and is found from CD of computer of a Third Person Not related to Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/respect-Un-signed-Unstamped-Satakhat-CD-of-computer-Assessee-ITAT-TAXSCAN-1.jpg "No Addition in respect of Un-signed, Unstamped, Satakhat and is found from CD of computer of a Third Person Not related to Assessee: ITAT [Read Order]")
![ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-ITAT-deletes-Disallowance-assessee-payment-payment-in-cash-seller-Income-Tax-taxscan-.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]")
![Assessee cannot be denied relief under SVLDR Scheme for non-formation of Committee: Supreme Court overrules judgment of Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/SVLDR-Scheme-non-formation-Supreme-Court-judgement-Allahabad-HC-TAXSCAN.jpg "Assessee cannot be denied relief under SVLDR Scheme for non-formation of Committee: Supreme Court overrules judgment of Allahabad HC [Read Order]")
![Assessee claimed Deduction under Wrong Section,Tax Department cant take advantage on the Right of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Assessee-claimed-Deduction-under-Wrong-Section-Tax-Department-advantage-on-the-Right-of-Assessee-ITAT-TAXSCAN.jpg "Assessee claimed Deduction under Wrong Section,Tax Department cant take advantage on the Right of Assessee: ITAT [Read Order]")
The Fact that Period of Limitation will start only from Date of Constitution of GST Tribunal is No Solace to Assessee: Kerala HC Allows Writ Petition against GST Order [Read Order]
The Kerala High Court, in a recent order, decided a writ petition challenging GST order on merits under Article 226 of the Constitution considering the fact that the GST Tribunal is not constituted...
![The Fact that Period of Limitation will start only from Date of Constitution of GST Tribunal is No Solace to Assessee: Kerala HC Allows Writ Petition against GST Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/GST-Tribunal-GST-Order-GST-Kerala-High-Court-Writ-Petition-Period-of-Limitation-Assessee-Taxscan.jpg "The Fact that Period of Limitation will start only from Date of Constitution of GST Tribunal is No Solace to Assessee: Kerala HC Allows Writ Petition against GST Order [Read Order]")
![Interest Income not to be assessed When Assessee is Non-Resident: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Income-Interest-Income-Assessee-ITAT-Income-tax-taxscan.jpg "Interest Income not to be assessed When Assessee is Non-Resident: ITAT [Read Order]")
Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur bench has deleted an addition treating LIC premium as unexplained cash deposit by accepting the rough notings by the assessee as actual transactions. ...
![Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-assessee-actual-transactions-LIC-Premium-taxscan.jpeg "Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]")
Failure to Avail Transitional Credit Manually and Online: Gauhati HC directs Assessee to Avail Benefit of Re-opening of GST Portal [Read Order]
In a relief to the taxpayers who could not avail the GST transitional credit due to technical glitches on the portal and thereafter manually, the Gauhati High Court has directed the assessee to avail...
![Failure to Avail Transitional Credit Manually and Online: Gauhati HC directs Assessee to Avail Benefit of Re-opening of GST Portal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Transitional-Credit-Gauhati-HC-Assessee-Benefit-gst-portal-GST-Re-opening-of-GST-Portal-taxscan.jpg "Failure to Avail Transitional Credit Manually and Online: Gauhati HC directs Assessee to Avail Benefit of Re-opening of GST Portal [Read Order]")
No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held in partial relief to the assessee that, it was erroneous to invoke Section 40A(3) of the Income Tax Act, 1961 and disallow...
![No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/material-disallowance-ITAT-AO-Purchases-TAXSCAN.jpg "No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]")
No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, while deciding few appeals filed before it, held that no addition can sustain unless an opportunity of cross examination is given...
![No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Sustain-Cross-Examination-Assessee-Addition-Third-Party-Statement-ITAT-taxscan.jpg "No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]")
ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read Order]
The upward adjustment on international transactions for “payments of interest on Fully Convertible Debentures (FCD)” was deleted by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). ...
![ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/ITAT-international-transactions-Payments-Interest-FCDs-taxscan.jpg "ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read Order]")