![An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Claim-Deduction-Concealment-of-Income-ITAT-Penalty-taxscan.jpg "An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]")
An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that an unlawful claim for deduction would not amount to “concealment of income” in...
![Assessee failed to prove Creditworthiness of Creditors: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-Creditworthiness-Creditors-ITAT-taxscan.jpeg "Assessee failed to prove Creditworthiness of Creditors: ITAT upholds Addition u/s 68 [Read Order]")
![TDS Refund appeared in Form 26-AS cannot be denied to Assessee Even If the same is Effected during Previous Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/TDS-Refund-Assessee-Previous-Year-ITAT-Taxscan.jpeg "TDS Refund appeared in Form 26-AS cannot be denied to Assessee Even If the same is Effected during Previous Year: ITAT [Read Order]")
![Notice u/s 143(2) issued beyond period of Statutory Limitation, is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Notice-Statutory-limitation-ITAT-taxscan.jpeg "Notice u/s 143(2) issued beyond period of Statutory Limitation, is invalid: ITAT [Read Order]")
Illegal and Arbitrary Recovery of Income Tax Dues ignoring Appeal filed by Assessee: Rajasthan HC slams Dept, imposes Rs. 50k Cost [Read Order]
“This Court also holds that the action of recovery on the part of the respondents was de-hors the statutory provisions specified under Section 220(6), 245 of the IT Act and was without jurisdiction...
![Illegal and Arbitrary Recovery of Income Tax Dues ignoring Appeal filed by Assessee: Rajasthan HC slams Dept, imposes Rs. 50k Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Illegal-Arbitrary-Recovery-Income-Tax-Appeal-Assessee-Rajasthan-HC-Cost-Taxscan.jpeg "Illegal and Arbitrary Recovery of Income Tax Dues ignoring Appeal filed by Assessee: Rajasthan HC slams Dept, imposes Rs. 50k Cost [Read Order]")
Retrospective Effect of Amendment to Sec 36(1) is Debatable and Controversial Issue: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench comprising Shri Saktijit Dey, JM&ShriAnadee NathMishra, AMhas held that the retrospective effect of the amendment to section 36(1) is a...
![Retrospective Effect of Amendment to Sec 36(1) is Debatable and Controversial Issue: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Amendment-ITAT-Addition-taxscan.jpeg "Retrospective Effect of Amendment to Sec 36(1) is Debatable and Controversial Issue: ITAT deletes Addition [Read Order]")
Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the income from share transactions shall be treated as business income under the provisions of the Income Tax Act, 1961 since the...
![Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Sale-Trading-Business-Income-Assessee-Previous-Years-ITAT-Taxscan.jpeg "Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]")
Assessee failed to provide Call Log Details to prove Telephone Expenses: ITAT upholds Disallowance [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has upheld an order disallowing telephone expenses claimed as business expenditure by on the ground that the assessee failed to provide call log...
![Assessee failed to provide Call Log Details to prove Telephone Expenses: ITAT upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-Call-Log-Details-Telephone-Expenses-ITAT-Disallowance-taxscan.jpg "Assessee failed to provide Call Log Details to prove Telephone Expenses: ITAT upholds Disallowance [Read Order]")
Estimated Project Cost Calculated as per provision of Water and Air Act: ITAT upholds Deletion of Additional Income [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that estimated project cost calculated as per provision of Water and Air Act and upholds the deletion of Additional income. ...
![Estimated Project Cost Calculated as per provision of Water and Air Act: ITAT upholds Deletion of Additional Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Project-Cost-Calculated-Water-Air-Act-ITAT-Deletion-Additional-Income-Taxscan.jpeg "Estimated Project Cost Calculated as per provision of Water and Air Act: ITAT upholds Deletion of Additional Income [Read Order]")
Assessee engaged in Generation and Selling of Power can claim Deduction u/s801 of ITA: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench consisting of DR. BRR Kumar, Accountant Member, and Yogesh Kumar U.S., Judicial Member held that assessee engaged in generation and selling of...
![Assessee engaged in Generation and Selling of Power can claim Deduction u/s801 of ITA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-selling-of-power-claim-deduction-ITA-ITAT-taxscan.jpeg "Assessee engaged in Generation and Selling of Power can claim Deduction u/s801 of ITA: ITAT [Read Order]")
Income Tax Penalty cannot be levied on Voluntarily Surrendered Income during Survey: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the income tax penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied on assessee since he surrendered the...
![Income Tax Penalty cannot be levied on Voluntarily Surrendered Income during Survey: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Penalty-levied-Voluntarily-surrendered-Income-Survey-ITAT-Taxscan.jpg "Income Tax Penalty cannot be levied on Voluntarily Surrendered Income during Survey: ITAT [Read Order]")