![Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Income-Tax-Act-assessee-identity-creditworthiness-lenders-respect-loan-purchase-property-ITAT-TAXSCAN.jpg "Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]")
Addition u/s 69 of Income Tax Act shall not be made, if assessee proves identity and creditworthiness of lenders in respect of loan taken for purchase of property: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that Income Tax Addition under Section 69 of the Income Tax Act, 1961 should not be made if...
![Undisputed Source of Cash Deposits in Bank Account during Demonetization: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Undisputed-Source-of-Cash-Deposits-Source-of-Cash-Deposits-Bank-Account-ITAT-deletes-Income-Tax-Addition-ITAT-taxscan.jpg "Undisputed Source of Cash Deposits in Bank Account during Demonetization: ITAT deletes Income Tax Addition [Read Order]")
![AO not justified in comparing market value of land for distress sale, which is less than that of the stamp duty value: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AO-market-value-land-distress-sale-stamp-duty-value-ITAT-Addition-TAXSCAN.jpg "AO not justified in comparing market value of land for distress sale, which is less than that of the stamp duty value: ITAT deletes Addition [Read Order]")
Income from sub licensing software for healthcare business in India Shall not be taxed as Business Income under India – USA DTAA due to absence of PE: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that the Income from sub licensing software for the healthcare business in India should not be taxed under Business Income due to...
![Income from sub licensing software for healthcare business in India Shall not be taxed as Business Income under India – USA DTAA due to absence of PE: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-sub-licensing-software-healthcare-business-India-Business-Income-India-USA-DTAA-PE-ITAT-TAXSCAN.jpg "Income from sub licensing software for healthcare business in India Shall not be taxed as Business Income under India – USA DTAA due to absence of PE: ITAT [Read Order]")
Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed payments of Tax Deducted at Source (TDS) under Section 201(1A) of the Income Tax Act, 1961 is not...
![Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Interest-Paid-on-Delayed-Payment-of-TDS-Interest-Payment-of-TDS-TDS-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]")
Deduction u/s 11 of Income Tax Act shall not be denied, if Audit Report filed along with Return of Income is available in during assessment proceedings: ITAT upholds Order of CIT(A) [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that deduction under Section 11 of Income Tax Act, 1961 should not be denied, if an audit report filed along with return of income is...
![Deduction u/s 11 of Income Tax Act shall not be denied, if Audit Report filed along with Return of Income is available in during assessment proceedings: ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-Income-Tax-Act-denied-Audit-Report-Return-Income-available-assessment-proceedings-ITAT-TAXSCAN.jpg "Deduction u/s 11 of Income Tax Act shall not be denied, if Audit Report filed along with Return of Income is available in during assessment proceedings: ITAT upholds Order of CIT(A) [Read Order]")
When Property claimed differs from Property referred in Sale Agreement, benefit u/s 54 of Income Tax Act can't be attracted: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that when the property claimed is different from the property referred to in the sale agreement then benefit under Section 54 of the...
![When Property claimed differs from Property referred in Sale Agreement, benefit u/s 54 of Income Tax Act cant be attracted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Property-Property-Sale-Agreement-Income-Tax-Act-ITAT-TAXSCAN.jpg "When Property claimed differs from Property referred in Sale Agreement, benefit u/s 54 of Income Tax Act cant be attracted: ITAT [Read Order]")
GE Energy did not have any PE in India as No Expatriate Employee Present in India in Impugned Assessment Years: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that GE Energy Parts did not have any permanent establishment in India as no expatriate employee was present in India during the...
![GE Energy did not have any PE in India as No Expatriate Employee Present in India in Impugned Assessment Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/GE-Energy-GE-Energy-did-not-have-any-PE-in-India-as-No-Expatriate-Employee-Present-in-India-Employee-Assessment-Years-ITAT-Taxscan.jpg "GE Energy did not have any PE in India as No Expatriate Employee Present in India in Impugned Assessment Years: ITAT [Read Order]")
Failure to Explain Genuineness of Cash Payment for Purchase of Property by Firm: ITAT uphold Income Tax Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the tax authorities were justified in adding income to the assessee's return due to inadequate evidence for cash payments...
![Failure to Explain Genuineness of Cash Payment for Purchase of Property by Firm: ITAT uphold Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Failure-Genuineness-Cash-Payment-Purchase-Property-Firm-ITAT-Income-Tax-TAXSCAN.jpg "Failure to Explain Genuineness of Cash Payment for Purchase of Property by Firm: ITAT uphold Income Tax Addition [Read Order]")