![Expenses incurred for Import of Rubber Process Oil eligible for Deduction u/s 37(1) Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-incurred-for-Import-of-Rubber-Process-Oil-eligible-for-Deduction-Expenses-incurred-Expenses-Rubber-Process-Oil-Deduction-Income-Tax-Act-ITAT-Taxscan.jpg "Expenses incurred for Import of Rubber Process Oil eligible for Deduction u/s 37(1) Income Tax Act: ITAT [Read Order]")
Expenses incurred for Import of Rubber Process Oil eligible for Deduction u/s 37(1) Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that expenses incurred for import of rubber process oil is eligible for...
![ITAT deletes Addition Based on Compliance with Donation Records u/s 115BBC of the Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Addition-Based-on-Compliance-with-Donation-Records-ITAT-deletes-Addition-ITAT-Addition-Income-Tax-Act-Donation-Donation-Records-Taxscan.jpg "ITAT deletes Addition Based on Compliance with Donation Records u/s 115BBC of the Income Tax Act [Read Order]")
![ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Reopening-of-Assessment-ITAT-Reopening-of-Assessment-Assessment-Lack-of-Live-Nexus-Live-Nexus-Assessing-Officer-taxscan.jpg "ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]")
![Assessing Officer has Right to Control the Conduct of Cross Examination During Income Tax Proceedings: Jharkhand HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessing-Officer-has-Right-to-Control-the-Conduct-of-Cross-Examination-Assessing-Officer-Cross-Examination-During-Income-Tax-Proceedings-Income-Tax-Proceedings-Jharkhand-High-Court-Taxscan.jpg "Assessing Officer has Right to Control the Conduct of Cross Examination During Income Tax Proceedings: Jharkhand HC [Read Order]")
![Brought Forward Losses can be Adjusted Against Belatedly filed ITR u/s 139(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Brought-Forward-Losses-Adjusted-Against-Belatedly-filed-ITR-ITAT-TAXSCAN.jpg "Brought Forward Losses can be Adjusted Against Belatedly filed ITR u/s 139(3): ITAT [Read Order]")
Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]
The Two Bench of Justices M.R. Shah and B.V. Nagarathna of the Supreme Court invalidated the decisions of the Income Tax Appellate Tribunal (ITAT) and the Bombay High Court in order to uphold that...
![Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Assets-Transfer-of-development-rights-Supreme-Court-Bombay-High-Court-Judgment-Stock-in-trade-Transfer-of-Development-Rights-by-Builder-is-Transfer-of-Capital-Assets-Taxscan.jpg "Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]")
Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]
The Supreme Court of India in its recent judgement upheld the order of the Income Tax Appellate Tribunal (ITAT) and Assessing Officer (AO) since the court found that Gujarat High Court quashed the...
![Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Gujarat-HC-quashed-the-Addition-of-Unexplained-Income-Gujarat-High-Court-Addition-of-Unexplained-Income-without-Detailed-Enquiry-Addition-of-Unexplained-Income-Unexplained-Income-Taxscan.jpg "Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]")
![Penalty under Section 270A cannot be Levied on Estimated Disallowance: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Estimated-Disallowance-ITAT-Disallowance-Taxscan.jpg "Penalty under Section 270A cannot be Levied on Estimated Disallowance: ITAT [Read Order]")
Notice u/s 148 of Income Tax Act lacks record of ‘reasons to believe’ for initiating Proceedings: ITAT quashes Re-assessment Order [Read Order]
“Since the jurisdictional issue has been held in favour of the assessee, holding assessment order as not sustainable”, stated the Kolkata bench of Income Tax Appellate Tribunal (ITAT) The bench...
![Notice u/s 148 of Income Tax Act lacks record of ‘reasons to believe’ for initiating Proceedings: ITAT quashes Re-assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Tax-Act-reasons-to-believe-proceedings-ITAT-Re-assessment-Order-taxscan.jpg "Notice u/s 148 of Income Tax Act lacks record of ‘reasons to believe’ for initiating Proceedings: ITAT quashes Re-assessment Order [Read Order]")
