![Entire Purchases can’t be Disallowed as Bogus, If AO accepted Sales: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/05/Bombay-High-Court-NAA-Taxscan.jpg "Entire Purchases can’t be Disallowed as Bogus, If AO accepted Sales: Bombay HC [Read Judgment]")
Entire Purchases can’t be Disallowed as Bogus, If AO accepted Sales: Bombay HC [Read Judgment]
The High Court of Bombay held that though genuineness of the purchases and sales were not proved, yet it was noted that the Assessing Officer(AO) had...
![Outstanding Sum of Invoices akin to Loan Advanced by assessee to Foreign AE is an International Transaction, AO can’t make Separate Additions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/ITAT-foreign-AE-assessee-Sum-Invoices-Taxscan.jpg "Outstanding Sum of Invoices akin to Loan Advanced by assessee to Foreign AE is an International Transaction, AO can’t make Separate Additions: ITAT [Read Order]")
![Voluntary Transfer Pricing adjustment eligible for Income Tax Deduction u/s 10AA: ITAT grants Relief to EY [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/WhatsApp-Image-2020-05-14-at-3.03.35-PM.jpeg "Voluntary Transfer Pricing adjustment eligible for Income Tax Deduction u/s 10AA: ITAT grants Relief to EY [Read Order]")
![Professional Fee received in Cash Deposited to bank Account cannot be suspected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Professional-Fee-ITAT-Cash-Deposited-Taxscan.jpg "Professional Fee received in Cash Deposited to bank Account cannot be suspected: ITAT [Read Order]")
![Depreciation can’t be claimed on Undivided Share of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Depreciation-ITAT-Undivided-Share-Taxscan.jpg "Depreciation can’t be claimed on Undivided Share of Land: ITAT [Read Order]")
No TDS on Sale of Recharge Vouchers and Pre-Paid Vouchers to Distributors: ITAT grants relief to Vodafone [Read Order]
In a ruling granting TDS relief to the telecom giants, Vodafone, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that TDS provisions under section 194H of the Income Tax Act, 1961...
![No TDS on Sale of Recharge Vouchers and Pre-Paid Vouchers to Distributors: ITAT grants relief to Vodafone [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Vodafone-TDS-ITAT-Taxscan.jpg "No TDS on Sale of Recharge Vouchers and Pre-Paid Vouchers to Distributors: ITAT grants relief to Vodafone [Read Order]")
Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]
In a significant ruling, the Apex Court, while upholding the view of the High Court held that the satisfaction note by the Assessing Officer(AO) clearly states that the documents so seized belonged to...
![Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Anti-Profiteering-Measure-Supreme-Court-Taxscan.jpg "Satisfaction Note by AO that Documents belong to Other Person is enough to proceed against such Person u/s 153C: SC [Read Judgment]")
Adverse Exchange Rate of Rupee is part of Export Turnover, Eligible for Relief: Calcutta HC [Read Order]
The High Court of Calcutta held that extra realization made in rupees for export sale proceeds in foreign exchange due to adverse exchange rate of rupee would be part of the export turnover in the...
![Adverse Exchange Rate of Rupee is part of Export Turnover, Eligible for Relief: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/11/Foreign-Exchange-ITAT-Taxscan.jpg "Adverse Exchange Rate of Rupee is part of Export Turnover, Eligible for Relief: Calcutta HC [Read Order]")
No Jurisdiction of AO in Reopening of Assessment after 4 years by Reason of Failure on part of assessee: Madras HC [Read Judgment]
The High Court of Madras held that there is no jurisdiction of Assessing officer (AO) in the reopening of Assessment after 4 years by reason of failure on part of the assessee. The Assessing Officer,...
![No Jurisdiction of AO in Reopening of Assessment after 4 years by Reason of Failure on part of assessee: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/05/AO-Assessment-Jurisdiction-Taxscan.jpg "No Jurisdiction of AO in Reopening of Assessment after 4 years by Reason of Failure on part of assessee: Madras HC [Read Judgment]")
Transfer of Shares being a Family Arrangement can’t be treated as Gift or Perquisites: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, in a significant ruling, held that the transfer of shares, being a family arrangement, cannot be treated as a gift or prerequisite for the...
![Transfer of Shares being a Family Arrangement can’t be treated as Gift or Perquisites: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Shares-ITAT-Family-Taxscan.jpg "Transfer of Shares being a Family Arrangement can’t be treated as Gift or Perquisites: ITAT deletes Addition [Read Order]")
![No Exempt Income Received or Receivable, No Disallowance under Section 14A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/11/Income-Tax-Taxscan.jpg "No Exempt Income Received or Receivable, No Disallowance under Section 14A: ITAT [Read Order]")
