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Brand Name, Trademark, Know-How are Assets for the purpose of Computing Capital Gain: ITAT Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that assets like brand name, know-how, trademark, etc, can be treated as assets...

Exemption can’t be denied to Trust merely on ground of Non-Submission of Form 10 Online: ITAT [Read...

Purchase of Property in the name of Son eligible for Capital Gain Exemption: ITAT [Read Order]

Security Deposit Taxable on the Year of Termination of Dealership Agreement: ITAT [Read Order]

ITAT deletes Late Fee on TDS Default since effective date of amendment of S. 234E is 01.06.2015...

'Audi Alteram Partem' Concept is a must for Tax Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the concept of “Audi alteram partem” being an essential element to preserve natural justice, should be followed in the tax...

Enhanced Sale Consideration u/s 50C can’t be taken to determine Capital Gain Exemption: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the sale consideration enhanced by invoking section 50C of the Income Tax Act, 1961 cannot be extended to computation under...

Payment to Football Players is based on their Talent and Capacity: ITAT grants relief to Mohan Bagan [Read Order]

While granting tax relief to Kolkata based professional football team, the Income Tax Appellate Tribunal (ITAT) observed that the payments to the professional football players are truly based on their...

Unsigned Balance Sheets are not admissible as Evidence: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), has held that the unsigned balance sheets by Auditor or the Director of Company cannot be treated as reliable evidence. The Assessing...

Reimbursement of Vehicle Expenses by Cab Owners not subject to TDS: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the payments made by the cab owners which are in the nature of reimbursement of vehicle expenses to the assessee cannot be...

Mere Statements can’t be considered as Incriminating Material or Documentary Evidence: Madhya Pradesh HC

The Madhya Pradesh High Court has held that the unexplained investments were made by the Assessing Officer merely on the basis of the statements given during the course of the survey and that there is...

ITAT allows Deduction of Expenses incurred for Beautification and Maintenance of Hotel to preserve Three-Star Classification [Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the expenses incurred by a hotel for its beautification and maintenance are allowable as business expenditure. ...

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