![Insufficient Evidence to Prove Improvement Costs of Property: ITAT disallows Expense Claims [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Disallows-ITAT-Property-Expense-Claims-Income-Tax-Appellate-Tribunal-Prove-Improvement-Costs-ITAT-ahmedabad-taxscan.webp "Insufficient Evidence to Prove Improvement Costs of Property: ITAT disallows Expense Claims [Read Order]")
Insufficient Evidence to Prove Improvement Costs of Property: ITAT disallows Expense Claims [Read Order]
Income Tax Appellate Tribunal (ITAT), Ahmedabad “C” Bench, recently disallowed expense claims put forward by the appellant noting lack of proper...
![Failure to Deposit Advance Tax u/s 249(4)(b) of Income Tax Act due to Loss: ITAT remands Matter back to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-Income-Tax-Appellate-Authority-Income-Tax-Officer-TAXSCAN-4.jpg "Failure to Deposit Advance Tax u/s 249(4)(b) of Income Tax Act due to Loss: ITAT remands Matter back to CIT(A) [Read Order]")
![AO cannot Reject DCF Method For CCPS Valuation if it is made under Rule 11UA: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/AO-DCF-ITAT-ITAT-Deletes-Addition-Income-Tax-Appellate-Tribunal-ITAT-Ahmedabad-Revenue-department-taxscan.jpg "AO cannot Reject DCF Method For CCPS Valuation if it is made under Rule 11UA: ITAT deletes Addition [Read Order]")
![Failure to Issue Income Tax Notice u/s 143(2) Fatal and not Curable u/s 292B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-ITAT-Bangalore-Income-Tax-Notice-Section-1432-Income-tax-act-taxscan.jpg "Failure to Issue Income Tax Notice u/s 143(2) Fatal and not Curable u/s 292B: ITAT [Read Order]")
![ITAT directs TPO to exclude Companies with Turnover exceeding or below 10 times for Transfer Pricing Comparable Analysis [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Determination-of-ALP-Professional-Fee-AO-TPO-ITAT-Addition-transfer-pricing-adjustment-taxscan.jpg "ITAT directs TPO to exclude Companies with Turnover exceeding or below 10 times for Transfer Pricing Comparable Analysis [Read Order]")
Notice Issued u/s 148 of the Income Tax Act in the Name of a Dead Individual is Void From Beginning: ITAT [Read Order]
Recently, the Income Tax Appellate Tribunal ( ITAT) of Jaipur ruled in a case that involved the issuance of notice under Section 148 of the Income Tax Act 1961 (ITA) to a dead individual. ...
![Notice Issued u/s 148 of the Income Tax Act in the Name of a Dead Individual is Void From Beginning: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Act-ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-148-of-the-Income-Tax-Section-148-taxscan.jpeg "Notice Issued u/s 148 of the Income Tax Act in the Name of a Dead Individual is Void From Beginning: ITAT [Read Order]")
Addition u/s 69 of Income Tax Act Reduced without Considering Proper Evidences : ITAT Remands Matter Back to CIT(A) [Read Order]
The Ahmedabad bench of The Income Tax Appellate Tribunal ( ITAT ) recently allowed an appeal preferred by the Revenue against the decision made by Commissioner of Income Tax (Appeals) [ CIT (A) ]...
![Addition u/s 69 of Income Tax Act Reduced without Considering Proper Evidences : ITAT Remands Matter Back to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-Income-tax-act-Section-69-of-Income-Tax-Act-Addition-Reduction-taxscan.jpg "Addition u/s 69 of Income Tax Act Reduced without Considering Proper Evidences : ITAT Remands Matter Back to CIT(A) [Read Order]")
NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]
Recently, the Income Tax Appellate Authority ( ITAT ) of Delhi disallowed a bad debt deduction claim upholding the CIT(A)’s decision stating the loan provided by the NBFC to its sister concern was...
![NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/WhatsApp-Image-2024-08-05-at-11.58.26-AM.jpeg "NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]")
ITAT upholds Deletion of Additions for Unsecured Loans due to Insufficient Evidence u/s 68 and 69C of Income Tax Act [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld the deletion of additions made under sections 68 and 69C of the Income Tax Act, 1961, citing insufficient evidence to...
![ITAT upholds Deletion of Additions for Unsecured Loans due to Insufficient Evidence u/s 68 and 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Unsecured-Loans-Section-68-and-69C-of-Income-Tax-Act-taxscan.jpg "ITAT upholds Deletion of Additions for Unsecured Loans due to Insufficient Evidence u/s 68 and 69C of Income Tax Act [Read Order]")
ITAT allows Axis Bank’s Rs. 8.3 Cr Interest Expense Claim u/s 14A citing Previous Ruling [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT ) allowed the interest expense claim of Rs. 8.3 crore of Axis bank citing both Income tax. The bench ruled in favor of Axis Bank Ltd. on...
![ITAT allows Axis Bank’s Rs. 8.3 Cr Interest Expense Claim u/s 14A citing Previous Ruling [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-Income-Tax-News-Income-Tax-Department-ITAT-Ahmedabad-TAXSCAN.jpg "ITAT allows Axis Bank’s Rs. 8.3 Cr Interest Expense Claim u/s 14A citing Previous Ruling [Read Order]")
Income Tax Reassessment Initiation must be Evaluated Separately from AO's Post-Reopening Powers: Delhi HC [Read Order]
The Delhi High Court ruled that the validity of the initiation of reassessment under Sections 147 and 148 of the Income Tax Act must be evaluated independently, and should not be conflated with the...
![Income Tax Reassessment Initiation must be Evaluated Separately from AOs Post-Reopening Powers: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Income-Tax-Reassessment-Delhi-High-Court-Delhi-HC-TAXSCAN.jpeg "Income Tax Reassessment Initiation must be Evaluated Separately from AOs Post-Reopening Powers: Delhi HC [Read Order]")
Sharp Jump in Scrip Share Prices Justified for Shares in Demat Form: ITAT deletes Additions u/s 68 [Read Order]
The case of assessee was taken for scrutiny assessment by issuing a notice under section 143(2) of the Act, the appeal was filed by the assessee against the rejection of exemption claimed with...
![Sharp Jump in Scrip Share Prices Justified for Shares in Demat Form: ITAT deletes Additions u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-Scrip-Share-Prices-TAT-deletes-Additions-Taxscan.jpg "Sharp Jump in Scrip Share Prices Justified for Shares in Demat Form: ITAT deletes Additions u/s 68 [Read Order]")