![Failure to appeal before Lower Authorities due to sudden resignation of Accountant without intimation: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Ahmedabad-Income-Tax-sudden-resignation-Readjudication-taxscan.jpg "Failure to appeal before Lower Authorities due to sudden resignation of Accountant without intimation: ITAT directs Re adjudication [Read Order]")
Failure to appeal before Lower Authorities due to sudden resignation of Accountant without intimation: ITAT directs Re adjudication [Read Order]
The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) on account of failure to appeal before the lower authorities due to the sudden resignation...
![Non-Competition Fee received under Restrictive Covenants Restrains Source of Income: ITAT deletes Addition of Rs. 64 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Non-Competition-Fee-received-Restrictive-Covenants-Restrains-Source-Income-ITAT-TAXSCAN.jpg "Non-Competition Fee received under Restrictive Covenants Restrains Source of Income: ITAT deletes Addition of Rs. 64 Cr [Read Order]")
![AO fails to Implement DRP Directions while Passing Final Assessment Order: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Assessment-Order-Dispute-Resolution-Panel-DRP-Dispute-Resolution-Panel-guidelines-Taxscan.jpg "AO fails to Implement DRP Directions while Passing Final Assessment Order: ITAT quashes Assessment Order [Read Order]")
![No disallowance on basis of conjecture and surmises with respect to Diversion of profit from partnership firm to assessee company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Ahmedabad-ITAT-Income-Tax-ITAT-ruling-on-profit-diversion-Partnership-firm-profit-to-company-Taxscan.jpg "No disallowance on basis of conjecture and surmises with respect to Diversion of profit from partnership firm to assessee company: ITAT [Read Order]")
Expenses incurred for conducting clinical trials of Pharmaceuticals Companies outside organization allowable as deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) held that expenses incurred for conducting clinical trials of pharmaceuticals companies outside organization allowable as deduction under...
![Expenses incurred for conducting clinical trials of Pharmaceuticals Companies outside organization allowable as deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Ahmedabad-Income-Tax-Clinical-trial-expenses-Clinical-trials-taxscan.jpg "Expenses incurred for conducting clinical trials of Pharmaceuticals Companies outside organization allowable as deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]")
Interest on Non-Recovery of Loans Falls within Purview of Business Activity only, Not Income from Other Sources: ITAT directs Re-adjudication [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) directed re-adjudication, ruling that interest on non-recovery of loans falls within the purview of business activity only and not...
![Interest on Non-Recovery of Loans Falls within Purview of Business Activity only, Not Income from Other Sources: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Ahmedabad-Income-Tax-Re-adjudication-taxscan.jpg "Interest on Non-Recovery of Loans Falls within Purview of Business Activity only, Not Income from Other Sources: ITAT directs Re-adjudication [Read Order]")
Income Tax Authorities Fails to Appreciate Amended Provision of S. 36(1) ( iia ) of Income Tax Act, Denies Additional Depreciation Claim:Â ITAT allows claim of Rs. 49.5 cr [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a claim of Rs. 49.5 crore after finding that the Income Tax Authorities failed to appreciate the amended provision of Section...
![Income Tax Authorities Fails to Appreciate Amended Provision of S. 36(1) ( iia ) of Income Tax Act, Denies Additional Depreciation Claim:Â ITAT allows claim of Rs. 49.5 cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Ahmedabad-ITAT-Income-Tax-Authorities-Income-Tax-authorities-and-depreciation-claims-Tax-deductions-and-additional-depreciation-Taxscan.jpg "Income Tax Authorities Fails to Appreciate Amended Provision of S. 36(1) ( iia ) of Income Tax Act, Denies Additional Depreciation Claim:Â ITAT allows claim of Rs. 49.5 cr [Read Order]")
ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) upheld that transfer pricing adjustment made on purchase consideration paid under the scheme of amalgamation entered with the holding company. ...
![ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Transfer-Pricing-Adjustment-Scheme-of-Amalgamation-taxscan.jpg "ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]")
Failure to provide proper reason with respect to Escapement of Income regarding investment in House Construction: ITAT quashes Reassessment Proceedings [Read Order]
The Delhi bench, Income Tax Appellate Tribunal (ITAT)Â while quashing the reassessment proceedings held that the Assessing officer failure to provide proper reason with respect to escapement of...
![Failure to provide proper reason with respect to Escapement of Income regarding investment in House Construction: ITAT quashes Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Failure-Failure-to-provide-proper-reason-Escapement-of-Income-House-Construction-taxscan.jpg "Failure to provide proper reason with respect to Escapement of Income regarding investment in House Construction: ITAT quashes Reassessment Proceedings [Read Order]")
Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal( ITAT )has held that addition under section 68 is invalid when the creditworthiness of money was proved by a balance sheet showing legitimate fund...
![Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-Legitimate-fund-transfers-and-tax-implications-Balance-sheet-proof-for-Section-68-cases-Taxscan.jpg "Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]")
ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) decision to uphold the genuine nature of Sunrise Asian share sales resulted in granting Long Term Capital Gain (LTCG) claims under Section...
![ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-upholds-Genuine-Nature-of-Sunrise-Asian-Share-Sales-Sunrise-Asian-Share-Sales-taxscan.jpg "ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]")