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Paramount - Assessee - depreciation - exchange fluctuation- assets - ITAT - Taxscan

Assessee entitled to Depreciation on Exchange Fluctuation on Assets acquired in India: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the assessee entitled to depreciation on exchange fluctuation in respect of assets...

Writ Petition not maintainable against Show Cause Notice under GST during Assessment Proceedings:...

Section 80P Deduction allowable to Co-Operative Credit Society as it is not a Co-Operative Bank:...

Income Tax: Affidavits from Family Members sufficient to prove Genuineness of Cash Gift, rules ITAT

ITAT upholds Addition on the basis of Confession made at the Time of Survey [Read Order]

Relief to Deloitte: Taxes paid at Maximum Marginal Rate, No Loss to Revenue for not charging Interest, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench observed that Deloitee Haskins and Sells paid taxes at maximum marginal rate, no loss to revenue for not charging interest. The assessee,...

ITAT affirms Assessment of Profit on Main Contract at 8% and Income from Sub-Contracts at 5%

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench affirmed the CIT(A) assessment of the profit on main contract at 8% and income from sub-contracts at 5%. The assessee, Dasaradha Rami...

TDS not applicable on Seconded Employees If the Same is Deducted by Holding Company: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while remitting the matter back to AO ruled that the TDS not applicable on seconded employees if the same is deducted by holding Company. The...

Relief to UHDE India: ITAT deletes Addition of Rs. 63.09 Cr. as Income [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the CIT(A) erred in confirming taxation of Rs.63.09 as income, in respect of contracts accounted under POC Method against UHDE India. ...

Deductions u/s. 10A, 10AA applicable on Profits of Business and not on Income from Other Sources: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench ruled that the deductions under section 10A and 10AA applicable on profits of the business and not on income from other sources. The assessee,...

Order of AO accepting suo-moto disallowance for bonus can’t be held to be erroneous: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur Bench ruled that the order of AO accepting suo-moto disallowance for bonus can not be held to be erroneous. The assessee, Ajmer Zila Dugdh Utpadak...

ITAT: Department cannot take up a new issue while filing Cross Objection [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has redefined the scope of filing Cross Objection on February 5th in a case where the revenue department attempted to take up a new issue in a cross...

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