![Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/liability-still-payable-Books-of-Account-ITAT-TAXSCAN.jpeg "Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]")
Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), held that Provisions of section 41(1) of the Income Tax Act, 1961 cannot apply when...
![Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Books-of-Account-Goodwill-Amalgamation-Depreciation-ITAT-taxscan.jpeg "Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]")
![Assessee has no liability to maintain Books of Account when availed the Presumptive Scheme u/s 44AD: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Books-of-Account-Presumptive-Scheme-ITAT-taxscan.jpeg "Assessee has no liability to maintain Books of Account when availed the Presumptive Scheme u/s 44AD: ITAT [Read Order]")
No Addition can be made on Estimated basis, without rejecting Books of Account of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Waseem Ahmed, Accountant Member and Siddhartha Nautiyal, Judicial Member held that no addition can be made on estimated basis,...
![No Addition can be made on Estimated basis, without rejecting Books of Account of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Books-of-Account-Assessee-ITAT-taxscan.jpeg "No Addition can be made on Estimated basis, without rejecting Books of Account of Assessee: ITAT [Read Order]")
Non-Maintenance of Books of Account would not attract Penalty u/s 271B: ITAT grants Relief to Developer [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Waseem Ahmed, Accountant Member, and Madhumita Roy, Judicial Member granted relief to Developer as non-maintenance of Books of...
![Non-Maintenance of Books of Account would not attract Penalty u/s 271B: ITAT grants Relief to Developer [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Books-of-Account-Penalty-ITAT-Developer-taxscan.jpeg "Non-Maintenance of Books of Account would not attract Penalty u/s 271B: ITAT grants Relief to Developer [Read Order]")
Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench has held that the addition of unexplained income u/s 69 is not sustainable in the presence of the duly audited regular books. The...
![Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/unexplained-income-audited-regular-books-ITAT-books-Taxscan.jpeg "Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]")
Rejection of Books of Account is a precondition for making reference to DVO: ITAT holds DVO report illegal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore held that, the report of the District Valuation Officer (DVO) was illegal on the ground that rejection of books of account is a precondition for...
![Rejection of Books of Account is a precondition for making reference to DVO: ITAT holds DVO report illegal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/books-of-account-DVO-ITAT-DVO-report-illegal-taxscan.jpeg "Rejection of Books of Account is a precondition for making reference to DVO: ITAT holds DVO report illegal [Read Order]")