![Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-Absence-of-Borrowed-Fund-Borrowed-Fund-Books-of-Accounts-Delhi-High-Court-TAXSCAN.jpg "Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]")
Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]
The revenue challenged the order passed by the Income Tax Appellate Tribunal about Assessment Year 2012-13. On advance notice, the...
![No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-investment-investment-books-of-Accounts-ITAT-Income-Tax-Addition-taxscan.jpg "No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]")
![Deduction Claimed u/s.36(1)(viia) Income Tax Act shall not exceed provision made for Bad and Doubtful Debts in Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Deduction-Income-Tax-Act-provision-Bad-Doubtful-Debts-books-of-accounts-ITAT-TAXSCAN.jpg "Deduction Claimed u/s.36(1)(viia) Income Tax Act shall not exceed provision made for Bad and Doubtful Debts in Books of Accounts: ITAT [Read Order]")
![Deduction on account of Bad Debts are allowable, if bad debt is Written Off as irrecoverable in books of accounts: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Deduction-account-Bad-Debts-Deduction-on-account-of-Bad-Debts-are-allowable-Written-Off-irrecoverable-taxscan.jpg "Deduction on account of Bad Debts are allowable, if bad debt is Written Off as irrecoverable in books of accounts: ITAT quashes Revision Order [Read Order]")
![No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-AO-Books-of-Accounts-ITAT-No-Addition-AO-without-Rejecting-Books-of-Accounts-ITAT-taxscan.jpg "No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]")
Refund of Non claim of Abatement cannot be Purely Treated as Refund of Excise Duty paid in excess u/s 11B of Excise Act: CESTAT [Read Order]
The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the refund of nonclaim of abatement cannot be purely treated as a refund of excise duty paid in...
![Refund of Non claim of Abatement cannot be Purely Treated as Refund of Excise Duty paid in excess u/s 11B of Excise Act: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Refund-of-Non-claim-Abatement-cannot-be-Purely-Treated-as-Refund-Excise-Duty-paid-in-excess-Excise-Act-CESTAT-TAXSCAN.jpg "Refund of Non claim of Abatement cannot be Purely Treated as Refund of Excise Duty paid in excess u/s 11B of Excise Act: CESTAT [Read Order]")
Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271B of the Income Tax Act 1961, would not be leviable when the assessee engaged in the business of...
![Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Leviable-Assessee-engaged-business-trading-financing-reality-commodities-Maintained-Books-Accounts-ITAT-TAXSCAN.jpg "Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]")
Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that there was defect and discrepencies in the books of account and thus upheld the decision of Commissioner of Income Tax (Appeals)...
![Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Rejection-Books-of-Account-Rejection-of-Books-of-Account-Rejection-of-Books-of-Account-by-AO-AO-CITA-ITAT-taxscan.jpg "Rejection of Books of Account by AO on Grounds of Defect and Discrepancies: ITAT Upholds the Decision of CIT(A) [Read Order]")
No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that no addition could be made on the value of purchase of lands that are recorded in the books of account of assessee. Assessee, Om...
![No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/value-of-purchase-of-lands-purchase-of-lands-addition-Books-of-Account-of-Assessee-Books-of-Account-Assessee-taxscan.jpg "No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]")
Cenvat Credit Available on Books of Accounts on Transfer of Ownership, Rule 10 of CCR Applicable: CESTAT [Read Order]
The Hyderabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), observed that Cenvat Credit is available on books of accounts on transfer of ownership and therefore Rule 10 of...
![Cenvat Credit Available on Books of Accounts on Transfer of Ownership, Rule 10 of CCR Applicable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Cenvat-Credit-Available-on-Books-of-Accounts-Transfer-of-Ownership-Books-of-Accounts-Cenvat-Credit-CCR-Applicable-CCR-CESTAT-taxscan.jpg "Cenvat Credit Available on Books of Accounts on Transfer of Ownership, Rule 10 of CCR Applicable: CESTAT [Read Order]")
ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench deleted additions made under Section 69 of the Income Tax Act, 1961 without detecting material to establish undisclosed transactions involving...
![ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-ncome-Tax-Act-material-to-establish-Undisclosed-Transactions-involving-Sale-Purchase-of-Gold-in-Cash-outside-Books-of-Accounts-TAXSCAN.jpg "ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]")