![Assessee fails to Explain Drastic Decrease of Share Rate from Rs.5.6 cr to Rs.15 lakhs: ITAT holds Transaction as Bogus and upholds Disallowance of Short-Term Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Share-rate-ITAT-Transaction-Bogus-uphold-Disallowance-Short-Term-Capital-Loss-taxscan.jpg "Assessee fails to Explain Drastic Decrease of Share Rate from Rs.5.6 cr to Rs.15 lakhs: ITAT holds Transaction as Bogus and upholds Disallowance of Short-Term Capital Loss [Read Order]")
Assessee fails to Explain Drastic Decrease of Share Rate from Rs.5.6 cr to Rs.15 lakhs: ITAT holds Transaction as Bogus and upholds Disallowance of Short-Term Capital Loss [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal presided by Mr. Chandra Poojari, Accountant Member and Mr. George George K, Judicial Member has...
![Mis-Declaration of Capital Loss as Business Loss does not lead to Concealments of Income, Penalty u/s 271(1)(c) not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/capital-loss-business-loss-concealments-of-income-Penalty-ITAT-taxscan.jpeg "Mis-Declaration of Capital Loss as Business Loss does not lead to Concealments of Income, Penalty u/s 271(1)(c) not sustainable: ITAT [Read Order]")
![Relief to Benetton India: ITAT allows Business Loss incurred on Forfeiture of Rental Security Deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Benetton-India-ITAT-BusinessLoss-Rental-Security-Deposits-taxscan.jpeg "Relief to Benetton India: ITAT allows Business Loss incurred on Forfeiture of Rental Security Deposits [Read Order]")
![Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Carry-Forward-Business-Loss-denied-Statutory-Audit-Tax-Audit-ITAT-Taxscan.jpg "Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]")
![ITAT allows Business Loss including an Amount paid as Managerial Remuneration as it is included in Business Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/ITAT-business-loss-Business-Expenses-Taxscan.jpg "ITAT allows Business Loss including an Amount paid as Managerial Remuneration as it is included in Business Expenses [Read Order]")
![Accumulation of Expenses cannot be treated as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/08/Accumulation-of-expenses-business-loss-ITAT-Taxscan.jpg "Accumulation of Expenses cannot be treated as Business Loss: ITAT [Read Order]")
Relief to Karnataka Bank: Foreign Exchange Loss while implementing Export Contract is a Business Loss, affirms HC [Read Order]
In a major relief to the Karnataka Bank, the Karnataka High Court reiterated that the Foreign exchange loss while implementing the export contract is a business loss. The assessee, Karnataka Bank...
![Relief to Karnataka Bank: Foreign Exchange Loss while implementing Export Contract is a Business Loss, affirms HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/08/Karnataka-Bank-Foreign-export-contract-business-loss-Taxscan.jpeg "Relief to Karnataka Bank: Foreign Exchange Loss while implementing Export Contract is a Business Loss, affirms HC [Read Order]")
ITAT: Business Loss incurred by Lottery Ticket distributors after exclusion of Prize Money from Net Profit eligible for set-off [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai has ruled that business loss incurred by the Lottery Ticket Distributors after exclusion of prize money from net profit is eligible for set-off against...
![ITAT: Business Loss incurred by Lottery Ticket distributors after exclusion of Prize Money from Net Profit eligible for set-off [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/ITAT-Business-loss-Lottery-ticket-distributors-Taxscan.jpg "ITAT: Business Loss incurred by Lottery Ticket distributors after exclusion of Prize Money from Net Profit eligible for set-off [Read Order]")
Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while deleting the penalty ruled that change in nature of loss from business loss to speculative loss is not enough to impose a penalty. The...
![Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/business-loss-speculative-loss-ITAT-penalty-Taxscan.jpg "Change in Nature of Loss from Business Loss to Speculative Loss not enough to impose Penalty: ITAT [Read Order]")
![Losses incurred by eligible units can’t be set off against income of other units: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Losses-eligible-units-income-of-other-units-ITAT-Taxscan-1.jpg "Losses incurred by eligible units can’t be set off against income of other units: ITAT [Read Order]")
Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot be equated since the expenditure is indicative of...
