![ITAT Orders Reassessment after Assessee Inadvertently Files ITR in Wrong Form [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/tax-return.jpg "ITAT Orders Reassessment after Assessee Inadvertently Files ITR in Wrong Form [Read Order]")
ITAT Orders Reassessment after Assessee Inadvertently Files ITR in Wrong Form [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) ordered reassessment in this case where the assessee inadvertently filed the return in...
![No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/material-disallowance-ITAT-AO-Purchases-TAXSCAN.jpg "No Material Records to invoke Disallowance u/s 40A(3): ITAT directs AO to estimate Addition at 10% for Purchases [Read Order]")
![Incomplete Debit Notes not Valid Document for availing Cenvat Credit under Rule 9 of CCR: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Debit-Notes-Document-Cenvat-Credit-CCR-CESTAT-TAXSCAN.jpg "Incomplete Debit Notes not Valid Document for availing Cenvat Credit under Rule 9 of CCR: CESTAT [Read Order]")
![CESTAT sets aside Rejection on ground of Time-bar and Premature Refund Claim, directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/CESTAT-Refund-Claim-Readjudication-TAXSCAN.jpg "CESTAT sets aside Rejection on ground of Time-bar and Premature Refund Claim, directs Readjudication [Read Order]")
![Purchase of Windmill and Capitalisation in Books of Account: ITAT allows Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Windmill-Capitalisation-ITAT-Depreciation-TAXSCAN.jpg "Purchase of Windmill and Capitalisation in Books of Account: ITAT allows Depreciation [Read Order]")
CUP method can be applied for benchmarking International Transactions when no change occurred than previous year: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT)has held that the CUP method can be applied for benchmarking international transactions when no change occurred in the previous year. ...
![CUP method can be applied for benchmarking International Transactions when no change occurred than previous year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/CUP-International-Transactions-ITAT-TAXSCAN.jpg "CUP method can be applied for benchmarking International Transactions when no change occurred than previous year: ITAT [Read Order]")
Income Tax Addition on Deemed letting value not permissible when property was not let out: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that addition on deemed letting value not permissible when the property was not let out and deleted the addition. The...
![Income Tax Addition on Deemed letting value not permissible when property was not let out: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-Deemed-value-permissible-property-ITAT-TAXSCAN.jpg "Income Tax Addition on Deemed letting value not permissible when property was not let out: ITAT [Read Order]")
Addition on Cash Deposit during Demonetisation is not permissible when opportunity to adduce evidence to prove the Source was given: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT)has held that addition on cash deposit During Demonetisation is not permissible when the opportunity to adduce evidence to prove the...
![Addition on Cash Deposit during Demonetisation is not permissible when opportunity to adduce evidence to prove the Source was given: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Cash-Deposit-Demonetisationis-opportunity-evidence-ITAT-TAXSCAN.jpg "Addition on Cash Deposit during Demonetisation is not permissible when opportunity to adduce evidence to prove the Source was given: ITAT [Read Order]")
Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]
The Income Tax Appellate Tribunal ‘A’ bench, Chennai, has recently, in an appeal filed before it, held that interest on loans obtained for own business purposes constitutes business expenditure and...
![Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Loans-Business-Business-Expenditure-Deduction-Allowable-ITAT-TAXSCAN.jpg "Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]")
Date of Original submission has to be considered on Computing the period of one year for Claim of Refund: CESTAT [Read Order]
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT)has ruled that the date of original submission has to be considered on computing the period of one year for a Claim...
![Date of Original submission has to be considered on Computing the period of one year for Claim of Refund: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Date-Original-submission-considered-Computing-Claim-of-Refund-CESTAT-TAXSCAN-1.jpeg "Date of Original submission has to be considered on Computing the period of one year for Claim of Refund: CESTAT [Read Order]")
Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that addition of long term capital gains are not valid if capital gains on transfer of goodwill is zero after consideration of...
![Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Gains-Goodwill-ITAT-TAXSCAN.jpg "Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]")
![Revisional Order u/s 263 cant be Simply on Assumption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Revisional-order-ITAT-taxscan.jpeg "Revisional Order u/s 263 cant be Simply on Assumption: ITAT [Read Order]")