![AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Delhi-high-court-Income-Tax-Act-Income-tax-Assessing-Officer-AO-has-to-form-Opinion-before-Recording-Disallowance-Under-section-40A2a.jpg "AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]")
AO has to form Opinion before Recording Disallowance u/s 40A(2)(a) of Income Tax Act: Delhi HC [Read Order]
In a recent decision the Delhi High Court observed that the Assessing Officer has to form an opinion before recording disallowance under Section...
![ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ESOP-ESOP-Expenditure-Share-Capital-Capital-ESOP-Expenditure-Incurred-towards-Raising-Share-Capital-Revenue-Revenue-Expenditure-ITAT-taxscan.jpg "ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]")
![Books of Account & Vouchers are not required in 44AD return: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Books-of-Account-Vouchers-Required-44AD-return-ITAT-Deletes-Income-Tax-Act-TAXSCAN.jpg "Books of Account & Vouchers are not required in 44AD return: ITAT Deletes Addition u/s 69A of Income Tax Act [Read Order]")
![Disallowance cannot Exceed Exempt Income: ITAT upholds Deletion of Disallowance u/s 14A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-cannot-Exceed-Exempt-Income-ITAT-upholds-Deletion-of-Disallowance-Exempt-Income-Deletion-of-Disallowance-Income-Tax-Act-Disallowance-Income-ITAT-under-section-14A-of-Income-Tax-Act.jpg "Disallowance cannot Exceed Exempt Income: ITAT upholds Deletion of Disallowance u/s 14A of Income Tax Act [Read Order]")
![Notice for hearings sent to wrong address: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Notice-wrong-address-ITAT-Readjudication-taxscan.jpg "Notice for hearings sent to wrong address: ITAT directs Readjudication [Read Order]")
Non-Consideration of Evidences Furnished to Prove Identity and Creditworthiness of Investors and Genuiness of Transaction: ITAT directs AO to Delete Income Tax Addition [Read Order]
The Kolkata Bench held that the assessee has furnished all the evidences proving identity and creditworthiness of the investors and genuineness of the transactions but AO has not commented on these...
![Non-Consideration of Evidences Furnished to Prove Identity and Creditworthiness of Investors and Genuiness of Transaction: ITAT directs AO to Delete Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Additions-Income-Tax-Act-Income-Tax-Income-Tax-Act-cant-be-Initiated-by-AO-without-Furnishing-Necessary-Evidences-AO-ITAT-Taxscan.jpg "Non-Consideration of Evidences Furnished to Prove Identity and Creditworthiness of Investors and Genuiness of Transaction: ITAT directs AO to Delete Income Tax Addition [Read Order]")
![Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Money-Payment-Money-Retiring-Partner-Capital-Expenditure-Expenditure-CITA-Order-ITAT-taxscan-1.jpg "Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]")
Software being an integral part, shall be eligible for same rate of Depreciation as applicable to Computer System: ITAT grants relief to Caterpillar India [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the software is an integral part of the computer system and shall be eligible for the same rate of depreciation as applicable...
![Software being an integral part, shall be eligible for same rate of Depreciation as applicable to Computer System: ITAT grants relief to Caterpillar India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Software-being-integral-part-same-rate-of-Depreciation-applicable-to-Computer-System-ITAT-grants-Caterpillar-India-TAXSCAN.jpg "Software being an integral part, shall be eligible for same rate of Depreciation as applicable to Computer System: ITAT grants relief to Caterpillar India [Read Order]")
Addition on Presumptive Income without Considering Loss in Trading in Equity and Commodities: Delhi HC directs Denovo Examination [Read Order]
The Delhi Bench of High Court has directed denovo examination as addition was made on presumptive income without considering the loss in trading in equity and commodities. This appeal concerns...
Disallowance u/s 37 can't be made when Details have been furnished by Assessee for Business Promotion Expenditure: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 37 of the Income Tax Act, 1961 cannot be made when the details have been furnished by the assessee...
![Disallowance u/s 37 cant be made when Details have been furnished by Assessee for Business Promotion Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Details-furnished-by-Assessee-Business-Promotion-Expenditure-ITAT-TAXSCAN.jpg "Disallowance u/s 37 cant be made when Details have been furnished by Assessee for Business Promotion Expenditure: ITAT [Read Order]")
Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal held that the additional amount paid in cash on money was admittedly paid by the other two-owners and not by the assessee, thus the Assessing...
![Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Imposition-Income-tax-Addition-Additional-Amount-Purchase-Land-Two-Co-owners-ITAT-Condones-Delay-TAXSCAN.jpg "Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]")
Voluntary Deposit of tax shall not be considered as Admission of Guilt before receiving notice u/s 148 of Income Tax Act: ITAT deletes penalty u/s 271 (1) (c) I.T. Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that voluntary deposit of tax should not be considered as admission of guilt before receiving notice under Section 148 of the Income...
![Voluntary Deposit of tax shall not be considered as Admission of Guilt before receiving notice u/s 148 of Income Tax Act: ITAT deletes penalty u/s 271 (1) (c) I.T. Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Voluntary-Deposit-of-tax-considered-as-Admission-of-Guilt-before-receiving-notice-Income-Tax-Act-ITAT-deletes-penalty-I.T.Act-TAXSCAN.jpg "Voluntary Deposit of tax shall not be considered as Admission of Guilt before receiving notice u/s 148 of Income Tax Act: ITAT deletes penalty u/s 271 (1) (c) I.T. Act [Read Order]")