![ITAT directs to delete 75% of total addition made towards Overburden Removal Expenditure incurred for Mining Operations [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-total-addition-addition-Overburden-taxscan.jpg "ITAT directs to delete 75% of total addition made towards Overburden Removal Expenditure incurred for Mining Operations [Read Order]")
ITAT directs to delete 75% of total addition made towards Overburden Removal Expenditure incurred for Mining Operations [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench directed to delete 75% of total addition made towards the overburden removal expenditure...
![ITAT deletes addition made towards bogus Interest Expenditure based on Sworn Statements as well as Reconciliation Statements filed by Assessee during Course of Assessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-addition-bogus-bogus-Interest-Expenditure-ITAT-deletes-addition-made-towards-bogus-Interest-Expenditure-based-on-Sworn-Statements-taxscan.jpg "ITAT deletes addition made towards bogus Interest Expenditure based on Sworn Statements as well as Reconciliation Statements filed by Assessee during Course of Assessment Proceedings [Read Order]")
![Difference in dates of Agreement fixing for Consideration and Registration Of Property : ITAT directs to take Date of Agreement adopted by SVA for Compute Full Value Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Difference-dates-of-Agreement-Agreement-Registration-Of-Property-Registration-Property-taxscan.jpg "Difference in dates of Agreement fixing for Consideration and Registration Of Property : ITAT directs to take Date of Agreement adopted by SVA for Compute Full Value Consideration [Read Order]")
![Professional Fees paid to Advocate for drafting Share Purchase Agreement is Revenue Expenditure : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Professional-Fees-Advocate-Share-Purchase-Agreement-Revenue-Expenditure-ITAT-taxscan.jpg "Professional Fees paid to Advocate for drafting Share Purchase Agreement is Revenue Expenditure : ITAT [Read Order]")
![Payment made to Professionals towards due Diligence Fees for Rendering Assistance to Acquiring Company is Revenue Expenditure u/s 37(1) of Income Tax Act: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Payment-Professionals-towards-due-Diligence-Fees-for-Rendering-Assistance-to-Acquiring-Company-is-Revenue-Expenditure-Income-Tax-Act-ITAT-allows-Deduction-TAXSCAN.jpg "Payment made to Professionals towards due Diligence Fees for Rendering Assistance to Acquiring Company is Revenue Expenditure u/s 37(1) of Income Tax Act: ITAT allows Deduction [Read Order]")
Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench during deleting the addition made towards the disallowance of the expenditure held that suspension of airline operations for a particular period...
![Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Suspension-Airline-Operations-Particular-period-losses-amount-Cessation-of-Business-ITAT-disallowance-of-expenditure-taxscan.jpg "Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]")
Exemption u/s.11 of Income Tax Act shall not be granted when activities of Trust are in Nature of Trade, Commerce or Business:ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench held that exemption under Section 11 of the Income Tax Act , 1961 should not be granted when activities of trust are in nature of trade ,...
![Exemption u/s.11 of Income Tax Act shall not be granted when activities of Trust are in Nature of Trade, Commerce or Business:ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Exemption-Income-Tax-Act-Income-Tax-activities-of-Trust-Trust-Nature-of-Trade-Trade-Commerce-taxscan-Business-ITAT.jpg "Exemption u/s.11 of Income Tax Act shall not be granted when activities of Trust are in Nature of Trade, Commerce or Business:ITAT [Read Order]")
Waiver of Loan for Acquiring Capital Assets cannot be taxed as Perquisite u/s 28(iv) of Income Tax Act :ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that waiver of loan for acquiring capital assets could not be taxed as perquisite under Section 28(iv) of the Income Tax Act, 1961. The...
![Waiver of Loan for Acquiring Capital Assets cannot be taxed as Perquisite u/s 28(iv) of Income Tax Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Waiver-Waiver-of-Loan-Capital-Assets-Waiver-of-Loan-for-Acquiring-Capital-Assets-Perquisite-Income-Tax-Act-taxscan.jpg "Waiver of Loan for Acquiring Capital Assets cannot be taxed as Perquisite u/s 28(iv) of Income Tax Act :ITAT [Read Order]")
Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) upheld the determination of income under Section 44D of the Income Tax Act 1961 holding that the sale and purchase transaction in its own...
![Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Determination-of-Income-ITAT-upholds-Income-Tax-Act-Income-Tax-ITAT-ITAT-News-Tax-News-Sale-and-Purchase-TAXSCAN.jpg "Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]")
Hearing Before CIT(A)got Disrupted as Audio was Absent During Video Conference: Delhi HC sets aside Assessment order [Read Order]
The Delhi High Court set aside the assessment order as the hearing before the Commissioner of Income Tax (Appeal) (CIT(A)) got disrupted as audio was absent during the video conference. Dr Rakesh...
ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench quashed reassessment framed under section 143(3) of the Income Tax Act, 1961 beyond 4 years in absence of establishing failure on part of...
![ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-ITAT-quashes-reassessment-Income-Tax-Act-failure-assessee-taxscan.jpg "ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]")
CIT (A) can Enhance any Issue which touched upon by AO in Assessment Order : ITAT upholds Enhancement of Income made u/s 251(2) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench held that Commissioner Income Tax (Appeals) [CIT(A)] could enhance any issue which was touched upon by an Assessing Officer in the Assessment...
![CIT (A) can Enhance any Issue which touched upon by AO in Assessment Order : ITAT upholds Enhancement of Income made u/s 251(2) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/CIT-A-Issue-CIT-A-can-Enhance-any-Issue-which-touched-upon-by-AO-AO-Assessment-Order-ITAT-taxscan.jpg "CIT (A) can Enhance any Issue which touched upon by AO in Assessment Order : ITAT upholds Enhancement of Income made u/s 251(2) of Income Tax Act [Read Order]")