![Provision of Section 269SS and 269T of Income Tax Act imposes Statutory Liability and cant be stated as a Mere Technical Violation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Provision-Income-Tax-Act-Statutory-Liability-stated-Mere-Technical-Violation-ITAT-TAXSCAN.jpg "Provision of Section 269SS and 269T of Income Tax Act imposes Statutory Liability and cant be stated as a Mere Technical Violation: ITAT [Read Order]")
Provision of Section 269SS and 269T of Income Tax Act imposes Statutory Liability and can't be stated as a Mere Technical Violation: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of Section 269SS and 269T of the Income Tax Act, 1961 imposed...
![Disallowance of Claim of Write Off made in individual Entitys Financials Prior to Amalgamation cannot be added as Income in hands of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-of-claim-of-write-off-individual-entitys-financials-prior-to-amalgamation-ITAT-INCOME-TAX-INCOME-TAX-ACT-income-in-hands-Disallowance-write-off-TAXSCAN.jpg "Disallowance of Claim of Write Off made in individual Entitys Financials Prior to Amalgamation cannot be added as Income in hands of Assessee: ITAT [Read Order]")
![Interest Income from investment in Co-operative bank governed by Tamil Nadu Co-operative Societies Act eligible for deduction u/s 80P(2)(d) of Income Tax [Read Order] Â](https://www.taxscan.in/wp-content/uploads/2023/10/site-13-1.jpg "Interest Income from investment in Co-operative bank governed by Tamil Nadu Co-operative Societies Act eligible for deduction u/s 80P(2)(d) of Income Tax [Read Order] Â")
![Non-compliance of Notice due to different Email ID on Form 35 and ITR: ITAT allows another opportunity to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-compliance-of-Notice-Form-35-and-ITR-ITAT-Income-tax-act-Income-tax-different-Email-ID-allows-another-opportunity-opportunity-TAXSCAN.jpg "Non-compliance of Notice due to different Email ID on Form 35 and ITR: ITAT allows another opportunity to Assessee [Read Order]")
![Expense on account of Interest on Margin facility and late Payment to Brokers, Not in Nature of Penalty: ITAT allows Disallowance u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Expense-Interest-Expense-on-account-of-Interest-Expense-on-account-of-Interest-on-Margin-facility-ITAT-taxscan.jpg "Expense on account of Interest on Margin facility and late Payment to Brokers, Not in Nature of Penalty: ITAT allows Disallowance u/s 37(1) [Read Order]")
Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Dept's Appeal [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that advance payment made for the purchase of land stand establish as the same was through a banking channels and the bank certificate of...
![Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Advance-Payment-for-Purchase-of-Land-Deposit-in-Capital-Gain-Scheme-Account-Established-Advance-Payment-TAXSCAN.jpg "Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Depts Appeal [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 40A(2)(a) of the Income Tax Act, 1961. For the...
![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]")
ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that the Employees Stock Ownership Plan (ESOP) expenditure incurred towards raising of share capital was allowable as revenue...
![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]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 69A of the Income Tax Act 1961, holding that the books of account and vouchers were not required in...
![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]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of disallowance under Section 14A of the Income Tax Act holding that the disallowance could not exceed the exempt...
![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]")