![Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excess-interest-paid-to-partners-mistake-in-Tax-Audit-Report-ITAT-Readjudication-taxscan.jpg "Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]")
Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while observing that excess interest paid to the partners of the firm was due to a mistake in...
![No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-AO-Books-of-Accounts-ITAT-No-Addition-AO-without-Rejecting-Books-of-Accounts-ITAT-taxscan.jpg "No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT [Read Order]")
![Assessment Order Passed u/s 144 rws 147 of Income Tax Act without DIN shall be treated as invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Passed-Under-Section-144-rws-ITAT-Income-Tax-Income-Tax-Act-DIN-Document-Identification-Number-TAXSCAN.jpg "Assessment Order Passed u/s 144 rws 147 of Income Tax Act without DIN shall be treated as invalid: ITAT [Read Order]")
![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]")
![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
The Income Tax Appellate Tribunal (ITAT), Chennai Bench held that interest income from investments in cooperative banks governed by the Tamil Nadu Co-operative Societies Act is eligible for deduction...
![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]
The Surat bench of the Income Tax Appellate Tribunal (ITAT) allowed another opportunity to the assessee for non-compliance of notice due to a different email ID on Form 35 and the Income Tax Return...
![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]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) allowed the disallowance under Section 37(1) of the Income Tax Act, 1961, and held that the expenses on account of interest on margin...
![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]")