![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]")
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...
![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]](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]](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]")
Failure to produce Book of accounts during Assessment Proceedings due to communication gap between Assessee's Representative and Company: ITAT directs Re adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, while directing readjudication, observed that the assessee had failed to produce the books of accounts during the assessment proceedings due to...
![Failure to produce Book of accounts during Assessment Proceedings due to communication gap between Assessees Representative and Company: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-produce-Book-accounts-Assessment-Proceedings-communication-between-Assessees-Representative-Company-ITAT-directs-Re-adjudication-TAXSCAN.jpg "Failure to produce Book of accounts during Assessment Proceedings due to communication gap between Assessees Representative and Company: ITAT directs Re adjudication [Read Order]")
Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has allowed the gratuity premium paid towards the Life Insurance Corporation (LIC) holding that the contribution made towards fund is...
![Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Contribution-Towards-fund-Business-Expenditure-Allowable-Income-Tax-Act-Unapproved-Income-Tax-Department-ITAT-Allows-Gratuity-Premium-Towards-LIC-taxscan.jpg "Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]")
Non-Consideration of Sale Deed to determine Nature of Sold Land as Agricultural: ITAT directs Re-adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Delhi bench during the appeal proceedings observed that the lower authorities did not consider sale deeds for determining the nature of sold land as...
![Non-Consideration of Sale Deed to determine Nature of Sold Land as Agricultural: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-Consideration-Sale-Deed-determine-Nature-Sold-Land-Agricultural-ITAT-directs-Re-adjudication-taxscan.jpg "Non-Consideration of Sale Deed to determine Nature of Sold Land as Agricultural: ITAT directs Re-adjudication [Read Order]")