![ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-addition-made-account-loss-Derivative-Trading-Business-Income-TAXSCAN.jpg "ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]")
ITAT Deletes addition made on account of loss from Derivative Trading adjusted with Business Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench deletd the addition made on account of loss from derivative trading adjusted with business...
![Depreciation Allowable only on Fixed Assets not used for Commercial Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Depreciation-Allowable-Fixed-Assets-Commercial-Purpose-ITAT-TAXSCAN.jpg "Depreciation Allowable only on Fixed Assets not used for Commercial Purpose: ITAT [Read Order]")
![Addition Made Purely on Estimation Basis , No Penalty shall be Leviable u/s 271(1)(c) of Income Tax Act : ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Addition-Made-Purely-Estimation-Basis-No-Penalty-Leviable-Income-Tax-Act-TAXSCANAddition-Made-Purely-Estimation-Basis-No-Penalty-Leviable-Income-Tax-Act-TAXSCAN.jpg "Addition Made Purely on Estimation Basis , No Penalty shall be Leviable u/s 271(1)(c) of Income Tax Act : ITAT Deletes Penalty [Read Order]")
![ITAT Upholds Deletion of Addition made by CIT(A) on ground of Non Consideration of Previous Decision of Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Upholds-Deletion-of-Addition-made-by-CITA-on-ground-of-Non-Consideration-of-Previous-Decision-of-Assessment-TAXSCAN.jpg "ITAT Upholds Deletion of Addition made by CIT(A) on ground of Non Consideration of Previous Decision of Assessment [Read Order]")
![Claim of Deduction on Sale of Scrap and Stores in Respect of Export Turnover u/s 80HHC: ITAT Allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Claim-Deduction-Sale-Scrap-Stores-Respect-Export-Turnover-ITAT-Allows-Appeal-TAXSCAN.jpg "Claim of Deduction on Sale of Scrap and Stores in Respect of Export Turnover u/s 80HHC: ITAT Allows Appeal [Read Order]")
ITAT deletes late fee levied on Belatedly filed TDS before Amendment in Section 234 E of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench deleted late fee levied on belatedly filed Tax Deduction (TDS) at Source before the amendment in section 234E of Income Tax Act, 1961. The...
![ITAT deletes late fee levied on Belatedly filed TDS before Amendment in Section 234 E of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-deletes-late-fee-levied-Belatedly-filed-TDS-Amendment-Income-Tax-Act-TAXSCAN.jpg "ITAT deletes late fee levied on Belatedly filed TDS before Amendment in Section 234 E of Income Tax Act [Read Order]")
Deletion of Addition by CIT(A) against Invalid Assessment Order: Delhi HC disposes appeal of Revenue [Read Order]
The Delhi High Court dismissed the appeal filed by the revenue against the deletion of addition by the Commissioner of Income Tax (Appeals). Nagar Dairy Pvt. Ltd, the respondent-assessee...
![Deletion of Addition by CIT(A) against Invalid Assessment Order: Delhi HC disposes appeal of Revenue [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Delhi-High-Court-delete-addition-assessing-officer-invalid-assessment-taxscan.jpg "Deletion of Addition by CIT(A) against Invalid Assessment Order: Delhi HC disposes appeal of Revenue [Read Order]")
Activities of Import of Goods for Re-Export Falls Within Meaning of "Services" under SEZ Act: ITAT Allows Income Tax Deduction u/s 10AA [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that the activities carried out by the assessee falls within the ambit of “services”, the expression used in Section 10AA of the...
![Activities of Import of Goods for Re-Export Falls Within Meaning of Services under SEZ Act: ITAT Allows Income Tax Deduction u/s 10AA [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Activities-Import-Goods-Re-Export-Falls-Meaning-Services-SEZ-Act-ITAT-Income-Tax-Deduction-TAXSCAN.jpg "Activities of Import of Goods for Re-Export Falls Within Meaning of Services under SEZ Act: ITAT Allows Income Tax Deduction u/s 10AA [Read Order]")
No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that no order shall be passed without affording reasonable opportunity of being heard to the assessee and hence set aside the order...
![No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-income-tax-Order-No-Order-No-Order-shall-be-passed-without-affording-Reasonable-Opportunity-taxscan.jpg "No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]")
ITAT deletes disallowance of deduction claimed on account of payment of guarantee commission to Associate Enterprise [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the disallowance of deduction claimed on account of payment of guarantee commission to associate enterprise. The...
![ITAT deletes disallowance of deduction claimed on account of payment of guarantee commission to Associate Enterprise [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-disallowance-deduction-claimed-account-payment-guarantee-commission-Associate-Enterprise-TAXSCAN.jpg "ITAT deletes disallowance of deduction claimed on account of payment of guarantee commission to Associate Enterprise [Read Order]")
Lease Rent and Packaging Charges derived under Lease Agreements for rendering Manufacturing Services to IMFL is Business Income :ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that lease rent and packaging charges derived under lease agreements for rendering manufacturing services to Indian Made Foreign...
![Lease Rent and Packaging Charges derived under Lease Agreements for rendering Manufacturing Services to IMFL is Business Income :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Lease-Rent-Packaging-Charges-Lease-Agreements-rendering-Manufacturing-Services-IMFL-Business-Income-ITAT-TAXSCAN.jpg "Lease Rent and Packaging Charges derived under Lease Agreements for rendering Manufacturing Services to IMFL is Business Income :ITAT [Read Order]")
Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the amount given by the co-purchaser for service towards arranging sales is income. The assessee filed the return of income...
![Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Amount-Co-Purchaser-Services-Arranging-Sale-Income-ITAT-Income-Tax-TAXSCAN.jpg "Amount given by Co-Purchaser for Services towards Arranging Sale is Income: ITAT confirms Income Tax Addition [Read Order]")