![Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Depreciation-Computer-Softwares-ITAT-TAXSCAN.jpg "Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]")
Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) held to direct the Assessing Officer to restrict the depreciation on software expenses @60%....
![ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ITAT-Income-Tax-Deduction-Expenditure-Goods-Carriages-taken-Hire-TAXSCAN.jpg "ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]")
![Deemed Valuation u/s 50 C of Income Tax Act Applicable to Seller of Property, Not to Buyers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deemed-Valuation-Income-Tax-Act-Applicable-Seller-of-Property-ITAT-TAXSCAN.jpg "Deemed Valuation u/s 50 C of Income Tax Act Applicable to Seller of Property, Not to Buyers: ITAT [Read Order]")
![NRI settled in UAE Eligible for DTAA Benefit: ITAT deletes Addition for Investment made in India on receipt of Tax Domicile Certificate [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/NRI-settled-UAE-DTAA-Benefit-ITAT-Tax-Domicile-Certificate-TAXSCAN.jpg "NRI settled in UAE Eligible for DTAA Benefit: ITAT deletes Addition for Investment made in India on receipt of Tax Domicile Certificate [Read Order]")
Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), deleted income tax addition as there was absence to take note of judicial pronouncements in District Valuation Officer (DVO) Report. During the year under...
![Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/judicial-pronouncements-DVO-Report-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]")
No application of Sec 43CA on absence of element of Transfer: ITAT deletes Income Addition [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), deleted income tax addition and held that no application of Sec 43CA of the Income Tax Act, 1961 on absence of element of transfer. ...
![No application of Sec 43CA on absence of element of Transfer: ITAT deletes Income Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/application-ITAT-Income-Tax-Addition-TAXSCAN-1.jpg "No application of Sec 43CA on absence of element of Transfer: ITAT deletes Income Addition [Read Order]")
Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that Income Tax Addition for Cash deposits is not valid when certificates from the Bank denies the existence of Bank accounts....
![Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-Cash-Deposits-Certificates-Bank-Accounts-ITAT-TAXSCAN.jpg "Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]")
Income Tax Addition u/s 68 not permissible When Assessee furnished all evidences proving identity and creditworthiness of the Investors: ITAT upholds order of CIT(A)
Income Tax Addition u/s 68 of the Income Tax Act,1961 is not permissible when the assessee furnished all evidence proving the identity and creditworthiness of the investors, the Kolkata Bench of the...
![Books of Account cannot be rejected on Insignificant defect: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Books-of-account-ITAT-TAXSCAN.jpg "Books of Account cannot be rejected on Insignificant defect: ITAT [Read Order]")
No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench, has recently, in an appeal filed before it, held that no subsequent imposition of penalty can be made once the assessee has complied with...
![No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Notice-Documents-ITAT-TAXSCAN.jpg "No Subsequent Imposition of Penalty to be made Once Notice Complied and Documents Timely Filed: ITAT [Read Order]")
![Disallowance under Rule 8D(ii) not Warranted When Investments Made from Own Funds: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-Warranted-Investments-Funds-ITAT-TAXSCAN.jpg "Disallowance under Rule 8D(ii) not Warranted When Investments Made from Own Funds: ITAT [Read Order]")