![Adjustment under Section 143(1)(a) is not permissible on Debatable Issue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Adjustment-permissible-debatable-issue-ITAT-taxscan.jpeg "Adjustment under Section 143(1)(a) is not permissible on Debatable Issue: ITAT [Read Order]")
Adjustment under Section 143(1)(a) is not permissible on Debatable Issue: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) comprising Shri Annapurna Gupta, AM and Shri T R Senthil kumar, JM has held that...
![Relief to KLM Royal Dutch Airlines: Profits from Providing Technical Services to other Airlines is Covered under DTAA and Not Liable to Tax in India, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/KLM-Royal-Dutch-Airlines-Profits-Technical-Services-Airlines-DTAA-Tax-ITAT-taxscan.jpg "Relief to KLM Royal Dutch Airlines: Profits from Providing Technical Services to other Airlines is Covered under DTAA and Not Liable to Tax in India, rules ITAT [Read Order]")
![Levy of Income Tax on Both Land Owner and GPA Holder for Same Income amount to Double Taxation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-Tax-Land-Owner-GPA-Holder-Income-Double-Taxation-ITAT-taxscan.jpg "Levy of Income Tax on Both Land Owner and GPA Holder for Same Income amount to Double Taxation: ITAT [Read Order]")
![Addition towards Cash Payment u/s 40 A(3) will not sustain without Incriminating Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Undisclosed-income-corroborative-evidence-ITAT-taxscan.jpg "Addition towards Cash Payment u/s 40 A(3) will not sustain without Incriminating Material: ITAT [Read Order]")
![Interest Free Loans cannot be treated as Deemed Dividends u/s 2(22)(e): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Interest-free-loans-deemed-dividends-ITAT-taxscan.jpg "Interest Free Loans cannot be treated as Deemed Dividends u/s 2(22)(e): ITAT [Read Order]")
No Proper Reason for Non-Appearance before Income Tax Authorities: ITAT imposes Cost of Rs. 10,000 on Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has imposed a cost of Rs. 10,000 on the assessee for not giving proper reasons for the non-appearance before the income tax authorities. ...
![No Proper Reason for Non-Appearance before Income Tax Authorities: ITAT imposes Cost of Rs. 10,000 on Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Non-Appearance-Income-Tax-Authorities-ITAT-Assessee-Income-tax-Taxscan.jpg "No Proper Reason for Non-Appearance before Income Tax Authorities: ITAT imposes Cost of Rs. 10,000 on Assessee [Read Order]")
Mere existence of Addition on Income during Assessment Proceedings does not attract Income Tax Penalty: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the mere existence of addition on income during assessment proceedings does not attract Income Tax Penalty. The...
![Mere existence of Addition on Income during Assessment Proceedings does not attract Income Tax Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Assessment-Proceeding-Income-Tax-Penalty-ITAT-taxscan.jpg "Mere existence of Addition on Income during Assessment Proceedings does not attract Income Tax Penalty: ITAT [Read Order]")
Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that as per rule 8D(2)(iii), the disallowance under 14A needs to calculate based on the average value of the share by exempt income...
![Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-average-value-share-exempt-income-ITAT-Taxscan.jpeg "Disallowance is Calculated based on Average Value of Share, Exempt Income earned as per Rule 8D(2)(iii): ITAT [Read Order]")
![Notice issued u/s 271 must Record the specific ground to which it initiated: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Notice-ITAT-taxscan.jpeg "Notice issued u/s 271 must Record the specific ground to which it initiated: ITAT [Read Order]")
Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal has held that no disallowance u/s 43B, since bank interest not claimed as deduction in profit and loss account and showing as pre-operative...
![Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Bank-Interest-Deduction-P-L-Account-Pre-Operative-Expenses-Disallowance-ITAT-taxscan.jpg "Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]")
Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the addition of unverified share capital without incriminating material is not sustainable u/s 153 of Income Tax Act 1961. A...
![Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Unverified-share-capital-material-ITAT-taxscan.jpg "Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]")
Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has deleted a penalty order by observing that the assessee cannot be penalized for the failure of keeping an invoice of a small amount of...
![Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Invoice-Agricultural-Sale-Income-Tax-Penalty-ITAT-taxscan.jpeg "Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]")