![No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Disallowance-of-Interest-Expenses-Investment-acquire-controlling-interest-ITAT.jpg "No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]")
No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that no disallowance can be made for interest expenses if the investment was made...
![Provision relating to Standard Deduction on Home Loan Interest applicable to Charitable Trust: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Provision-Standard-Deduction-Home-Loan-Interest-Home-Loan-Charitable-Trust-ITAT-Taxscan.jpg "Provision relating to Standard Deduction on Home Loan Interest applicable to Charitable Trust: ITAT [Read Order]")
![100% of Expenses incurred by Assessee without incurring the TDS cannot be disallowed rather restricted to the tune of 30%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Expenses-Assessee-TDS-ITAT-Expense-Tune-of-30-Taxscan.jpeg "100% of Expenses incurred by Assessee without incurring the TDS cannot be disallowed rather restricted to the tune of 30%: ITAT [Read Order]")
![Onus of providing Source of Money lies on Assessee: ITAT upholds Addition of Rs.12.81 Cr on account of Unexplained Cash Credit [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Onus-Source-of-money-Assessee-ITAT-Unexplained-Cash-Credit-Cash-credit-Taxscan.jpg "Onus of providing Source of Money lies on Assessee: ITAT upholds Addition of Rs.12.81 Cr on account of Unexplained Cash Credit [Read Order]")
ITAT deletes addition made on account of Unexplained Jewellery as Valuation Report contained details of Individual Jewellery items available on record [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench deleted additions made on account of unexplained jewellery as valuation report contained details of individual jewellery items available on...
![ITAT deletes addition made on account of Unexplained Jewellery as Valuation Report contained details of Individual Jewellery items available on record [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Unexplained-jewellery-Jewellery-Valuation-report-Details-Individual-jewellery-items-Jewellery-items-Record-Taxscan.jpg "ITAT deletes addition made on account of Unexplained Jewellery as Valuation Report contained details of Individual Jewellery items available on record [Read Order]")
No question of Treating Amount withdrawn by Assessee as Partner in nature of Loan: ITAT deletes Addition on account of Deemed Dividend [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted addition on account of deemed dividend as no question of treating amount withdrawn by assessee as partner in nature of loan. ...
![No question of Treating Amount withdrawn by Assessee as Partner in nature of Loan: ITAT deletes Addition on account of Deemed Dividend [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/No-question-Amount-withdrawn-Assessee-Partner-Nature-Loan-ITAT-Deletes-addition-Account-Deemed-dividend-Taxscan.jpg "No question of Treating Amount withdrawn by Assessee as Partner in nature of Loan: ITAT deletes Addition on account of Deemed Dividend [Read Order]")
ITAT upholds Disallowance due to Non-Payment of TDS on Hire Charges paid for Leasing Equipments [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has confirmed the disallowance on ground of non-payment of TDS on hire charges paid for the leasing of equipments. The assessee is a...
![ITAT upholds Disallowance due to Non-Payment of TDS on Hire Charges paid for Leasing Equipments [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Disallowance-Non-Payment-TDS-Hire-Charges-Leasing-Equipments-Equipments-Taxscan.jpeg "ITAT upholds Disallowance due to Non-Payment of TDS on Hire Charges paid for Leasing Equipments [Read Order]")
ITAT deletes Addition against 80-Year Old Assessee as Savings to the extent of Rs. 2,50,000 cannot be Doubted [Read Order]
In an assessee-friendly ruling, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition made by the income tax department against an 80-year old assessee on the ground...
![ITAT deletes Addition against 80-Year Old Assessee as Savings to the extent of Rs. 2,50,000 cannot be Doubted [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Taxscan.jpg "ITAT deletes Addition against 80-Year Old Assessee as Savings to the extent of Rs. 2,50,000 cannot be Doubted [Read Order]")
ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the Penalty Order as it suffered from vagueness, and did not provide sound legal basis for imposition of penalty. The assessee,...
![ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Quashes-Penalty-Order-Penalty-Order-Vagueness-Sound-legal-basis-Imposition-Of-Penalty-Taxscan.jpg "ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]")
Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) while deleting the addition held that transactions in client ledger accounts are transactions entered in ordinary course of business. The...
![Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Transactions-Client-Ledger-Account-Ordinary-Course-of-Business-Business-ITAT-Deletes-Addition-Taxscan.jpeg "Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]")
Capital Gains arising on Sale of Rural Agricultural Land outside the purview of Income Tax: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gains arising on sale of rural agricultural land outside the purview of Income Tax. The assessee, Ms. Janki...
![Capital Gains arising on Sale of Rural Agricultural Land outside the purview of Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Capital-gains-sale-Rural-agricultural-land-Income-tax-ITAT-Taxscan.jpg "Capital Gains arising on Sale of Rural Agricultural Land outside the purview of Income Tax: ITAT [Read Order]")