![ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-AO-disallowance-of-commission-expenses-documentary-evidence-Taxscan.jpg "ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]")
ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed the AO to decide the issue of disallowance of commission expenses based on documentary...
![Karnataka High Court quashes disallowance of 10% expenses paid to port workers as incentives [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/02/Karnataka-High-Court-disallowance-port-workers-incentives-Taxscan.jpg "Karnataka High Court quashes disallowance of 10% expenses paid to port workers as incentives [Read Judgment]")
![ITAT quashes Reopening of Assessment against Aries Marketers [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-reopening-of-the-assessment-Aries-Marketers-Taxscan.jpg "ITAT quashes Reopening of Assessment against Aries Marketers [Read Order]")
![ITAT: Income on sale of shares of company merged has to be regarded as LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Income-on-sale-of-shares-of-company-LTCG-Taxscan.jpg "ITAT: Income on sale of shares of company merged has to be regarded as LTCG [Read Order]")
![ITAT: Department cannot take up a new issue while filing Cross Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Department-filing-Cross-Objection-Taxscan.jpg "ITAT: Department cannot take up a new issue while filing Cross Objection [Read Order]")
Relief to IDBI Bank: ITAT deletes disallowance on Expenditure incurred in relation to Income not includible in Total Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while granting relief to the IDBI Bank deleted the disallowance on expenditure incurred in relation to income not includible in total income. ...
![Relief to IDBI Bank: ITAT deletes disallowance on Expenditure incurred in relation to Income not includible in Total Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/IDBI-Bank-ITAT-disallowance-expenditure-income-total-income-Taxscan.jpg "Relief to IDBI Bank: ITAT deletes disallowance on Expenditure incurred in relation to Income not includible in Total Income [Read Order]")
Acquisition of Capital Asset isn’t for extension of Existing Business: ITAT deletes disallowance of Interest [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while deleting the disallowance of interest held that the acquisition of the capital asset is not for the extension of an existing business. ...
![Acquisition of Capital Asset isn’t for extension of Existing Business: ITAT deletes disallowance of Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Acquisition-of-capital-asset-business-ITAT-disallowance-of-interest-Taxscan.jpg "Acquisition of Capital Asset isn’t for extension of Existing Business: ITAT deletes disallowance of Interest [Read Order]")
ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]
The Income Tax Appellate Tribunal (ITAT) deleted the addition confirmed by the Lower Authorities without pointing any defect in the bank transfer and bank statement of the moneylender. The...
![ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/bank-transfer-1.jpg "ITAT deletes addition, since Loan Transaction was suspected without pointing any defect in Bank Transfer, Bank Statement of Money Lender [Read Order]")
Genuineness of Transactions can't be doubted since All Payments were made through Banking Channel: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench deleted the addition as all payments made through the banking channel. The assessee, M/s. Sreeleathers had filed return of income disclosing...
![Genuineness of Transactions cant be doubted since All Payments were made through Banking Channel: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Genuineness-of-Transactions-All-Payments-Banking-Channel-ITAT-Taxscan.jpeg "Genuineness of Transactions cant be doubted since All Payments were made through Banking Channel: ITAT deletes Addition [Read Order]")
Interest on Funds borrowed for Investment as Capital in Partnership Firm is deductible Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore, has ruled that that Interest on funds borrowed for investment as capital in a partnership firm are deductible expenditure. The assessee, Mr....
![Interest on Funds borrowed for Investment as Capital in Partnership Firm is deductible Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Partnership-Firm.jpg "Interest on Funds borrowed for Investment as Capital in Partnership Firm is deductible Expenditure: ITAT [Read Order]")
Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]
The Income Tax Appellate on January 28, 2021, held that a mere landowner is not entitled to the deduction u/s 80-IB(10) if they have not incurred any cost or risk towards any developmental activity. ...
![Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Landowner-developmental-activity-Taxscan.jpg "Land Owner not entitled to Deduction u/s 80-IB(10) if no cost incurred towards any Developmental Activity [Read Order]")