![Failure of Assessee to Furnish any Evidence to Support Claim of Deduction u/s 54F of Income Tax Act: ITAT Remands Matter to AO for Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-to-Furnish-any-Evidence-to-Support-Claim-of-Deduction-Income-Tax-Act-ITAT-Remands-Matter-to-AO-for-Re-adjudication-TAXSCAN.jpg "Failure of Assessee to Furnish any Evidence to Support Claim of Deduction u/s 54F of Income Tax Act: ITAT Remands Matter to AO for Re-adjudication [Read Order]")
Failure of Assessee to Furnish any Evidence to Support Claim of Deduction u/s 54F of Income Tax Act: ITAT Remands Matter to AO for Re-adjudication [Read Order]
The Hyderabad Bench of Income Tax held that the assessee was not present before the Commissioner of Income Tax Appeals [CIT(A)] in the appellate...
![AO cannot Reject Valuation of Share Merely Based on Absence of DCF Method in rule 11UA at the time of Issuance of Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-cannot-Reject-Valuation-of-Share-Merely-Based-on-Absence-of-DCF-Method-time-of-Issuance-of-Shares-ITAT-TAXSCAN.jpg "AO cannot Reject Valuation of Share Merely Based on Absence of DCF Method in rule 11UA at the time of Issuance of Shares: ITAT [Read Order]")
![Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-Exempt-Income-Computing-Normal-Provisions-Income-Tax-Act-ITAT-taxscan.jpg "Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]")
![No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/CBIC-Sets-Norms-for-Officer-Posting-and-Performance-CRC-Payment-Exemption-at-Air-Freight-Solutions-TAXSCAN.jpg "No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]")
![S.13(1)(c) of Income Tax Act not Applicable when Refund Money Collected from Staff Spent for Maintenance of Trust: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/S.131c-of-Income-Tax-Act-not-Applicable-when-Refund-Money-Collected-from-Staff-Spent-for-Maintenance-of-Trust-ITAT-Deletes-Addition-Income-Tax-Act-TAXSCAN.jpg "S.13(1)(c) of Income Tax Act not Applicable when Refund Money Collected from Staff Spent for Maintenance of Trust: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]")
Provision for retirement pension of Hindustan Unilever employees is made for Business Purpose: ITAT allows deduction [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench, while allowing deduction in respect of retirement pension of employees of Hindustan Unilever employees observed that provision for the...
![Provision for retirement pension of Hindustan Unilever employees is made for Business Purpose: ITAT allows deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provision-for-retirement-pension-Provision-for-retirement-pension-of-Hindustan-Unilever-employees-Business-Purpose-ITAT-allows-deduction-ITAT-taxscan.jpg "Provision for retirement pension of Hindustan Unilever employees is made for Business Purpose: ITAT allows deduction [Read Order]")
Failure to Distinct between Electric Fitting Installed in Factory and Office Premises: ITAT Allows Higher Depreciation to Office Electric Fittings [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed higher depreciation to office electronic fittings on failure to distinguish between the electric fitting installed in factory and...
![Failure to Distinct between Electric Fitting Installed in Factory and Office Premises: ITAT Allows Higher Depreciation to Office Electric Fittings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-Failure-to-Distinct-between-Electric-Fitting-Installed-in-Factory-and-Office-Premises-Electric-Fitting-Installed-in-Factory-Office-Premises-ITAT-taxscan.jpg "Failure to Distinct between Electric Fitting Installed in Factory and Office Premises: ITAT Allows Higher Depreciation to Office Electric Fittings [Read Order]")
Non-Compliance behavior of assessee before Lower Authorities during Appellate Proceedings: ITAT directs to deposit  cost of Rs 25,000/- In PM relief Fund [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench directed to deposit cost of Rs 25,000/- in Prime Minister Relief Fund (PMRF) due to non-compliance behavior of assessee before lower authorities...
![Non-Compliance behavior of assessee before Lower Authorities during Appellate Proceedings: ITAT directs to deposit  cost of Rs 25,000/- In PM relief Fund [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Compliance-behavior-Lower-Authorities-Appellate-Proceedings-ITAT-PM-relief-Fund-taxscan.jpg "Non-Compliance behavior of assessee before Lower Authorities during Appellate Proceedings: ITAT directs to deposit  cost of Rs 25,000/- In PM relief Fund [Read Order]")
Addition cannot be Deleted merely for Mentioning Section 68 Instead of Section 69 of Income Tax Act when Cash Deposit of Rs. 49,000/- Found Each Time in Bank Account: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition could not be deleted merely for mentioning Section 68 instead of Section 69 of the Income Tax Act , 1961 when the...
Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench quashed the application of maximum marginal rate on the trust with known beneficiaries and directed it to apply individual rate upon return of...
![Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Application-of-Maximum-Marginal-Rate-on-Trust-Beneficiaries-ITAT-Rates-TAXSCAN.jpg "Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]")
Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the disallowance of setoff of short-term capital loss is allowable to set-off against short-term capital gain under Section 70...
![Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-of-set-off-of-short-term-capital-loss-allowable-to-set-off-against-short-term-capital-gain-Income-Tax-Act-ITAT-TAXSCAN.jpg "Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]")
![Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Computers-and-Computer-Peripherals-Eligible-for-Depreciation-ITAT-TAXSCAN.jpg "Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]")