![CIT(A) fails to provide Evidence of Notice Served: ITAT deletes Penalty u/s 271 (1) (b) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Delhi-Income-tax-Income-tax-news-Income-tax-act-taxscan.jpg "CIT(A) fails to provide Evidence of Notice Served: ITAT deletes Penalty u/s 271 (1) (b) of Income Tax Act [Read Order]")
CIT(A) fails to provide Evidence of Notice Served: ITAT deletes Penalty u/s 271 (1) (b) of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) found that the Commissioner of Income Tax (Appeals) [ CIT(A) ] failed to provide...
![Delhi HC to Hear Case on Income Tax - TDS Applicability for EDC and Interest Payments to HUDA/DTCP on September 11, 2024 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Delhi-HC-to-Hear-Case-on-Income-Tax-Haryana-Urban-Development-Authority-Delhi-HC-case-on-Income-tax-taxscan.jpg "Delhi HC to Hear Case on Income Tax - TDS Applicability for EDC and Interest Payments to HUDA/DTCP on September 11, 2024 [Read Order]")
![Kerala HC Orders Stay on Recovery of Demand; Urges Prompt Resolution of Appeal and Stay Petition Within Two Months [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Kerala-High-Court-Recovery-of-Demand-Income-Tax-Department-Income-Tax-taxscan.jpg "Kerala HC Orders Stay on Recovery of Demand; Urges Prompt Resolution of Appeal and Stay Petition Within Two Months [Read Order]")
![ITAT directs AO to Disallow Asian Paints Consulting Fee to Paid for Feasibility Study Report Extent Only for Home Improvement and Decor Business Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Asian-Paints-Furnish-Necessary-Details-Claim-of-Sundry-Balances-Written-Off-ITAT-Documents-TAXSCAN.jpg "ITAT directs AO to Disallow Asian Paints Consulting Fee to Paid for Feasibility Study Report Extent Only for Home Improvement and Decor Business Expenditure [Read Order]")
Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT )Â has deleted the addition of INR 60.1 Lakhs after the appellant's bank statements confirmed full payment and compliance with Section...
![Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Mumbai-Income-tax-Bank-statement-Bank-statements-evidence-taxscan.jpg "Appellant’s Bank statements Confirms Full Payment and Compliance with Section 56 (2)(x) (b) (B): ITAT deletes addition of Rs. 60.1 Lakhs [Read Order]")
Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to the Bank of Nova Scotia by allowing the deduction of interest paid by its Indian branch to its Head office. The...
![Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bank-of-Nova-Scotia-ITAT-ITAT-allows-Deduction-of-Interest-taxscan.jpg "Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]")
ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers' Objection [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) dismissed reassessment as Assessing Officer ( AO ) failed to pass assessment Order within 4 weeks from rejection of taxpayers' objection....
![ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Reassessment-AO-Pass-Assessment-Order-Rejection-Taxpayers-Objection-TAXSCAN.jpg "ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]")
Relief to Toyota Financial: ITAT directs Re-Adjudication on Taxability of Interest Income from NPAs [Read Order]
The Bangalore division of the Income Tax Appellate Tribunal ( ITAT ) provided Toyota Financial with relief by instructing a reevaluation of the tax implications related to the interest income derived...
![Relief to Toyota Financial: ITAT directs Re-Adjudication on Taxability of Interest Income from NPAs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Toyota-Financial-Interest-income-Interest-income-taxation-taxscan.jpg "Relief to Toyota Financial: ITAT directs Re-Adjudication on Taxability of Interest Income from NPAs [Read Order]")
Interest paid on loans borrowed for real estate and finance business is allowable as deduction: ITAT deletes Disallowance [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the disallowance made by the assessing officer towards the interest expenses held that interest paid on loans borrowed for...
![Interest paid on loans borrowed for real estate and finance business is allowable as deduction: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-loan-interest-Real-estate-business-tax-Tax-deductions-in-business-Tax-news-Business-loans-interest-taxscan.jpg "Interest paid on loans borrowed for real estate and finance business is allowable as deduction: ITAT deletes Disallowance [Read Order]")
![AO and CIT (A) ignores Cash Deposit Evidences: ITAT deletes addition u/s 69A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/AO-CIT-A-ITAT-addition-AO-and-CIT-A-Ignores-Cash-Deposit-Evidences-taxscan.jpg "AO and CIT (A) ignores Cash Deposit Evidences: ITAT deletes addition u/s 69A [Read Order]")
No Evidence of Cash Payments for Demand Drafts to 34 Parties: ITAT Upholds Deletion of Additions by CIT (A) u/s 68 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion of additions made under Section 68 of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals)...
![No Evidence of Cash Payments for Demand Drafts to 34 Parties: ITAT Upholds Deletion of Additions by CIT (A) u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Cash-Payments-No-Evidence-of-Cash-Payments-ITAT-Deletion-Additions-CIT-A-Income-Tax-Act-taxscan.jpg "No Evidence of Cash Payments for Demand Drafts to 34 Parties: ITAT Upholds Deletion of Additions by CIT (A) u/s 68 of Income Tax Act [Read Order]")