![ITAT dismisses Rectification Orders passed u/s 154 of Income Tax Act without setting off Business Loss against Property Income and Income from Other Sources [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-dismisses-Rectification-Orders-passed-Income-Tax-Act-Business-Loss-against-Property-Income-and-Income-from-Other-Sources-TAXSCAN.jpg "ITAT dismisses Rectification Orders passed u/s 154 of Income Tax Act without setting off Business Loss against Property Income and Income from Other Sources [Read Order]")
ITAT dismisses Rectification Orders passed u/s 154 of Income Tax Act without setting off Business Loss against Property Income and Income from Other Sources [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench Dismissed the rectification order passed under Section 154 of Income Tax Act, 1961 without...
![No Addition shall be made on behalf Farmer assessee in respect of Cash Deposited in Joint Bank Account by Second Account Holder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Cash-Deposited-Joint-Bank-Account-Second-Account-TAXSCAN.jpg "No Addition shall be made on behalf Farmer assessee in respect of Cash Deposited in Joint Bank Account by Second Account Holder: ITAT [Read Order]")
![Reopening of Assessment. u/s 147 of Income Tax Act not Valid in Absence of an Allegation Failure to Disclose Material Fact: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Reopening-Reopening-of-Assessment-Income-Tax-Act-Valid-Absence-Allegation-Allegation-Failure-taxscan.jpg "Reopening of Assessment. u/s 147 of Income Tax Act not Valid in Absence of an Allegation Failure to Disclose Material Fact: Delhi HC [Read Order]")
![Spice Jet not Liable to Pay Income Tax on Supplementary Rent Paid to Foreign Company for Acquiring Aircraft on Lease as per India-Ireland DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Spice-Jet-not-Liable-to-Pay-Income-Tax-on-Supplementary-Rent-Liable-to-Pay-Income-Tax-Income-Tax-Supplementary-Rent-Paid-to-Foreign-Company-Rent-Paid-to-Foreign-Company-ITAT-Taxscan.jpg "Spice Jet not Liable to Pay Income Tax on Supplementary Rent Paid to Foreign Company for Acquiring Aircraft on Lease as per India-Ireland DTAA: ITAT [Read Order]")
![Assessment Order passed in Violation of Natural Justice Principle: ITAT remands Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Assessment-Order-Violation-Natural-ITAT-TAXSCAN.jpg "Assessment Order passed in Violation of Natural Justice Principle: ITAT remands Matter to CIT(A) [Read Order]")
Addition of Amount of Security Deposit to Taxable Income of Jindal Construction can't be deleted Merely Relying on Certificate of Non-Completion of Construction: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that mere non completion certificate by the Developer isnot an enough ground to delete addition of scrutiny deposit. The case of...
![Addition of Amount of Security Deposit to Taxable Income of Jindal Construction cant be deleted Merely Relying on Certificate of Non-Completion of Construction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Addition-of-Amount-of-Security-Deposit-to-Taxable-Income-of-Jindal-Construction-cant-be-deleted-Merely-Relying-on-Certificate-of-Non-Completion-of-Construction-ITAT-TAXSCAN.jpg "Addition of Amount of Security Deposit to Taxable Income of Jindal Construction cant be deleted Merely Relying on Certificate of Non-Completion of Construction: ITAT [Read Order]")
![DCF Method of Valuation is Valid for Start-Up Companies u/s 145(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/DCF-Method-of-Valuation-DCF-Method-DCF-Method-of-Valuation-is-Valid-for-Start-Up-Companies-Start-Up-Companies-Income-Tax-Act-ITAT-Taxscan.jpg "DCF Method of Valuation is Valid for Start-Up Companies u/s 145(3) of Income Tax Act: ITAT [Read Order]")
Non-Filling of Audit Report Within Due Date is Venial Technical Breach without Any Malafide Intention of Assessee: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that non-filing of audit report within the due date is a venial technical breach without any mala fide intention on the part of the...
![Non-Filling of Audit Report Within Due Date is Venial Technical Breach without Any Malafide Intention of Assessee: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/audit-report.jpg "Non-Filling of Audit Report Within Due Date is Venial Technical Breach without Any Malafide Intention of Assessee: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]")
![Mere Determination of Income based on Surmise and Conjecture is Grossly Illegal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Determination-of-Income-based-on-Surmise-and-Conjecture-is-Grossly-Illegal-ITAT-TAXSCAN.jpg "Mere Determination of Income based on Surmise and Conjecture is Grossly Illegal: ITAT [Read Order]")
ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench upheld the addition made on account of unverifiable unsecured loan due to failure to prove creditworthiness of lenders. The assessee Kirat...
![ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-upholds-addition-made-on-account-of-Unverifiable-Unsecured-loan-due-to-failure-to-Prove-Creditworthiness-of-Lenders-TAXSCAN.jpg "ITAT upholds addition made on account of Unverifiable Unsecured loan due to failure to Prove Creditworthiness of Lenders [Read Order]")
Payment Made for Employees Contribution after Due Date cannot be Allowed as Deduction : ITAT Directs to Restrict Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that if the payment has been made with respect employees' contribution after the due date of the Income Tax Act, 1961, the same has to be...
![Payment Made for Employees Contribution after Due Date cannot be Allowed as Deduction : ITAT Directs to Restrict Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Payment-Made-for-Employees-Contribution-after-Due-Date-cannot-be-Allowed-as-Deduction-ITAT-Directs-to-Restrict-Disallowance-.jpg "Payment Made for Employees Contribution after Due Date cannot be Allowed as Deduction : ITAT Directs to Restrict Disallowance [Read Order]")
Management Support Services provided to various Hotels in India are not FTS as per Article 12(4) of India-Singapore DTAA: ITAT deletes Addition [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that management support services provided to various hotels in India are not Fee for Technical Service as per Article 12(4) of India...
![Management Support Services provided to various Hotels in India are not FTS as per Article 12(4) of India-Singapore DTAA: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Management-Support-Services-Management-Support-Services-provided-to-various-Hotels-in-India-FTS-India-Singapore-DTAA-DTAA-ITAT-deletes-Addition-ITAT-Addition-Taxscan.jpg "Management Support Services provided to various Hotels in India are not FTS as per Article 12(4) of India-Singapore DTAA: ITAT deletes Addition [Read Order]")