![Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Shortage-Principal-in-Lending-Business-Lending-Business-Bad-Debt-ITAT-Taxscan.jpg "Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]")
Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, held shortage towards principal in a lending...
![Payment to Volunteers for Drug Analysis Supported by Signed Vouchers Allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Payment-Volunteers-Drug-Supported-Vouchers-ITAT-TAXSCAN.jpg "Payment to Volunteers for Drug Analysis Supported by Signed Vouchers Allowable as Expenditure: ITAT [Read Order]")
![Checking, Cross-checking and Reconciliation of Data was A Very Lengthy Process and a Valid “Reasonable Cause” for Non-filing of ITR, No Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Checking-Cross-checking-Reconciliation-Reasonable-Cause-ITR-Penalty-ITAT-TAXSCAN.jpg "Checking, Cross-checking and Reconciliation of Data was A Very Lengthy Process and a Valid “Reasonable Cause” for Non-filing of ITR, No Penalty: ITAT [Read Order]")
![Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would Entitle Assessee to Claim Full Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-Exemption-Beneficial-Provision-Substantial-Compliance-Assessee-Full-Deduction-Deduction-ITAT-Taxscan.jpg "Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would Entitle Assessee to Claim Full Deduction: ITAT [Read Order]")
![Non-Registered Banakhat is Not A Valid Document for Property Transfer: ITAT disallows Capital Gain Exemption u/s 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Non-Registered-Banakhat-Property-Transfer-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Non-Registered Banakhat is Not A Valid Document for Property Transfer: ITAT disallows Capital Gain Exemption u/s 54F [Read Order]")
TDS Credit shall be given for the Assessment year for which such Income is Assessable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmadabad Bench, has recently, in an appeal filed before it, held that TDS credit shall be given for the assessment year for which such income is assessable....
![TDS Credit shall be given for the Assessment year for which such Income is Assessable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/TDS-Credit-Assessment-Income-ITAT-TAXSCAN.jpg "TDS Credit shall be given for the Assessment year for which such Income is Assessable: ITAT [Read Order]")
Bogus Capital Gain,No adverse inference could be drawn against Assessee based on Misuse of Share Market by some persons: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that adverse inference can’t be drawn against the assessee based on misuse of the share market to bogus capital gain by some...
![Bogus Capital Gain,No adverse inference could be drawn against Assessee based on Misuse of Share Market by some persons: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Bogus-Capital-Gain-Assessee-Share-Market-some-persons-ITAT-TAXSCAN.jpg "Bogus Capital Gain,No adverse inference could be drawn against Assessee based on Misuse of Share Market by some persons: ITAT [Read Order]")
Addition to Difference in Stock as per Books and Valuation Report can't be made without Credible Evidence: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation report can't be made without credible evidence. The...
![Addition to Difference in Stock as per Books and Valuation Report cant be made without Credible Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Addition-Difference-in-Stock-Books-and-Valuation-Report-Credible-Evidence-Evidence-ITAT-Taxscan.jpg "Addition to Difference in Stock as per Books and Valuation Report cant be made without Credible Evidence: ITAT [Read Order]")
Amount paid to Partner of LLP out of balance of Accumulated Profits due to Commercial Expediency Not Taxable as “Capital Gain”, No violation of S. 47(xiiib)(f): ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) removed the Assessing Officer's addition and determined that the sum given to the LLP partner from the remaining Accumulated Profits due...
![Amount paid to Partner of LLP out of balance of Accumulated Profits due to Commercial Expediency Not Taxable as “Capital Gain”, No violation of S. 47(xiiib)(f): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/LLP-Accumulated-Profits-Taxable-Capital-Gain-S47xiiibf-ITAT-TAXSCAN.jpg "Amount paid to Partner of LLP out of balance of Accumulated Profits due to Commercial Expediency Not Taxable as “Capital Gain”, No violation of S. 47(xiiib)(f): ITAT [Read Order]")
![Compensation received for Non-Performance of Obligation by DDA is Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Compensation-DDA-Capital-Receipt-ITAT-Income-tax-tax-taxscan.jpg "Compensation received for Non-Performance of Obligation by DDA is Capital Receipt: ITAT [Read Order]")
Interest Allowable to Delay in Refund in case of Self-Assessed Tax u/s 244A(1) of Income Tax Act: ITAT [Read Order]
Pune bench of Income Tax Appellate Tribunal (ITAT) ruled that interest is allowed to delay in refund in self-assessment tax under section 244A(1) of Income Tax Act, 1961. The appeal was filed by...
![Interest Allowable to Delay in Refund in case of Self-Assessed Tax u/s 244A(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Interest-Refund-Self-Assessed-Tax-us-244A1-Income-Tax-Act-ITAT-TAXSCAN.jpg "Interest Allowable to Delay in Refund in case of Self-Assessed Tax u/s 244A(1) of Income Tax Act: ITAT [Read Order]")
![Appeal filed after 4 Years cannot be Condoned without Valid Reason: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Appeal-Condoned-Valid-Reason-ITAT-TAXSCAN.jpg "Appeal filed after 4 Years cannot be Condoned without Valid Reason: ITAT [Read Order]")