![No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-disallowance-on-claim-of-Capital-Loss-computed-after-Transfer-of-Possession-of-Property-disallowance-on-claim-of-Capital-Loss-disallowance-Capital-Loss-ITAT-deletes-Addition-ITAT-Taxscan.jpg "No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]")
No disallowance on claim of Capital Loss computed after Transfer of Possession of Property: ITAT deletes Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that no disallowance on a claim of capital loss is computed after the transfer of...
![Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Service-Tax-Paid-by-Contractor-for-Value-of-Work-is-not-Part-of-Gross-Receipts-Service-Tax-Paid-by-Contractor-Service-Tax-Contractor-ITAT-Taxscan.jpg "Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]")
![Default in Proper Communication by CA to NRI Assessee of Income Tax Notices: ITAT Condones Delay of 379 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Default-in-Proper-Communication-CA-to-NRI-Assessee-of-Income-Tax-Notices-ITAT-Condones-Delay-TAXSACN.jpg "Default in Proper Communication by CA to NRI Assessee of Income Tax Notices: ITAT Condones Delay of 379 Days [Read Order]")
![Claim of Expenditure Incurred for Club Membership Rejected on Ground of “Non-Business Expense”: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Expenditure-Incurred-for-Club-Membership-Claim-of-Expenditure-Incurred-Expenditure-Incurred-Club-Membership-Non-Business-Expense-ITAT-Taxscan.jpg "Claim of Expenditure Incurred for Club Membership Rejected on Ground of “Non-Business Expense”: ITAT Directs Re-adjudication [Read Order]")
Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s 57 of Income Tax Act: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that the interest expenses incurred for earning income from loans and advances should not be disallowed under Section 57...
![Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s 57 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Expenses-Income-from-Loans-Income-Loans-Loans-and-Advances-Disallowed-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s 57 of Income Tax Act: ITAT [Read Order]")
Assessment framed u/s 147 of I T Act on Information under Project Falcon regarding Trading on United Stock Exchange of India not borne out of any record: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that assessment framed under Section 147 of Income Tax Act,1961 on information under Project Falcon regarding trading...
![Assessment framed u/s 147 of I T Act on Information under Project Falcon regarding Trading on United Stock Exchange of India not borne out of any record: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessment-framed-I-T-Act-on-Information-under-Project-Falcon-regarding-Trading-on-United-Stock-Exchange-of-India-ITAT-TAXSCAN.jpg "Assessment framed u/s 147 of I T Act on Information under Project Falcon regarding Trading on United Stock Exchange of India not borne out of any record: ITAT [Read Order]")
ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently deleted an addition made on account of disallowance of interest expenses accrued on account of investment made in...
![ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-made-by-disallowance-of-Interest-Expenses-accrued-from-Investment-made-in-Shares-and-Securities-TAXSCAN.jpg "ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]")
No Addition on Unexplained Income received as Gift from Family Members: ITAT directs Re-Adjudication
The Indore bench of Income Tax Appellate Tribunal (ITAT) held that no addition can be made on unexplained income which was received as gift from the family members for personal use. Hemant Pandya,...
Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the interest on Fixed Deposit (FD) received during the setting-up of business is not a Business Income but shall be treated as...
![Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-on-FD-received-during-setting-up-of-business-not-Business-Income-but-Income-from-Other-Sources-ITAT-.jpg "Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]")
Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenue's Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, dismissed the revenue’s appeal, on finding that there is lack of jurisdiction under Section 153C of...
![Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Lack-of-Jurisdiction-Absence-of-Incriminating-Materials-ITAT-dismisses-Revenues-Appeal-TAXSCAN.jpg "Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenues Appeal [Read Order]")
