On-Money not found Credited in Books of Account during Search proceedings can't be brought to Tax: ITAT
The Income Tax Appellate Tribunal (ITAT) Mumbai has ruled that On-money that is not found credited in the books of account during search proceedings...
![Re-Assessment based on Mistake of Opinion is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Re-Assessment-Mistake-of-Opinion-ITAT-Taxscan.jpeg "Re-Assessment based on Mistake of Opinion is Invalid: ITAT [Read Order]")
![Taxability of Commission/Bonus to Employee: Madras High Court allows Deduction u/s 36(1)(ii) of the Income Tax Act [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/03/Taxability-of-Commission-Bonus-to-Employee-Madras-High-Court-deduction-Income-Tax-Act-taxscan.jpg "Taxability of Commission/Bonus to Employee: Madras High Court allows Deduction u/s 36(1)(ii) of the Income Tax Act [Read Judgment]")
![Divorce proceeding by daughter-in-law sufficient reason to condone delay: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Divorce-proceeding-daughter-in-law-sufficient-reason-condone-delay-ITAT-Taxscan.jpg "Divorce proceeding by daughter-in-law sufficient reason to condone delay: ITAT [Read Order]")
![Benefit of Higher Tolerance band of 10% for difference between the Sale Price of Flat and Stamp Duty Valuation to apply retrospectively: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/tolerance-band-sale-price-stamp-duty-valuation-ITAT-Taxscan.jpg "Benefit of Higher Tolerance band of 10% for difference between the Sale Price of Flat and Stamp Duty Valuation to apply retrospectively: ITAT [Read Order]")
Mere inadequacy of an enquiry or insufficiency of material on record can’t be a ground to invoke Revisional Powers: Karnataka HC [Read Judgment]
The Karnataka High Court held that mere inadequacy of an enquiry or insufficiency of material on record can not be a ground to invoke revisional powers under Section 263 of the Income Tax Act, 1961. ...
![Mere inadequacy of an enquiry or insufficiency of material on record can’t be a ground to invoke Revisional Powers: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/Mere-inadequacy-enquiry-sufficiency-material-record-ground-invoke-Revisional-Powers-Karnataka-High-court-Taxscan.jpg "Mere inadequacy of an enquiry or insufficiency of material on record can’t be a ground to invoke Revisional Powers: Karnataka HC [Read Judgment]")
Foreign Currency Expenditure for providing Software Development Services can’t be excluded from Export Turnover for Computing Deduction: Karnataka HC [Read Judgment]
The Karnataka High Court held that the Foreign currency expenditure incurred for providing software development services outside India cannot be excluded from export turnover for the purpose of...
![Foreign Currency Expenditure for providing Software Development Services can’t be excluded from Export Turnover for Computing Deduction: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Foreign-currency-expenditure-software-development-services-Taxscan.jpg "Foreign Currency Expenditure for providing Software Development Services can’t be excluded from Export Turnover for Computing Deduction: Karnataka HC [Read Judgment]")
![ITAT quashes Income Tax proceedings against Bata India [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/bata-india.jpg "ITAT quashes Income Tax proceedings against Bata India [Read Order]")
![ITAT allows Deduction incurred for Expensive Gifts to Public Sector Employees [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/ITAT-deduction-incurred-gifts-public-sector.jpg "ITAT allows Deduction incurred for Expensive Gifts to Public Sector Employees [Read Order]")
![ATMs are Computers, Entitled to a Higher Rate of Depreciation: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/06/ATM-Depreciation-Karnataka-High-Court-Taxscan.jpg "ATMs are Computers, Entitled to a Higher Rate of Depreciation: Karnataka HC [Read Judgment]")
Dismissal of Appeal for want of E-Filing is justified considering Non-Serious Attitude of Assessee: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of the Commissioner of Income Tax (Appeals) rejecting the appeal memo filed by the assessee since e-filing was not done...
![Dismissal of Appeal for want of E-Filing is justified considering Non-Serious Attitude of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/10/Annual-Filing-ICSI-Taxscan.jpg "Dismissal of Appeal for want of E-Filing is justified considering Non-Serious Attitude of Assessee: ITAT [Read Order]")
![Depreciation can’t be claimed on Undivided Share of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/Depreciation-ITAT-Undivided-Share-Taxscan.jpg "Depreciation can’t be claimed on Undivided Share of Land: ITAT [Read Order]")