![ITAT deletes Disallowance of Rs.26.25 Lakh u/s 36(1)(iii) based on Records of Sufficient Interest-Free Funds and Commercial Expediency [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-ITAT-judgment-on-commercial-expediency-Tax-disallowance-under-Section-36-TAXSCAN.webp "ITAT deletes Disallowance of Rs.26.25 Lakh u/s 36(1)(iii) based on Records of Sufficient Interest-Free Funds and Commercial Expediency [Read Order]")
ITAT deletes Disallowance of Rs.26.25 Lakh u/s 36(1)(iii) based on Records of Sufficient Interest-Free Funds and Commercial Expediency [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the disallowance of Rs. 26.25 Lakh under Section 36(1)(iii) of Income Tax...
![AO passes Ex Parte Assessment Order without considering ITR Filed in response to S. 148: ITAT directs to pass Order afresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Ahmedabad-Ex-Parte-Assessment-Order-ITR-Filed-Section-148-Income-Tax-Act-taxscan.jpg "AO passes Ex Parte Assessment Order without considering ITR Filed in response to S. 148: ITAT directs to pass Order afresh [Read Order]")
![80C Deduction cannot be denied Solely due to Incorrect Filing of ITR-5 Instead of ITR-2: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Income-Tax-Appellate-Tribunal-Filing-of-ITR-ITR-Income-Tax-Return-Section-80C-Section-80C-Income-Tax-Act-TAXSCAN.jpg "80C Deduction cannot be denied Solely due to Incorrect Filing of ITR-5 Instead of ITR-2: ITAT [Read Order]")
![Cash Seized from Partner’s Premises Cannot Be Adjusted Against Partnership Firm’s Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-ITAT-Bangalore-ITAT-Updates-Partnership-Firm-Tax-TAXSCAN.jpg "Cash Seized from Partner’s Premises Cannot Be Adjusted Against Partnership Firm’s Tax Liability: ITAT [Read Order]")
![S.68 of Income Tax Act not Attracted on Violation of RBI Notifications if Nature of Cash Deposit Adequately Explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Income-Tax-Act-ITAT-RBI-Notifications-RBI-cash-deposit-case-TAXSCAN.jpeg "S.68 of Income Tax Act not Attracted on Violation of RBI Notifications if Nature of Cash Deposit Adequately Explained: ITAT [Read Order]")
TP Adjustment cannot be at ‘NIL’ as determined by the TPO: ITAT directs TPO to consider ALP afresh [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the Transfer Pricing Officer ( TPO ) erred in setting the Arm’s Length Price ( ALP ) for Intra Group Services at NIL for the...
![TP Adjustment cannot be at ‘NIL’ as determined by the TPO: ITAT directs TPO to consider ALP afresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-TP-Adjustment-by-TPO-Intra-Group-Services-TAXSCAN.jpg "TP Adjustment cannot be at ‘NIL’ as determined by the TPO: ITAT directs TPO to consider ALP afresh [Read Order]")
AO made Addition u/s 68 due to Mismatch in Loan Creditor's Voter ID and Bank Statement Photo: ITAT remands to Produce Evidence [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the Assessing Officer's ( AO ) addition under Section 68 of the Income Tax Act, 1961 matter, which was based on a mismatched...
![AO made Addition u/s 68 due to Mismatch in Loan Creditors Voter ID and Bank Statement Photo: ITAT remands to Produce Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-ITAT-Delhi-Bank-loan-Statement-TAXSCAN.jpg "AO made Addition u/s 68 due to Mismatch in Loan Creditors Voter ID and Bank Statement Photo: ITAT remands to Produce Evidence [Read Order]")
Relief to Microsoft and Others as Delhi HC quashes Income Tax Assessment Order issued w/o Draft Order [Read Order]
In this case, one of the writ petitioners, Microsoft India, had filed its Income Tax Returns ( ITR ) on 30, 2008, for the Assessment Year 2008-2009. The returns filed were selected for scrutiny, and...
![Relief to Microsoft and Others as Delhi HC quashes Income Tax Assessment Order issued w/o Draft Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Income-Tax-Returns-ITR-Microsoft-income-tax-case-India-TAXSCAN.jpg "Relief to Microsoft and Others as Delhi HC quashes Income Tax Assessment Order issued w/o Draft Order [Read Order]")
CIT(A) Pronounces Ex-Parte decision on Unexplained Cash Credits ignoring Adjournment Request filed through Email: ITAT remands Matter [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter concerning unexplained cash credits back to the Commissioner of Income Tax (Appeals). This decision was taken...
![CIT(A) Pronounces Ex-Parte decision on Unexplained Cash Credits ignoring Adjournment Request filed through Email: ITAT remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/TAT-Income-Tax-Appellate-Tribunal-ITAT-delhi-CITA-Ex-Parte-Decision-Cash-Credits-Unexplained-Cash-Credits-TAXSCAN.jpg "CIT(A) Pronounces Ex-Parte decision on Unexplained Cash Credits ignoring Adjournment Request filed through Email: ITAT remands Matter [Read Order]")
Acceptance of Purchase and Sale Documents: ITAT deletes Addition of Income from Property Transaction u/s 69A by AO [Read Order]
The New Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition made by the assessing officer under section 69A of the Income Tax Act, 1961. The decision followed as the AO...
![Acceptance of Purchase and Sale Documents: ITAT deletes Addition of Income from Property Transaction u/s 69A by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-Income-Tax-Act-Purchase-and-Sale-Documents-by-ITAT-TAXSCAN.jpg "Acceptance of Purchase and Sale Documents: ITAT deletes Addition of Income from Property Transaction u/s 69A by AO [Read Order]")
Section 56(2)(viib) of Income Tax not attracted when Shares issued below Market Value Determined by AO: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that Section 56(2)(viib) of the Income Tax Act, 1961 does not apply when shares are issued at a premium below the market value...
![Section 56(2)(viib) of Income Tax not attracted when Shares issued below Market Value Determined by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-ITAT-Delhi-AO-Share-Value-Determination-TAXSCAN.jpg "Section 56(2)(viib) of Income Tax not attracted when Shares issued below Market Value Determined by AO: ITAT [Read Order]")
Non-Adjudication and Failure to State Point of Determination u/s 250(6) of Income Tax: ITAT remands Matter to CIT(A) [Read Order]
The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Commissioner Of Income Tax (Appeals) due to non-adjudication and failure to state the point of determination under...
![Non-Adjudication and Failure to State Point of Determination u/s 250(6) of Income Tax: ITAT remands Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-Adjudication-process-Income-Tax-Act-TAXSCAN.jpg "Non-Adjudication and Failure to State Point of Determination u/s 250(6) of Income Tax: ITAT remands Matter to CIT(A) [Read Order]")