![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]")
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 (...
![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]](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]](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]](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]")
S.80P(2)(d) Exclusion on Fixed Deposit Interest has to be considered u/s 57 of Income Tax: ITAT directs AO to Reassess Matter [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer (AO) to reassess the fixed deposit interest claims of Tungabhadra Credit Co-operative Society,...
![S.80P(2)(d) Exclusion on Fixed Deposit Interest has to be considered u/s 57 of Income Tax: ITAT directs AO to Reassess Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-bangalore-Fixed-Deposit-Fixed-Deposit-Interest-Assessing-Officer-Section-80P2d-taxscan.jpg "S.80P(2)(d) Exclusion on Fixed Deposit Interest has to be considered u/s 57 of Income Tax: ITAT directs AO to Reassess Matter [Read Order]")
Relief to Bank of Bahrain & Kuwait: ITAT Allows Deduction from Book Profit for Withdrawn Reserves Credited to P&L Account u/s 115JB [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has provided relief to the Bank of Bahrain & Kuwait by ruling that when reserves or provisions are created in a year where the...
![Relief to Bank of Bahrain & Kuwait: ITAT Allows Deduction from Book Profit for Withdrawn Reserves Credited to P&L Account u/s 115JB [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-ITAT-Allows-Deduction-Bank-of-Bahrain-Kuwait-Taxscan.jpg "Relief to Bank of Bahrain & Kuwait: ITAT Allows Deduction from Book Profit for Withdrawn Reserves Credited to P&L Account u/s 115JB [Read Order]")
ITAT grants Trust Second chance to Prove Genuineness of Activities, remands Registration Application to CIT(E) [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) granted Trust a second chance to prove the genuineness of its activities and remanded the registration application under Section...
![ITAT grants Trust Second chance to Prove Genuineness of Activities, remands Registration Application to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Jaipur-remands-Registration-Genuineness-of-Activities-Taxscan.jpg "ITAT grants Trust Second chance to Prove Genuineness of Activities, remands Registration Application to CIT(E) [Read Order]")
AO's Share Capital/Premium Addition Invalid Due to Absence of Incriminating Evidence in Search: ITAT [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) invalidated the addition made by the assessing officer for share capital/premium due to the absence of incriminating evidence found during...
![AOs Share Capital/Premium Addition Invalid Due to Absence of Incriminating Evidence in Search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Pune-Incriminating-Evidence-AO-Taxscan.jpg "AOs Share Capital/Premium Addition Invalid Due to Absence of Incriminating Evidence in Search: ITAT [Read Order]")