![Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Creditworthiness-Ascertained-only-from-Availability-of-Funds-Period-of-Existence-and-Revenue-Earning-Delhi-HC-upholds-Deletion-of-Addition-TAXSCAN.jpg "Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]")
Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]
The Delhi Bench of High court has upheld the deletion of addition under Section 68 of Income Tax ACT 1961 holding that creditworthiness could be...
![Bad debts acquired from predecessor-in-interest: Delhi HC upholds deletion of disallowance on bad debts amounting to Rs 5 crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Predecessor-in-Interest-Delhi-HC-Disallowance-Bad-Debts-taxscan.jpg "Bad debts acquired from predecessor-in-interest: Delhi HC upholds deletion of disallowance on bad debts amounting to Rs 5 crores [Read Order]")
Failure to Adhere to Mandatory Requirement of Section 144C(1) of Income Tax Act results in Invalidation of Final Assessment Order: Delhi HC [Read Order]
The Delhi High Court recently observed that the failure to adhere to mandatory requirement of Section 144C(1) of the Income Tax Act, 1961 results in invalidation of final assessment order. The...
![Failure to Adhere to Mandatory Requirement of Section 144C(1) of Income Tax Act results in Invalidation of Final Assessment Order: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-Mandatory-Requirement-Income-Tax-Act-Failure-to-Adhere-to-Mandatory-Requirement-delhi-hc-taxscan.jpg "Failure to Adhere to Mandatory Requirement of Section 144C(1) of Income Tax Act results in Invalidation of Final Assessment Order: Delhi HC [Read Order]")
![Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Addition-of-loss-Computation-of-Income-ITAT-Income-Tax-Appellate-Tribunal-taxscan.jpg "Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]")
Payment by Builder/ Developer for Compensation/Damages to Allottees is not Interest u/s 2(28) of Income Tax Act, No TDS: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held the compensation/damages paid by the assessee to its allottees cannot be tagged as interest under Section 2(28A) of the Income Tax...
![Payment by Builder/ Developer for Compensation/Damages to Allottees is not Interest u/s 2(28) of Income Tax Act, No TDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-Builder-Developer-for-Compensation-Damages-to-Allottees-Interest-Income-Tax-Act-TDS-ITAT-TAXSCAN.jpg "Payment by Builder/ Developer for Compensation/Damages to Allottees is not Interest u/s 2(28) of Income Tax Act, No TDS: ITAT [Read Order]")
Recovery Proceedings under Income Tax Act during pendency of Stay Application: Kerala HC directs to Decide Appeal within 3 months [Read Order]
The Kerala High Court directed to decide the appeal within 3 months as the recovery Proceedings under Income Tax Act, 1961 during pendency of stay application. Biju Krishna Pillai ,the...
![Recovery Proceedings under Income Tax Act during pendency of Stay Application: Kerala HC directs to Decide Appeal within 3 months [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Recovery-Proceedings-Income-Tax-Act-during-pendency-of-Stay-Application-Kerala-HC-directs-to-Decide-Appeal-TAXSCAN.jpg "Recovery Proceedings under Income Tax Act during pendency of Stay Application: Kerala HC directs to Decide Appeal within 3 months [Read Order]")
Relief to Amadeus IT Group: Delhi HC condones delay of 170 days in re-filing Income Tax Appeal [Read Order]
The Delhi High Court condoned the delay of 170 days in re-filing the Income Tax Appeal by Amadeus IT group and disposed of the petition as there was no question of law to be considered. The...
![Relief to Amadeus IT Group: Delhi HC condones delay of 170 days in re-filing Income Tax Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-Amadeus-IT-Group-Delhi-High-Court-condones-delay-re-filing-Income-Tax-Appeal-taxscan.jpg "Relief to Amadeus IT Group: Delhi HC condones delay of 170 days in re-filing Income Tax Appeal [Read Order]")
Recovery Proceedings Pursuant to Demand Notice: Kerala HC Directs Commissioner of Income Tax to Decide Appeal Within 2 Months [Read Order]
In a recent case, the Kerala High Court directed the commissioner of Income Tax to decide the appeal within 2 months since the petitioner is facing the recovery proceeding under the Income Tax...
![Recovery Proceedings Pursuant to Demand Notice: Kerala HC Directs Commissioner of Income Tax to Decide Appeal Within 2 Months [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Recovery-Proceedings-Pursuant-to-Demand-Notice-Kerala-HC-Directs-Commissioner-of-Income-Tax-to-Decide-Appeal-TAXSCAN.jpg "Recovery Proceedings Pursuant to Demand Notice: Kerala HC Directs Commissioner of Income Tax to Decide Appeal Within 2 Months [Read Order]")
Income Tax Authorities Issue Recovery cum Garnishee Orders During Pendency of Condonation Application: Kerala HC Orders 20% Deposit of Assessed Tax, Stays Orders [Read Order]
In a recent ruling, the Kerala high Court has stayed the Recovery cum Garnishee orders issued by the income tax authorities during the pendency of condonation applications on condition of pre-deposit...
![Income Tax Authorities Issue Recovery cum Garnishee Orders During Pendency of Condonation Application: Kerala HC Orders 20% Deposit of Assessed Tax, Stays Orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-recent-ruling-Authorities-Issue-Recovery-Kerala-high-Court-Garnishee-Orders-During-Pendency-Condonation-Application-Kerala-HC-Orders-Deposit-Assessed-Tax-Stays-Orders-taxscan.jpg "Income Tax Authorities Issue Recovery cum Garnishee Orders During Pendency of Condonation Application: Kerala HC Orders 20% Deposit of Assessed Tax, Stays Orders [Read Order]")