![Investment for affording financial security to wife in old age out of explained funds, not unexplained investment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Investment-for-affording-financial-security-explained-funds-unexplained-investment-ITAT-TAXSCAN.jpg "Investment for affording financial security to wife in old age out of explained funds, not unexplained investment: ITAT [Read Order]")
Investment for affording financial security to wife in old age out of explained funds, not unexplained investment: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the investment for affording financial security to wife in old age out of...
![No addition can be made on basis of Notional Interest due to failure to Receive Interest for loan Advances by assessee Finance Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Notional-Interest-failure-to-receive-Interest-for-loan-failure-to-receive-Interest-Interest-for-loan-loan-Interest-Finance-Company-ITAT-Taxscan.jpg "No addition can be made on basis of Notional Interest due to failure to Receive Interest for loan Advances by assessee Finance Company: ITAT [Read Order]")
![No Income Tax on Partner for Share in Profit of Partnership Firm: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Income-Tax-on-Partner-for-Share-in-Profit-of-Partnership-Firm-ITAT-Income-Tax-Act-TAXSCAN.jpg "No Income Tax on Partner for Share in Profit of Partnership Firm: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
![Original Return of Income filed before time prescribed u/s 139(1) of Income Tax Act: ITAT allows Claim of Deduction u/s.80JJAA of Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Original-Return-Income-filed-time-prescribed-Income-Tax-Act-ITAT-claim-deduction-TAXSCAN.jpg "Original Return of Income filed before time prescribed u/s 139(1) of Income Tax Act: ITAT allows Claim of Deduction u/s.80JJAA of Act [Read Order]")
![Failure to explain Credit Card Payments with Supporting Documentary Evidence: ITAT Deletes partial Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Failure-to-explain-Credit-Card-Payments-Supporting-Documentary-Evidence-ITAT-Deletes-partial-Addition-TAXSCAN.jpg "Failure to explain Credit Card Payments with Supporting Documentary Evidence: ITAT Deletes partial Addition [Read Order]")
Appeal under Income Tax Act against Assessment Order Passed u/s 147 Pending Before CIT(A): Calcutta HC dismisses WPÂ [Read Order]
The Calcutta High Court dismissed the Writ Petition since the appeal under the Income Tax Act, 1961 against the assessment order passed under section 147 of the Income Tax Act is pending before the...
![Appeal under Income Tax Act against Assessment Order Passed u/s 147 Pending Before CIT(A): Calcutta HC dismisses WPÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Appeal-Income-Tax-Act-Assessment-Order-Passed-taxscan.jpg "Appeal under Income Tax Act against Assessment Order Passed u/s 147 Pending Before CIT(A): Calcutta HC dismisses WPÂ [Read Order]")
AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the AO(Assessing Officer) /TPO(Transfer Pricing Officer) is not required to make the adjustment on notional basis when the...
![AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Adjustments-Assessee-Extended-Credits-Period-Non-AE-Charging-Interest-Delayed-Payment-ITAT-taxscan.jpg "AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]")
Revisionary Powers u/s 263 of Income Tax Act not prevails if AO Conducts Inquiry and Verification during Assessment: ITAT quashes Revision Order [Read Order]
The Pune Bench of Income Tax Appellate Tribunal has quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961. The ITAT...
![Revisionary Powers u/s 263 of Income Tax Act not prevails if AO Conducts Inquiry and Verification during Assessment: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Revisionary-Powers-Income-Tax-Act-not-prevails-if-AO-Conducts-Inquiry-and-Verification-during-Assessment-ITAT-quashes-Revision-Order-TAXSCAN.jpg "Revisionary Powers u/s 263 of Income Tax Act not prevails if AO Conducts Inquiry and Verification during Assessment: ITAT quashes Revision Order [Read Order]")
Madras HC Upholds Order passed by Deputy Commissioner u/s 220(6) of Income Tax Act on ground of Non-appearance of Petitioner [Read Order]
The Madras High Court upheld the order passed by the Deputy Commissioner under section 220(6) of the Income Tax Act,1961 on the ground of non-appearance of the petitioner. Doosan power...
![Madras HC Upholds Order passed by Deputy Commissioner u/s 220(6) of Income Tax Act on ground of Non-appearance of Petitioner [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Madras-HC-Madras-HC-Upholds-Order-Madras-HC-Upholds-Order-passed-by-Deputy-Commissioner-taxscan.jpg "Madras HC Upholds Order passed by Deputy Commissioner u/s 220(6) of Income Tax Act on ground of Non-appearance of Petitioner [Read Order]")
Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]
The Karnataka High Court granted relief to Manipal Finance Corporation Limited by dismissing the appeal of the revenue. The high court has dismissed the same on the grounds of monetary limits. The...
![Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Relief-to-Manipal-Finance-Corporation-Ltd-Karnataka-HC-dismisses-Appeal-of-Revenue-on-Grounds-of-Monetary-Limits-TAXSCAN.jpg "Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]")
Income Tax on sum received from Mother-in-Law by way Settlement of case in Court: ITAT directs Fresh Adjudication on ground of failing to make enquiry of correctness of claim [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed fresh adjudication on grounds of failing to make enquiry on the correctness of claim of sum received from mother -in-law by way...
![Income Tax on sum received from Mother-in-Law by way Settlement of case in Court: ITAT directs Fresh Adjudication on ground of failing to make enquiry of correctness of claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Tax-sum-Mother-in-Law-Settlement-case-Court-ITAT-directs-taxscan.jpg "Income Tax on sum received from Mother-in-Law by way Settlement of case in Court: ITAT directs Fresh Adjudication on ground of failing to make enquiry of correctness of claim [Read Order]")
No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that no cash paid for taking reversal of entry as commission through proper banking channel by assessee. Hence, held that the revision order...
![No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-cash-paid-taking-reversal-entry-commission-proper-banking-channel-ITAT-revision-order-TAXSCAN.jpg "No cash Paid for taking Reversal of Entry as Commission through Proper Banking Channel: ITAT quashes Revision Order [Read Order]")