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ITAT allows Income Tax Deduction of Expenditure on Goods Carriages taken on Hire [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench allowed deduction of expenditure on goods carriages taken on hire. The appeal has been...

Failure to Produce relevant Evidence: ITAT confirms Addition of Capital Gain by Disallowing Cost of...

Expenses in Nature of General Administration and Selling Cost are Deductible as Revenue Expenditure:...

No Evidence of Rental receipt from Property: ITAT sustain Addition on Cash Deposits into Bank...

Income Tax Authorities Bound to Follow CBDT Circulars: ITAT [Read Order]

Maintenance Charges derived from Letting out Services taxable under the head ‘Income from Other Sources’: ITAT [Read Order]

Maintenance charges derived from letting out services taxable under the head “income from other sources”, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) held as above. Shri R....

No Legal or Factual Issue on Merits can be Argued or Re- Argued While Considering Rectification Application: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that no legal or factual issue on merits can be argued or re- argued while considering...

Rental Income not to be Assessed as ‘Business Income’, Adjustment Made u/s 143(3) Unsustainable in Law: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench, has recently, in an appeal filed before it, held that rental income shall not to be assessed as ‘business income’, and that adjustment made u/s...

Delay in deciding Stay Application due Non Transfer of File to New AO: Assessing Officer Apologises to Delhi HC [Read Order]

In a recent incident, an Assessing Officer apologized to the Delhi High Court for an inordinate delay in deciding the stay application due to a delay in handing over the files to the present...

Relief to Adidas: AMP Expenses Incurred for Own Benefit not Amount to International Transaction, rules ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), New Delhi, has recently, in an appeal preferred before it, held that, AMP expenses incurred for own benefit will not amount to international transaction. ...

Manual Filing of Appeal due to Lack of Awareness regarding E-Filing procedures: ITAT restores matter to CIT for fresh adjudication [Read Order]

In an assessee friendly judgment, the Income Tax Appellate Tribunal (ITAT), Mumbai bench restored the matter to the file of Commissioner of Income Tax (CIT) for fresh adjudication on the ground that...

In Cases of Divergent Views, The One Which is More Beneficial to the Assessee to be Adopted: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, has recently in an appeal filed before it, held that in cases of divergent views, the which is more beneficial to the assessee is to be...

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