Gratuitous Loan by Company to Shareholders in Return to an advantage cannot be treated as Deemed Dividend: ITAT deletes Addition u/s 2(22)(e)
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) presided by Mr. Anil Chaturvedi, Accountant Member, and Ms. Astha Chandra, Judicial Member...
![Serving of Liqour on Seminars conducted by Federation of Delhi Textile Merchants is not Charitable Activity: ITAT directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Serving-of-Liqour-on-Seminars-conducted-by-Federation-of-Delhi-Textile-Merchants-Charitable-Activity-ITAT-Adjudication-taxscan.jpg "Serving of Liqour on Seminars conducted by Federation of Delhi Textile Merchants is not Charitable Activity: ITAT directs Fresh Adjudication [Read Order]")
![Payment made for Usage of Software is Revenue Expenditure: ITAT allows Income Tax Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Payment-software-revenue-expenditure-deduction-ITAT-taxscan.jpeg "Payment made for Usage of Software is Revenue Expenditure: ITAT allows Income Tax Deduction [Read Order]")
![Contract involves Services, as well as Supply/Deemed Supply of Goods, can only Classify under head Works Contract Services: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Contract-involves-Services-Supply-Deemed-Supply-of-Goods-Works-Contract-Services-CESTAT-taxscan.jpeg "Contract involves Services, as well as Supply/Deemed Supply of Goods, can only Classify under head Works Contract Services: CESTAT [Read Order]")
![Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/license-depreciation-intangible-asset-ITAT-taxscan.jpeg "Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]")
Misconception on facts of Case: ITAT sets aside Dismissal of Appeal stating Non-Compliance u/s 249(4)(b) [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi set aside the dismissal of the appeal stating noncompliance under Section 249(4)(b) on the ground of misconception of facts. The assessee, Tulsi...
![Misconception on facts of Case: ITAT sets aside Dismissal of Appeal stating Non-Compliance u/s 249(4)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/case-ITAT-appeal-taxscan.jpeg "Misconception on facts of Case: ITAT sets aside Dismissal of Appeal stating Non-Compliance u/s 249(4)(b) [Read Order]")
Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the addition of unexplained cash credit does not sustain when the creditworthiness and genuineness of the transaction are...
![Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/cash-credit-transaction-ITAT-taxscan.jpg "Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]")
Relief to Indigo Airlines: Credit/Subsidy from Suppliers of Aircraft Engines and other Components are Capital Receipts, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the credit or subsidy from suppliers of aircraft engines and other components are capital receipts and deleted the addition. The...
![Relief to Indigo Airlines: Credit/Subsidy from Suppliers of Aircraft Engines and other Components are Capital Receipts, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Indigo-Airlines-Subsidy-Aircraft-Engines-Capital-Receipts-ITAT-taxscan.jpeg "Relief to Indigo Airlines: Credit/Subsidy from Suppliers of Aircraft Engines and other Components are Capital Receipts, rules ITAT [Read Order]")
Liquor License obtained in the Name of Benami/Employee is Illegal: ITAT disallows Business Expenditure [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has disallowed a claim of business expenditure towards the payment of license fee by observing that the assessee illegally obtained the...
![Liquor License obtained in the Name of Benami/Employee is Illegal: ITAT disallows Business Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Liquor-License-Benami-Employee-ITAT-Business-Expenditure-taxscan.jpg "Liquor License obtained in the Name of Benami/Employee is Illegal: ITAT disallows Business Expenditure [Read Order]")
TDS u/s 194IA not Applicable for Property Purchase If Sale Consideration paid by each Co-Owner is below Rs. 50 Lakhs: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the provisions of section 194IA of the Income Tax Act, 1961 will not be applicable if the consideration paid by each co-owner is...
![TDS u/s 194IA not Applicable for Property Purchase If Sale Consideration paid by each Co-Owner is below Rs. 50 Lakhs: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/TDS-Property-Purchase-ITAT-taxscan.jpeg "TDS u/s 194IA not Applicable for Property Purchase If Sale Consideration paid by each Co-Owner is below Rs. 50 Lakhs: ITAT [Read Order]")
Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that notice under section 274 fails to specify the reason for the imposition of penalty and deletes the penalty imposed under section...
![Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Notice-ITAT-Penalty-taxscan.jpg "Notice u/s 274 fails to specify the Reason for Imposition of Penalty: ITAT deletes Penalty u/s 271(c)(1) [Read Order]")
![Delay in Filling Appeal cant be condoned when Assessee failed to explain cause: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/appeal-assessee-ITAT-taxscan.jpg "Delay in Filling Appeal cant be condoned when Assessee failed to explain cause: ITAT [Read Order]")