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Disallowance

Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s. 115JB [Read Order]

set aside a disallowance of ₹33.83 crore made under Section 37 of the Income TaxAct, 1961, along with the corresponding addition to book profits...

Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review...

Purchases Disallowed Merely Because Suppliers Failed to File ITR: ITAT Rejects Disallowance [Read...

ITAT Weekly Round-up

No Presumptive Disallowance u/s 14A: ITAT Deletes ₹118.68 Cr Addition Against Great Eastern Spinning...

No 115JB Adjustment for Section 14A: ITAT Upholds CIT(A)'s ₹71 Lakh Cap [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT), held that no adjustment under Section 115JB relating to disallowance under Section 14A of the IncomeTax Act, 1961 can be made while...

Vodafone West Ltd Gets Relief: ITAT Deletes Disallowance of Roaming Charges, Citing Binding Precedent on Non-Deduction of Tax [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted the disallowance of roaming charges amounting to ₹64,81,13,995 claimed by ruling that the non-deduction of tax on these payments ...

Omission in Sec.14A Disclosure Enables Reopening Beyond 4 Years: Madras HC Restores Proceedings Against City Union Bank [Read Order]

The Madras High Court has allowed the Income Tax Department’s writ appeal against City Union Bank, reversing a single judge’s order that had quashed reassessment proceedings for AY 2011-12.The...

IPLC Payments Not ‘Royalty’ u/s 9 of Income Tax Act: Madras HC sets aside Disallowance u/s 40(a)(i) in Cognizant's Case [Read Order]

The Madras High Court, in a recent case, has held that payments made by Cognizant Technology Solutions India Pvt. Ltd. to Sprint USA for International Private Leased Circuit (IPLC) services are not...

Disallowance of Stock Write-Down u/s 37(1) without Examining Evidence Unjustified: ITAT Remands Matter for Fresh Adjudication [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Mumbai Bench set aside the order of the CIT(A), and remanded the matter for fresh adjudication as the disallowance of the stock...

Disallowance of Weighted R&D Deduction u/s 35(2AB): ITAT Holds Non-Filing of Form 3CL Not Fatal [Read Order]

The Indore Bench of the Income Tax Appellate Tribunal (ITAT) held that non-filing of Form 3CL cannot be a ground to deny deduction under Section 35(2AB) when the assessee’s research activity is...

ITAT Limits Non-TDS Interest Disallowance to 30% as per Finance Act 2014 Amendment [Read Order]

The Nagpur bench of the Income Tax Appellate Tribunal (ITAT) has partially allowed a doctor’s appeal concerning interest disallowance under Section 40(a)(ia) for non-deduction of Tax Deducted at...