Deletion of Disallowance of Expenditure on Education u/s 37 of Income Tax Act is justified as Assessee Furnished Detailed Information Related to Education fees of Director: ITAT Dismisses Revenue Appeal
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the deletion of the disallowance of Education Expenditure under Section 37 of...
![Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-of-Expenditure-Income-earning-securities-Stock-in-trade-ITAT-grants-relief-Central-Bank-of-India-taxscan.jpg "Disallowance of Expenditure u/s 14A cant be made when exempt Income-earning securities are held as Stock-in-trade: ITAT grants relief to Central Bank of India [Read Order]")
![Income of Hire Charges cant be earned without incurring Expenditure, Disallowance of Expenditure not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Income-disallowance-of-expenditure-sustainable-ITAT-Taxscan.jpg "Income of Hire Charges cant be earned without incurring Expenditure, Disallowance of Expenditure not sustainable: ITAT [Read Order]")
![If disallowance relating to Speed Money restricted to only 25% of expenditure, same is to be complied with even for Future Cases: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/ITAT-Taxscan.jpg "If disallowance relating to Speed Money restricted to only 25% of expenditure, same is to be complied with even for Future Cases: ITAT [Read Order]")
Penalty is not leviable on Ground of Mere Disallowance of Expenditure Claimed: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai ITAT quashed the penalty proceedings initiated against the assessee under section 271(1)(c) of the Income Tax Act and held that penalty cannot be levied merely on ground...
![Penalty is not leviable on Ground of Mere Disallowance of Expenditure Claimed: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty is not leviable on Ground of Mere Disallowance of Expenditure Claimed: ITAT Mumbai [Read Order]")
Disallowance of Expenditure claimed is Illegal & Arbitrary when the Genuineness of Transaction is Proved: ITAT Delhi [Read Order]
In a recent ruling, the ITAT Delhi bench observed that disallowance of an expenditure without recording any reason is illegal when the veracity of the same is proved before the authority with all the...
![Disallowance of Expenditure claimed is Illegal & Arbitrary when the Genuineness of Transaction is Proved: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Disallowance of Expenditure claimed is Illegal & Arbitrary when the Genuineness of Transaction is Proved: ITAT Delhi [Read Order]")
Sponsoring Overseas Tour to doctors by Pharmaceutical Company is unethical & illegal, ITAT Mumbai disallows expenditure [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal recently confirmed disallowance of expenditure incurred by the Pharmaceutical company on account sponsoring overseas tour to doctors. Earlier,...
![Sponsoring Overseas Tour to doctors by Pharmaceutical Company is unethical & illegal, ITAT Mumbai disallows expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Expenditures-TAXSCAN.jpg "Sponsoring Overseas Tour to doctors by Pharmaceutical Company is unethical & illegal, ITAT Mumbai disallows expenditure [Read Order]")
Disallowance of Expenditure claimed by the Assessee does not amount to ‘Concealment of Income’, Hence, Penalty is not leviable; ITAT Delhi [Read Order]
The Income Tax Appellate Tribunal, Delhi division has recently ruled that mere disallowance of expenditure claimed by the assessee will not contribute to ‘concealment of income’ and therefore, penalty...