![No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/No-justification-disallowance-Ad-Hoc-without-pointing-deficiency-books-nature-of-business-ITAT-taxscan.jpg "No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]")
No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]
In a significant ruling the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that no justification for disallowance on Ad Hoc...
![Unbilled Revenue cannot considered as Income once written off: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Unbilled-Revenue-Income-once-written-off-ITAT-taxscan.jpg "Unbilled Revenue cannot considered as Income once written off: ITAT deletes Addition [Read Order]")
![Foreign Exchange Loss cannot be Included in Cost of Project: ITAT directs to allow a Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Foreign-Exchange-Loss-Cost-of-Project-ITAT-Deduction-TAXSCAN.jpg "Foreign Exchange Loss cannot be Included in Cost of Project: ITAT directs to allow a Deduction [Read Order]")
![Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Investment-Gold-Investment-in-Gold-Foreign-Companies-ITAT-CITA-taxscan.jpg "Investment in Gold and Foreign Companies Should be Excluded: ITAT upholds Order of CIT(A) [Read Order]")
Payment of Management Fees to ATS can be added to Income of Assessee: Delhi HC upholds Deletion of Disallowance [Read Order]
The Delhi High Court upheld the deletion of disallowance and noted that the payment of management fees to ATS Infrastructure can be added to the income of the assessee, Anand Divine Developers...
![Payment of Management Fees to ATS can be added to Income of Assessee: Delhi HC upholds Deletion of Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Payment-Management-Fees-ATS-Income-of-Assessee-Delhi-HC-Deletion-of-Disallowance-TAXSCAN.jpg "Payment of Management Fees to ATS can be added to Income of Assessee: Delhi HC upholds Deletion of Disallowance [Read Order]")
Expansion of Telecommunication Service with Internet Service does Not change Infrastructure: Delhi HC upholds Deletion of Disallowance of Deduction u/s 80IA of Income Tax Act [Read Order]
The Delhi High Court has held that the expansion of Telecommunication service with internet service does not change infrastructure and upheld the deletion of disallowance of deduction under section...
![Expansion of Telecommunication Service with Internet Service does Not change Infrastructure: Delhi HC upholds Deletion of Disallowance of Deduction u/s 80IA of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Expansion-of-Telecommunication-Service-Telecommunication-Service-Internet-Service-taxscan.jpg "Expansion of Telecommunication Service with Internet Service does Not change Infrastructure: Delhi HC upholds Deletion of Disallowance of Deduction u/s 80IA of Income Tax Act [Read Order]")
ITAT directs to produce CA certificate in prescribed Form 26Â to re-adjudicate disallowance made u/s.40(a)(ia) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur bench, directed the assessee, Sandeep Surendran Nair, a mechanical contractor in the cement industry, to produce a Chartered Accountant certificate in...
![ITAT directs to produce CA certificate in prescribed Form 26Â to re-adjudicate disallowance made u/s.40(a)(ia) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-directs-to-produce-CA-certificate-in-prescribed-Form-26-re-adjudicate-disallowance-Income-Tax-Act-TAXSCAN.jpg "ITAT directs to produce CA certificate in prescribed Form 26Â to re-adjudicate disallowance made u/s.40(a)(ia) of Income Tax Act [Read Order]")
Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that, income tax authorities cannot determine how much expenditure should have been incurred for the purpose of business. The appellant,...
![Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-INCOME-TAX-expenditure-Authoritie-TAXSCAN.jpg "Income Tax Authorities cannot determine how much expenditure should have been incurred for the purpose of business: ITAT [Read Order]")
[BREAKING] Supreme Court refuses to decide Revenue/Capital Nature of Carbon Credit Receipts as not raised by Department in Jindal Steel & Power Case [Read Order]
The Apex Court has refused to give a verdict on the issue whether Carbon Credit is a revenue or capital receipt as not pressed by the department in a batch of Income tax appeals against Jindal Steel...
[BREAKING] Relief to Jindal Steel & Power: Supreme Court upholds deletion of Addition made on Payment to SK Gupta and Group of Companies [Read Order]
In a major relief to Jindal Steel and Power Ltd, the Supreme Court has upheld the deletion of addition made on payments made to S K Gupta and group of companies. This brings us to the second of...
No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that no disallowance should be made under Section 14A of the Income Tax Act, 1961, when assessees have their own funds exceeding...
![No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/macro-tech-Developers-Income-Tax-Act-Investments-earning-Exempt-Income-taxscan.jpg "No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]")