![Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as Deduction u/s 48 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Indexed-Improvement-Wholly-Exclusively-Transfer-Asset-Deduction-Income-Tax-Act-ITAT.jpg "Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as Deduction u/s 48 of Income Tax Act: ITAT [Read Order]")
Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as Deduction u/s 48 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the indexed cost of improvement incurred wholly and exclusively for...
![Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Provision-of-Gratuity-deduction-of-Actual-Gratuity-charged-to-Profit-in-P-L-Account-disallowance-ITAT-directs-AO-for-fresh-Consideration-TAXSCAN.jpg "Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]")
![Disallowance u/s 14A of Income Tax Act shall not be made, if Assessee not earned any exempt Income during Financial-year: ITAT quashes Revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-income-tax-act-revision-order-ITAT-taxscan.jpg "Disallowance u/s 14A of Income Tax Act shall not be made, if Assessee not earned any exempt Income during Financial-year: ITAT quashes Revision order [Read Order]")
![No Disallowance u/s 14A of Income Tax Act shall be made in Absence of any Exempt Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-Income-Tax-Act-Absence-Exempt-Income-ITAT-TAXSCA.jpeg "No Disallowance u/s 14A of Income Tax Act shall be made in Absence of any Exempt Income: ITAT [Read Order]")
ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that although prima facie, the issue goes in favour of the assessee in view of the various judgements rendered by the Supreme...
![ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-VAT-Remission-Disallowance-assessee-allowabiility-Subsidies-TAXSCAN.jpg "ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]")
Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee has not provided any details as to the source of such cash deposited for the relevant financial year except for...
![Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-Income-Income-from-Business-Income-from-Business-Deposits-Income-Tax-Act-taxscan.jpg "Disallowance of Income from Business Deposits u/s 69 of Income Tax Act due to Default of Assessee to Submit Details of Source of Cash Deposits: ITAT Restores Matter to AO [Read Order]")
AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition based on adhoc disallowance out of staff welfare expenses holding that the AO should not resort to adhoc disallowance....
![AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Resort-Adhoc-Disallowance-ITAT-Adhoc-Staff-Welfare-Expenses-TAXSCAN.jpg "AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]")
![Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Delhi-HC-upholds-Disallowance-of-Business-Loss-in-absence-of-Necessary-Documents-TAXSCAN.jpg "Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]")
Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT), held that the expenditure in relation to increase in authorized share capital is of capital expenditure or revenue expenditure is out of the...
![Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-of-Expenditure-Mistake-Apparent-on-Record-Outside-Purview-Income-Tax-Act-ITAT-TAXSCAN.jpg "Disallowance of Expenditure is not Mistake Apparent on Record, Outside Purview of Section 154 of Income Tax Act: ITAT [Read Order]")
Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal (ITAT) has reduced the disallowance as the quantum of disallowance made by the Assessing Officer (AO) was excessive and unreasonably high. In...
![Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Quantum-Quantum-of-Disallowance-Disallowance-AO-taxscan.jpg "Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]")
No disallowance on Account of Bonus outstanding paid before due date of filing of Return: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that there was no disallowance on account of the bonus outstanding paid before the due date of filing of return. As per the audit...
![No disallowance on Account of Bonus outstanding paid before due date of filing of Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/disallowance-account-bonus-outstanding-due-date-filing-return-ITAT-TAXSCAN.jpg "No disallowance on Account of Bonus outstanding paid before due date of filing of Return: ITAT [Read Order]")