![Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Unverified-Excessive-Operating-Expenses-Operating-Expenses-Income-Tax-Act-ITAT-Disallowance-ITAT-Reduces-Disallowance-Income-Tax-taxscan.jpg "Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]")
Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, reduced the disallowance from 10% to 2%, on...
![Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Income-has-to-be-Computed-Disallowance-Resultant-Income-Taxable-Income-ITAT-Income-Tax-taxscan.jpg "Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]")
![DSIR Registration is Sufficient to Claim Deduction u/s 35 (2AB) for Cases Prior to Clause (b) Rule 6(7A) Amendment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/DSIR-Registration-is-Sufficient-to-Claim-Deduction-Cases-Prior-to-Clause-b-Rule-67A-Amendment-ITAT-TAXSCAN.jpg "DSIR Registration is Sufficient to Claim Deduction u/s 35 (2AB) for Cases Prior to Clause (b) Rule 6(7A) Amendment: ITAT [Read Order]")
![Failure of Assessee to Substantiate Enhanced Cost of Acquisition with Cogent Evidence: ITAT upholds Disallowance of Excess Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Failure-of-Assessee-Cost-of-Acquisition-Cost-of-Acquisition-with-Cogent-Evidence-ITAT-ITAT-upholds-Disallowance-of-Excess-Cost-Excess-Cost-taxscan.jpg "Failure of Assessee to Substantiate Enhanced Cost of Acquisition with Cogent Evidence: ITAT upholds Disallowance of Excess Cost [Read Order]")
![Disallowance u/s 14A of the Income Tax Act cannot Exceed Exempt Income: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-Income-Tax-Act-Exceed-Exempt-Income-Exempt-Income-ITAT-Taxscan.jpg "Disallowance u/s 14A of the Income Tax Act cannot Exceed Exempt Income: ITATÂ [Read Order]")
Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Ahmedabad bench has held that adjustment against bad and doubtful debts amounts to actual writing off of bad debts. Integra Engineering India Ltd., the...
![Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Adjustment-Adjustment-Against-Bad-and-Doubtful-Debts-Doubtful-Debts-Bad-Debts-ITAT-Income-Tax-taxscan.jpg "Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]")
No Disallowance u/s 36(1)(iii) as Amount was Advanced during Normal Course of Business: ITAT [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) has held that no disallowance could be made under Section 36(1)(iii) of the Income Tax Act, 1961, as the amount was advanced during the normal...
![No Disallowance u/s 36(1)(iii) as Amount was Advanced during Normal Course of Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-Advanced-during-Normal-Course-of-Business-Normal-Course-of-Business-Business-ITAT-Taxscan.jpg "No Disallowance u/s 36(1)(iii) as Amount was Advanced during Normal Course of Business: ITAT [Read Order]")
![Belated Remittances Towards Employees Contribution to EPF & ESI: ITAT sustains Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Belated-Remittances-Towards-Employees-Contribution-to-EPF-ESI-Employees-Contribution-to-EPF-ESI-Employees-Contribution-EPF-ESI-ITAT-sustains-Disallowance-ITAT-Disallowance-Taxscan.jpg "Belated Remittances Towards Employees Contribution to EPF & ESI: ITAT sustains Disallowance [Read Order]")
Mere non-compliance to Furnish Transportation details is not non-compliance of Section 194C(6) for Disallowance under Section 40(a)(ia): ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that mere non-compliance to furnish transportation details could not be said to be the non-compliance of Section 194C(6) of the Income...
![Mere non-compliance to Furnish Transportation details is not non-compliance of Section 194C(6) for Disallowance under Section 40(a)(ia): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Mere-non-compliance-to-furnish-transportation-Section-194C6-Disallowance-Section-40aia-ITAT-TAXSCAN.jpg "Mere non-compliance to Furnish Transportation details is not non-compliance of Section 194C(6) for Disallowance under Section 40(a)(ia): ITAT [Read Order]")
Relief to Canara Bank-Bad Debt written off be First Adjusted Against Credit Balance and only Excess be Claimed as Deduction: ITAT deletes Disallowance u/s 36(1)(vii)
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to Canara Bank by deleting the disallowance under Section 36(1)(vii) of the Income Tax Act, 1961 holding that bad...
No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]
The Jodhpur Bench of Income Tax Appellate Tribunal (ITAT) no disallowance shall be made on the part of director’s remuneration when the business is stopped due to temporary lull. The...
![No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Disallowance-of-Part-of-Directors-Remuneration-and-Depreciation-Business-Stopped-Due-to-Temporary-Lull-ITAT-TAXSCAN.jpg "No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]")