Partners Entitled to Interest on Their Loan Accounts with Firm at Rates as Prescribed under Income Tax Act: ITAT upholds Deletion of Addition made u/s 68
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, while upholding the deletion of addition made...
![Lack of Enabling Provision in IT Act: ITAT quashes Disallowance of Claim u/s 143(1)(a) for Belated Filing of ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/IT-Act-ITAT-Disallowance-of-Claim-Filing-of-ITR-ITR-taxscan.jpg "Lack of Enabling Provision in IT Act: ITAT quashes Disallowance of Claim u/s 143(1)(a) for Belated Filing of ITR [Read Order]")
![No Disallowance u/s. 40(a)(ia) on Compliance with Section 194C(6): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/non-maintenance-of-book-of-accounts-ITAT-penalty-book-of-accounts-TAXSCAN.jpg "No Disallowance u/s. 40(a)(ia) on Compliance with Section 194C(6): ITAT [Read Order]")
![Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Interest-Expenditure-Disallowance-ITAT-Relief-of-Adani-Wilmer-Ltd-Adani-Wilmer-Ltd-Income-Tax-Act-Income-Tax-taxscan.jpg "Interest Expenditure cannot be considered for making Disallowance u/s 14A of the Act: ITAT confirms Relief of Adani Wilmar Ltd [Read Order]")
![ITAT upholds Disallowance only with respect to Godown Leased to Banas Dairy for “Non-Agricultural” Purposes [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Disallowance-Godown-Banas-Dairy-Non-Agricultural-Purposes-Taxscan.jpg "ITAT upholds Disallowance only with respect to Godown Leased to Banas Dairy for “Non-Agricultural” Purposes [Read Order]")
Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that income tax penalty under Section 270A of the Income Tax Act, 1961 cannot be levied, when...
![Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Disallowance-Income-Tax-Penalty-Estimate-Basis-ITAT-Income-Tax-Taxscan.jpg "Income Tax Penalty u/s 270A cannot be Levied when Disallowance made on Estimate Basis: ITAT [Read Order]")
Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT), while deleting orders against Marks and Spencer India recently found that the income tax department derived Arm Length Price (ALP) without...
![Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Tax-Dept-ALP-IT-Rules-ITAT-Marks-Spencer-India-Taxscan.jpg "Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]")
![ITAT Upholds Disallowance of CSR Expenses u/s 37 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Disallowance-of-CSR-Expenses-TAXSCAN.jpg "ITAT Upholds Disallowance of CSR Expenses u/s 37 [Read Order]")
ITC Reversal and Disallowance: Madras HC directs GST Dept to Reassess in light of SC Decision [Read Order]
In the matter of Input Tax Credit (ITC) Reversal and Disallowance, the Madras High Court directed the GST Department to reassess in the light of Supreme Court (SC) Decision. The petitioner in the...
![ITC Reversal and Disallowance: Madras HC directs GST Dept to Reassess in light of SC Decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/ITC-Reversal-and-Disallowance-ITC-ITC-Reversal-Disallowance-Input-Tax-Credit-GST-Department-Supreme-Court-Supreme-Court-Decision-Madras-High-Court-Taxscan.jpg "ITC Reversal and Disallowance: Madras HC directs GST Dept to Reassess in light of SC Decision [Read Order]")
Revisional Power cannot be Invoked When AO Adopted A Plausible View that resulted in Loss of Revenue But the Same is Not Unsustainable in Law: ITAT
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the revisional power could not be invoked when the assessing officer had adopted a plausible view resulting in loss of revenue...
Disallowance cannot be Made on Ad-Hoc Basis Without Any Specific Allegation Merely on the basis of General Remarks and Observations: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that disallowance cannot be made on dd-hoc basis without any specific allegation, merely on the...
![Disallowance cannot be Made on Ad-Hoc Basis Without Any Specific Allegation Merely on the basis of General Remarks and Observations: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Disallowance-ITAT-taxscan.jpg "Disallowance cannot be Made on Ad-Hoc Basis Without Any Specific Allegation Merely on the basis of General Remarks and Observations: ITAT [Read Order]")
Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]
The Allahabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest paid to legal heirs of deceased partners could not be disallowed if the TDS had already been deducted. The...
![Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Interest-Interest-paid-Legal-Heirs-Deceased-Partners-TDS-ITAT-Taxscan.jpg "Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]")