![AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/AO-ITAT-claim-inx-news-business-loss-business-activity-ITAT-allows-Business-Loss-Claim-taxscan.jpg "AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]")
AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT) allowed the claim of Business loss in which the assessing officer (AO) failed to...
![No Addition can be made by Way of Disallowance of Capital Loss on Account of no Change in Real Ownership of Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Addition-No-Addition-can-be-made-Disallowance-of-Capital-Loss-on-Account-Account-Disallowance-Capital-Loss-Way-of-Disallowance-Real-Ownership-of-Company-Ownership-of-Company-taxscan.jpg "No Addition can be made by Way of Disallowance of Capital Loss on Account of no Change in Real Ownership of Company: ITAT [Read Order]")
![ITAT quashes Disallowance of Car Expenses Incurred for Personal Use of Directors of Private Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-quashes-Disallowance-of-Car-Expenses-ITAT-quashes-Disallowance-Car-Expenses-ITAT-Disallowance-Car-Expenses-Incurred-for-Personal-Use-Personal-Use-Private-Company-Taxscan.jpg "ITAT quashes Disallowance of Car Expenses Incurred for Personal Use of Directors of Private Company [Read Order]")
![Use of Vehicles by Directors / Employees as per Terms and Conditions of Employment is not Personal use: ITAT sets aside Disallowance of Vehicle Expenses Incurred [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Use-of-Vehicles-by-Directors-Terms-and-Conditions-of-Employment-Terms-and-Conditions-Employment-Personal-use-Employment-is-not-Personal-use-ITAT-Disallowance-of-Vehicle-Expenses-Disallowance-taxscan-1.jpg "Use of Vehicles by Directors / Employees as per Terms and Conditions of Employment is not Personal use: ITAT sets aside Disallowance of Vehicle Expenses Incurred [Read Order]")
![Disallowance u/s 14A r.w.r 8D, cannot Exceed Quantum of Exempt Income Earned During Particular Assessment Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Disallowance-Exempt-Income-Exempt-Income-Earned-During-Particular-Assessment-Year-ITAT-taxscan.jpg "Disallowance u/s 14A r.w.r 8D, cannot Exceed Quantum of Exempt Income Earned During Particular Assessment Year: ITAT [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 finding that operating expenses is unverified and...
![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/2023/06/Unverified-and-Excessive-Operating-Expenses-not-Allowable-us-37-of-Income-Tax-Act-ITAT-Reduces-Disallowance-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 finding that operating expenses is unverified and...
![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]")
Income has to be Computed after making Disallowance and 40% Resultant Income to be Treated as Taxable Income: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the income has to be computed after making disallowance and 40% resultant income to be treated as taxable income. The...
![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]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that DSIR registration is sufficient to claim deduction under Section 35 (2AB) of the Income Tax...
![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]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, on the assessee’s failure to substantiate enhanced cost of acquisition with cogent evidence, upheld...
![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]")