![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]")
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...
![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]](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]")
![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]")
Inability to Generate Income from Software Not a Ground to Deny Depreciation Claim: ITAT rules in favour of Rapipay [Read Order]
Infavour of RapipayFinvest, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the inability to generate income from software is not a ground to deny a depreciation claim. The...
![Inability to Generate Income from Software Not a Ground to Deny Depreciation Claim: ITAT rules in favour of Rapipay [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Software-Depreciation-Claim-ITAT-Rapipay-TAXSCAN.jpg "Inability to Generate Income from Software Not a Ground to Deny Depreciation Claim: ITAT rules in favour of Rapipay [Read Order]")
S. 115JB does not provide Mechanism to Make Disallowance Independently : ITAT directs to Disallow 1% of Exempted Income of Adani Properties
Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) ruled that the section 115JB of Income Tax Act, 1961 does not provide a mechanism to make disallowance independently. The ITAT directed the...
Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal has deleted the disallowance holding that the hedging transactions in non-cleared securities were not illegal. The assessee, Atul C. Vyas had...
![Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Hedging-Transactions-Non-Cleared-Securities-ITAT-Disallowance-TAXSCAN.jpg "Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]")
ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]
The Ahmedabad Income Tax Appellate Tribunal (ITAT) deleted disallowance under section 40A(3) of the Income Tax Appellate Tribunal when assessee made payment in cash not directly to the seller. ...
![ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-ITAT-deletes-Disallowance-assessee-payment-payment-in-cash-seller-Income-Tax-taxscan-.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]")
Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Chennai Bench ruled that the disallowance imposed under Section 40(a)(i) of the Income Tax Act, 1961, prohibiting Tax Deduction Source (TDS) on payments to...
![Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Disallowance-us.-40ai-Retrospective-Amendment-to-S.-195-Imposing-TDS-Payment-Non-Residents-ITAT-Taxscan.jpg "Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]")
Relief to Astra Zeneca: ITAT restores matter on Disallowance of Contribution towards Gratuity Funds [Read Order]
The Bengaluru Bench of the Income Tax Appellate Tribunal (ITAT), restored matter on disallowance of contribution towards gratuity funds, thereby granting relief to M/s. Astra Zeneca Pharma India Ltd,...
![Relief to Astra Zeneca: ITAT restores matter on Disallowance of Contribution towards Gratuity Funds [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Astra-Zeneca-Relief-to-Astra-Zeneca-ITAT-Relief-to-Astra-Zeneca-Disallowance-Disallowance-of-Contribution-Gratuity-Funds-Funds-Income-Tax-Income-Tax-Act-taxscan-.jpg "Relief to Astra Zeneca: ITAT restores matter on Disallowance of Contribution towards Gratuity Funds [Read Order]")