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Amendment on Sec.36(1)(va) has a Prospective Effect: ITAT quashes Order of Disallowance [Read Order]

The Raipur bench of the Income Tax Appellate Tribunal ( ITAT ) has held that amendment on Section 36(1)(va) of the Income Tax Act has a prospective...

Purchase from Grey Market cannot fully Disallowed: ITAT restricts Disallowance to 12.5% [Read Order]

Addition u/s 153C should be based on Incriminating Materials found during Search: ITAT [Read Order]

Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of...

Deduction of Employees Contribution to ESI and PF: Amendment in Finance Act, 2021 does not...

ITAT directs AO to restrict Disallowance at 2% of Bogus Purchases [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to restrict disallowance at 2% of the bogus purchases. The assessee, R R Carwell Pvt. Ltd. is...

ITAT deletes Disallowance on account of Legal Fees and Settlement Amount [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance on account of legal fees and settlement amount. The assessee, M/s Omni Active Health Technologies Ltd. is a...

ITAT deletes Disallowance made on account of Expenses not allowable under the head ‘Income from House Property’ [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance made on account of expenses not allowable under the head “Income from House property”. The assessee Company...

Assessing Officer not justified in making Disallowance of Interest Expenditure as it was not subject matter of Limited Scrutiny: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the AO is not justified in making disallowance of interest expenditure as it was not subject matter of limited scrutiny. The AO in...

Relief to Nokia India: ITAT deletes Disallowance worth Rs. 41.6 Cr [Read Order]

In a major relief to Nokia India, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance worth Rs. 41.6 Crores. The assessee has contended that the AO and DRP have erred...

Section 14A Disallowance can't exceed Exempt Income earned during the AY: ITAT [Read Order]

The Banglore Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 14A Disallowance cannot exceed exempt income earned during the Assessment Year. The assessee, M/s.GMR Enterprises Pvt....

Relief to Ceebros Hotels: Madras HC deletes Disallowance as Substantial Activities done to Show Property purchased is Put to Use [Read Order]

In a major relief to Ceebros Hotels, the Madras High Court deleted disallowance as substantial activities done to show property purchased is put to use. The assessee, Ceebros Hotels was running a...

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