![Karnataka HC Upholds Deletion of Disallowance of Short Term Capital Loss Citing Monetary Limit Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Karnataka-High-Court-Disallowance-Short-Term-Capital-Loss-Karnataka-HC-Capital-Loss-Taxscan.jpg "Karnataka HC Upholds Deletion of Disallowance of Short Term Capital Loss Citing Monetary Limit Circular [Read Order]")
Karnataka HC Upholds Deletion of Disallowance of Short Term Capital Loss Citing Monetary Limit Circular [Read Order]
The court upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to delete the disallowance of short-term capital loss claimed by M/s...
![No Disallowance of CENVAT Credit for Claim as “Capital Goods” instead of “Input”: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/CESTAT-CESTAT-Ahmedabad-CENVAT-Credit-Disallowance-Taxscan.jpg "No Disallowance of CENVAT Credit for Claim as “Capital Goods” instead of “Input”: CESTAT [Read Order]")
![Disallowance u/s 14 A of Income Tax Act cannot Exceed Exempt Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Disallowance-section-14-A-Income-Tax-Act-Exempt-Income-ITAT-taxscan.jpg "Disallowance u/s 14 A of Income Tax Act cannot Exceed Exempt Income: ITAT [Read Order]")
![ITAT confirms 50% Disallowance of Motor Car and Bike Expenses due to Failure to Provide Details [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Disallowance-Motor-Car-expenses-Motor-Car-and-Bike-Expenses-Bike-Expenses-Disallowance-of-Motor-Car-and-Bike-Expenses-itat-news-on-Disallowance-of-Motor-Car-and-Bike-Expenses-tax-news-taxscan.jpg "ITAT confirms 50% Disallowance of Motor Car and Bike Expenses due to Failure to Provide Details [Read Order]")
![TDS Applicability on Accounting Provisions made towards Unfinished Work: ITAT restores Case back to CIT (A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Payment-TDS-Interest-Revenue-Penalty-ITAT-Payment-of-TDS-taxscan.jpg "TDS Applicability on Accounting Provisions made towards Unfinished Work: ITAT restores Case back to CIT (A) [Read Order]")
![Adhoc Disallowance made without Rejecting Books of Account is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Adhoc-Disallowance-Rejecting-Books-of-Account-ITAT-TAXSCAN.jpg "Adhoc Disallowance made without Rejecting Books of Account is Invalid: ITAT [Read Order]")
Disallowance u/s 57(ii) of Income Tax Act allowable on Expenses Incurred wholly for earning Income from Other Sources: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has held that disallowance under section 57(ii) of the Income Tax Act, 1961 is allowable on expenses incurred wholly for earning Income...
![Disallowance u/s 57(ii) of Income Tax Act allowable on Expenses Incurred wholly for earning Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Disallowance-Income-Tax-Act-Expenses-Income-Other-Sources-ITAT-taxscan.jpg "Disallowance u/s 57(ii) of Income Tax Act allowable on Expenses Incurred wholly for earning Income from Other Sources: ITAT [Read Order]")
Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.74 crore after finding that labor expenses capitalized in land value did not warrant deduction claimed in...
![Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Labor-Expenses-Capitalised-Land-value-No-Deduction-claimed-in-P-L-Account-ITAT-taxscan.jpg "Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]")
AO made No Reference to any Incriminating Material while Making Addition on TDR Transactions: ITAT dismisses Revenue's Appeal [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue's appeal as the Assessing Officer ( AO ) made no reference to any incriminating material while adding on TDR...
![AO made No Reference to any Incriminating Material while Making Addition on TDR Transactions: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-TDR-Transactions-Revenue-appeal-dismissal-ITAT-AO-assessment-TDR-Income-Tax-Taxscan.jpg "AO made No Reference to any Incriminating Material while Making Addition on TDR Transactions: ITAT dismisses Revenues Appeal [Read Order]")
CIT (A) Fails to Prove Records of Unsecured Loan Non -genuine: ITAT Deletes Disallowance of Rs. 116 crore [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted the disallowance of Rs. 116 crore as Commissioner of Income Tax (Appeals) failed to prove the non-genuineness of records...
![CIT (A) Fails to Prove Records of Unsecured Loan Non -genuine: ITAT Deletes Disallowance of Rs. 116 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/CIT-A-Records-Unsecured-Loan-Non-genuine-ITAT-Disallowance-TAXSCAN.jpg "CIT (A) Fails to Prove Records of Unsecured Loan Non -genuine: ITAT Deletes Disallowance of Rs. 116 crore [Read Order]")
Disallowance of Depreciation Claim on Goodwill: Suzlon Energy Ltd gets slapped with ₹260.35 Cr Income Tax Penalty
Suzlon Energy Ltd, a company dedicated to providing renewable energy solutions, faced a setback recently when it was hit with a hefty penalty of ₹260.35 crore by the National Faceless Assessment...
