Hero MotoCorp Faces ₹605 Crore Demand Notice from Income Tax Department
On Thursday, Hero MotoCorp, revealed that it had received a tax demand notice from the Income Tax Department. The notice amounted to a total of ₹605...
![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]")
![No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/disallowance-payments-PF-and-ESI-Income-Tax-Return-us-1391-of-Act-ITAT-TAXSCAN.jpg "No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]")
Relief to Piramal Enterprises: ITAT directs AO to Re-adjudicate Disallowance of Payment Received as Consultancy Fees and Corporate Service Charges [Read Order]
In a recent decision, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has provided relief to Piramal Enterprises by instructing the Assessing Officer ( AO ) to reassess the...
![Relief to Piramal Enterprises: ITAT directs AO to Re-adjudicate Disallowance of Payment Received as Consultancy Fees and Corporate Service Charges [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Relief-to-Piramal-Enterprises-Piramal-Enterprises-ITAT-AO-Re-adjudicate-taxscan.jpg "Relief to Piramal Enterprises: ITAT directs AO to Re-adjudicate Disallowance of Payment Received as Consultancy Fees and Corporate Service Charges [Read Order]")
No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) while directing readjudication observed that no interest expenditure should be disallowed which has not been claimed during the deposit of...
![No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Disallowance-Interest-Expenditure-Deposit-Tax-in-Return-ITAT-re-adjudication-No-Disallowance-of-Interest-Expenditure-taxscan.jpg "No Disallowance of Interest Expenditure not claimed during Deposit of Tax in Return: ITAT directs re-adjudication [Read Order]")
Disallowance u/s 40(a)(I) of the Income Tax Act is not Applicable as per DTAA between India and Japan: Delhi HC rules in Favour of Mitsubishi Corp India [Read Order]
In a ruling in favour of Mitsubishi Corporation India P Ltd, the Delhi High Court held that disallowance under section 40(a)(i) of the Income Tax Act, 1961 is not applicable in view of the provision...
![Disallowance u/s 40(a)(I) of the Income Tax Act is not Applicable as per DTAA between India and Japan: Delhi HC rules in Favour of Mitsubishi Corp India [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Disallowance-Income-Tax-Act-DTAA-Delhi-HC-Mitsubishi-Corp-India-taxscan.jpg "Disallowance u/s 40(a)(I) of the Income Tax Act is not Applicable as per DTAA between India and Japan: Delhi HC rules in Favour of Mitsubishi Corp India [Read Order]")
Assessee Entitled to claim TDS Deduction in year on which Corresponding Income offered to Tax on non claiming of Double Deduction: ITAT [Read Order]
In a major ruling the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that assessee entitled to claim Tax Deducted at Source (TDS) deduction in year on which corresponding...
![Assessee Entitled to claim TDS Deduction in year on which Corresponding Income offered to Tax on non claiming of Double Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Assessee-TDS-Deduction-Corresponding-Income-Tax-non-claiming-Double-Deduction-ITAT-taxscan.png "Assessee Entitled to claim TDS Deduction in year on which Corresponding Income offered to Tax on non claiming of Double Deduction: ITAT [Read Order]")
No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]
In a significant ruling the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that no justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in...
![No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/No-justification-disallowance-Ad-Hoc-without-pointing-deficiency-books-nature-of-business-ITAT-taxscan.jpg "No justification for disallowance on Ad Hoc basis, without pointing out any deficiency in books in nature of business: ITAT [Read Order]")
Non-production of complete Bills and Vouchers: ITAT directs AO to limit Disallowance Percentages for Aggregate Expenditure, Conveyance Charges, office Maintenance, Sunday and Business Promotion Expenses
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has instructed the Assessing Officer (AO) to restrict the disallowance percentages for aggregate expenditure, conveyance charges, office...
![Unbilled Revenue cannot considered as Income once written off: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Unbilled-Revenue-Income-once-written-off-ITAT-taxscan.jpg "Unbilled Revenue cannot considered as Income once written off: ITAT deletes Addition [Read Order]")