![AO cannot Arbitrarily Disallow Expenses for Want of Supporting Documentation, without Pointing out a Defect in Vouchers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Disallow-Expenses-AO-Supporting-Documentation-AO-cannot-Arbitrarily-Disallow-Expenses-Defect-in-Vouchers-ITAT-Taxscan.jpg "AO cannot Arbitrarily Disallow Expenses for Want of Supporting Documentation, without Pointing out a Defect in Vouchers: ITAT [Read Order]")
AO cannot Arbitrarily Disallow Expenses for Want of Supporting Documentation, without Pointing out a Defect in Vouchers: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that AO cannot arbitrarily disallow expenses...
![Company couldn’t Prove that Cash Loan was taken for Urgent Disbursal of Salary: ITAT Upholds Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Company-Cash-Loan-Urgent-Salary-ITAT-Penalty-TAXSCAN.jpg "Company couldn’t Prove that Cash Loan was taken for Urgent Disbursal of Salary: ITAT Upholds Penalty u/s 271D [Read Order]")
![ITAT Allows 50% as Capital Gain Exemption u/s 54 to Joint Owner of Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/ITAT-Capital-Gain-Exemption-Joint-Owner-of-Property-Owner-of-Property-Property-Taxscan.jpg "ITAT Allows 50% as Capital Gain Exemption u/s 54 to Joint Owner of Property: ITAT [Read Order]")
![House Loan paid by Company Allotted to Directors for Residential Purpose Eligible for Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/House-Loan-Loan-Income-Tax-Deduction-Income-Tax-Deduction-Tax-ITAT-Taxscan.jpg "House Loan paid by Company Allotted to Directors for Residential Purpose Eligible for Income Tax Deduction: ITAT [Read Order]")
One Day Delay in Debiting Amount from Bank due to Mistake of Banker: ITAT Waives Off Interest [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ), while waiving off the interest levied by the income tax department for short-levy of TDS, has held that interest cannot be levied for...
![One Day Delay in Debiting Amount from Bank due to Mistake of Banker: ITAT Waives Off Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Debiting-Amount-Bank-Mistake-of-Banker-Banker-ITAT-Interest-taxscan.jpg "One Day Delay in Debiting Amount from Bank due to Mistake of Banker: ITAT Waives Off Interest [Read Order]")
Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that Exemption u/s 11 of the Income Tax Act,1961 is allowable on income derived from property held under trust wholly for a...
![Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Exemption-Income-Property-Trust-Charitable-Purpose-ITAT-TAXSCAN.jpg "Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]")
Capital Gain fully utilised for Acquisition of new Residential House Eligible for Income Tax Exemption u/s 54 of Income Tax Act: ITAT [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT) chaired by Yogesh Kumar US (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member) held that the equivalent amount of capital gain utilised for...
![Capital Gain fully utilised for Acquisition of new Residential House Eligible for Income Tax Exemption u/s 54 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gain-House-Eligible-for-Income-Tax-Exemption-Income-Tax-Act-ITAT-TAXSCAN.jpg "Capital Gain fully utilised for Acquisition of new Residential House Eligible for Income Tax Exemption u/s 54 of Income Tax Act: ITAT [Read Order]")
![Annual Technology Licence Fee is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Annual-Technology-Licence-Fee-Revenue-ITAT-taxscan.jpg "Annual Technology Licence Fee is Revenue in Nature: ITAT [Read Order]")
CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]
The ITAT, Delhi bench has held that CENVAT credit receivables which could not be set off are allowable as deduction under the Income Tax Act, 1961. The assessee is in the business of manufacturing...
![CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Deduction-CENVAT-Credit-Deduction-ITAT-Taxscan.jpeg "CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]")
![Disallowances purely without any tangible material shall be Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Disallowances-tangible-material-ITAT-taxscan.jpeg "Disallowances purely without any tangible material shall be Invalid: ITAT [Read Order]")
Booking Rights or Rights to Purchase Apartment or Rights to obtain Title to Apartment is 'Transfer' to impose Capital Gain: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the Booking Rights or Rights to Purchase Apartment or Rights to obtain title to the Apartment are “Transfer” to impose Capital Gain. ...
![Booking Rights or Rights to Purchase Apartment or Rights to obtain Title to Apartment is Transfer to impose Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Booking-Rights-Rights-to-Purchase-Apartment-Apartment-Capital-Gain-ITAT-Taxscan.jpeg "Booking Rights or Rights to Purchase Apartment or Rights to obtain Title to Apartment is Transfer to impose Capital Gain: ITAT [Read Order]")