![Proof of Source of Money and Identity of Creditors by Assessee: ITAT upholds deletion of Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Source-of-Money-Creditors-ITAT-Income-Tax-Addition-taxscan.jpg "Proof of Source of Money and Identity of Creditors by Assessee: ITAT upholds deletion of Income Tax Addition [Read Order]")
Proof of Source of Money and Identity of Creditors by Assessee: ITAT upholds deletion of Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai upheld the deletion of addition on proof of source of money and identity of creditors by assessee. ...
![ITAT deletes Income Tax Addition made solely on Third-party Information [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Income-Tax-Addition-taxscan.jpg "ITAT deletes Income Tax Addition made solely on Third-party Information [Read Order]")
![ITAT allows Expenses Incurred for R&D: Biotechnology R&D Expenses to be Deducted as Revenue Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Research-and-Development-Expenses-Biotechnology-RD-Expenses-Revenue-Expenditure-taxscan.jpg "ITAT allows Expenses Incurred for R&D: Biotechnology R&D Expenses to be Deducted as Revenue Expenditure [Read Order]")
![Apartments sanctioned for Residential Purposes were let out as Service Apartments: ITAT allows deduction U/s 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Apartments-residential-purpose-service-Apartments-ITAT-taxscan.jpg "Apartments sanctioned for Residential Purposes were let out as Service Apartments: ITAT allows deduction U/s 54F [Read Order]")
![ITAT upholds Addition for Unexplained Cash Credit due to Failure to prove Genuineness of Transaction using Demonetized Currencies [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Unexplained-Cash-Credit-Transaction-Demonetized-Currencies-taxscan.jpg "ITAT upholds Addition for Unexplained Cash Credit due to Failure to prove Genuineness of Transaction using Demonetized Currencies [Read Order]")
Addition towards Cash Payment u/s 40 A(3) will not sustain without Incriminating Material: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that addition towards cash payment u/s 40A(3) will not sustain without incriminating material and deleted the addition made by the AO....
![Addition towards Cash Payment u/s 40 A(3) will not sustain without Incriminating Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Undisclosed-income-corroborative-evidence-ITAT-taxscan.jpg "Addition towards Cash Payment u/s 40 A(3) will not sustain without Incriminating Material: ITAT [Read Order]")
Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that bad debt formed under the corporate structure scheme reduces sundry receivables and confirms the addition of bad debts written...
![Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/corporate-structure-scheme-sundry-receivables-bad-debts-ITAT-taxscan.jpg "Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]")
No Disallowance of Incentives paid to Employees u/s 40(a)(ia) If Payments are in Nature of Salaries: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) held that incentives paid to employees under section 40(a)(ia) in the nature of salaries cannot be disallowed. The assessee is in wholesale distribution of...
![No Disallowance of Incentives paid to Employees u/s 40(a)(ia) If Payments are in Nature of Salaries: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Incentives-paid-Employees-Salaries-ITAT-Taxscan.jpg "No Disallowance of Incentives paid to Employees u/s 40(a)(ia) If Payments are in Nature of Salaries: ITAT [Read Order]")