![Co-operative Society Entitled to Claim Deduction u/s 57 for Expenditure Incurred on Interest Income from Banks: ITAT Remits Income Tax Matter [Read Order]](https://images.taxscan.in/h-upload/2025/10/23/500x300_2099400-interest-income-co-operative-society-taxscan.webp "Co-operative Society Entitled to Claim Deduction u/s 57 for Expenditure Incurred on Interest Income from Banks: ITAT Remits Income Tax Matter [Read Order]")
Co-operative Society Entitled to Claim Deduction u/s 57 for Expenditure Incurred on Interest Income from Banks: ITAT Remits Income Tax Matter [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) remitted the matter back to the Assessing Officer (AO) to verify the actual...
![Real Expenditure on Goods Received Despite Fictitious Invoices: ITAT Restricts Bogus Purchases Disallowance to 25% [Read Order]](https://images.taxscan.in/h-upload/2025/10/14/250x150_2096646-real-expenditure-goods-received-despite-invoices-itat-bogus-purchases-disallowance-taxscan.webp "Real Expenditure on Goods Received Despite Fictitious Invoices: ITAT Restricts Bogus Purchases Disallowance to 25% [Read Order]")
![Expenditure incurred exclusively for business to be allowed whether or not assessee was having any income during year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Expenditure-business-assessee-income-ITAT-taxscan.jpg "Expenditure incurred exclusively for business to be allowed whether or not assessee was having any income during year: ITAT [Read Order]")
![Relief to MSEDCL: ITAT deletes disallowance of Net Prior Period Expenditure debited under the head ‘prior Period Expenses’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/MSEDCL-ITAT-Net-Prior-Period-Expenditure-prior-Period-Expenses-taxscan.jpg "Relief to MSEDCL: ITAT deletes disallowance of Net Prior Period Expenditure debited under the head ‘prior Period Expenses’ [Read Order]")
Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that provisions of Section 40A (2) of the IT act governs the allowability of expenditure, thus the assessment of AO unsustainable. ...
![Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Allowability-of-expenditure-transfer-pricing-respect-specified-domestic-transaction-sustainable-ITAT-Re-Adjudication-RAXSCAN-1.jpg "Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]")
AO cannot step in the shoes of businessman to decide curtailing of excessive expenditure unless brought evidence of fraud: ITAT deletes addition [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Adoption of value by AO on the date of transfer being hypothetical makes the addition non tenable under section 48 of the Income...
![AO cannot step in the shoes of businessman to decide curtailing of excessive expenditure unless brought evidence of fraud: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/shoes-of-businessman-curtailing-of-excessive-expenditure-evidence-of-fraud-ITAT-deletes-addition-taxscan-.jpg "AO cannot step in the shoes of businessman to decide curtailing of excessive expenditure unless brought evidence of fraud: ITAT deletes addition [Read Order]")
Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest expenditure which had not been claimed in the profit and loss account could not be treated as revenue expense for...
![Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Interest-Expenditure-Expenditure-Profit-ITAT-taxscan.jpg "Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]")
AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition based on adhoc disallowance out of staff welfare expenses holding that the AO should not resort to adhoc disallowance....
![AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Resort-Adhoc-Disallowance-ITAT-Adhoc-Staff-Welfare-Expenses-TAXSCAN.jpg "AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]")
Addition Made by Tax Authorities Was Not Sustainable as Assessee Did Not Claim Job Charges: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has dismissed an addition made by the tax authorities to the tax liability of Standard Tele Towers P. Ltd. The ITAT held that the addition...
![Addition Made by Tax Authorities Was Not Sustainable as Assessee Did Not Claim Job Charges: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Addition-Tax-Authorities-Assessee-Claim-Job-Charges-ITAT-TAXSCAN.jpg "Addition Made by Tax Authorities Was Not Sustainable as Assessee Did Not Claim Job Charges: ITAT [Read Order]")
Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenditure incurred to avoid adverse effect on reputation and cost of litigation was a valid business exigency deductible...
![Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Expenditure-Incurred-Reputation-and-Cost-of-Litigation-Cost-of-Litigation-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that Authorities have failed to appreciate that the amount was in fact not an advance but was received mistakenly and which under a Court...
![Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Principal-Amount-Received-Advance-Principal-Amount-Expenditure-Income-Tax-act-Interest-ITAT-taxscan.jpg "Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]")