Income Tax Act
![Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provisions-Income-Tax-Act-are-Attracted-Trading-Liability-is-Written-back-ITAT-Deletes-Addition-TAXSCAN.jpg "Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]")
Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted addition holding that the provisions of Section 41(1) of the Income Tax Act would...
![Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Allowance-of-Set-off-of-Earlier-Years-Excess-Application-from-Subsequent-Year-Surplus-Income-Income-Tax-Act-to-Charitable-Trust-ITAT-Condones-Delay-TAXSCAN.jpg "Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]")
![Deduction u/s 80I of Income Tax Act should be Construed Liberally as the Intention of legislature is Promotion of Growth and Development of Infrastructure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Act-should-be-Construed-Liberally-Intention-of-legislature-is-Promotion-of-Growth-and-Development-of-Infrastructure-ITAT-TAXSCAN.jpg "Deduction u/s 80I of Income Tax Act should be Construed Liberally as the Intention of legislature is Promotion of Growth and Development of Infrastructure: ITAT [Read Order]")
![Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Invocation-of-Section-115-BBE-of-Income-Tax-Act-on-the-addition-made-on-account-of-unexplained-sundry-creditors-is-an-error-in-assessment-order-ITAT-upholds-Revision-order-TAXSCAN.jpg "Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]")
![Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gift-received-Unexplained-Cash-Credits-ITAT-Income-Tax-Act-TAXSCAN.jpg "Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]")
Receipt of IUC Charges by Telefonica from Indian customers /end users cannot be taxed as Royalty / FTS under Section 9(1)(vi)/(vii) of Income Tax Act and India-Spain DTAA: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal) ITAT) has held that the receipt of interconnectivity utility charges (IUC) from Indian customers or end users could not be taxed as royalty or...
![Receipt of IUC Charges by Telefonica from Indian customers /end users cannot be taxed as Royalty / FTS under Section 9(1)(vi)/(vii) of Income Tax Act and India-Spain DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Receipt-IUC-Receipt-of-IUC-Charges-IUC-Charges-Telefonica-India-Spain-DTAA-taxscan.jpg "Receipt of IUC Charges by Telefonica from Indian customers /end users cannot be taxed as Royalty / FTS under Section 9(1)(vi)/(vii) of Income Tax Act and India-Spain DTAA: ITAT [Read Order]")
Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 80P of the Income Tax Act ,1961 holding that the assessee co-operative society would be governed by...
![Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessee-Co-Operative-Society-ITAT-income-tax-act-Maharashtra-Co-Operative-Society-Act-taxscan.jpg "Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]")
Reopening After 4 years in the Absence of Tangible Material Amounts to Change of Opinion Only: ITAT quashes Reopening u/s 147 of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has quashed the reopening under Section 147 of the Income Tax Act 1961 holding that reopening after 4 years in the absence of tangible...
![Reopening After 4 years in the Absence of Tangible Material Amounts to Change of Opinion Only: ITAT quashes Reopening u/s 147 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reopening-Tangible-Material-ITAT-Income-Tax-Act-Income-Tax-Tangible-Material-Amounts-to-Change-of-Opinion-Taxscan.jpg "Reopening After 4 years in the Absence of Tangible Material Amounts to Change of Opinion Only: ITAT quashes Reopening u/s 147 of Income Tax Act [Read Order]")
Belated Filing of Tax Audit as Accountant Expired and New Accountant not Well Versed with Accounting is a Reasonable Cause: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271B of the Income Tax Act holding that the belated filing of tax audit as accountant had expired and...
![Belated Filing of Tax Audit as Accountant Expired and New Accountant not Well Versed with Accounting is a Reasonable Cause: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Filing-Tax-Audit-Belated-Filing-of-Tax-Audit-as-Accountant-Expired-Accountant-New-Accountant-ITAT-taxscan.jpg "Belated Filing of Tax Audit as Accountant Expired and New Accountant not Well Versed with Accounting is a Reasonable Cause: ITAT Deletes Penalty u/s 271B of Income Tax Act [Read Order]")
Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that if there is relevant material on the basis of which a reasonable person can form a requisite belief that income chargeable to tax...
![Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Re-Assessment-Re-Assessment-Proceedings-Income-Tax-Act-Reasonable-Person-ITAT-taxscan.jpg "Re-Assessment Proceedings u/s 147 of Income Tax Act can be Initiated on Relevant Material on Which Reasonable Person can Form Requisite Belief that Income Tax has Escaped: ITAT [Read Order]")
Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai held that Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction under Section 35(1)(i) of Income Tax Act, 1961.Thus the bench...
![Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Form-3CM-and-Form-3CL-issued-by-DSIR-deduction-Income-Tax-Act-ITAT-quashes-Revision-Order-TAXSCAN.jpg "Form 3CM and Form 3CL issued by DSIR is not mandatory for allowing deduction u/s 35(1)(i) of Income Tax Act: ITAT quashes Revision Order [Read Order]")
Mere Suspicious Information received from DDIT can't be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that mere suspicious information received from the Deputy Director of Income Tax (DDIT) cannot be a ground to raise an addition under...
![Mere Suspicious Information received from DDIT cant be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Mere-Suspicious-Information-DDIT-Addition-Income-Tax-Act-ITAT-taxscan.jpg "Mere Suspicious Information received from DDIT cant be a ground to raise Addition u/s 69B of Income Tax Act: ITAT [Read Order]")