Income Tax Act
![Provision of S. 92B not applicable for AMP Expenses incurred for Business purpose in India: ITAT Grants Relief to L’oreal India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Provision-of-S.-92B-not-applicable-for-AMP-expenses-Provision-AMP-expenses-Business-purpose-ITAT-Grants-Relief-to-Loreal-India-taxscan.jpg "Provision of S. 92B not applicable for AMP Expenses incurred for Business purpose in India: ITAT Grants Relief to L’oreal India [Read Order]")
Provision of S. 92B not applicable for AMP Expenses incurred for Business purpose in India: ITAT Grants Relief to L’oreal India [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently held that Section 92B of the Income Tax Act, 1961, which defines International...
![ITAT Quashes Invalid Penalty Order on Deceased Assessee u/s 159(2) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Quashes-Invalid-Penalty-Order-Deceased-Assessee-us-1592-of-Income-Tax-Act-TAXSCAN.jpg "ITAT Quashes Invalid Penalty Order on Deceased Assessee u/s 159(2) of Income Tax Act [Read Order]")
![Cash loan Raised and Repaid between Firm and Partner not violation of 269SS and 269T of Income Tax Act: ITAT sets aside Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cash-loan-Raised-and-Repaid-Cash-loan-Raised-and-Repaid-between-Firm-and-Partner-Income-Tax-Act-ITAT-sets-aside-Revision-Order-ITAT-Revision-Order-Taxscan.jpg "Cash loan Raised and Repaid between Firm and Partner not violation of 269SS and 269T of Income Tax Act: ITAT sets aside Revision Order [Read Order]")
![Admission Fee Paid for PG Course does not amount to Capitation Fee: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Admission-Fee-Paid-for-PG-Course-Capitation-Fee-ITAT-Income-Tax-Act-TAXSCAN.jpg "Admission Fee Paid for PG Course does not amount to Capitation Fee: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]")
Non-Compliance of Procedure u/s 144B of Income Tax Act: P&H HC nullifies Income Tax Demand Notice [Read Order]
The Punjab and Haryana High Court has invalidated the demand notice and penalty proceedings following an assessment order, due to the non-adherence to clauses (vii) and (viii) of Section 144B(6) of...
![Non-Compliance of Procedure u/s 144B of Income Tax Act: P&H HC nullifies Income Tax Demand Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Demand-Notice-Income-Tax-Income-Tax-Demand-demand-notice-non-compliance-notice-Punjab-and-Haryana-High-Court-Tax-Taxscan.jpg "Non-Compliance of Procedure u/s 144B of Income Tax Act: P&H HC nullifies Income Tax Demand Notice [Read Order]")
No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made under Section 69 Income Tax Act, 1961 on money kept for treatment of grandmother. ...
![No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Money-kept-for-Treatment-of-Grand-Mother-Treatment-of-Grand-Mother-Treatment-ITAT-Taxscan.jpg "No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]")
ITAT deletes Penalty u/s 271B of Income Tax Act for Bonafide Belief on Treating Gross Commission as Turnover [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty under Section 271B of the Income Tax Act 1961, imposed on assessee for bonafide belief of treating gross commission...
![ITAT deletes Penalty u/s 271B of Income Tax Act for Bonafide Belief on Treating Gross Commission as Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Penalty-us-271B-of-Income-Tax-Act-Treating-Gross-Commission-Turnover-TAXSCAN.jpg "ITAT deletes Penalty u/s 271B of Income Tax Act for Bonafide Belief on Treating Gross Commission as Turnover [Read Order]")
Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Baroda's Plea [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that bad debts are allowable as a deduction under section 36(1)(vii) of the Income Tax Act, 1961. M/s. Bank of Baroda, the...
![Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Barodas Plea [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bad-debts-allowable-as-Deduction-Bad-debts-Deduction-Income-Tax-Act-Income-Tax-ITAT-allows-Bank-of-Barodas-Plea-ITAT-Bank-of-Barodas-Plea-Bank-of-Baroda-taxscan.jpg "Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Barodas Plea [Read Order]")
Limitation Period u/s 263(2) of Income Tax Act begins from date of Original Assessment Order not from Reassessment Order: ITAT quashes Revision Order
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the limitation period under section 263(2) of Income Tax Act, 1961 begins from the date of original assessment order not...
No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that no penalty should be imposed under Section 271(1)(c) of Income Tax Act, 1961 without issue of notice specifying charge. Assessee...
![No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Imposed-us-2711c-of-Income-Tax-Act-Notice-Specifying-Charge-ITAT-TAXSCAN.jpg "No Penalty shall be Imposed u/s 271(1)(c) of Income Tax Act without Issue of Notice Specifying Charge: ITAT [Read Order]")
Amount forfeited out of Share Capital is “Capital Receipt”, Not Taxable u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the amount forfeited out of share capital would amount to “capital receipt” and therefore, the provisions of section 56(2)(ix) of...
![Amount forfeited out of Share Capital is “Capital Receipt”, Not Taxable u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Amount-forfeited-Share-Capital-Amount-forfeited-out-of-Share-Capital-Capital-Receipt-Taxable-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Amount forfeited out of Share Capital is “Capital Receipt”, Not Taxable u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]")