![Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Turnover-of-a-Company-Alone-Cannot-be-Considered-as-Source-of-Loan-Turnover-of-a-Company-Source-of-Loan-Advanced-to-Assessee-ITAT-Income-Tax-Addition-Taxscan.jpg "Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]")
Turnover of a Company Alone Cannot be Considered as Source of Loan Advanced to Assessee, Secondary Onus Needs to be Proved: ITAT Deletes Income Tax Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the turnover alone could not be considered as source of loan as advanced to the...
![No Income Tax Addition without Examination of Documents Furnished by Assessee, on Ground of No Response to Notice Issued by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Income-Tax-Addition-Income-Tax-Addition-No-Income-Tax-Addition-without-Examination-of-Documents-Examination-of-Documents-Furnished-by-Assessee-No-Response-to-Notice-Issued-by-AO-ITAT-Taxscan.jpg "No Income Tax Addition without Examination of Documents Furnished by Assessee, on Ground of No Response to Notice Issued by AO: ITAT [Read Order]")
![Interest Received u/s 28 of Land Acquisition Act on Enhanced Compensation is not Taxable being Part of Compensation: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Interest-Received-Interest-Land-Acquisition-Act-Land-Acquisition-Act-on-Enhanced-Compensation-is-not-Taxable-ITAT-deletes-Income-Tax-Addition-ITAT-Taxscan.jpg "Interest Received u/s 28 of Land Acquisition Act on Enhanced Compensation is not Taxable being Part of Compensation: ITAT deletes Income Tax Addition [Read Order]")
![Discharge of Onus u/s 68 of Income Tax Act by Furnishing Identity and Creditworthiness of Parties: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Discharge-of-Onus-Income-Tax-Act-Income-Tax-Furnishing-Identity-and-Creditworthiness-of-Parties-Furnishing-Identity-Creditworthiness-ITAT-Income-Tax-Addition-taxscan.jpg "Discharge of Onus u/s 68 of Income Tax Act by Furnishing Identity and Creditworthiness of Parties: ITAT Deletes Income Tax Addition [Read Order]")
Lack of Jurisdictional Competency of TPO in Making Upward Adjustment in TP: ITAT Deletes Income Tax Addition [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the Assessing Officer (AO) Transfer pricing Officer (TPO) on account Transfer Pricing (TP) adjustment is...
![Lack of Jurisdictional Competency of TPO in Making Upward Adjustment in TP: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Lack-of-Jurisdictional-Competency-Jurisdictional-Competency-TPO-Upward-Adjustment-TP-ITAT-Income-Tax-Addition-Income-Tax-ITAT-Deletes-Income-Tax-Addition-Taxscan.jpg "Lack of Jurisdictional Competency of TPO in Making Upward Adjustment in TP: ITAT Deletes Income Tax Addition [Read Order]")
![Re-adjudication of Income Tax Addition as Unexplained Money: ITAT Restores Delayed Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Re-adjudication-of-Income-Tax-Addition-as-Unexplained-Money-ITAT-Restores-Delayed-Application-TAXSCAN-1.jpg "Re-adjudication of Income Tax Addition as Unexplained Money: ITAT Restores Delayed Application [Read Order]")
Mere Mistake in Service Tax Return does not Mean Income of Assessee has been Suppressed: ITAT Quashes Income Tax Addition [Read Order]
Quashing the Income Tax addition,the Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the difference of service tax return and the revenue that occured due to the wrong exchange rates...
![Mere Mistake in Service Tax Return does not Mean Income of Assessee has been Suppressed: ITAT Quashes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-Mistake-Service-Tax-Return-Income-of-Assessee-Suppressed-ITAT-Income-Tax-Addition-Taxscan.jpg "Mere Mistake in Service Tax Return does not Mean Income of Assessee has been Suppressed: ITAT Quashes Income Tax Addition [Read Order]")
Jharkhand HC confirms Deletion of Income Tax Addition on Business Expenses under “Provision for Warranty Expenses” [Read Order]
A Division Bench of the Jharkhand High Court confirmed the deletion of income tax addition on Business expenses under “Provision for Warranty Expenses”. The Respondent-assessee,Heavy Engineering...
![Jharkhand HC confirms Deletion of Income Tax Addition on Business Expenses under “Provision for Warranty Expenses” [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Jharkhand-High-Court-Jharkhand-HC-confirms-Deletion-of-Income-Tax-Addition-Income-Tax-Addition-Income-Tax-Addition-on-Business-Expenses-Business-Expenses-Taxscan.jpg "Jharkhand HC confirms Deletion of Income Tax Addition on Business Expenses under “Provision for Warranty Expenses” [Read Order]")
ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]
In the case of Unilever India Exports Limited, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has directed deleted the income tax addition towards ESOP. The assessee, Unilever India...
![ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ESOP-is-Capital-in-Nature-ITAT-Directs-to-Delete-Income-Tax-Addition-Against-Unilever-India-Export-TAXSCAN.jpg "ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]")
![Income Tax Addition cannot be Made Merely on Retracted Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Addition-Income-Tax-Retracted-Statement-ITAT-Statement-taxscan.jpg "Income Tax Addition cannot be Made Merely on Retracted Statement: ITAT [Read Order]")
![Carbon Credit Receipt is Capital Receipt: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Carbon-Credit-Receipt-is-Capital-Receipt-Carbon-Credit-Receipt-Capital-Receipt-ITAT-deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Taxscan.jpg "Carbon Credit Receipt is Capital Receipt: ITAT deletes Income Tax Addition [Read Order]")