![Relief to Infosys: ITAT directs to delete Income Tax Addition of SEZ Book Profits u/s. 115JB [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Infosys-ITAT-Income-Tax-Addition-of-SEZ-Book-Profits-Income-Tax-Addition-Income-Tax-taxscan.jpg "Relief to Infosys: ITAT directs to delete Income Tax Addition of SEZ Book Profits u/s. 115JB [Read Order]")
Relief to Infosys: ITAT directs to delete Income Tax Addition of SEZ Book Profits u/s. 115JB [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT), directed the Assessing Officer (AO) to delete addition of Special Economic Zone...
![ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Income-Tax-Corroborative-Evidence-Creditors-Assessee-Taxscan.jpg "ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]")
![Income Tax Addition cannot be made against Employee Handling Cash on behalf of Employer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Addition-Employee-handling-Cash-Employer-ITAT-Taxscan.jpg "Income Tax Addition cannot be made against Employee Handling Cash on behalf of Employer: ITAT [Read Order]")
![TDS not Applicable on Wages and AO Ignored Certificate by DDIT(E): ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/TDS-DDITE-ITAT-Income-Tax-Addition-Income-Tax-Tax-Taxscan.jpg "TDS not Applicable on Wages and AO Ignored Certificate by DDIT(E): ITAT deletes Income Tax Addition [Read Order]")
Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of notional rent in respect of residential assets held as stock-in-trade by the Builder is not valid. ...
![Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Builder-Residential-Assets-Notional-Rent-Notional-Rent-on-Residential-Assets-Stock-in-Trade-ITAT-Income-Tax-Addition-taxscan-.jpg "Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]")
Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that foreign currency is not a “commodity” and that addition based on the speculative transaction is not permissible. ...
![Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Foreign-Currency-Commodity-Income-Tax-Addition-Income-Tax-Tax-Speculative-Transactions-ITAT-Taxscan.jpg "Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]")
Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), deletes addition made by taxing sale of tea bushes and shade trees, thereby granting relief Doloo Tea Company (India) Ltd, the assessee....
![Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Doloo-Tea-Company-ITAT-Income-Tax-Addition-Taxing-Tea-bushes-Shade-Trees-TAXSCAN.jpg "Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]")
Excess Claim of Expenditure not be proved by relevant Bills: ITAT confirms Income Tax Addition. [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), confirmed addition as the excess claim of expenditure not be proved by relevant bills. The AO noticed from perusal of Tax Audit Report...
![Excess Claim of Expenditure not be proved by relevant Bills: ITAT confirms Income Tax Addition. [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Claim-of-Expenditure-Bills-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Excess Claim of Expenditure not be proved by relevant Bills: ITAT confirms Income Tax Addition. [Read Order]")
Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the condition of proving “source of source of funds” under 68 of the Income Tax Act,1961 does not apply to non-residents....
![Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Source-of-Funds-Non-Residents-ITAT-Income-Addition-taxscan.jpg "Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]")
Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), allowed income tax addition to Luthra and Luthra LLP on the ground that Bonus paid to partners attracts Section 40(b)(v) of Income Tax...
![Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bonus-Paid-to-Partners-attracts-Income-Tax-Act-ITAT-allows-Income-Tax-Addition-to-Luthra-and-Luthra-LLP-TAXSCAN.jpg "Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]")
![Income Tax Addition u/s 69A cant be based on Doubt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Addition-Income-Tax-Tax-ITAT-Taxscan.jpg "Income Tax Addition u/s 69A cant be based on Doubt: ITAT [Read Order]")