![No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Incriminating-Materials-Delhi-HC-TAXSACN.jpg "No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]")
No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]
A Division Bench of the High Court of Delhi comprising Justice Manmohan and Justice Manmeet Pritam Singh Arora recently dismissed an appeal by the...
![Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Dividends-Business-Income-Delhi-HC-Appeal-PNB-Housing-Finance-Ltd-TAXSCAN.jpg "Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]")
![Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ALP-Royalty-Payment-Delhi-HC-Income-Tax-Departments-TAXSCAN.jpg "Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]")
![Booking Function does not amount to Substantial Business Activity: Delhi HC grants Relief to Travelport L P USA [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Booking-Function-Delhi-HC-Travelport-L-P-USA-TAXSCAN.jpg "Booking Function does not amount to Substantial Business Activity: Delhi HC grants Relief to Travelport L P USA [Read Order]")
![Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Interest-Income-Staff-Loans-Fixed-Deposits-Business-Income-ITAT-TAXSCAN.jpg "Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]")
Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench presided by S.S.Godara, Judicial Member held that prima facie belief that there is the escape of income is sufficient proof to initiate...
![Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/income-reassessment-proceedings-ITAT-taxscan.jpeg "Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]")
PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal has held that Principal Commissioner of Income Tax (PCIT) fails to mention as to how assessment order was erroneous and prejudicial to interest of...
![PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/PCIT-Assessment-Order-Interest-Revenue-ITAT-taxcan.jpeg "PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]")
Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Shri Chandra Mohan Garg, judicial member & Shri Anadee Nath Misshra, accountant member has held cessation of liability u/s41(1) not charged...
![Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/liability-outstanding-liabilities-books-of-account-ITAT-taxscan.jpeg "Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]")
Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]
Conditions for revision under Section 263 are not fulfilled hence Income Tax Appellate Tribunal (ITAT), Ahmedabad set asides order as there is no prejudice to interest of revenue. The assessee,...
![Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Revision-ITAT-Order-interest-revenue-taxscan.jpg "Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]")
Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal has held that subsidy received by assessee under Package Scheme of Incentives is a capital receipt and not chargeable to tax. The assessee, Haldex...
![Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Package-Scheme-Incentives-Capital-Receipt-Tax-ITAT-taxscan.jpg "Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]")
Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessee's Mother [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Suchitra Kamble, Judicial Member, and Waseem Ahmed, Accountant Member held that details in return of income which are not...
![Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessees Mother [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Gift-Mother-ITAT-Penalty-AO-Assessees-Mother-taxscan.jpg "Gift from Mother: ITAT deletes Penalty since AO does not examine the Veracity of Affidavit filed by Assessees Mother [Read Order]")
Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has allowed a depreciation claim under section 32 of the Income Tax Act, 1961 by observing that the purchase of 120 computers by the...
![Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Computers-Publishers-ITAT-Depreciation-taxscan-2.jpg "Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]")