![NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/WhatsApp-Image-2024-08-05-at-11.58.26-AM.jpeg "NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]")
NBFC Loan to its Sister Concern is for Mere Shift of Funds from One Entity to Another: ITAT rejects Bad Debt Claim [Read Order]
Recently, the Income Tax Appellate Authority ( ITAT ) of Delhi disallowed a bad debt deduction claim upholding the CIT(A)’s decision stating the loan...
![No Deduction for Interest Paid on FCCD under Tonnage Tax Scheme: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Tax-Scheme-FCCD-Deduction-Foreign-Currency-Convertible-Debentures-taxscan.jpg "No Deduction for Interest Paid on FCCD under Tonnage Tax Scheme: ITAT [Read Order]")
![S.80G(5) Registration Application Submitted Afresh within Extended Time: ITAT directs CIT(E) to consider Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Application-for-Registration-IT-ActTrust-constructs-Building-deriving-Funds-from-Trust-on-Land-Owned-by-Trustees-ITAT-TAXSCAN.jpg "S.80G(5) Registration Application Submitted Afresh within Extended Time: ITAT directs CIT(E) to consider Application [Read Order]")
![“Dragging the assessee to litigation and creating another Demand”: ITAT raps AO and Appellate Authority for failing to examine facts on record [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Appellate-Authority-AO-ITAT-raps-litigation-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "“Dragging the assessee to litigation and creating another Demand”: ITAT raps AO and Appellate Authority for failing to examine facts on record [Read Order]")
![Disputed Transaction outside ambit of Income Tax Section 2(22)(e): ITAT directs AO to delete Additions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/TAT-ITAT-directs-AO-Income-Tax-Income-Tax-Appellate-Tribunal-Income-Tax-Act-Assessing-Officer-ITAT-bangalore-taxscan.jpg "Disputed Transaction outside ambit of Income Tax Section 2(22)(e): ITAT directs AO to delete Additions [Read Order]")
Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]
The Jharkhand High Court dismissed the department's appeal, ruling that a delayed condonation application not filed with the appeal memo cannot rectify defects if submitted later. The department...
![Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Jharkhand-High-Court-Jharkhand-HC-Jharkhand-HC-dismisses-Income-Tax-Income-Tax-Dept-Appeal-taxscan.webp "Non-Filing of Condonation Application with Appeal Memo: Jharkhand HC dismisses Income Tax Dept Appeal [Read Order]")
![ITAT deletes 69 Addition as Cash Sales cant take place before Commencement of Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Cash-Sales-place-Commencement-Business-taxscan.jpg "ITAT deletes 69 Addition as Cash Sales cant take place before Commencement of Business [Read Order]")
Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) held that the indexation benefit is allowable based on the cost of acquisition of property sold by the taxpayer. It was held that the...
![Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Appellate-Tribunal-ITAT-Taxpayer-indexation-acquisition-of-property-long-term-capital-loss-taxscan.jpg "Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]")
No Wrong in Jewellery kept in Maternal Family by Married Daughter: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) found no wrongdoing in jewellery being kept in the maternal family by a married daughter, leading to the deletion of the related addition. ...
![No Wrong in Jewellery kept in Maternal Family by Married Daughter: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-Tax-Addition-ITAT-Delhi-Income-Tax-Jewellery-Income-Tax-Jewellery-in-Maternal-Family-Taxscan.jpg "No Wrong in Jewellery kept in Maternal Family by Married Daughter: ITAT deletes Addition [Read Order]")
No Evidence to prove Receipt of commission from foreign Entities: Delhi HC Dismisses Income Tax Dept’s Appeal [Read Order]
In a recent case, the Delhi High Court dismissed the Income Tax Department’s appeal as there was no evidence to prove receipt of commission from foreign entities. It was viewed that the Revenue was...
![No Evidence to prove Receipt of commission from foreign Entities: Delhi HC Dismisses Income Tax Dept’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Department-Delhi-High-Court-Delhi-HC-Income-Tax-Appeal-TAXSCAN.jpg "No Evidence to prove Receipt of commission from foreign Entities: Delhi HC Dismisses Income Tax Dept’s Appeal [Read Order]")
Rs.1128.46 crores Income Tax Demand against Vi Services Ltd: Bombay HC directs to Furnish Corporate Guarantee of Ultimate Parent Company [Read Order]
In the case of Vodafone India Services Pvt. Ltd, the Bombay High Court directs to furnish a corporate guarantee of the ultimate parent company namely, Vodafone International Holdings BV, Netherlands...
![Rs.1128.46 crores Income Tax Demand against Vi Services Ltd: Bombay HC directs to Furnish Corporate Guarantee of Ultimate Parent Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Demand-Bombay-High-Court-Bombay-HC-Vi-news-TAXSCAN.jpg "Rs.1128.46 crores Income Tax Demand against Vi Services Ltd: Bombay HC directs to Furnish Corporate Guarantee of Ultimate Parent Company [Read Order]")
