![Principal Portion of Loan amount Waived by Lender Credited to P & L a/c is not liable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Principal-Portion-of-Loan-amount-Loan-amount-Profit-and-Loss-account-Lender-P-and-L-Tax-ITAT-taxscan.jpg "Principal Portion of Loan amount Waived by Lender Credited to P & L a/c is not liable to Tax: ITAT [Read Order]")
Principal Portion of Loan amount Waived by Lender Credited to P & L a/c is not liable to Tax: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the Principal Portion of the loan amount waived by lender credited to...
![Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Medical-Practitioners-Law-Income-Tax-Deduction-Income-Tax-ITAT-taxscan.jpg "Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not allowable: ITAT [Read Order]")
![Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gain-Deposit-Scheme-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]")
![CIT(E) has No Jurisdiction to impose Unstipulated conditions while granting Registration u/s 80G: ITAT rules in favour of Tata Education [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CITE-Registration-ITAT-rules-Tata-Education-TAXSCAN.jpg "CIT(E) has No Jurisdiction to impose Unstipulated conditions while granting Registration u/s 80G: ITAT rules in favour of Tata Education [Read Order]")
Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that Exemption u/s 11 of the Income Tax Act,1961 is allowable on income derived from property held under trust wholly for a...
![Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Exemption-Income-Property-Trust-Charitable-Purpose-ITAT-TAXSCAN.jpg "Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]")
![Owner Selling Property through GPA Holder: ITAT confirms Income as LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LTCG-for-Sale-of-Equity-Shares-as-Bogus-Income-Tax-Act-ITAT-confirms-Income-Tax-Addition-TAXSCAN.jpg "Owner Selling Property through GPA Holder: ITAT confirms Income as LTCG [Read Order]")
VAT collected Separately from Customer differ from Charges u/s 40 (a) (iib), Deduction allowable: ITAT quashes Revisional Order [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) VAT collected separate from customers different from charges u/s 40 (a) (iib) of the Income Tax Act,1961 and deductionis allowable. ...
![VAT collected Separately from Customer differ from Charges u/s 40 (a) (iib), Deduction allowable: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/VAT-Customer-differ-Charges-Deduction-ITAT-Revisional-Order-TAXSCAN.jpg "VAT collected Separately from Customer differ from Charges u/s 40 (a) (iib), Deduction allowable: ITAT quashes Revisional Order [Read Order]")
Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the non-filing of income tax returns for a period of four years despite having taxable income would attract penalty under...
![Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Habitual-Income-Tax-Returns-Taxable-Income-ITAT-Penalty-TAXSCAN.jpg "Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]")
ITAT orders Re-examination on Applicability of TDS u/s 195 of Income Tax Act on Payment made to Non-Residents [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), ordered re-examination on applicability of TDS under Section 195 of the Income Tax Act, 1961 on payment made to non-resident. The...
![ITAT orders Re-examination on Applicability of TDS u/s 195 of Income Tax Act on Payment made to Non-Residents [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Re-examination-Applicability-TDS-Income-Tax-Act-Payment-TAXSCAN.jpg "ITAT orders Re-examination on Applicability of TDS u/s 195 of Income Tax Act on Payment made to Non-Residents [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]")