![ICAI Guidelines for Calculating Turnover in Transactions related to Future and Options Reliable in the Absence of Statutory Provision: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ICAI-Guidelines-Transactions-Statutory-Provision-ITAT-TAXSCAN.jpg "ICAI Guidelines for Calculating Turnover in Transactions related to Future and Options Reliable in the Absence of Statutory Provision: ITAT [Read Order]")
ICAI Guidelines for Calculating Turnover in Transactions related to Future and Options Reliable in the Absence of Statutory Provision: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the ICAI ICAI Guidelines for calculating turnover in transactions related...
![Non-Submission of Documents due to Long Distance and Age: ITAT quashes Proceedings against Senior Citizen [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Documents-Long-Distance-Age-ITAT-Proceedings-Senior-Citizen-TAXSCAN-2.jpg "Non-Submission of Documents due to Long Distance and Age: ITAT quashes Proceedings against Senior Citizen [Read Order]")
![Relief to CRI Group: Royalty paid to Holding Company for Using Brand Name Deductible from Total Income, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CRI-Group-Royalty-Total-Income-ITAT-TAXSCAN.jpg "Relief to CRI Group: Royalty paid to Holding Company for Using Brand Name Deductible from Total Income, rules ITAT [Read Order]")
![ITAT grants Opportunity to Assessee for Appearance before CIT(A) being Senior Citizen and not aware Digital Communication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-CITA-being-Senior-Citizen-Digital-Communication-TAXSCAN.jpg "ITAT grants Opportunity to Assessee for Appearance before CIT(A) being Senior Citizen and not aware Digital Communication [Read Order]")
![Development Expense and Exchange Fluctuation Loss deducted from Export Turnover must be deducted also from Total Turnover: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Development-Expense-Export-Turnover-must-be-deducted-ITAT-TAXSCAN.jpg "Development Expense and Exchange Fluctuation Loss deducted from Export Turnover must be deducted also from Total Turnover: ITAT [Read Order]")
MSME registered for Skill Development not eligible for Income Tax Exemption under Section 12AA of Income Tax Act: ITAT [Read Order]
The Amritsar Bench of Income Tax Appellate Tribunal (ITAT) presided over by M.L.Meena (Accountant Member) and Anikesh Bnerjee (Judicial Member) upheld the decision of the Commissioner of Income Tax...
![MSME registered for Skill Development not eligible for Income Tax Exemption under Section 12AA of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/MSME-Income-Tax-Exemption-under-Income-Tax-Act-ITAT-TAXSCAN.jpg "MSME registered for Skill Development not eligible for Income Tax Exemption under Section 12AA of Income Tax Act: ITAT [Read Order]")
![Non-Compete Agreement is an Intangible Asset, Depreciation allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Non-Compete-Agreement-is-an-Intangible-Asset-Depreciation-ITAT-TAXSCAN.jpg "Non-Compete Agreement is an Intangible Asset, Depreciation allowable: ITAT [Read Order]")
CIT(A) can't disallow Deduction claimed u/s 80P(2)(d) When Assessee filed Independent Auditor’s Report under Maharashtra Co-operative Societies Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that CIT(A) can't disallow deduction claimed u/s 80P(2)(d) of the Income Tax Act,1961 when assessee filed an independent...
![CIT(A) cant disallow Deduction claimed u/s 80P(2)(d) When Assessee filed Independent Auditor’s Report under Maharashtra Co-operative Societies Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CITA-Deduction-claimed-Assessee-Independent-Auditors-Report-under-Maharashtra-Co-operative-Societies-Act-ITAT-TAXSCAN.jpg "CIT(A) cant disallow Deduction claimed u/s 80P(2)(d) When Assessee filed Independent Auditor’s Report under Maharashtra Co-operative Societies Act: ITAT [Read Order]")
![Income Tax Matters settled under DTVSV scheme cannot be Revised u/s 263: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Matters-settled-DTVSV-scheme-ITAT-TAXSCAN.jpg "Income Tax Matters settled under DTVSV scheme cannot be Revised u/s 263: ITAT [Read Order]")
Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that trading liabilities incurred with corresponding purchases cannot be the subject matter of addition under section 68 of the...
![Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Trading-Liabilities-incurred-Corresponding-Purchases-ITAT-TAXSCAN.jpg "Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]")
Rental Income derived from Lease of Plant & Machinery or Equipment Taxable under Head ‘Income from Other Sources’: ITAT [Read Order]
In the case of Penta soft technology, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the rental income derived from the lease of plant & machinery or equipment is...
![Rental Income derived from Lease of Plant & Machinery or Equipment Taxable under Head ‘Income from Other Sources’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Rental-income-plant-machinery-or-equipment-taxable-ITAT-TAXSCAN.jpg "Rental Income derived from Lease of Plant & Machinery or Equipment Taxable under Head ‘Income from Other Sources’: ITAT [Read Order]")
Transfer Pricing Order passed beyond the period of Limitation: ITAT quashes order u/s 92CA(3) [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) quashed the order under section 92CA(3) of the Income Tax Act,1961 as the transfer pricing order was passed beyond the period of...
![Transfer Pricing Order passed beyond the period of Limitation: ITAT quashes order u/s 92CA(3) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Transfer-pricing-order-Transfer-pricing-ITAT-order-taxscan.jpg "Transfer Pricing Order passed beyond the period of Limitation: ITAT quashes order u/s 92CA(3) [Read Order]")