![Failure of AO in Applying Rate of Tax as per Amended Law: ITAT validates Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/AO-Applying-Rate-of-Tax-as-per-Amended-Law-ITAT-Revision-Order-TAXSCAN.jpg "Failure of AO in Applying Rate of Tax as per Amended Law: ITAT validates Revision Order [Read Order]")
Failure of AO in Applying Rate of Tax as per Amended Law: ITAT validates Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh validated the revision order as there was a failure of the Assessing Officer (AO) in applying...
![LIBOR cannot always be rate at which Intra-Bank Transactions take place: ITAT deletes ALP Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LIBOR-rate-at-which-Intra-Bank-Transactions-take-place-ITAT-deletes-ALP-Adjustment-TAXSCAN.jpg "LIBOR cannot always be rate at which Intra-Bank Transactions take place: ITAT deletes ALP Adjustment [Read Order]")
![Expenditure incurred during setting up of New Business and its Commencement is allowable as a Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Expenditure-Business-Deduction-ITAT-taxscan.jpg "Expenditure incurred during setting up of New Business and its Commencement is allowable as a Deduction: ITAT [Read Order]")
![Forex Loss from Trade Debtors/Creditors is Operating in Nature, No Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Forex-Loss-from-Trade-Debtors-Creditors-is-Operating-in-Nature-No-Tax-Deduction-ITAT-TAXSCAN.jpg "Forex Loss from Trade Debtors/Creditors is Operating in Nature, No Tax Deduction: ITAT [Read Order]")
![Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gains-Business-Loss-ITAT-upholds-Disallowance-of-Loss-on-account-of-write-off-Inventory-of-Cotton-TAXSCAN.jpg "Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]")
![UPS and Printers are part of Computer Systems, 60 % Depreciation allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/UPS-and-Printers-are-part-of-computer-systems-60-depreciation-allowable-ITAT-TAXSCAN.jpg "UPS and Printers are part of Computer Systems, 60 % Depreciation allowable: ITAT [Read Order]")
Amount in Nature of Debt Claim, till possession was actually handed over is Taxable under India UK DTAA: ITAT [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT), ruled that amount in nature of debt claim till possession of was actually handed over is taxable under India-UK Double Taxation...
![Amount in Nature of Debt Claim, till possession was actually handed over is Taxable under India UK DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Amount-in-Nature-of-Debt-Claim-Taxable-under-India-UK-DTAA-ITAT-TAXSCAN.jpg "Amount in Nature of Debt Claim, till possession was actually handed over is Taxable under India UK DTAA: ITAT [Read Order]")
Relief to Ambuja Cement: ITAT directs AO to exclude Sales Tax Incentive Subsidy for Computing Book Profit [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), directed Assessing Officer (AO) to exclude sales tax incentive subsidy for computing book profit, thereby granting relief to Ambuja...
![Relief to Ambuja Cement: ITAT directs AO to exclude Sales Tax Incentive Subsidy for Computing Book Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Ambuja-Cement-ITAT-AO-Sales-Tax-Incentive-Subsidy-Book-Profit-TAXSCAN.jpg "Relief to Ambuja Cement: ITAT directs AO to exclude Sales Tax Incentive Subsidy for Computing Book Profit [Read Order]")
![No Disallowance of Entire purchases when Sale of Finished product is Taxed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-Disallowance-of-Entire-purchases-Finished-product-is-Taxed-ITAT-TAXSCAN.jpg "No Disallowance of Entire purchases when Sale of Finished product is Taxed: ITAT [Read Order]")
Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Interest on income tax refund not connected with Permanent Establishment (PE), taxable under India Malaysia Double Taxation Avoidance...
![Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Interest-on-Income-Tax-Refund-PE-India-Malaysia-DTAA-ITAT-taxscan.jpg "Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]")
Agricultural Land used for Agricultural purposes is entitled for Exception u/s 2(14) of Income Tax Act: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that agricultural land used for agricultural purposes is entitled for exception under Section 2(14) of the Income Tax Act, 1961. ...
![Agricultural Land used for Agricultural purposes is entitled for Exception u/s 2(14) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Agricultural-Land-Agricultural-Land-used-for-Agricultural-purposes-Income-Tax-Act-ITAT-taxscan.jpg "Agricultural Land used for Agricultural purposes is entitled for Exception u/s 2(14) of Income Tax Act: ITAT [Read Order]")
Executive Search Fee is not 'Fee for Technical Services' under India Netherlands Tax Treaty: ITAT [Read Order]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Mumbai held that Executive search fee is not 'fee for technical services' under India Netherlands Tax Treaty. The assessee,Spencer...
![Executive Search Fee is not Fee for Technical Services under India Netherlands Tax Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Executive-Search-Fee-Fee-for-Technical-Services-India-Netherlands-Tax-Treaty-ITAT-TAXSCAN.jpg "Executive Search Fee is not Fee for Technical Services under India Netherlands Tax Treaty: ITAT [Read Order]")