![Expenditure incurred exclusively for business to be allowed whether or not assessee was having any income during year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Expenditure-business-assessee-income-ITAT-taxscan.jpg "Expenditure incurred exclusively for business to be allowed whether or not assessee was having any income during year: ITAT [Read Order]")
Expenditure incurred exclusively for business to be allowed whether or not assessee was having any income during year: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Chennai bench consisting of V Durga Rao, Judicial Member and Manoj Kumar Aggarwal, Accountant Member held that...
![ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Deletes-Addition-Income-Tax-Appellate-Tribunal-ITAT-mumbai-income-tax-addition-Income-Tax-taxscan.webp "ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]")
![ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds 1000 sq.fts Excluding Balcony Open to Sky [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Income-Tax-Act-Income-Tax-Appellate-Tribunal-Section-80IB10-of-the-Income-Tax-Act-ITAT-Allows-taxscan.jpg "ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds 1000 sq.fts Excluding Balcony Open to Sky [Read Order]")
![Exemption u/s 54F of Income Tax Act not allowable for 500 sqm Shed on Agricultural Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/site-img-6-1.jpg "Exemption u/s 54F of Income Tax Act not allowable for 500 sqm Shed on Agricultural Land: ITAT [Read Order]")
MP HC to Examine ITAT's Reliance on Investigation Report sans ITAT Rule 29 Compliance, Issues Notice to Income Tax Department [Read Order]
The Madhya Pradesh High Court has decided to scrutinize the Income Tax Appellate Tribunal ( ITAT ) 's reliance on an investigation report without adhering to ITAT Rule 29 compliance, and has...
![MP HC to Examine ITATs Reliance on Investigation Report sans ITAT Rule 29 Compliance, Issues Notice to Income Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Madhya-Pradesh-High-Court-Income-Tax-Department-ITAT-Rule-Income-Tax-Issues-Noticee-taxscan.jpg "MP HC to Examine ITATs Reliance on Investigation Report sans ITAT Rule 29 Compliance, Issues Notice to Income Tax Department [Read Order]")
Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the profit of business undertaking in proportion of export turnover to total turnover would be eligible for deduction under...
![Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/58bfc8d2-c4b6-44f0-b028-075b10fc79f3.jpg "Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]")
Relief to Samsung India: Delhi HC quashes Initiation of Reassessment Proceedings after Lapse of 4 years [Read Order]
In a major relief to Samsung India, the Delhi High Court quashed the initiation of reassessment proceedings after lapse of 4 years. The present appeal has been preferred by the Revenue against the...
Interest Received by Indian PE over Deposit in Head Office/Overseas Branch is Not Taxable in India: Delhi HC dismisses Income Tax Dept’s Appeal [Read Order]
The Delhi High Court in a recent case, held that interest received by an Indian permanent establishment ( PE ) over deposit in the head office/overseas branch is not taxable in India and dismissed...
Ratification Order under Income Tax Act Passed on Non Existing Entity is Invalid: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that a rectification order passed in the name of a non-existent entity, despite informing Revenue regarding its merger is invalid. ...
![Ratification Order under Income Tax Act Passed on Non Existing Entity is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-Tax-Act-ITAT-Ratification-Income-Tax-Appellate-Tribunal-non-existent-entity-Income-Tax-taxscan.jpg "Ratification Order under Income Tax Act Passed on Non Existing Entity is Invalid: ITAT [Read Order]")
Payments on 'Transactional Charges' not covered u/s 194J(1)(ba) of Income Tax Act: ITAT deletes Penalty [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty order passed by the Commissioner of Income Tax ( Appeal ) ( CIT(A) ) under section 271C. of the Income Tax...
![Payments on Transactional Charges not covered u/s 194J(1)(ba) of Income Tax Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/097164cd-1ac6-4369-a337-9642d092d668.jpg "Payments on Transactional Charges not covered u/s 194J(1)(ba) of Income Tax Act: ITAT deletes Penalty [Read Order]")
Rejection of Registration of Trust due to Mismatch of Trust name in Legal Documents and PAN database: ITAT directs Re adjudication [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT ) directed readjudication after finding that the CIT(Exemption) rejected the registration of trust due to mismatch of trust...
![Rejection of Registration of Trust due to Mismatch of Trust name in Legal Documents and PAN database: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/readjudication-Rejection-of-registration-ITAT-ahmedabad-PAN-taxscan.jpg "Rejection of Registration of Trust due to Mismatch of Trust name in Legal Documents and PAN database: ITAT directs Re adjudication [Read Order]")