![Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Charging-High-Premium-correct-Test-for-making-Addition-Test-for-making-Addition-High-Premium-Income-Tax-Act-Delhi-High-Court-making-Addition-correct-Test-Tax-News-TAXSCAN.jpg "Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]")
Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]
The Delhi High Court recently ruled that charging high premium not correct test for making addition under Section 68 of the Income Tax Act, 1961. ...
![Inclusion of Comparable, even if it Clears Filters: Delhi HC allows Income Tax Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Inclusion-Inclusion-of-Comparable-even-if-it-Clears-Filters-Filters-Delhi-HC-Income-Tax-Appeal-Income-Tax-taxscan-1.jpg "Inclusion of Comparable, even if it Clears Filters: Delhi HC allows Income Tax Appeal [Read Order]")
![Transporting Petroleum products from Indian Oil Station to Petrol Pump through Tanker are not Contractual Receipt: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Transporting-Petroleum-products-from-Indian-Oil-Station-Petrol-Pump-Transporting-Petroleum-products-Indian-Oil-Station-contractual-receipt-ITAT-quashes-Revision-Order-taxscan.jpg "Transporting Petroleum products from Indian Oil Station to Petrol Pump through Tanker are not Contractual Receipt: ITAT quashes Revision Order [Read Order]")
Failure to produce Evidence in support of Claim of Credit Liabilities towards Labour Groups: ITAT upholds Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench held that the assessee failed to produce evidence in support of the claim of credit liabilities towards labor groups. Therefore, the...
![Failure to produce Evidence in support of Claim of Credit Liabilities towards Labour Groups: ITAT upholds Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-produce-evidence-Credit-Liabilities-towards-Labour-Groups-ITAT-upholds-Disallowance-Income-Tax-Act-Income-Tax-taxscan.jpg "Failure to produce Evidence in support of Claim of Credit Liabilities towards Labour Groups: ITAT upholds Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]")
Office Memorandums by CBDT not Operate as Fetter on Commissioner as it is a Quasi-Judicial Authority: Kerala HC Allows to Deposit orders of Lesser Amount than 20% in Pending Appeal [Read Order]
A Single Bench of Income Tax Appellate Tribunal (ITAT) has allowed to grant deposit orders of lesser amount than 20% in pending appeal as the office memorandums issued by Central Board of Direct...
Failure to prove Creditworthiness of Creditor and Genuineness of Transaction: ITAT confirms Addition u/s 60 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) confirmed the addition under Section 60 of the Income Tax Act, 1961 due to the failure of the assessee to prove the creditworthiness of the...
![Failure to prove Creditworthiness of Creditor and Genuineness of Transaction: ITAT confirms Addition u/s 60 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Creditworthiness-of-Creditor-Genuineness-of-Transaction-ITAT-Income-Tax-Act-taxscan.jpg "Failure to prove Creditworthiness of Creditor and Genuineness of Transaction: ITAT confirms Addition u/s 60 of Income Tax Act [Read Order]")
![Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Addition-of-loss-Computation-of-Income-ITAT-Income-Tax-Appellate-Tribunal-taxscan.jpg "Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]")
A person who fails to avail Opportunity Granted to him Cannot Complain about Violation of Principles of Natural Justice: Kerala HC directs to File Appeal before Income Tax Appellate Tribunal [Read Order]
The Kerala High Court observed that a person who failed to avail opportunity granted to him cannot complain about violation of principles of natural justice and directed the petitioner to file appeal...
![A person who fails to avail Opportunity Granted to him Cannot Complain about Violation of Principles of Natural Justice: Kerala HC directs to File Appeal before Income Tax Appellate Tribunal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Violation-of-Principles-Natural-Justice-Kerala-HC-File-Appeal-Income-Tax-Appellate-Tribunal-taxscan.jpg "A person who fails to avail Opportunity Granted to him Cannot Complain about Violation of Principles of Natural Justice: Kerala HC directs to File Appeal before Income Tax Appellate Tribunal [Read Order]")
Payment towards Employees’ contribution on account of PF/ESIC made after due date prescribed relevant statutes attract Disallowance u/s 36(1)(va) of Income Tax Act: ITAT dismisses assesee Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, held that payments towards employees' contributions on account of Provident Fund and Employee State Insurance Contributions made after the due...
![Payment towards Employees’ contribution on account of PF/ESIC made after due date prescribed relevant statutes attract Disallowance u/s 36(1)(va) of Income Tax Act: ITAT dismisses assesee Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-towards-Employees-contribution-on-account-of-PF-ESIC-Employees-contribution-Disallowance-Income-Tax-Act-ITAT-dismisses-assesee-Appeal-taxscan.jpg "Payment towards Employees’ contribution on account of PF/ESIC made after due date prescribed relevant statutes attract Disallowance u/s 36(1)(va) of Income Tax Act: ITAT dismisses assesee Appeal [Read Order]")
Initiation of Recovery Proceedings on pending Income Tax Appeal: Kerala HC directs to Dispose Appeal within 3 Months [Read Order]
The Kerala High Court directed the Income Tax department to dispose of the pending appeal within 3 months as the recovery proceedings under the Income Tax Act, 1961 was initiated during the pendency...
![Initiation of Recovery Proceedings on pending Income Tax Appeal: Kerala HC directs to Dispose Appeal within 3 Months [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Initiation-of-Recovery-Proceedings-Income-Tax-Appeal-Kerala-HC-Dispose-Appeal-taxscan.jpg "Initiation of Recovery Proceedings on pending Income Tax Appeal: Kerala HC directs to Dispose Appeal within 3 Months [Read Order]")