![Addition cannot be Made and Sustained by Invoking the Deeming Provision of Section 68 of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Addition-Invoking-the-Deeming-Provision-Income-Tax-Act-ITAT-Income-Tax-Deeming-Provision-taxscan.jpg "Addition cannot be Made and Sustained by Invoking the Deeming Provision of Section 68 of the Income Tax Act: ITAT [Read Order]")
Addition cannot be Made and Sustained by Invoking the Deeming Provision of Section 68 of the Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition could not be made and sustained by invoking the deeming provision...
![Registration u/s 12 of Income Tax Act cannot be Denied without Providing Reasonable Opportunity of being Heard to Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Registration-Income-Tax-Act-Opportunity-of-being-Heard-to-Assessee-Income-Tax-ITAT-taxscan.jpg "Registration u/s 12 of Income Tax Act cannot be Denied without Providing Reasonable Opportunity of being Heard to Assessee: ITAT [Read Order]")
![ITAT deletes Addition u/s 36(1)(iii) of Income Tax Act as AO failed to Prove Interest Bearing Fund/Loans were not utilized for Business Purposes [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-deletes-addition-Income-Tax-Act-ITAT-Interest-Bearing-Fund-Loans-business-purposes-taxscan.jpg "ITAT deletes Addition u/s 36(1)(iii) of Income Tax Act as AO failed to Prove Interest Bearing Fund/Loans were not utilized for Business Purposes [Read Order]")
![Exception u/s 11 & 12 of Income Tax Act cannot be denied merely on Account of Delay in furnishing Audit Report: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Exception-Income-Tax-Act-Delay-in-furnishing-Audit-Report-ITAT-Income-Tax-Audit-Report-taxscan.jpg "Exception u/s 11 & 12 of Income Tax Act cannot be denied merely on Account of Delay in furnishing Audit Report: ITAT [Read Order]")
![Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Delhi-HC-upholds-Disallowance-of-Business-Loss-in-absence-of-Necessary-Documents-TAXSCAN.jpg "Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]")
Penalty u/s 271A(1)(d) of Income Tax Act shall not be Levied, if Assessee Shows Reasonable Cause for Non compliance of Statutory Notices: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that the penalty under Section 271A(1)(d) of Income Tax Act, 1961 should not be levied if the assessee shows the reasonable cause for...
![Penalty u/s 271A(1)(d) of Income Tax Act shall not be Levied, if Assessee Shows Reasonable Cause for Non compliance of Statutory Notices: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Income-Tax-Act-non-compliance-of-statutory-notices-ITAT-Income-Tax-taxscan.jpg "Penalty u/s 271A(1)(d) of Income Tax Act shall not be Levied, if Assessee Shows Reasonable Cause for Non compliance of Statutory Notices: ITAT [Read Order]")
No Disallowance of Business Expenses for Service Charges Collected from Tenant under the Head "Income from Business":ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT),held that the service charges collected from the tenant were accepted as assessable under the head “income from business”, therefore, the...
![No Disallowance of Business Expenses for Service Charges Collected from Tenant under the Head Income from Business:ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Disallowance-of-Business-Expenses-Disallowance-Service-Charges-Collected-from-Tenant-Business-Expenses-Tenant-Service-Charges-Income-from-Business-ITAT-taxscan.jpg "No Disallowance of Business Expenses for Service Charges Collected from Tenant under the Head Income from Business:ITAT [Read Order]")
Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that Authorities have failed to appreciate that the amount was in fact not an advance but was received mistakenly and which under a Court...
![Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Principal-Amount-Received-Advance-Principal-Amount-Expenditure-Income-Tax-act-Interest-ITAT-taxscan.jpg "Principal Amount Received Mistakenly and Not as an Advance to be Allowed as an Expenditure u/s 37 of Income Tax act along with the Interest: ITAT [Read Order]")
ITAT directs readjudication for granting exemption u/s 10(23C)(iiiab) of Income Tax Act in respect of Imparting Education through Charitable Trust [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench directed readjudication for granting exemption under Section 10(23c)(iiiab) of Income Tax Act, 1961 in respect of imparting the education...
![ITAT directs readjudication for granting exemption u/s 10(23C)(iiiab) of Income Tax Act in respect of Imparting Education through Charitable Trust [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-directs-readjudication-granting-exemption-readjudication-Income-Tax-Act-exemption-Charitable-Trust-taxscan.jpg "ITAT directs readjudication for granting exemption u/s 10(23C)(iiiab) of Income Tax Act in respect of Imparting Education through Charitable Trust [Read Order]")
Partnership Firm not entitled to Tax Deduction on LTCG u/s 48(i) of Income Tax Act for Mortgaging Property as Collateral Security: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that a partnership firm is not entitled to the tax deduction on Long-term capital gain (LTCG) under Section 48(i) of the Income Tax...
![Partnership Firm not entitled to Tax Deduction on LTCG u/s 48(i) of Income Tax Act for Mortgaging Property as Collateral Security: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Partnership-Firm-not-entitled-to-Tax-Deduction-on-LTCG-Income-Tax-Act-Tax-Deduction-on-LTCG-Mortgaging-Property-Collateral-Security-ITAT-Tax-Deduction-Partnership-Firm-taxscan.jpg "Partnership Firm not entitled to Tax Deduction on LTCG u/s 48(i) of Income Tax Act for Mortgaging Property as Collateral Security: ITAT [Read Order]")
Relief to Hitachi: ITAT Deletes Addition as Activity related to Offshore Portion of Contract not Attributable to PE's in India [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to Hitachi by deleting the addition holding that the activity related to the offshore portion of the contract was not...
![Relief to Hitachi: ITAT Deletes Addition as Activity related to Offshore Portion of Contract not Attributable to PEs in India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-Hitachi-ITAT-Deletes-Addition-Offshore-Portion-of-Contract-PEs-in-India-Hitachi-ITAT-taxscan.jpg "Relief to Hitachi: ITAT Deletes Addition as Activity related to Offshore Portion of Contract not Attributable to PEs in India [Read Order]")
DCB Reports are relevant Evidence in respect of Non-existence of demand on Proper Payment of CST and VAT: ITAT allows to file ITR [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that the Demand Collection Balance (DCB) reports are relevant evidence in respect of the non-existence of demand on proper payment...
![DCB Reports are relevant Evidence in respect of Non-existence of demand on Proper Payment of CST and VAT: ITAT allows to file ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/DCB-Reports-Evidence-Non-existence-of-demand-on-Proper-Payment-of-CST-VAT-CST-Proper-Payment-ITAT-allows-to-file-ITR-taxscan.jpg "DCB Reports are relevant Evidence in respect of Non-existence of demand on Proper Payment of CST and VAT: ITAT allows to file ITR [Read Order]")