![Depreciation Claim u/s 32 Requires Fixed Assets to be used for Business Purposes: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Depreciation-Claim-Requires-Fixed-Assets-to-be-used-for-Business-Purposes-ITAT-TAXSCAN.jpg "Depreciation Claim u/s 32 Requires Fixed Assets to be used for Business Purposes: ITAT [Read Order]")
Depreciation Claim u/s 32 Requires Fixed Assets to be used for Business Purposes: ITAT [Read Order]
The Bench of the Income Tax Appellate Tribunal (ITAT) recently held that the claim for depreciation under Section 32 of the Income Tax Act requires...
![Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-us-50C-of-Income-Tax-Act-based-on-SVAs-Overvaluation-of-Capital-Gain-Sale-Consideration-ITAT-directs-Readjudication-TAXSCAN.jpg "Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]")
![No Transfer of Asset During year and no Determination of Short Term Capital Gain and Loss: ITAT allows Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/transfer-of-assetc-short-term-capital-gain-Short-term-Capital-loss-ITAT-allows-depreciation-taxscan.jpg "No Transfer of Asset During year and no Determination of Short Term Capital Gain and Loss: ITAT allows Depreciation [Read Order]")
![DSIR Registration is Sufficient to Claim Deduction u/s 35 (2AB) for Cases Prior to Clause (b) Rule 6(7A) Amendment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/DSIR-Registration-is-Sufficient-to-Claim-Deduction-Cases-Prior-to-Clause-b-Rule-67A-Amendment-ITAT-TAXSCAN.jpg "DSIR Registration is Sufficient to Claim Deduction u/s 35 (2AB) for Cases Prior to Clause (b) Rule 6(7A) Amendment: ITAT [Read Order]")
![Private Religious Trusts not eligible for Registration u/s 12AA of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Private-Religious-Trusts-Registration-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Private Religious Trusts not eligible for Registration u/s 12AA of Income Tax Act: ITAT [Read Order]")
Bitumen not 'Valuable Article’, Carrier of Bitumen not ‘Owner' u/s 69A of Income Tax Act: Supreme Court [Read Judgement]
In a major ruling the Supreme Court of India observed that bitumen cannot be treated as a ‘valuable article’ under Section 69A of the Income Tax Act, 1961 and the ownership of the goods did not pass...
![Bitumen not Valuable Article’, Carrier of Bitumen not ‘Owner u/s 69A of Income Tax Act: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/05/Bitumen-Valuable-Article-wner-Income-Tax-Act-Income-Tax-Supreme-Court-taxscan.jpg "Bitumen not Valuable Article’, Carrier of Bitumen not ‘Owner u/s 69A of Income Tax Act: Supreme Court [Read Judgement]")
Ex-parte Addition of Cash Deposit made in Bank during Demonetisation Period u/s 69A of I-T Act: ITAT directs Readjudication
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) decided to give opportunity to the assessee to produce all the relevant documents before the Assessing Officer (AO) for fact verification...
![A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/A-Mere-Right-to-Sue-Not-Subject-to-Income-Tax-under-Capital-Gains-Not-Transferable-ITAT-TAXSCAN.jpg "A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]")
ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]
In the case of Unilever India Exports Limited, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has directed deleted the income tax addition towards ESOP. The assessee, Unilever India...
![ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ESOP-is-Capital-in-Nature-ITAT-Directs-to-Delete-Income-Tax-Addition-Against-Unilever-India-Export-TAXSCAN.jpg "ESOP is Capital in Nature: ITAT Directs to Delete Income Tax Addition Against Unilever India Export [Read Order]")
Non -Resident assessee not required to Disclose any Asset held Outside India in Return of Income filed in India: ITAT quashes Re-assessment Order [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that non resident assessees should not be required to disclose any asset held outside India in return of income file in...
![Non -Resident assessee not required to Disclose any Asset held Outside India in Return of Income filed in India: ITAT quashes Re-assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Non-Resident-assessee-not-required-to-Disclose-any-Asset-held-Outside-India-in-Return-of-Income-filed-in-India-ITAT-quashes-Re-assessment-Order-TAXSCAN.jpg "Non -Resident assessee not required to Disclose any Asset held Outside India in Return of Income filed in India: ITAT quashes Re-assessment Order [Read Order]")