![Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-of-Donation-Donation-made-to-Trust-Income-Tax-ITAT-taxscan.jpg "Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]")
Disallowance of Donation made to Trust u/s 35 AC of Income Tax without conducting Enquiry is invalid: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance of donations made to the trust under section 35 AC of the...
![Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Basic-Condition-as-Stipulated-under-Section-2711c-ITAT-Penalty-TAXSCAN.jpg "Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]")
![Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Assets-Transfer-of-development-rights-Supreme-Court-Bombay-High-Court-Judgment-Stock-in-trade-Transfer-of-Development-Rights-by-Builder-is-Transfer-of-Capital-Assets-Taxscan.jpg "Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]")
![No Disallowance of Expenditure on Account of Accumulated Service Tax of Rent: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Disallowance-of-Expenditure-Account-of-Accumulated-Service-Tax-of-Rent-ITAT-TAXSCAN.jpg "No Disallowance of Expenditure on Account of Accumulated Service Tax of Rent: ITAT [Read Order]")
Amounts Advanced for Business Transactions Between Parties Will not fall within the Definition of “Deemed Dividend”u/s 2(22)(e) of Income Tax Act: ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the amount advanced for business transactions between parties would not fall within the definition of deemed dividend...
Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that revision of the assessment order passed without enquiry into CFS charges paid to continental warehousing corporation...
![Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Order-passed-without-enquiry-Assessment-Order-CFS-Charges-Continental-Warehousing-Corporation-ITAT-Revision-Order-taxscan.jpg "Assessment Order passed without enquiry into CFS Charges paid to Continental Warehousing Corporation: ITAT upholds Revision Order [Read Order]")
ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT), dismissed an appeal stating lapse of more than 2 years to substitute the name of legal heirs for the deceased assessee. In the...
![ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Appeal-Substitute-Name-of-Legal-Heirs-for-Deceased-Assessee-TAXSCAN.jpg "ITAT dismisses Appeal on Lapse of more than 2 years to Substitute Name of Legal Heirs for Deceased Assessee [Read Order]")
Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]
The Hyderabad Bench Of Income Tax Appellate Tribunal (ITAT)has recently held that interest income of co-operative credit societis from credit balances deductible under section 80P(2)(a)(i) of the...
![Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-of-Co-operative-Credit-Societies-Co-operative-Credit-Societies-Interest-Income-Credit-Balances-ITAT-taxscan.jpg "Interest Income of Co-operative Credit Societies from Credit Balances deductible u/s 80P(2)(a)(i): ITAT [Read Order]")
“Reasons are life blood for any judicial/quasi-judicial order”: ITAT orders fresh adjudication on disallowance of 30% of ESOP cost [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench ordered fresh adjudication in the matter of disallowance of 30% of Employee Stock Ownership Plan (ESOP) cost and observed that reasons are...
![“Reasons are life blood for any judicial/quasi-judicial order”: ITAT orders fresh adjudication on disallowance of 30% of ESOP cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Reasons-are-life-blood-for-any-judicialquasi-judicial-order-ITAT-ESOP-cost-TAXSCAN-1.jpg "“Reasons are life blood for any judicial/quasi-judicial order”: ITAT orders fresh adjudication on disallowance of 30% of ESOP cost [Read Order]")
No addition can be made u/s 69A of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made under Section 69 of Income Tax Act 1961, on cash received on sale of ancestral...
![No addition can be made u/s 69A of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-cash-received-sale-of-Ancestral-Agricultural-Land-sale-Ancestral-Agricultural-Land-Income-Tax-ITAT-taxscan.jpg "No addition can be made u/s 69A of Income Tax Act on cash received on sale of Ancestral Agricultural Land: ITAT [Read Order]")
Lack of Motive behind Allegation of Assessee taking Accommodation Entries to Reduce Taxable Income: ITAT dismisses Revenue's Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding that there is lack of motive behind the allegation of the taking accommodation entries to...
![Lack of Motive behind Allegation of Assessee taking Accommodation Entries to Reduce Taxable Income: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Accommodation-Entries-to-Reduce-Taxable-Income-ITAT-Revenues-Appeal-TAXSCAN.jpg "Lack of Motive behind Allegation of Assessee taking Accommodation Entries to Reduce Taxable Income: ITAT dismisses Revenues Appeal [Read Order]")