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![Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/500x300_2074783-group-compaies-itat-taxscan.webp "Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]")
Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCIT's Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the free of cost equipment of ₹42.89 crore received from group companies...
![Half-Yearly Income Tax Case Digest: ITAT Decisions 2025 [Part X]](https://images.taxscan.in/h-upload/2025/08/02/250x150_2072310-half-yearly-income-tax-case-diges-itat-decisions-2025-part-x-taxscan.webp "Half-Yearly Income Tax Case Digest: ITAT Decisions 2025 [Part X]")
![Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Foreign-Travel-Expenses-Capital-Investment-Business-Expenditure-ITAT-taxscan.jpg "Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]")
![15% Contribution to SPV retained by Monitoring Committee to be treated as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/SPV-monitoring-committee-business-expenditure-ITAT.jpg "15% Contribution to SPV retained by Monitoring Committee to be treated as Business Expenditure: ITAT [Read Order]")
![Interest Payments to Associate members by Credit Co-operative Society eligible for Exemption u/s 194A(3)(v): ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Interest-Payments-Associate-members-Credit-Co-operative-Society-exemption-ITAT-Taxscan.jpeg "Interest Payments to Associate members by Credit Co-operative Society eligible for Exemption u/s 194A(3)(v): ITAT deletes Addition [Read Order]")
Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the Assessing Officer (AO) is not empowered to reject selection and valuation methods adopted by taxpayers. The assessee...
![Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Assessing-Officer-empowered-reject-selection-valuation-methods-adopted-Taxpayer-ITAT-taxscan.jpg "Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]")
![DTAA overrides provisions of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Income-Tax-Act-ITAT-Taxscan.jpeg "DTAA overrides provisions of Income Tax Act: ITAT [Read Order]")