![Firm liable for Levy of Surcharge Only When Total Income Exceeds One Crore Rupees: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Levy-of-Surcharge-Total-Income-ITAT-Surcharge-Income-Taxscan.jpg "Firm liable for Levy of Surcharge Only When Total Income Exceeds One Crore Rupees: ITAT [Read Order]")
Firm liable for Levy of Surcharge Only When Total Income Exceeds One Crore Rupees: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that the firm was only liable for a levy surcharge when the total...
![Capital Gain Exemption u/s 54F cannot be Allowed for Sale and Purchase of Plots: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-Exemption-Capital-Gain-Sale-and-Purchase-of-Plots-Sale-Purchase-Plots-ITAT-Income-Tax-Tax-Taxscan.jpg "Capital Gain Exemption u/s 54F cannot be Allowed for Sale and Purchase of Plots: ITAT [Read Order]")
![Mere Securing a House on Rent in USA is not conclusive fact that Assessee is US Resident to Allow DTAA Benefit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/House-on-Rent-DTAA-US-Resident-DTAA-Benefit-ITAT-income-tax-taxscan.jpg "Mere Securing a House on Rent in USA is not conclusive fact that Assessee is US Resident to Allow DTAA Benefit: ITAT [Read Order]")
![Payment for Breach of Contractual Obligation Pursuant to An Arbitration Award Deductible from Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Payment-Breach-of-Contractual-Obligation-Contractual-Obligation-Arbitration-Award-Business-Income-ITAT-Income-Tax-taxscan-.jpg "Payment for Breach of Contractual Obligation Pursuant to An Arbitration Award Deductible from Business Income: ITAT [Read Order]")
![Rule 128(9) Disallowing FTC in case of Delay in filing Form 67 Contrary to Indo-USA DTAA, Shall be Read Down: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/FTC-case-of-Delay-filing-Form-67-Form-67-Indo-USA-DTAA-ITAT-Income-Tax-taxscan-.jpg "Rule 128(9) Disallowing FTC in case of Delay in filing Form 67 Contrary to Indo-USA DTAA, Shall be Read Down: ITAT [Read Order]")
![Assessing Officer cannot refer matter to DVO without rejecting Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Assessing-Officer-DVO-Books-of-Account-ITAT-taxscan.jpg "Assessing Officer cannot refer matter to DVO without rejecting Books of Account: ITAT [Read Order]")
Shareholders failed to prove Source of their Investments: ITAT grants Opportunity to prove Genuineness and Creditworthiness of Shareholder [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) grants the opportunity to prove the genuineness and creditworthiness of shareholders as they file to prove the source of Investment. ...
![Shareholders failed to prove Source of their Investments: ITAT grants Opportunity to prove Genuineness and Creditworthiness of Shareholder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Source-of-Investments-ITAT-Investments-Genuineness-of-Shareholders-Creditworthiness-of-Shareholder-taxscan.jpg "Shareholders failed to prove Source of their Investments: ITAT grants Opportunity to prove Genuineness and Creditworthiness of Shareholder [Read Order]")
ITAT grants Opportunity to Assessee for Appearance before CIT(A) being Senior Citizen and not aware Digital Communication [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT), granted opportunity to assessee for appearance before Commissioner of Income Tax (Appeals) (CIT(A)) being Senior citizen and not aware...
![ITAT grants Opportunity to Assessee for Appearance before CIT(A) being Senior Citizen and not aware Digital Communication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-CITA-being-Senior-Citizen-Digital-Communication-TAXSCAN.jpg "ITAT grants Opportunity to Assessee for Appearance before CIT(A) being Senior Citizen and not aware Digital Communication [Read Order]")
Expenditure incurred for Construction of a New Facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that expenditure incurred for construction of a new facility and subsequently abandoned at work-in-progress stage is allowable...
![Expenditure incurred for Construction of a New Facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Expenditure-Construction-Facility-Revenue-Expenditure-ITAT-Income-Tax-taxscan.jpg "Expenditure incurred for Construction of a New Facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure: ITAT [Read Order]")
WDV has to be Calculated When Assessee receives Income from Software Services related to Health Care, CIT(A) failed to quantify rate of Depreciation and WDV of Asset: ITAT
The Hyderabad bench of the Income Tax Appellate Tribunal(ITAT) has held that Written Down Value(WDV) has to be calculated when the assessee receives income from software services related to health...
Loss of Investment written off as Bad Debt and Same can't Claim as Business Loss: ITAT upholds Order of CIT(A) against Ceramin India [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Loss of investment written off as bad debt and same can't claim as a business loss and upheld order of CIT(A) against...
![Loss of Investment written off as Bad Debt and Same cant Claim as Business Loss: ITAT upholds Order of CIT(A) against Ceramin India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Loss-of-Investment-Investment-written-off-Bad-Debt-Bad-Debt-written-off-Claim-Business-Loss-ITAT-CITA-Ceramin-India-Taxscan.jpg "Loss of Investment written off as Bad Debt and Same cant Claim as Business Loss: ITAT upholds Order of CIT(A) against Ceramin India [Read Order]")
Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that income Addition on unexplained Expenditure is valid when assessee fails to explain the source of expenditure Shri...
![Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Addition-on-Unexplained-Expenditure-is-valid-When-Assessee-fails-to-Explain-the-Source-of-Expenditure-ITAT-TAXSCAN.jpg "Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]")