![ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Estimated-AO-Hypothetical-Disallowance-Loss-claimed-Assessee-Income-Tax-Act-TAXSCAN.jpg "ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]")
ITAT Deletes Estimated Addition made by AO in Hypothetical Way by making Disallowance of Loss claimed by Assessee u/s 41 of Income Tax Act [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the estimated addition made by the Assessing Officer (AO) in a hypothetical way...
![AO not justified in comparing market value of land for distress sale, which is less than that of the stamp duty value: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AO-market-value-land-distress-sale-stamp-duty-value-ITAT-Addition-TAXSCAN.jpg "AO not justified in comparing market value of land for distress sale, which is less than that of the stamp duty value: ITAT deletes Addition [Read Order]")
![ITAT directs Re-adjudication on Transfer Pricing Adjustments against Reckitt Benckiser by Treating allocated Expenses as NIL [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Re-adjudication-Transfer-Pricing-Adjustments-Reckitt-Benckiser-taxscan.jpg "ITAT directs Re-adjudication on Transfer Pricing Adjustments against Reckitt Benckiser by Treating allocated Expenses as NIL [Read Order]")
![Amenities provided to Tenants of House Property Compute under head of Income from House Property: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Amenities-Amenities-provided-to-tenants-tenants-house-property-ITAT-taxscan.jpg "Amenities provided to Tenants of House Property Compute under head of Income from House Property: ITAT deletes Addition [Read Order]")
![TDS not Applicable on Discount Allowed to Retailers by Distributors on Sale of Prepaid Sim Cards/Mobile Recharge Card: ITAT deletes Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/TDS-not-Applicable-on-Discount-Allowed-Sale-of-Prepaid-Sim-Cards-Mobile-Recharge-Card-ITAT-Deletes-Disallowance-Income-Tax-Act-Discount-Allowed-to-Retailers-Income-Tax-taxscan.jpg "TDS not Applicable on Discount Allowed to Retailers by Distributors on Sale of Prepaid Sim Cards/Mobile Recharge Card: ITAT deletes Disallowance u/s 40(a)(ia) of Income Tax Act [Read Order]")
Additional Depreciation is allowable u/s 32(1(iia) of Income Tax Act on Plant & Machinery Installed in the Captive Power Plant: ITAT
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the additional depreciation is allowable under Section 32(1)(iia) of the Income Tax Act, 1961 on plant and machinery installed...
Deduction claimed u/s 80C of Income Tax Act can't be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction claimed under Section 80C of the Income Tax Act, 1961 cannot be rejected merely on the ground of non-mentioning...
![Deduction claimed u/s 80C of Income Tax Act cant be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-claimed-Income-Tax-Act-cant-be-rejected-of-Non-mentioning-of-Claim-ITR-ITAT-TAXSCAN.jpg "Deduction claimed u/s 80C of Income Tax Act cant be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]")
ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that although prima facie, the issue goes in favour of the assessee in view of the various judgements rendered by the Supreme...
![ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-VAT-Remission-Disallowance-assessee-allowabiility-Subsidies-TAXSCAN.jpg "ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]")
Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata has upheld the deduction for expenditure incurred by the appellant, for non-fulfilment of a contractual obligation, deeming it as non-penal and not...
![Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-Fulfilment-of-Contractual-Obligation-Compensation-Paid-Non-Fulfilment-Contractual-Obligation-Infringement-Violation-of-Law-ITAT-upholds-Deduction-ITAT-Deduction-taxscan.jpg "Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]")
Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed deduction of expenditure and held that the income shall be determined on net profit even though the society is not registered...
![Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-shall-be-determined-on-Net-Profit-even-Society-Registered-Income-Tax-Act-ITAT-allows-Deduction-of-Expenditure-TAXSCAN.jpg "Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]")
Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed necessary corrections when the appeal failed in the absence of the name of the assessee in Form 26AS. The representative on...
![Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Appeal-Name-Assesee-Form-26AS-ITAT-Necessary-Corrections-TAXSCAN.jpg "Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]")
Fee for providing Supervisory Service for manufacturing of linear polyethylene under Composite Contract are FTS under UK and India DTAA: ITAT upholds Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata bench held that Fee for providing supervisory services for manufacturing of linear polyethylene under composite contract are Fee For Technical...
![Fee for providing Supervisory Service for manufacturing of linear polyethylene under Composite Contract are FTS under UK and India DTAA: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Fee-for-providing-supervisory-Service-Fee-Supervisory-Service-linear-polyethylene-Composite-Contract-FTS-DTAA-ITAT-upholds-Revision-Order-ITAT-Revision-Order-Taxscan.jpg "Fee for providing Supervisory Service for manufacturing of linear polyethylene under Composite Contract are FTS under UK and India DTAA: ITAT upholds Revision Order [Read Order]")