ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Premium Expenses on FCCB is Revenue Expenditure, Deductible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Premium-Expenses-Premium-FCCB-Revenue-Expenditure-Deductible-ITAT-Income-Tax-Tax-taxscan.jpg "Premium Expenses on FCCB is Revenue Expenditure, Deductible: ITAT [Read Order]")
Premium Expenses on FCCB is Revenue Expenditure, Deductible: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench held that Premium Expenses on Foreign Currency Convertible Bonds ( FCCB ) is Revenue...
![Distribution Revenue received by CNN Not “Royalty”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Distribution-Revenue-Revenue-received-CNN-Royalty-ITAT-Income-Tax-Tax-taxscan.jpg "Distribution Revenue received by CNN Not “Royalty”: ITAT [Read Order]")
![Reimbursement of Social Security, Insurance, Relocation Expenses for Employees Not FTS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Reimbursement-Social-Security-Insurance-Relocation-Expenses-Employees-FTS-ITAT-Income-Tax-Income-Tax-Tax-taxscan.jpg "Reimbursement of Social Security, Insurance, Relocation Expenses for Employees Not FTS: ITAT [Read Order]")
![Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Notice-Penalty-Notice-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]")
![Mere Claim of Interest of Housing Loan in ITR by Son of Assessee Would Not Absolve Capital Gain Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Claim-Interest-of-Housing-Loan-Housing-Loan-Loan-ITR-Capital-Gain-Tax-Liability-Tax-Income-tax-taxscan.jpg "Mere Claim of Interest of Housing Loan in ITR by Son of Assessee Would Not Absolve Capital Gain Tax Liability: ITAT [Read Order]")
Revisional Jurisdiction cannot be invoked If AO took Plausible View after making Proper Inquiry: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the revisional jurisdiction could not be invoked if the Assessing Officer (AO) had taken a plausible view after making proper...
![Revisional Jurisdiction cannot be invoked If AO took Plausible View after making Proper Inquiry: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Revisional-Jurisdiction-Proper-Inquiry-Inquiry-ITAT-Income-Tax-Tax-taxscan.jpg "Revisional Jurisdiction cannot be invoked If AO took Plausible View after making Proper Inquiry: ITAT [Read Order]")
Relief to Spicejet: Payment for Leasing/Hiring Equipment Not Royalty as per India-Netherlands DTAA, rules ITAT [Read Order]
Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Spicejet. The tribunal upheld the decision of CIT(A) on instructing the Assessing Officer (AO) to verify whether the amount...
![Relief to Spicejet: Payment for Leasing/Hiring Equipment Not Royalty as per India-Netherlands DTAA, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Spicejet-Payment-Hiring-Hiring-Equipment-Royalty-DTAA-ITAT-Income-Tax-Tax-taxscan.jpg "Relief to Spicejet: Payment for Leasing/Hiring Equipment Not Royalty as per India-Netherlands DTAA, rules ITAT [Read Order]")
![ITAT deletes Income Tax Penalty against Trip Advisor [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Income-Tax-Penalty-Income-Tax-Tax-Trip-Advisor-taxscan.jpg "ITAT deletes Income Tax Penalty against Trip Advisor [Read Order]")
Inaction of AO in Disposing Adjournment Petition: ITAT Deletes Penalty for Non-Compliance with Notice u/s 142(1) [Read Order]
Pune bench of Income Tax Appellate Tribunal ( ITAT ) chaired by Viswanethra Ravi (Judicial Member) and Inturi Rama Rao (Accountant Member) deleted the penalty for non-compliance with the notice...
![Inaction of AO in Disposing Adjournment Petition: ITAT Deletes Penalty for Non-Compliance with Notice u/s 142(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Adjournment-Petition-Petition-ITAT-Penalty-Notice-taxscan-1.jpg "Inaction of AO in Disposing Adjournment Petition: ITAT Deletes Penalty for Non-Compliance with Notice u/s 142(1) [Read Order]")
Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the gifts to business associates and expenditure should be considered as business promotion expenses and are deductible...
![Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Gifts-Business-Associates-Business-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan-1.jpg "Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]
Income Tax Appellate Tribunal ( ITAT ) Pune Bench ruled that the premium paid by the company towards the Life Insurance Policy of the Director in individual capacity is not Business Expenditure. ...
![Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Premium-paid-Premium-Life-Insurance-Policy-Life-Insurance-Business-Expenditure-ITAT-Income-Tax-Tax-taxscan.jpg "Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]")
![Addition has No Connection with Escaped Income: ITAT deletes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Escaped-Income-Income-ITAT-Re-Assessment-Income-Tax-Tax-taxscan.jpg "Addition has No Connection with Escaped Income: ITAT deletes Re-Assessment [Read Order]")