ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-penalty-Income-Tax-penalty-Tax-TDS-DTAA-Taxscan.jpg "Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]")
Income Tax penalty levied u/s 271(1)(C) not attract as TDS already deducted under DTAA: ITAT [Read Order]
Income Tax Appellate Tribunal ( ITAT ) of Chandigarh bench ruled that the penalty under section 271(1)(c) does not attract as the Tax Deduction...
![Interest Paid is allowable u/s 36(1)(iii) of Income Tax Act When Funds are Borrowed for Construction Project: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-paid-Interest-Income-Tax-Act-Income-Tax-Tax-Funds-borrowed-Funds-Construction-Project-Construction-ITAT-taxscan.jpg "Interest Paid is allowable u/s 36(1)(iii) of Income Tax Act When Funds are Borrowed for Construction Project: ITAT [Read Order]")
![Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Depreciation-CBDT-Instruction-CBDT-Books-of-Account-ITAT-taxscan.jpg "Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]")
![Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Income-Income-Interest-Fixed-Deposit-Security-Deposit-Performance-Guarantee-Guarantee-Taxable-Business-Income-Project-Expenses-ITAT-Taxscan.jpg "Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]")
![Provisions of Section 43CA of Income Tax Act can invoke only When Sale Value of Property price lesser than Stamp Value: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Provisions-Income-Tax-Act-Income-Tax-Tax-Sale-Value-Property-price-Sale-Value-of-Property-Stamp-Value-ITAT-Taxscan-.jpg "Provisions of Section 43CA of Income Tax Act can invoke only When Sale Value of Property price lesser than Stamp Value: ITAT [Read Order]")
Claim of Writing Off old dues cannot allow in the Absence of Evidence, old due payable is Taxable: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that claim of writing off old dues cannot allow in the absence of evidence and old due payable are taxable. Shri Nirav...
![Claim of Writing Off old dues cannot allow in the Absence of Evidence, old due payable is Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Claim-writing-off-old-dues-absence-of-evidence-evidence-taxable-ITAT-taxscan.jpg "Claim of Writing Off old dues cannot allow in the Absence of Evidence, old due payable is Taxable: ITAT [Read Order]")
Income derived from Training Fee and related Course Material, not entitled to Deduction u/s.10B: ITAT [Read Order]
In a recent ruling, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the rental income derived from the lease of plant & machinery or equipment is taxable under the...
![Income derived from Training Fee and related Course Material, not entitled to Deduction u/s.10B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/training-fee-Income-course-material-deduction-ITAT-Income-Tax-taxscan.jpg "Income derived from Training Fee and related Course Material, not entitled to Deduction u/s.10B: ITAT [Read Order]")
Unsubstantiated Personal Expenses of Directors not allowable as Business Promotion Expenses: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ), constituted of Anil Chaturvedi (Accountant Member) and Anubhav Sharma (Judicial Member) held unsubstantiated personal expenses of...
![Unsubstantiated Personal Expenses of Directors not allowable as Business Promotion Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Personal-Expenses-Directors-Business-Promotion-Expenses-Business-Promotion-Promotion-Expenses-ITAT-taxscan.jpg "Unsubstantiated Personal Expenses of Directors not allowable as Business Promotion Expenses: ITAT [Read Order]")
![Brokerage not part of Income unless Received: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Brokerage-Income-ITAT-incometax-taxscan.jpg "Brokerage not part of Income unless Received: ITAT deletes Income Tax Addition [Read Order]")
Assessing Officer can't invoke jurisdiction u/s 153C and Seize material belonging to a Third Party before 1-6-2015: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Assessing Officer can't invoke jurisdiction under section 153C of the Income Tax Act,1961 and seize material...
![Assessing Officer cant invoke jurisdiction u/s 153C and Seize material belonging to a Third Party before 1-6-2015: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Assessing-Officer-Seize-material-ITAT-jurisdiction-Income-Tax-taxscan.jpg "Assessing Officer cant invoke jurisdiction u/s 153C and Seize material belonging to a Third Party before 1-6-2015: ITAT [Read Order]")
Genuineness and Creditworthiness of Creditor proven with Bank Statement and Other Evidence, Income Addition u/s 68 not allowable: ITAT
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that income addition under section 68 of the Income Tax Act,1961 is not allowable when the genuineness and Creditworthiness...
Property transferred to Mother for Rs. 5 Lakhs not 'Gift', Taxable as 'Capital Gain': ITAT Orders to Apply S. 50C [Read Order]
The Income Tax Appellate Tribunal (ITAT), Rajkot bench has held that the property transferred in the name of mother for a nominal consideration of Rs. 5 lakhs cannot be treated as a “gift” as the...
![Property transferred to Mother for Rs. 5 Lakhs not Gift, Taxable as Capital Gain: ITAT Orders to Apply S. 50C [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Property-transferred-Mother-for-Rs.-5-Lakhs-Not-Gift-Taxable-Capital-Gain-ITAT-Taxscan.jpg "Property transferred to Mother for Rs. 5 Lakhs not Gift, Taxable as Capital Gain: ITAT Orders to Apply S. 50C [Read Order]")