ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Bank-Interest-Deduction-P-L-Account-Pre-Operative-Expenses-Disallowance-ITAT-taxscan.jpg "Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]")
Bank Interest not Claimed as Deduction in P & L Account and Showing as Pre-Operative Expenses, No Disallowance u/s 43B: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal has held that no disallowance u/s 43B, since bank interest not claimed as deduction in profit and...
![Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Unverified-share-capital-material-ITAT-taxscan.jpg "Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]")
![Statement recorded u/s 133A has No Evidentiary Value if made by a person who has no connection with Assessees Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Statement-evidentiary-value-assessees-business-ITAT-taxscan.jpeg "Statement recorded u/s 133A has No Evidentiary Value if made by a person who has no connection with Assessees Business: ITAT [Read Order]")
![Payment of Incidental Charges to Arbitration: Professional Fee Bill cannot be rejected based on Narration of Payee, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Payment-Incidental-Charges-Professional-Fee-Bill-Payee-ITAT-Arbitration-Taxscan.jpeg "Payment of Incidental Charges to Arbitration: Professional Fee Bill cannot be rejected based on Narration of Payee, rules ITAT [Read Order]")
![International Transaction should be benchmarked using Custom Valuation Data: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/International-Transaction-benchmarked-Custom-Valuation-Data-ITAT-taxscan.jpeg "International Transaction should be benchmarked using Custom Valuation Data: ITAT [Read Order]")
Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has deleted a penalty order by observing that the assessee cannot be penalized for the failure of keeping an invoice of a small amount of...
![Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Invoice-Agricultural-Sale-Income-Tax-Penalty-ITAT-taxscan.jpeg "Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax Penalty: ITAT [Read Order]")
Non-Filing of Appeal due to Lack of Communication b/w Tax Advisors and Board of Directors not 'Reasonable Cause' to Condone Delay: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri R.S. Syal, Vice President and Shri S.S. Viswanethra Ravi (Judicial Member) has held that the ground for non-filing of appeal...
![Non-Filing of Appeal due to Lack of Communication b/w Tax Advisors and Board of Directors not Reasonable Cause to Condone Delay: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Non-filing-Appeal-Tax-Advisors-Board-of-Directors-Reasonable-Cause-Condone-Delay-ITAT-taxscan.jpeg "Non-Filing of Appeal due to Lack of Communication b/w Tax Advisors and Board of Directors not Reasonable Cause to Condone Delay: ITAT [Read Order]")
Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Ms. Suchitra Kamble, (Judicial Member) and Shri Waseem Ahmed (Accountant Member) has observed that the consideration...
![Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Transfer-of-Marketing-Distribution-Rights-Veterinary-Products-Joint-Venture-ITAT-taxscan.jpeg "Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]")
Reimbursement of Medical expenses incurred by Employees cannot be disallowed by invoking Section 40A(9) of the Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the reimbursement of medical expenses incurred by the employees cannot be disallowed by invoking Section 40A(9) of the Income...
![Reimbursement of Medical expenses incurred by Employees cannot be disallowed by invoking Section 40A(9) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Reimbursement-Medical-expenses-employee-Income-Tax-Act-ITAT-taxscan.jpeg "Reimbursement of Medical expenses incurred by Employees cannot be disallowed by invoking Section 40A(9) of the Income Tax Act: ITAT [Read Order]")
Actor S J Surya shall face Criminal Trial for Non-filing of Income Tax Returns despite Assessments Quashed by ITAT: Madras HC [Read Order]
In a major set back to tollywood actor Mr. S J Surya, the Madras High Court has upheld the criminal charges for non-filing of income tax returns and non-payment of advance tax by observing that the...
![Actor S J Surya shall face Criminal Trial for Non-filing of Income Tax Returns despite Assessments Quashed by ITAT: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Actor-S-J-Surya-face-Criminal-Trial-Non-filing-of-Income-Tax-Returns-Assessments-ITAT-Madras-High-Court-Taxscan.jpeg "Actor S J Surya shall face Criminal Trial for Non-filing of Income Tax Returns despite Assessments Quashed by ITAT: Madras HC [Read Order]")
An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that an unlawful claim for deduction would not amount to “concealment of income” in order to impose a penalty under Section 271(1)(c) of...
![An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Claim-Deduction-Concealment-of-Income-ITAT-Penalty-taxscan.jpg "An Unlawful Claim for Deduction would not amount to ‘Concealment of Income’: ITAT deletes Penalty [Read Order]")
Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the addition cannot be made solely on the basis of failure on the part of the assessee to upload the audit report electronically. ...
![Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Addition-Sole-Ground-Audit-Report-Invalid-ITAT-Adjudication-taxscan.jpg "Addition on Sole Ground of failure to Upload Audit Report Electronically is Invalid: ITAT allows Fresh Adjudication [Read Order]")