![Incidence of Tax for Joint Development Agreement is Different from Incidence of Tax for Subsequent Sale of Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Incidence-of-Tax-Joint-Development-Agreement-Different-from-Incidence-of-Tax-for-Subsequent-Sale-of-Flats-ITAT-TAXSCAN.jpg "Incidence of Tax for Joint Development Agreement is Different from Incidence of Tax for Subsequent Sale of Flats: ITAT [Read Order]")
Incidence of Tax for Joint Development Agreement is Different from Incidence of Tax for Subsequent Sale of Flats: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the tax incidence for joint development agreements differs from the tax...
![ITAT Quashes Assessment Under Section 153C of Income Tax Act Due to Lack of Valid Grounds and Corroborative Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Quashes-Assessment-ITAT-Assessment-Income-Tax-Act-Income-Tax-Corroborative-Evidence-Evidence-Taxscan.jpg "ITAT Quashes Assessment Under Section 153C of Income Tax Act Due to Lack of Valid Grounds and Corroborative Evidence [Read Order]")
![ITAT Dismisses Income Tax Dept Appeal for Lack of Valid Approval in Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Dismisses-Income-Tax-Dept-Appeal-ITAT-Income-Tax-Department-Appeal-Lack-of-Valid-Approval-in-Reassessment-Proceedings-Reassessment-Proceedings-Reassessment-Taxscan.jpg "ITAT Dismisses Income Tax Dept Appeal for Lack of Valid Approval in Reassessment Proceedings [Read Order]")
![Income Tax Payable Fully Adjusted Against Refund for Subsequent AY: ITAT Condones Delay of 85 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Re-calculation-of-Refund-Receivable-to-Claim-Interest-on-Refunds-ITAT-Condones-Delay-TAXSCAN.jpg "Income Tax Payable Fully Adjusted Against Refund for Subsequent AY: ITAT Condones Delay of 85 Days [Read Order]")
![Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Compensation-for-Termination-of-Development-Agreement-Allowed-as-Deduction-to-One-Co-Owner-Denied-Co-owner-ITAT-TAXSCAN.jpg "Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]")
No Income Tax Deduction Allowable for Commission Payments Without Examination/Verification of Agreement between Payer and Dealers: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the Assessment Order allowing deduction of commission payments has been passed without verification, which should have been made,...
![No Income Tax Deduction Allowable for Commission Payments Without Examination/Verification of Agreement between Payer and Dealers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Deduction-Income-Tax-Deduction-Commission-Payments-Commission-Examination-Verification-Agreement-between-Payer-and-Dealers-Payer-and-Dealers-ITAT-Taxscan.jpg "No Income Tax Deduction Allowable for Commission Payments Without Examination/Verification of Agreement between Payer and Dealers: ITAT [Read Order]")
Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenditure incurred to avoid adverse effect on reputation and cost of litigation was a valid business exigency deductible...
![Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Expenditure-Incurred-Reputation-and-Cost-of-Litigation-Cost-of-Litigation-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Expenditure Incurred to Avoid Adverse Effects on Reputation and Cost of Litigation is a Valid Business Exigency Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
Revenue Cannot Adjust Withheld Tax not Deposited by Employer in Central Govt account, against Refund Due and Payable to Employee u/s 205 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the revenue could not adjust the withheld tax not deposited by the employer in a central Government account against the refund...
![Revenue Cannot Adjust Withheld Tax not Deposited by Employer in Central Govt account, against Refund Due and Payable to Employee u/s 205 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revenue-Adjust-Withheld-Tax-Deposited-by-Employer-in-Central-Govt-account-Refund-Employee-Income-Tax-Act-ITAT-TAXSCAN.jpg "Revenue Cannot Adjust Withheld Tax not Deposited by Employer in Central Govt account, against Refund Due and Payable to Employee u/s 205 of Income Tax Act: ITAT [Read Order]")
Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted exemption to ICICI Bank as books of accounts prepared under Section 115JB read with Section 211(2) of the Companies Act are not...
![Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Books-of-Accounts-Prepared-Companies-Act-not-Applicable-ITAT-Grants-Exemption-to-ICICI-Bank-TAXSCAN.jpg "Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]")
ITAT Confirms 25% Deduction in DLC Rate on Account of Passing of IOCL Pipeline in Middle Part of Land [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT), confirmed 25% deduction in District Level Committee (DLC) rate on account of passing of the Indian Oil Corporation Limited (IOCL)...
![ITAT Confirms 25% Deduction in DLC Rate on Account of Passing of IOCL Pipeline in Middle Part of Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Confirms-25-Deduction-in-DLC-Rate-ITAT-Deduction-in-DLC-Rate-DLC-Rate-Passing-of-IOCL-Pipeline-in-Middle-Part-of-Land-IOCL-Pipeline-Taxscan.jpg "ITAT Confirms 25% Deduction in DLC Rate on Account of Passing of IOCL Pipeline in Middle Part of Land [Read Order]")
Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]
The High Court of Gujarat has held that diamond testing & certification services provided by the Gemological Institute of America (GIA) USA is covered Under India-USA Double Taxation Avoidance...
![Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Diamond-Testing-Certification-Services-GIA-USA-India-USA-DTAA-Gujarat-HC-Appeal-Income-Tax-Department-TAXSCAN.jpg "Diamond Testing & Certification Services by GIA USA Covered Under India-USA DTAA: Gujarat HC Dismisses Appeal by Income Tax Department [Read Order]")
Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that capital profits, which do not have component of income, are to be excluded while computing Book Profits under section 115JB. ...
![Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Loss-on-sale-of-Investment-Investment-sale-of-Investment-Book-Profits-Capital-Profits-computing-book-profits-ITAT-Taxscan.jpg "Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]")