![ITAT quashes Addition by AO towards Business Loss on ground of Absence of Speculation Loss of Share Capital Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Addition-AO-Business-Loss-Speculation-Loss-Share-Capital-taxscan.jpg "ITAT quashes Addition by AO towards Business Loss on ground of Absence of Speculation Loss of Share Capital Income [Read Order]")
ITAT quashes Addition by AO towards Business Loss on ground of Absence of Speculation Loss of Share Capital Income [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the addition made by the Assessing Officer (AO) towards the business loss on the...
![Determination of ALP of Professional Fee should not be carried out by AO in a case where reference is not made to TPO: ITAT Deletes Addition towards transfer pricing adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Determination-of-ALP-Professional-Fee-AO-TPO-ITAT-Addition-transfer-pricing-adjustment-taxscan.jpg "Determination of ALP of Professional Fee should not be carried out by AO in a case where reference is not made to TPO: ITAT Deletes Addition towards transfer pricing adjustment [Read Order]")
![Finance cost should be Allowed as a Deduction u/s 36(1)(iii) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Finance-cost-Deduction-Income-Tax-Act-ITAT-income-tax-news-tax-news-taxscan.jpg "Finance cost should be Allowed as a Deduction u/s 36(1)(iii) of Income Tax Act: ITAT [Read Order]")
![Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Foreign-Currency-Expenses-Telecom-charges-Technical-Services-India-included-in-Export-Turnover-Income-Tax-Act-ITAT-Tech-Mahindra-TAXSCAN.jpg "Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]")
![ITAT Deletes Secondary Adjustment for Upfront Discount Payment by Tech Mahindra to Secure Software and IT Services Contract with Non-Resident Venture Partner [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Secondary-Adjustment-Discount-Payment-Tech-Mahindra-Secure-Software-IT-Services-Contract-Non-Resident-Venture-Partner-taxscan.jpg "ITAT Deletes Secondary Adjustment for Upfront Discount Payment by Tech Mahindra to Secure Software and IT Services Contract with Non-Resident Venture Partner [Read Order]")
Failure of Comparable as chosen by DRP, then same Loses Comparability for determining ALP: ITAT rules in favour of Tata Chemicals [Read Orer]
In a major relief to M/s. Tata Chemicals Ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that on failure of comparable as chosen by the Dispute Resolution Panel (DRP), then...
![Failure of Comparable as chosen by DRP, then same Loses Comparability for determining ALP: ITAT rules in favour of Tata Chemicals [Read Orer]](https://www.taxscan.in/wp-content/uploads/2023/11/Failure-Comparable-DRP-Loses-Comparability-determining-ALP-ITAT-Tata-Chemicals-TAXSCAN.jpg "Failure of Comparable as chosen by DRP, then same Loses Comparability for determining ALP: ITAT rules in favour of Tata Chemicals [Read Orer]")
Share Transaction can't be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition under Section 69C of the Income Tax Act, 1961, and held that the share transaction cannot be treated as bogus just by...
![Share Transaction cant be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Share-Transaction-Bogus-Statement-of-Broker-Accommodation-Entries-ITAT-deletes-TAXSCAN.jpg "Share Transaction cant be treated as Bogus just by the Statement of Broker to have provided Accommodation Entries: ITAT deletes Addition u/s 69C [Read Order]")
ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed for verification of sources explained through the settlement before the settlement commission for addition under Section 69 of...
![ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-directs-Verification-Source-Explained-Settlement-Settlement-Commission-Income-Tax-Act-taxscan-1.jpg "ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]")
Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) sustained the addition made by the Assessing Officer for the failure of the assessee to submit the information regarding the cost involved...
![Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-submitting-Information-regarding-Cost-involved-furnishing-flats-ITAT-sustains-Addition-AO-taxscan.jpg "Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]")
![Damage on account of Right to Sue is a Capital Receipt not chargeable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Damage-account-Damage-on-account-of-Right-to-Sue-is-a-Capital-Receipt-Sue-Right-Capital-Receipt-Tax-ITAT-taxscan.jpg "Damage on account of Right to Sue is a Capital Receipt not chargeable to Tax: ITAT [Read Order]")
Rental Income received from Agricultural Land shall be exempt from Tax and be treated as Agricultural Income: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the rental income received from the agricultural land shall be exempt from tax and be treated as agricultural income. The...
![Rental Income received from Agricultural Land shall be exempt from Tax and be treated as Agricultural Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Rental-Income-Rental-Income-received-from-Agricultural-Land-Agricultural-Land-Tax-Agricultural-Income-taxscan.jpg "Rental Income received from Agricultural Land shall be exempt from Tax and be treated as Agricultural Income: ITAT [Read Order]")
![Levy of Penalty u/s 271AAB of Income Tax Act is not Mandatory or Automatic: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Levy-Penalty-Income-Tax-Act-Mandatory-Automatic-ITAT-taxscan.jpg "Levy of Penalty u/s 271AAB of Income Tax Act is not Mandatory or Automatic: ITAT [Read Order]")