![ITAT quashes Assessment Order against non-existent Entity proven to be Null and Void [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-quashes-assessment-order-non-existent-Income-entity-proven-null-void-taxscan.jpg "ITAT quashes Assessment Order against non-existent Entity proven to be Null and Void [Read Order]")
ITAT quashes Assessment Order against non-existent Entity proven to be Null and Void [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that Assessment order proved to be null and void having not been passed for...
![Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Other-Method-most-appropriate-determining-Arms-length-Price-Royalty-Transaction-ITAT-most-appropriate-method-for-determining-taxscan.jpg "Other Method as per Rule 10AB is most appropriate for determining Arms length Price of Royalty Transaction: ITAT [Read Order]")
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")
![Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-of-Assessment-Approval-of-Joint-Commissioner-is-Invalid-ITAT-TAXSCAN.jpg "Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]")
![Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Provisions-Income-Tax-Act-are-Attracted-Trading-Liability-is-Written-back-ITAT-Deletes-Addition-TAXSCAN.jpg "Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]")
Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest expenditure which had not been claimed in the profit and loss account could not be treated as revenue expense for...
![Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Interest-Expenditure-Expenditure-Profit-ITAT-taxscan.jpg "Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]")
AO cannot Interpolate the Extra Payment for Every Month to Entire 12 Months for Additional Work by Guest Teachers: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the additional holding that the Assessing Officer (AO) could not interpolate the extra payment for every month to the entire 12...
![AO cannot Interpolate the Extra Payment for Every Month to Entire 12 Months for Additional Work by Guest Teachers: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Interpolate-Extra-Payment-Every-Month-Work-Guest-Teachers-ITAT-TAXSCAN.jpg "AO cannot Interpolate the Extra Payment for Every Month to Entire 12 Months for Additional Work by Guest Teachers: ITAT deletes Addition [Read Order]")
Signature in 'Consent Waiver Form' Proves that Trust has No Role in Opening of Overseas Bank Account: ITAT Restores Matter to AO [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that signing of 'consent waiver form' proves its bonafide that trust has no role in opening of overseas bank account, the matter is...
![Signature in Consent Waiver Form Proves that Trust has No Role in Opening of Overseas Bank Account: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Signature-Consent-Waiver-Form-Trust-Overseas-Bank-Account-Bank-Account-ITAT-AO-taxscan.jpg "Signature in Consent Waiver Form Proves that Trust has No Role in Opening of Overseas Bank Account: ITAT Restores Matter to AO [Read Order]")
ITAT Quashes TPO order Passed u/s 92CA(3) of Income Tax Act against Frost & Sullivan on the Ground of Limitation [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has quashed the order passed by Transfer Pricing Officer (TPO) under Section 92CA(3) of the Income Tax Act against Frost and Sullivan on the...
![ITAT Quashes TPO order Passed u/s 92CA(3) of Income Tax Act against Frost & Sullivan on the Ground of Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Quashes-TPO-Passed-Income-Tax-Act-Frost-Sullivan-Ground-of-Limitation-taxscan.jpg "ITAT Quashes TPO order Passed u/s 92CA(3) of Income Tax Act against Frost & Sullivan on the Ground of Limitation [Read Order]")
AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the AO(Assessing Officer) /TPO(Transfer Pricing Officer) is not required to make the adjustment on notional basis when the...
![AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Adjustments-Assessee-Extended-Credits-Period-Non-AE-Charging-Interest-Delayed-Payment-ITAT-taxscan.jpg "AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AEÂ Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]")
Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the proceeds received on the sale of carbon credit is a capital receipts and not business income. The assessee is a company...
![Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Carbon-credit-Business-income-Proceeds-received-on-Sale-of-Carbon-Credit-income-tax-act-taxscan.jpg "Proceeds received on Sale of Carbon Credit is a Capital Receipt and not Business Income: ITAT deletes addition on Income by AO [Read Order]")
ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted and Addition of disallowance under Section 14A of Income Tax Act 1961 while computing book profit under Section 115JB...
![ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-of-DisallowanceIncome-Tax-Act-on-Computation-of-Book-Profit-TAXSCAN.jpg "ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]")