![ITAT Annual Digest [Part-44]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Tax-tribunal-updates-Income-Tax-Appellate-Tribunal-Annual-tax-review-Latest-ITAT-decisions-TAXSCAN.jpg "ITAT Annual Digest [Part-44]")
ITAT Annual Digest [Part-44]
This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in ITAT upholds Penalty levied u/s 271 of Income Tax Act...
![AO cannot make any estimated Income addition without pointing out specific defects in the Audited Book: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/AO-Income-addition-specific-defects-Audited-Book-ITAT-TAXSCAN.jpg "AO cannot make any estimated Income addition without pointing out specific defects in the Audited Book: ITAT [Read Order]")
![TNMM is Most Appropriate Method in absence of details of independent contracts/functions/ services rendered to different AEs and unrelated parties: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/TNMM-Most-Appropriate-Method-TNMM-is-Most-Appropriate-Method-in-absence-of-details-of-independent-contracts-ITAT-taxscan.jpg "TNMM is Most Appropriate Method in absence of details of independent contracts/functions/ services rendered to different AEs and unrelated parties: ITAT [Read Order]")
![No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-effective-Representation-Authorities-No-effective-Representation-before-lower-Authorities-ITAT-taxscan.jpg "No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]")
![Receipts of Subscription, Professional and Training Services of Software from Indian customers can not be taxed as Royalty/FTS under India-Netherlands DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Receipts-Subscription-Professional-Training-Services-Software-Indian-customers-taxed-Royalty-FTS-DTAA-ITAT-taxscan.jpg "Receipts of Subscription, Professional and Training Services of Software from Indian customers can not be taxed as Royalty/FTS under India-Netherlands DTAA: ITAT [Read Order]")
![Forfeiture of Share Application money is Capital Receipt, not Revenue Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Forfeiture-of-Share-Application-money-Capital-Receipt-not-Revenue-Receipt-ITAT-income-tax-taxscan.jpg "Forfeiture of Share Application money is Capital Receipt, not Revenue Receipt: ITAT [Read Order]")
Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that additional income surrendered during the course of survey proceedings should not be taxed at 60% under Section 115BBE of the...
![Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-income-surrendered-course-Survey-Proceedings-taxed-Income-Tax-ITAT-quashes-Revision-Order-taxscan.jpg "Additional income surrendered during course of Survey Proceedings shall not be taxed at 60% u/s 115BBE of Income Tax Act: ITAT quashes Revision Order [Read Order]")
Salary Income earned by Indian National not Taxable u/s 9(1) of Income Tax Act as well as under Article 15(1) of India Netherlands DTAA in India: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the salary income earned by the Indian National is not taxable under Section 9(1) of the Income Tax Act 1961 as well as under...
![Salary Income earned by Indian National not Taxable u/s 9(1) of Income Tax Act as well as under Article 15(1) of India Netherlands DTAA in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Salary-Income-Salary-Income-Salary-Income-earned-by-Indian-National-not-Taxable-ITAT-taxscan.jpg "Salary Income earned by Indian National not Taxable u/s 9(1) of Income Tax Act as well as under Article 15(1) of India Netherlands DTAA in India: ITAT [Read Order]")
No Addition u/s 41(1) of the Income Tax Act as assessee acknowledged liability and reflected the same in its books of account: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that Addition under Section 41(1) of the Income Tax Act, 1961 should not be invoked since the assessee had acknowledged liability and...
![No Addition u/s 41(1) of the Income Tax Act as assessee acknowledged liability and reflected the same in its books of account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Addition-Addition-Income-Tax-Act-Income-Tax-Act-as-assessee-acknowledged-liability-and-reflected-the-same-in-its-books-of-account-assessee-books-of-account-ITAT-income-tax-taxscan.jpg "No Addition u/s 41(1) of the Income Tax Act as assessee acknowledged liability and reflected the same in its books of account: ITAT [Read Order]")
Unit Linked Insurance Scheme is Not Life Insurance: Redemption of ULIP Taxable as "Capital Gain", rules ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Life being insured by transaction would not alter the basic character of transaction under Section 10(10D). The assessee filed...
![Unit Linked Insurance Scheme is Not Life Insurance: Redemption of ULIP Taxable as Capital Gain, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Insurance-Scheme-Life-Insurance-Redemption-ULIP-Taxable-Capital-Gain-ITAT-TAXSCAN.jpg "Unit Linked Insurance Scheme is Not Life Insurance: Redemption of ULIP Taxable as Capital Gain, rules ITAT [Read Order]")
AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition based on adhoc disallowance out of staff welfare expenses holding that the AO should not resort to adhoc disallowance....
![AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Resort-Adhoc-Disallowance-ITAT-Adhoc-Staff-Welfare-Expenses-TAXSCAN.jpg "AO should not Resort to Adhoc Disallowance: ITAT Deletes Addition based on Adhoc Disallowance out of Staff Welfare Expenses [Read Order]")
Depreciation on Solar Power Plant shall be allowed if Electricity is Generated for captive use of Factory: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the depreciation on Solar Power Plants shall be allowed if electricity is generated for the captive use of the factory. The...
![Depreciation on Solar Power Plant shall be allowed if Electricity is Generated for captive use of Factory: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Depreciation-Solar-Power-Plant-Depreciation-on-Solar-Power-Depreciation-on-Solar-Power-Plant-shall-be-allowed-if-Electricity-is-Generated-for-captive-use-of-Factory-ITAT-taxscan.jpg "Depreciation on Solar Power Plant shall be allowed if Electricity is Generated for captive use of Factory: ITAT [Read Order]")