![ITAT Annual Digest 2023 [Part-12]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-cases-2023-Annual-tax-analysis-Income-tax-appeals-ITAT-ITAT-decisions-2023-ITAT-Annual-Digest-Annual-Digest-2023-taxscan.jpg "ITAT Annual Digest 2023 [Part-12]")
ITAT Annual Digest 2023 [Part-12]
This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in Travelport LP vs Dy. C.I.T CITATION: 2023 TAXSCAN (ITAT)...
![No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Addition-AIR-information-Profit-booked-offered-to-Tax-ITAT-TAXSCAN.jpg "No Addition shall be made on basis of AIR information when Profit has already been booked by Another and offered to Tax: ITAT [Read Order]")
![Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Relief-to-Jaypee-Cement-ITAT-deletes-Penalty-imposed-for-Misreported-Income-due-to-mistake-of-Tax-Auditor-TAXSCAN.jpg "Relief to Jaypee Cement: ITAT deletes Penalty of Rs.132 Cr. imposed for Misreported Income due to mistake of Tax Auditor [Read Order]")
![No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Penalty-Income-tax-Act-Imposed-Assessee-Sufficiently-Bonafides-Losses-Claimed-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]")
Receipts for Advisory Services Not Taxable Unless they Result in Transfer of Technical Knowledge u/a 13(4) of India-UK DTAA: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that receipts for advisory services are not taxable as Fees for Technical Services (FTS) unless they result in the transfer of...
![Receipts for Advisory Services Not Taxable Unless they Result in Transfer of Technical Knowledge u/a 13(4) of India-UK DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Receipts-Receipts-for-Advisory-Services-Advisory-Services-Receipts-for-Advisory-Services-Not-Taxable-Unless-they-Result-in-Transfer-of-Technical-Knowledge-taxscan.jpg "Receipts for Advisory Services Not Taxable Unless they Result in Transfer of Technical Knowledge u/a 13(4) of India-UK DTAA: ITAT [Read Order]")
Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has partly upheld the appeal of Kartakeya Enterprises, a partnership firm, for the assessment year 2015-16. The ITAT found that the...
![Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Claim-Claim-of-Expense-Claim-of-Expense-Towards-Petrol-Claim-of-Expense-Towards-Petrol-and-Maintenance-of-Car-taxscan.jpg "Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]")
Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that business service charges paid to associate concern for providing Human Resource (HR) related services should not be...
![Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Business-Service-Charges-Associate-Concern-HR-services-disallow-ITAT-taxscan.jpg "Business Service Charges paid to Associate Concern for providing HR related Services shall not be disallowed :ITAT [Read Order]")
Cost of Goods Cannot be Included in Denominator of PLI while Computing Net Profit Margin u/s 10(B)(1)(e) of Income Tax Act: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the cost of goods cannot be included in the part of Profit Level Indicator (PLI) while computing the net profit margin under...
![Cost of Goods Cannot be Included in Denominator of PLI while Computing Net Profit Margin u/s 10(B)(1)(e) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Factory-Gate-Place-of-Removal-Cost-of-Transportation-Transportation-Price-of-Goods-Assessable-Value-CESTAT-excise-customs-service-tax-Taxscan.jpg "Cost of Goods Cannot be Included in Denominator of PLI while Computing Net Profit Margin u/s 10(B)(1)(e) of Income Tax Act: ITAT [Read Order]")
Transfer of Title in Respect of Immovable Property takes place Only through a Registered Sale Deed: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the transfer of title in respect of immovable property takes place only through a registered sale deed. Grow More...
![Transfer of Title in Respect of Immovable Property takes place Only through a Registered Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Transfer-of-Title-in-Respect-of-Immovable-Property-takes-place-Only-through-a-Registered-Sale-Deed-ITAT-TAXSCAN.jpg "Transfer of Title in Respect of Immovable Property takes place Only through a Registered Sale Deed: ITAT [Read Order]")
Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the unsecured loan availed by the assessee cannot be treated as unexplained cash credit under Section 68 of the Income Tax Act,1961...
![Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Unsecured-Loan-Availed-not-to-be-Treated-as-Unexplained-Cash-Credits-Income-Tax-Act-ITAT-TAXSCAN-1.jpg "Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]")