![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]")
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...
![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]](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]")
![Expenses Incurred by PE to be Set Off in Legal Expenses Against Interest Income: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Expenses-Incurred-by-PE-to-be-Set-Off-in-Legal-Expenses-Against-Interest-Income-ITAT-deletes-Disallowance-TAXSCAN.jpg "Expenses Incurred by PE to be Set Off in Legal Expenses Against Interest Income: ITAT deletes Disallowance [Read Order]")
![Disallowed TDS Credit cannot be Added Twice to Income of Assessee as it Amounts to Double Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/credit-income-Disallowance-assessee-ITAT-TDS-Disallowed-TDS-Credit-income-tax-taxscan-1.jpg "Disallowed TDS Credit cannot be Added Twice to Income of Assessee as it Amounts to Double Addition: ITAT [Read Order]")
Default in Proper Communication by CA to NRI Assessee of Income Tax Notices: ITAT Condones Delay of 379 Days [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has directed the Commissioner for de novo adjudication, by condoning the delay of 379 days in filing the appeal due to the default of Charted...
![Default in Proper Communication by CA to NRI Assessee of Income Tax Notices: ITAT Condones Delay of 379 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Default-in-Proper-Communication-CA-to-NRI-Assessee-of-Income-Tax-Notices-ITAT-Condones-Delay-TAXSACN.jpg "Default in Proper Communication by CA to NRI Assessee of Income Tax Notices: ITAT Condones Delay of 379 Days [Read Order]")
Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271(1)(c) of the Income Tax Act 1961 holding that mere acceptance of disallowance could not conclude...
![Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mere-Acceptance-of-Disallowance-Furnishing-of-Inaccurate-Particulars-of-Income-ITAT-Deletes-Penalty-of-Income-Tax-Act-TAXSCAN.jpg "Mere Acceptance of Disallowance cannot Conclude Furnishing of Inaccurate Particulars of Income: ITAT Deletes Penalty u/s. 271(1)(c) of Income Tax Act [Read Order]")
ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the penalty under Section 271(1)(c) of the Income Tax Act, considering the unfair representation of the assessee during...
![ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Penalty-us-2711c-Unfair-Representation-During-Liquidation-Process-TAXSCAN.jpg "ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]")
Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the depreciation to plant and machinery installed for pilot projects which were added to existing blocks. The assessee, Indorama...
![Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Depreciation-Depreciation-Allowable-to-Plant-and-Machinery-Pilot-Project-Pilot-Project-Added-to-Existing-Block-ITAT-taxscan.jpg "Depreciation Allowable to Plant and Machinery Installed for Pilot Project Added to Existing Block: ITATÂ [Read Order]")
ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty under Section 271(1) (c) of the Income Tax Act on the assessee in the absence of concealment or inaccurate particulars...
![ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Deletes-Penalty-Assessee-Absence-of-Concealment-Inaccurate-Particulars-of-Income-Income-Taxscan.jpg "ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]")
Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 56(2)(viia) of the Income Tax Act, 1961 is not applicable in a case where there is a mere...
![Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Sale-Price-Shares-FMV-Invoke-Income-Tax-Act-ITAT-TAXSCAN.jpg "Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]")
Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has quashed an ex-parte order and directed re-adjudication as the assessee did not get an opportunity to represent his case due to non-receipt of...
![Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Non-Receipt-of-Notices-Income-Tax-Portal-ITAT-Ex-Parte-Order-Re-Adjudication-TAXSCAN.jpg "Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]")