![Addition cant be made towards Disallowance of Bonus as Payment made for Bonus doesnt falls u/s 40A(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Addition-Addition-cant-be-made-towards-Disallowance-Disallowance-Bonus-taxscan.jpg "Addition cant be made towards Disallowance of Bonus as Payment made for Bonus doesnt falls u/s 40A(3) of Income Tax Act: ITAT [Read Order]")
Addition can't be made towards Disallowance of Bonus as Payment made for Bonus doesn't falls u/s 40A(3) of Income Tax Act: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that an addition cannot be made towards disallowance of bonus as payment made for...
![Benefit of Article 8 of India-Singapore DTAA shall be allowed when Vessel Handling Charges were allowed to Tax by Indian Entity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Benefit-India-Singapore-DTAA-Vessel-Handling-Charges-Tax-Indian-Entity-ITAT-TAXSCAN.jpg "Benefit of Article 8 of India-Singapore DTAA shall be allowed when Vessel Handling Charges were allowed to Tax by Indian Entity: ITAT [Read Order]")
![CIT (A) can Enhance any Issue which touched upon by AO in Assessment Order : ITAT upholds Enhancement of Income made u/s 251(2) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/CIT-A-Issue-CIT-A-can-Enhance-any-Issue-which-touched-upon-by-AO-AO-Assessment-Order-ITAT-taxscan.jpg "CIT (A) can Enhance any Issue which touched upon by AO in Assessment Order : ITAT upholds Enhancement of Income made u/s 251(2) of Income Tax Act [Read Order]")
![Deduction Claimed u/s.36(1)(viia) Income Tax Act shall not exceed provision made for Bad and Doubtful Debts in Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Deduction-Income-Tax-Act-provision-Bad-Doubtful-Debts-books-of-accounts-ITAT-TAXSCAN.jpg "Deduction Claimed u/s.36(1)(viia) Income Tax Act shall not exceed provision made for Bad and Doubtful Debts in Books of Accounts: ITAT [Read Order]")
![“Corpus Donations” received by assessee’s Trust will include in total income of Trust, if exemption u/s 11 Income Tax Act denied :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Corpus-Donations-assessees-Trust-total-income-total-income-of-Trust-exemption-Income-Tax-Act-ITAT-taxscan.jpg "“Corpus Donations” received by assessee’s Trust will include in total income of Trust, if exemption u/s 11 Income Tax Act denied :ITAT [Read Order]")
Payments made in Compensatory Nature are not interest u/s 194A of Income Tax Act, for purpose of Deduction of TDS: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the payments made in compensatory nature are not interest under Section 194A of Income Tax Act, 1961 for purpose of deduction...
![Payments made in Compensatory Nature are not interest u/s 194A of Income Tax Act, for purpose of Deduction of TDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Payments-Compensatory-Nature-Income-Tax-Act-Deduction-of-TDS-ITAT-taxscan.jpg "Payments made in Compensatory Nature are not interest u/s 194A of Income Tax Act, for purpose of Deduction of TDS: ITAT [Read Order]")
Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Revenue cannot disallow interest expenditure on the presence of common management and unity of control. The AO on...
![Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Common-Management-Unity-of-Control-ITAT-Revenue-Interest-Expenditure-taxscan.jpg "Presence of Common Management and Unity of Control: ITAT rules Revenue cannot disallow Interest Expenditure [Read Order]")
Appeal against Late Fee U/s 234e of Income Tax Act for Delayed Filing of TDS Returns more than 6 years later: ITAT dismisses Delay Petition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench, while dismissing the petition for condonation for delay, held that the appeal filed by the assessee against late fees under Section 2344E of...
![Appeal against Late Fee U/s 234e of Income Tax Act for Delayed Filing of TDS Returns more than 6 years later: ITAT dismisses Delay Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Appeal-against-late-Income-Tax-Act-delayed-filing-of-TDS-returns-ITAT-delay-petition-TAXSCAN.jpg "Appeal against Late Fee U/s 234e of Income Tax Act for Delayed Filing of TDS Returns more than 6 years later: ITAT dismisses Delay Petition [Read Order]")
Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]
The Chennai Bench of Income tax Appellate Tribunal (ITAT) held that due to no explanation of assessee for allowability of freight expenditure and labour charges, claimed by assessee in closing stock....
![Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-assessee-freight-expenditure-labour-charges-closing-stock-ITAT-taxscan.jpg "Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]")
Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the mere transfer of real estate and construction business is not a case of succession of the firm by a company...
![Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Mere-Transfer-Real-Estate-Construction-Business-Sale-Consideration-Capital-Gains-ITAT-taxscan.jpg "Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]")
![Reopening of Assessment without Valid Jurisdiction: ITAT Dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Reopening-Assessment-Valid-Jurisdiction-ITAT-Revenue-Appeal-TAXSCAN.jpg "Reopening of Assessment without Valid Jurisdiction: ITAT Dismisses Revenue Appeal [Read Order]")
Failure to prove the Interest bearing Funds being used for Investments giving rise to exempt Income: ITAT directs Re-computation of Disallowance under Rule 8D(2)(iii) [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal held that AO will re-compute the disallowance only on the investments giving rise to exempt income and exclude the investments which does not...
![Failure to prove the Interest bearing Funds being used for Investments giving rise to exempt Income: ITAT directs Re-computation of Disallowance under Rule 8D(2)(iii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-prove-interest-bearing-funds-investments-rise-exempt-income-ITAT-directs-re-computation-disallowance-taxscan.jpg "Failure to prove the Interest bearing Funds being used for Investments giving rise to exempt Income: ITAT directs Re-computation of Disallowance under Rule 8D(2)(iii) [Read Order]")