![Opening Balance of Unsecured Loan cannot be treated as ‘Unexplained’: ITAT deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Opening-Balance-Unsecured-Loan-ITAT-taxscan.jpg "Opening Balance of Unsecured Loan cannot be treated as ‘Unexplained’: ITAT deletes Addition u/s 68 [Read Order]")
Opening Balance of Unsecured Loan cannot be treated as ‘Unexplained’: ITAT deletes Addition u/s 68 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that the opening balance of the unsecured loan cannot be treated as "unexplained" and...
![Relief to Deloitte: Payments made to Deloitte Global Holdings Ltd under Shared Services Agreement are not Taxable as Royalty, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Deloitte-Payments-Deloitte-Global-Holdings-Ltd-Services-Agreement-Taxable-ITAT-taxscan.jpeg "Relief to Deloitte: Payments made to Deloitte Global Holdings Ltd under Shared Services Agreement are not Taxable as Royalty, rules ITAT [Read Order]")
![Domestic Transaction from a Related Party is not a Specified Domestic Transaction u/s 92BA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Specified-Domestic-Transaction-ITAT-taxscan.jpg "Domestic Transaction from a Related Party is not a Specified Domestic Transaction u/s 92BA: ITAT [Read Order]")
![Relief to Reliance Jio Infocomm: CESTAT allows benefit to SFP under Notification 24/2005Cus [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Reliance-Jio-Infocomm-CESTAT-SFP-taxscan.jpg "Relief to Reliance Jio Infocomm: CESTAT allows benefit to SFP under Notification 24/2005Cus [Read Order]")
![Amount paid for Land enhancement is Capital Expenditure, can avail Deduction u/s 48: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/land-enhancement-capital-expenditure-ITAT-taxscan.jpeg "Amount paid for Land enhancement is Capital Expenditure, can avail Deduction u/s 48: ITAT [Read Order]")
![ITAT quashes Scrutiny Assessment order without Proof of Service of Notice u/s 143 (2) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/ITAT-Scrutiny-Assessment-Notice-taxscan.jpeg "ITAT quashes Scrutiny Assessment order without Proof of Service of Notice u/s 143 (2) [Read Order]")
Transfer Pricing benchmarking is based on Functional Profile of Tested Party: ITAT grants interim relief to Sulzer Tech India [Read Order]
The Income Tax Appellate Tribunal(ITAT), Mumbai bench has held that Transfer Pricing benchmarking is based on the functional profile of the tested party and granted interim relief to Sulzer Tech...
![Transfer Pricing benchmarking is based on Functional Profile of Tested Party: ITAT grants interim relief to Sulzer Tech India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Transfer-Pricing-benchmarking-ITAT-Sulzer-Tech-India-taxscan.jpeg "Transfer Pricing benchmarking is based on Functional Profile of Tested Party: ITAT grants interim relief to Sulzer Tech India [Read Order]")
Air India cannot be deemed as 'Assessee in Default' in respect of payment to AIESL: ITAT directs fresh Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that Air India cannot be deemed as 'Assessee in Default' in respect of payment to Air India Engineering Services Ltd (AIESL) and...
![Air India cannot be deemed as Assessee in Default in respect of payment to AIESL: ITAT directs fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Air-India-Assessee-in-Default-payment-AIESL-ITAT-fresh-Adjudication-taxscan.jpeg "Air India cannot be deemed as Assessee in Default in respect of payment to AIESL: ITAT directs fresh Adjudication [Read Order]")
Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that capital gain exemption u/s 54F cannot be denied on grounds of joint ownership in two residential flats. The assessee, Manoj Tekriwal, is...
![Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Capital-gain-exception-joint-ownership-residential-flats-ITAT-taxscan.jpeg "Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]")
Shipping Income derived in India from International Traffic is not Taxable in India as per India-UAE Tax Treaty: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that shipping income derived in India from international traffic is not taxable in India as per India - UAE tax treaty. The...
![Shipping Income derived in India from International Traffic is not Taxable in India as per India-UAE Tax Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Shipping-income-Taxable-IndiaUAE-Tax-Treaty-ITAT-taxscan.jpeg "Shipping Income derived in India from International Traffic is not Taxable in India as per India-UAE Tax Treaty: ITAT [Read Order]")
Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has quashed revision under section 263 and upholds the claim of Mutuality by the Cricket Club of India. The appellant, M/s. Cricket...
![Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cricket-Club-of-India-ITAT-Revision-Mutuality-taxscan.jpg "Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]")
Cost of Improvement and due Indexation benefit on House Property is Deductible while computing Capital Gain: ITAT [Read Order]
The Income Tax Appellate Tribunal(ITAT), Mumbai bench has held that cost of improvement and due indexation benefit on house property is deductible while computing capital gain. The appellant,...
![Cost of Improvement and due Indexation benefit on House Property is Deductible while computing Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cost-House-Property-Capital-Gain-ITAT-taxscan.jpeg "Cost of Improvement and due Indexation benefit on House Property is Deductible while computing Capital Gain: ITAT [Read Order]")