![Claim of setoff of Unabsorbed Depreciation carried forward from earlier year against Income from Capital Gains shall be permitted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Depreciation-income-tax-news-Capital-Gains-shall-be-permitted-TAXSCAN.jpg "Claim of setoff of Unabsorbed Depreciation carried forward from earlier year against Income from Capital Gains shall be permitted: ITAT [Read Order]")
Claim of setoff of Unabsorbed Depreciation carried forward from earlier year against Income from Capital Gains shall be permitted: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the claim of setoff of unabsorbed depreciation carried forward from earlier...
![Failure of AO to conduct an Independent Investigation: ITAT deletes Addition u/s 68 made on Presumptions and Conjectures [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Failure-of-AO-ITAT-deletes-Addition-Presumptions-and-Conjectures-Income-Tax-Appellate-Tribunal-Assessing-Officer-taxscan.jpg "Failure of AO to conduct an Independent Investigation: ITAT deletes Addition u/s 68 made on Presumptions and Conjectures [Read Order]")
![Co-operative society receives/earns Interest on deposits with Co-operative bank is eligible for claim of Deduction u/s 80(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Co-operative-society-Interest-deposits-Co-operative-bank-claim-of-Deduction-taxscan.jpg "Co-operative society receives/earns Interest on deposits with Co-operative bank is eligible for claim of Deduction u/s 80(2)(d): ITAT [Read Order]")
![Penalty u/s 270A of Income Tax Act cannot be Levied for Bonafide Mistake of Mere change in Head of Income while Computing Total Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Penalty-Income-Tax-Act-Bonafide-Mistake-Mistake-Income-Tax-Act-cannot-be-Levied-for-Bonafide-Mistake-taxscan.jpg "Penalty u/s 270A of Income Tax Act cannot be Levied for Bonafide Mistake of Mere change in Head of Income while Computing Total Income [Read Order]")
![Claim on Cost of Construction shall be in accordance with Supplementary Development Agreement: ITAT deletes Addition of differential Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-Construction-Supplementary-Development-Agreement-ITAT-Cost-TAXSCAN.jpg "Claim on Cost of Construction shall be in accordance with Supplementary Development Agreement: ITAT deletes Addition of differential Cost [Read Order]")
![Penalty u/s 271(1)(c) of Income Tax Act is not Leviable on Estimated Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Penalty-Income-Tax-Act-Estimated-Addition-Addition-ITAT-Taxscan.jpg "Penalty u/s 271(1)(c) of Income Tax Act is not Leviable on Estimated Addition: ITAT [Read Order]")
Revised Return filed within Time Limit u/s 139(5) of Income Tax Act is Valid Return: ITAT Deletes Disallowance of Unamortized Brokerage Expense [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance of unamortized brokerage expense as the revised return filed within the time limit prescribed under Section...
![Revised Return filed within Time Limit u/s 139(5) of Income Tax Act is Valid Return: ITAT Deletes Disallowance of Unamortized Brokerage Expense [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Revised-return-time-limit-valid-return-ITAT-disallowance-unamortized-brokerage-expense-income-tax-act-income-income-tax-tax-taxscan.jpg "Revised Return filed within Time Limit u/s 139(5) of Income Tax Act is Valid Return: ITAT Deletes Disallowance of Unamortized Brokerage Expense [Read Order]")
![ESOP Expenses can be Claimed in the Year of Vesting: ITAT Allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ESOP-expense-vesting-ITAT-Deduction-claim-taxscan.jpg "ESOP Expenses can be Claimed in the Year of Vesting: ITAT Allows Deduction [Read Order]")
No Addition can be made u/s 69A of Income Tax Act if Repaid Loan Transactions Records in Book of Accounts: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that no addition could be made under Section 69A of the Income Tax Act 1961 if repaid loan transactions are recorded in book of...
![No Addition can be made u/s 69A of Income Tax Act if Repaid Loan Transactions Records in Book of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-Income-Tax-Act-Loan-Transactions-Records-in-Book-of-Accounts-Book-of-Accounts-Loan-Transactions-ITAT-Taxscan.jpg "No Addition can be made u/s 69A of Income Tax Act if Repaid Loan Transactions Records in Book of Accounts: ITAT [Read Order]")
Addition made u/s 56(2)(x) of Income Tax Act due to Failure of Disclosure of Income on Bank Account: ITAT Directs Re-adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT) directed re-adjudication for the addition made by the assessing officer under section 56(2)(x) of the Income Tax Act,1961 due to the...
![Addition made u/s 56(2)(x) of Income Tax Act due to Failure of Disclosure of Income on Bank Account: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Re-adjudication-Income-Tax-Act-Failure-of-Disclosure-Income-on-Bank-Account-ITAT-TAXSCAN-1.jpg "Addition made u/s 56(2)(x) of Income Tax Act due to Failure of Disclosure of Income on Bank Account: ITAT Directs Re-adjudication [Read Order]")
Fabrication Charges received from AE for Manufacturing Glass is not FTS under India-Singapore Tax Treaty: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that fabrication charges received from Associate Enterprise (AE) for manufacturing glass is not Fee for Technical...
![Fabrication Charges received from AE for Manufacturing Glass is not FTS under India-Singapore Tax Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Glass-manufacturing-ITAT-Fabrication-Charges-received-from-AE-for-Manufacturing-Glass-TAXSCAN.jpeg "Fabrication Charges received from AE for Manufacturing Glass is not FTS under India-Singapore Tax Treaty: ITAT [Read Order]")
No addition can be made on Sponsorship Contributions received from Friends and Relatives: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made on sponsorship contributions received from friends and relatives. Assessee Bhagyashree...
![No addition can be made on Sponsorship Contributions received from Friends and Relatives: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-addition-can-be-made-Sponsorship-Contributions-received-from-Friends-and-Relatives-ITAT-TAXSCAN.jpg "No addition can be made on Sponsorship Contributions received from Friends and Relatives: ITAT [Read Order]")