![Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Credit-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-taxscan.jpg "Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
'Purchase on Credit' included within the Meaning of 'Unexplained Cash Credit' u/s 68 of Income Tax Act: ITAT [Read Order]
While allowing a departmental appeal, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the term “purchase on credit” shall...
![Capital Gain cant be Taxed when actual possession of Property is not Transferred as per the Agreement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Capital-gain-possession-of-the-property-agreement-ITAT-taxscan.jpg "Capital Gain cant be Taxed when actual possession of Property is not Transferred as per the Agreement: ITAT [Read Order]")
![Conditions to grant Registration of Charitable Trust cant go beyond the Scheme of Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/registration-charitable-trust-ITAT-taxscan.jpg "Conditions to grant Registration of Charitable Trust cant go beyond the Scheme of Law: ITAT [Read Order]")
![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]")
![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]")
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]")
No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that branch and head office forms part of the same legal entity and can’t be taxed on interest paid by PE to General Enterprises. ...
![No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/No-Income-Tax-PE-General-Enterprises-Branch-Head-Offices-Legal-Entity-ITAT-taxscan.jpg "No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]")
ITAT directs Fresh Adjudication on Disallowance of Foreign Exchange Loss in respect of Buyer’s Credit payable by Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai directed fresh adjudication on the disallowance of foreign exchange loss in respect of the buyer’s credit payable by the assessee. The assessee, K....
![ITAT directs Fresh Adjudication on Disallowance of Foreign Exchange Loss in respect of Buyer’s Credit payable by Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-adjudication-foreign-exchange-loss-buyers-credit-assessee-taxscan.jpg "ITAT directs Fresh Adjudication on Disallowance of Foreign Exchange Loss in respect of Buyer’s Credit payable by Assessee [Read Order]")
Re-Assessment cannot be made without Fresh Information regarding Escapement of Income: ITAT [Read Order]
Re-Assessment cannot be made without fresh information regarding Escapement of Income so was held by Income Tax Appellate Tribunal (ITAT), Mumbai. The assessee, Bombay Real Estate Development Co....
![Re-Assessment cannot be made without Fresh Information regarding Escapement of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Re-Assessment-Fresh-Information-Income-ITAT-taxscan.jpg "Re-Assessment cannot be made without Fresh Information regarding Escapement of Income: ITAT [Read Order]")
Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]
The assessee, Rahul M. Vadodariya, preferred an appeal before the Income Tax Appellate Tribunal (ITAT), Ahmedabad against the order of the Commissioner of Income Tax (CIT) passed for the assessment...
![Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Appeal-Employee-ITAT-adjudication-taxscan.jpg "Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]")
Revisional Jurisdiction cannot be invoked merely because Assessment Order was without Reasons: ITAT [Read Order]
The Income Tax Appellate Tribunal, Mumbai bench, while granting relief to M/s Reliance Payment Solutions Pvt Ltd, held that the revisional jurisdiction under section 263 of the Income Tax Act, 1961...
![Revisional Jurisdiction cannot be invoked merely because Assessment Order was without Reasons: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Revisional-Jurisdiction-Assessment-Order-Reasons-ITAT-Assessment-jurisdiction-Taxscan.jpg "Revisional Jurisdiction cannot be invoked merely because Assessment Order was without Reasons: ITAT [Read Order]")
![Date of Possession shall be considered to allow Capital Gain Exemption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Date-of-Possession-Capital-Gain-Exemption-capital-gain-Exemption-ITAT-Taxscan.jpg "Date of Possession shall be considered to allow Capital Gain Exemption: ITAT [Read Order]")