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![Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessee-Penalty-ITAT-TAXSCAN.jpg "Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]")
Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271AAB of the Income Tax...
![Addition made on personal belief and imagination by AO: ITAT deletes Addition of Rupees One Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Addition-AO-ITAT-taxscan.jpg "Addition made on personal belief and imagination by AO: ITAT deletes Addition of Rupees One Crore [Read Order]")
![Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/interest-income-Inter-corporate-Deposit-business-income-ITAT-taxscan.jpeg "Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT [Read Order]")
![Payment made to Non-Resident not having PE in India not Royalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Payment-non-resident-royalty-ITAT-taxscan.jpg "Payment made to Non-Resident not having PE in India not Royalty: ITAT [Read Order]")
![Assessing Officer fails to Cross Verify TDS details from Concerned Party: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/AO-TDS-ITAT-taxscan.jpeg "Assessing Officer fails to Cross Verify TDS details from Concerned Party: ITAT deletes Addition [Read Order]")
No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT), has held that no search was conducted on the assessee and upholds the deletion of penalty under section 271AAB on undisclosed income. The...
![No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Assessee-ITAT-Penalty-Undisclosed-Income-taxscan.jpeg "No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]")
Depreciation on Block of Assets: ITAT directs to allow Depreciation in respect of Closed Units/Non-Functional Undertakings [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT), has been directed to allow depreciation in respect of closed units and non-functional undertakings since depreciation is claimed on the...
![Depreciation on Block of Assets: ITAT directs to allow Depreciation in respect of Closed Units/Non-Functional Undertakings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Block-of-Assets-ITAT-Depreciation-taxscan.jpg "Depreciation on Block of Assets: ITAT directs to allow Depreciation in respect of Closed Units/Non-Functional Undertakings [Read Order]")
![No Addition of Interest on Restructure of Working Capital Cash Credit Loan: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-Working-Capital-Cash-Credit-Loan-ITAT-taxscan.jpg "No Addition of Interest on Restructure of Working Capital Cash Credit Loan: ITAT [Read Order]")
![Non-mentioning of Relevant Limb in Penalty Notice is not a Curable Defect: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Penalty-Notice-Relevant-Limb-ITAT-Taxscan.jpg "Non-mentioning of Relevant Limb in Penalty Notice is not a Curable Defect: ITAT [Read Order]")
![Disallowance under section 14A not to be considered while computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-section-14A-Book-Profit-ITAT-Taxscan.jpeg "Disallowance under section 14A not to be considered while computing Book Profit: ITAT [Read Order]")
![A Mistake would not disentitle Assessee from a Lawful Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Mistake-Assessee-Lawful-Expenditure-ITAT-Taxscan.jpg "A Mistake would not disentitle Assessee from a Lawful Expenditure: ITAT [Read Order]")
Relief to Deloitte: ESI & PF Contributions made after Due Date allowable as Deduction, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench, while allowing relief to Deloitte Haskins & Sells, has held thatthe contributions made after the statutory due date shall be allowable as...
![Relief to Deloitte: ESI & PF Contributions made after Due Date allowable as Deduction, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Delhi-Deloitte-ESI-PF-Contributions-Deduction-ITAT-taxscan.jpeg "Relief to Deloitte: ESI & PF Contributions made after Due Date allowable as Deduction, rules ITAT [Read Order]")