![Disallowance of ₹96.71 Lakh Foreign Exchange Loss on Import-Export Transactions Without Hedging: ITAT upholds CIT(A)’s Decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Disallowance-Foreign-Exchange-Loss-Foreign-Exchange-Import-Export-Transactions-ITAT-ITAT-Upholds-CITAs-Decision-CITA-taxscan.jpg "Disallowance of ₹96.71 Lakh Foreign Exchange Loss on Import-Export Transactions Without Hedging: ITAT upholds CIT(A)’s Decision [Read Order]")
Disallowance of ₹96.71 Lakh Foreign Exchange Loss on Import-Export Transactions Without Hedging: ITAT upholds CIT(A)’s Decision [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax Appeals(CIT(A))'s decision on the disallowance of ₹96.71...
![ITAT dismisses Appeal after Assessee Fails to rectify Filing Defects Despite Multiple Notices [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-ITAT-dismisses-appeal-TAXSCAN.jpg "ITAT dismisses Appeal after Assessee Fails to rectify Filing Defects Despite Multiple Notices [Read Order]")
![ITAT Directs TPO to apply LIBOR Rate for Interest on Foreign Currency Receivables [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Bengaluru-Income-Tax-Appellate-Tribunal-LIBOR-Rate-Application-ITAT-Case-TAXSCAN.jpg "ITAT Directs TPO to apply LIBOR Rate for Interest on Foreign Currency Receivables [Read Order]")
![Natural Justice Violated by unfair Deadline: ITAT Remands ₹1.3 Cr Addition case u/s 69C to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Section-250-of-Income-Tax-Act-Income-Tax-Act-taxscan.jpg "Natural Justice Violated by unfair Deadline: ITAT Remands ₹1.3 Cr Addition case u/s 69C to AO [Read Order]")
![Unexplained Cash Credit During Demonetization Period: ITAT upholds CIT(A) Deletion [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Unexplained-Cash-Credit-taxscan.jpg "Unexplained Cash Credit During Demonetization Period: ITAT upholds CIT(A) Deletion [Read Order]")
Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld that an addition made on account of rescission of liability under Section 41(1) of the Income Tax Act 1961 is justified when the...
![Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Chennai-Section-411-of-the-Income-Tax-Act-Retain-Liability-in-Subsequent-FYs-TAXSCAN.jpg "Borrower cannot retain Liability in Subsequent FYs After Lender Writes Off amount in his Accounts: ITAT upholds Addition u/s 41(1) [Read Order]")
Delayed Income Tax Penalty Order u/s 271C for failure to Deduct TDS not Sustainable: Delhi HC [Read Order]
The Delhi High Court recently quashed an Income Tax Appeal filed by the Revenue, ruling that delayed order levying penalty on an Assessee under Section 271C of the Income Tax Act, 1961 for default in...
![Delayed Income Tax Penalty Order u/s 271C for failure to Deduct TDS not Sustainable: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Delhi-HC-Income-Tax-Penalty-Delayed-Income-Tax-Penalty-Order-Income-Tax-Tax-Deducted-at-Source-taxscan.jpg "Delayed Income Tax Penalty Order u/s 271C for failure to Deduct TDS not Sustainable: Delhi HC [Read Order]")
Disallowance u/s 14A of Income Tax Act without examining Accounts of Security Printing &Mining Corporation is invalid: Delhi HC [read Order]
The Delhi High Court observed that disallowance under section 14 A of the Income Tax Act, 1961 without examining accounts of Security Printing and Mining Corporation of India Ltd is...
![Disallowance u/s 14A of Income Tax Act without examining Accounts of Security Printing &Mining Corporation is invalid: Delhi HC [read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-Income-Tax-Act-examining-Accounts-Security-Printing-Mining-Corporation-invalid-Delhi-High-Court-taxscan.jpg "Disallowance u/s 14A of Income Tax Act without examining Accounts of Security Printing &Mining Corporation is invalid: Delhi HC [read Order]")
Granting of License to Developer doesn’t Amount to possession within Meaning of Section 53A of TP Act, S. 2(47)(v) of Income Tax Act not applicable: Bombay HC [Read Order]
The Bombay High Court granting of license to developer doesn’t amount to possession within meaning of section 53 A of Transfer of Property Act (TP) and Section 2(47)(v) of Income Tax Act,1961...
![Granting of License to Developer doesn’t Amount to possession within Meaning of Section 53A of TP Act, S. 2(47)(v) of Income Tax Act not applicable: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Granting-License-to-Developer-Amount-Possession-Meaning-Income-Tax-Act-Bombay-High-Court-taxscan.jpg "Granting of License to Developer doesn’t Amount to possession within Meaning of Section 53A of TP Act, S. 2(47)(v) of Income Tax Act not applicable: Bombay HC [Read Order]")
![CSR Expenses Allowable as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/CSR-Expenses-Allowable-as-Deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "CSR Expenses Allowable as Deduction u/s 80G of Income Tax Act: ITAT [Read Order]")
![Inappropriate Words Not Deleted in Penalty Notice: ITAT quashes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Inappropriate-Words-Deleted-Penalty-Notice-ITAT-TAXSCAN.jpg "Inappropriate Words Not Deleted in Penalty Notice: ITAT quashes Penalty u/s 271(1)(c) [Read Order]")
![Revisional Jurisdiction u/s 263 cannot be Invoked for “Inadequate Enquiry”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Revisional-Jurisdiction-Inadequate-Enquiry-ITAT-TAXSCAN.jpg "Revisional Jurisdiction u/s 263 cannot be Invoked for “Inadequate Enquiry”: ITAT [Read Order]")