![Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Shortage-Principal-in-Lending-Business-Lending-Business-Bad-Debt-ITAT-Taxscan.jpg "Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]")
Shortage towards Principal in Lending Business Allowable as Bad Debt: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, held shortage towards principal in a lending...
![Disputed Income Tax Calculation based on FAQ from CBDT Circular invalid if Specific Provision exists in Act: Bombay HC remands matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/DIncome-Tax-Calculation-FAQ-CBDT-Circular-Bombay-HC-TAXSCAN.jpg "Disputed Income Tax Calculation based on FAQ from CBDT Circular invalid if Specific Provision exists in Act: Bombay HC remands matter [Read Order]")
![Payment to Volunteers for Drug Analysis Supported by Signed Vouchers Allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Payment-Volunteers-Drug-Supported-Vouchers-ITAT-TAXSCAN.jpg "Payment to Volunteers for Drug Analysis Supported by Signed Vouchers Allowable as Expenditure: ITAT [Read Order]")
![Revision Order cannot be based on Mere Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Revision-Order-Mere-Change-ITAT-Taxscan.jpg "Revision Order cannot be based on Mere Change of Opinion: ITAT [Read Order]")
![No “Purchase” If Sale Deed Executed in favor of Assessee to Claim Capital Gain exemption u/s 54/54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-exemption-ITAT-Income-Tax-Income-Tax-Act-Assessee-Purchase-Sale-Deed-taxscan.jpg "No “Purchase” If Sale Deed Executed in favor of Assessee to Claim Capital Gain exemption u/s 54/54F: ITAT [Read Order]")
Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee himself in absence of Valid Notice: Orissa HC [Read Order]
In a major decision the Orissa High Court observed that mere appearance of staff of person in judicial custody should not be taken as appearance by assessee himself in absence of valid notice ...
![Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee himself in absence of Valid Notice: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Appearance-of-staff-Judicial-Custody-Assessee-Notice-Orissa-High-Court-Orissa-HC-taxscan.jpg "Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee himself in absence of Valid Notice: Orissa HC [Read Order]")
Remand back of matter to AO to calculate Disputed Tax and not Fresh Adjudication: Bombay HC quashes action of PCIT [Read Order]
In a recent ruling the Bombay High Court quashed the action of the Principal Commissioner of Income Tax ( PCIT ) as the remand back of the matter to the Assessing Officer (AO) was to calculate...
![Remand back of matter to AO to calculate Disputed Tax and not Fresh Adjudication: Bombay HC quashes action of PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/AO-disputed-tax-fresh-adjudication-Bombay-High-Court-PCIT-Taxscan.jpg "Remand back of matter to AO to calculate Disputed Tax and not Fresh Adjudication: Bombay HC quashes action of PCIT [Read Order]")
![Relief to PWC: ITAT direct Re-Adjudication on Income Tax Penalty Cases [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/PwC-ITAT-Re-Adjudication-Income-Tax-Penalty-TAXSCAN.jpg "Relief to PWC: ITAT direct Re-Adjudication on Income Tax Penalty Cases [Read Order]")
![Interest paid on Customs Duty Deductible u/s 43B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Customs-Duty-Customs-Interest-paid-Interest-Income-Tax-Act-Income-Tax-ITAT-Tax-taxscan.jpg "Interest paid on Customs Duty Deductible u/s 43B of Income Tax Act: ITAT [Read Order]")
Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), observed that initiation of revision jurisdiction on mere conjectures, suspicions and surmises is invalid. The assessment in the...
![Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Revision-Jurisdiction-Conjectures-Suspicions-ITAT-Income-Tax-Tax-Taxscan.jpg "Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]")
![TDS Not Applicable to Trade Discount to Customers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/TDS-Trade-Discount-Discount-Customers-ITAT-taxscan.jpg "TDS Not Applicable to Trade Discount to Customers: ITAT [Read Order]")
Statutory Provisions of S. 244A of Income Tax Act cannot be Altered by CBDT Circular: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that statutory provisions of S. 244A of the Income Tax Act cannot be altered by CBDT circular. ...
![Statutory Provisions of S. 244A of Income Tax Act cannot be Altered by CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Statutory-Provisions-Income-Tax-Act-CBDT-Circular-CBDT-ITAT-Income-Tax-taxscan-.jpg "Statutory Provisions of S. 244A of Income Tax Act cannot be Altered by CBDT Circular: ITAT [Read Order]")