![Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-Act-Notice-necessarily-lead-Disallowance-Petty-Expenses-ITAT-taxscan.jpg "Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]")
Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]
In a significant ruling the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that non reply to Section 133(6) of the Income Tax...
![Punitive damages not allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Punitive-damages-Expenditure-ITAT-Punitive-damages-not-allowable-as-Expenditure-taxscan-1.jpg "Punitive damages not allowable as Expenditure: ITAT [Read Order]")
![Corpus Specific Voluntary Contribution is a Capital Receipt and cant be offered to Tax in case of Trust not Registered u/s 12A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Capital-Receipt-ITAT-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "Corpus Specific Voluntary Contribution is a Capital Receipt and cant be offered to Tax in case of Trust not Registered u/s 12A: ITAT [Read Order]")
Deduction u/s 115JB shall be allowed when Farmer and Trade Advances are actually Written off in Books of Account: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction under Section 115JB of the Income Tax Act, 1961 shall be allowed when the farmer and trade advances are actually...
![Deduction u/s 115JB shall be allowed when Farmer and Trade Advances are actually Written off in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Deduction-Farmer-Farmer-and-Trade-Farmer-and-Trade-Advances-Written-off-taxscan.jpg "Deduction u/s 115JB shall be allowed when Farmer and Trade Advances are actually Written off in Books of Account: ITAT [Read Order]")
Unsold flats categorized as Stock in Trade should be assessed as 'Business Income,' not 'Income from House Property: ITAT quashes Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while quashing the revision order, held that unsold flats categorized as stock in trade should be assessed as business income, not income from...
![Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Unsold-flats-Stock-in-Trade-should-be-assessed-as-Business-Income-Income-House-Property-ITAT-Revision-Order-TAXSCAN.jpg "Unsold flats categorized as Stock in Trade should be assessed as Business Income, not Income from House Property: ITAT quashes Revision Order [Read Order]")
Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has quashed the revision order holding that levy of interest under Section 115P of the Income Tax Act, 1961 and Dividend Distribution Tax...
![Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Quashes-Revision-Order-Revision-Order-ITAT-Quashes-ITAT-News-Tax-News-Income-Tax-News-Quashes-Revision-Order-TAXSCAN.jpg "Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]")
Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench during deleting the addition made towards the disallowance of the expenditure held that suspension of airline operations for a particular period...
![Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Suspension-Airline-Operations-Particular-period-losses-amount-Cessation-of-Business-ITAT-disallowance-of-expenditure-taxscan.jpg "Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]")
![Delhi HC Stays Time Barred Notice Issued u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Delhi-High-Court-Delhi-High-Court-Stays-Time-Barred-Notice-Stays-Time-Barred-Notice-Time-Barred-Notice-Notice-Income-Tax-Act-Income-Tax-Tax-News-TAXSCAN.jpg "Delhi HC Stays Time Barred Notice Issued u/s 148 of Income Tax Act [Read Order]")
ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench quashed reassessment framed under section 143(3) of the Income Tax Act, 1961 beyond 4 years in absence of establishing failure on part of...
![ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-ITAT-quashes-reassessment-Income-Tax-Act-failure-assessee-taxscan.jpg "ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]")
Relief to SIL Investments: Delhi HC upholds Deletion of Disallowance u/s 80M of Income Tax Act [Read Order]
The Delhi High Court upheld the deletion of disallowance under Section 80M of the Income Tax Act, 1961 thereby granting relief to SIL Investments Ltd. The respondent/assessee filed its Return of...
![Relief to SIL Investments: Delhi HC upholds Deletion of Disallowance u/s 80M of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-to-SIL-Investments-Delhi-HC-Deletion-Disallowance-80M-Income-Tax-Act-TAXSCAN.jpg "Relief to SIL Investments: Delhi HC upholds Deletion of Disallowance u/s 80M of Income Tax Act [Read Order]")