No Evidence of Cash Receipt: ITAT Deletes Addition of Rs.2.5 Crore due to Lack of Corroborative Proof
The Income Tax Appellate Tribunal (ITAT), Nagpur Bench, has nullified an addition of Rs. 2.5 crore made by tax authorities against Shrigopal...
![Business Losses, Including Irrecoverable Amounts, Allowable u/s 28 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Business-Losses-Irrecoverable-Amounts-Section-28-of-the-Income-Tax-Act-Income-Tax-Act-taxscan-1.jpg "Business Losses, Including Irrecoverable Amounts, Allowable u/s 28 of Income Tax Act: ITAT [Read Order]")
![Relief to Hindustan Times: ITAT rules Currency Loss Due to Fire Write-Off Allowable as Trading Loss u/s 28 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Income-Tax-Trading-Loss-Hindustan-Times-taxscan.jpg "Relief to Hindustan Times: ITAT rules Currency Loss Due to Fire Write-Off Allowable as Trading Loss u/s 28 of Income Tax Act [Read Order]")
![ITAT quashes Assessment Framed in name of Artificial Juridical Person Instead of Local Authority [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-quash-Assessment-Artificial-Juridical-Person-Local-Authority-itat-quashes-assesment-incpme-tax-income-tax-taxscan.jpg "ITAT quashes Assessment Framed in name of Artificial Juridical Person Instead of Local Authority [Read Order]")
Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), held that Hedging transactions to safeguard loss arising out of fluctuation in foreign currency are not speculative in nature. The...
![Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Hedging-Transactions-Safeguard-Loss-Fluctuation-in-Foreign-Currency-Foreign-Currency-Speculative-in-Nature-Income-Tax-ITAT-taxscan.jpg "Hedging Transactions to Safeguard Loss arising out of Fluctuation in Foreign Currency not Speculative in Nature: ITAT [Read Order]")
CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]
The Central Board of Direct Taxes ( CBDT ) has notified the rules relating to the determination of Fair Market Value of inventories converted into capital assets under the Income Tax Act, 2018. The...
![CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/10/Form-26AS-CBDT-Taxscan.jpg "CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]")
CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]
The Central Board of Direct Taxes ( CBDT ) has invited suggestions on the draft notification pertaining to new Rule 11UAB of the Income Tax Rules, 1962. The Finance Act, 2018 has inserted clause...
![CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]](https://www.taxscan.in/wp-content/uploads/2018/05/Business-Income-CBDT-Taxscan.jpg "CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]")
Embezzlement Loss due to Siphoning of Funds of Company by Employees is ‘Business Loss’: ITAT Mumbai [Read Order]
While dismissing a departmental appeal, a division bench of the Mumbai ITAT ruled that the embezzlement loss due to siphoning of funds of assessee-Company by the employees is a business loss allowable...
![Embezzlement Loss due to Siphoning of Funds of Company by Employees is ‘Business Loss’: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Black-Money-Tax-Scan.jpg "Embezzlement Loss due to Siphoning of Funds of Company by Employees is ‘Business Loss’: ITAT Mumbai [Read Order]")