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Shri M. Balaganesh

Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]

Aiswarya Krishnadas

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the profit of business undertaking in proportion of export turnover to total...

Claim as Residential House having no Basic Amenities for Habitation is invalid: ITAT upholds...

ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act, Citing No Inaccurate Income Particulars or...

Relief to Hindustan Times: ITAT allows Expenditure incurred on Paintings, Deeming Essential for...

ITAT allows Deduction claimed u/s 80IA of Act on Account of Profit derived as per Agreement with...

ITAT Annual Digest [Part-28]

This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not...

No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting the Income Tax Addition, held that no investment has been made by the assessee outside the books of account. The assessee, Direct...

ITAT directs readjudication in respect of "Agnihotra" rituals conducted by assessee trust for getting registration u/s 12AA of Income Tax Act [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench, directed a reexamination in respect of activities conducted by the assessee trust to obtain registration under Section 12AA of the Income Tax...

Disallowance u/s 14A of Income Tax Act cannot exceed Exempt Income : ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that disallowance under Section 14A of the Income Tax Act, 1961, could not exceed exempt income. The assessee, Sara International...

ITAT upholds disallowance of ‘commission on sales’ for failure to demonstrate actual role played by Commission Agents in procuring sales [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench upheld the disallowance of commission on sales due to the failure to demonstrate the actual role played by the commission agents in procuring...

Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Dept's Appeal [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that advance payment made for the purchase of land stand establish as the same was through a banking channels and the bank certificate of...

Disallowance u/s 37 can't be made when Details have been furnished by Assessee for Business Promotion Expenditure: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 37 of the Income Tax Act, 1961 cannot be made when the details have been furnished by the assessee...