![Transaction Between 2 Companies Cannot come u/s 269SS on Amalgamation: ITAT Deletes Penalty u/s 271E [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Transaction-Between-2-Companies-Transaction-2-Companies-Amalgamation-ITAT-Deletes-Penalty-taxscan-Income-tax-itat-.jpg "Transaction Between 2 Companies Cannot come u/s 269SS on Amalgamation: ITAT Deletes Penalty u/s 271E [Read Order]")
Transaction Between 2 Companies Cannot come u/s 269SS on Amalgamation: ITAT Deletes Penalty u/s 271E [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271E of the Income Tax Act 1961 holding that the...
![Addition u/s 68 not valid when assessee proves identity, Creditworthiness and Genuineness of Share Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Addition-Creditworthiness-Genuineness-of-Share-Transaction-Share-Transaction-Share-Transaction-ITAT-Income-Tax-Tax-Taxscan.jpg "Addition u/s 68 not valid when assessee proves identity, Creditworthiness and Genuineness of Share Transaction: ITAT [Read Order]")
![Transaction has to be Proven Beyond Reasonable Doubt to Claim ITC u/s 70 of KVAT Act: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/03/Transaction-Claim-ITC-Claim-ITC-KVAT-Act-Supreme-Court-Taxscan.jpg "Transaction has to be Proven Beyond Reasonable Doubt to Claim ITC u/s 70 of KVAT Act: Supreme Court [Read Judgement]")
![Transaction of Transfer of Business by Merger of Two Registration comes under the ambit of ‘Supply of Services’: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Transaction-transfer-of-business-registration-Supply-of-Services-AAR-Taxscan.jpg "Transaction of Transfer of Business by Merger of Two Registration comes under the ambit of ‘Supply of Services’: AAR [Read Order]")
![Receipt of Money through Banking Channel would not Make Transaction Genuine If Transaction is Not Explained with Documents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Receipt-of-Money-Banking-Channel-Transaction-Documents-ITAT-Taxscan.jpg "Receipt of Money through Banking Channel would not Make Transaction Genuine If Transaction is Not Explained with Documents: ITAT [Read Order]")
Transaction cannot be Suspected because Cancellation GST Registration of Other End Dealer with Retrospective Effect: Calcutta HC [Read Order]
A two-judge bench of the Calcutta High Court has held that the transaction cannot be suspected merely on ground that the GST registration of the other-end dealer was cancelled with retrospective...
![Transaction cannot be Suspected because Cancellation GST Registration of Other End Dealer with Retrospective Effect: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Transaction-GST-Registration-Cancellation-GST-Registration-Retrospective-Effect-Calcutta-High-Court-Other-End-Dealer-taxscan.jpg "Transaction cannot be Suspected because Cancellation GST Registration of Other End Dealer with Retrospective Effect: Calcutta HC [Read Order]")
Rejection of Evidence on Payment of Transaction without verifying is invalid, duty not demandable: CESTAT rules in favour of Nayara [Read Order]
As a relief to Nayara Energy Limited, the Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) observed that the rejection of Evidence on payment of transaction...
![Rejection of Evidence on Payment of Transaction without verifying is invalid, duty not demandable: CESTAT rules in favour of Nayara [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Evidence-on-Payment-of-Transaction-verifying-is-invalid-duty-demandable-CESTAT-Nayara-TAXSCAN.jpg "Rejection of Evidence on Payment of Transaction without verifying is invalid, duty not demandable: CESTAT rules in favour of Nayara [Read Order]")
Failure to Prove Creditworthiness of Concerns Involved or genuineness of Transaction: ITAT upholds Income Tax Addition on Share Application Money [Read Order]
The Income Tax Appellate Tribunal(ITAT), Mumbai Bench, has recently in an appeal filed before it, held that addition can be made in respect of share application money, upon the failure of the assesse...
![Failure to Prove Creditworthiness of Concerns Involved or genuineness of Transaction: ITAT upholds Income Tax Addition on Share Application Money [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Creditworthiness-Concerns-Involved-genuineness-Transaction-Income-Tax-Share-Application-Money-TAXSCAN.jpg "Failure to Prove Creditworthiness of Concerns Involved or genuineness of Transaction: ITAT upholds Income Tax Addition on Share Application Money [Read Order]")
No Change in Ownership and Character of Transaction made in Individual Capacity by making entries in accounts of Partnership Firm: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that no change in ownership and character of transaction made in individual capacity by making entries in accounts of partnership firm. ...
![No Change in Ownership and Character of Transaction made in Individual Capacity by making entries in accounts of Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Transaction-accounts-Partnership-Firm-ITAT-taxscan.jpg "No Change in Ownership and Character of Transaction made in Individual Capacity by making entries in accounts of Partnership Firm: ITAT [Read Order]")
Statement of Reportable Account u/s 285BA(1) does not amount to Transaction: Delhi HC sets aside Notice to Assessee [Read Order]
A Division Bench of the Delhi High Court has set aside the notice issued under Section 148A(b) of the Income Tax Act, 1961, to the petitioner-assessee, Ambika Kapur in which an impugned addition of...
![Statement of Reportable Account u/s 285BA(1) does not amount to Transaction: Delhi HC sets aside Notice to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reportable-Account-Transaction-Delhi-HC-Notice-Assesee-taxscan.jpg "Statement of Reportable Account u/s 285BA(1) does not amount to Transaction: Delhi HC sets aside Notice to Assessee [Read Order]")
Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the addition of unexplained cash credit does not sustain when the creditworthiness and genuineness of the transaction are...
![Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/cash-credit-transaction-ITAT-taxscan.jpg "Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]")
Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi held that addition u/s 68 of Income Tax Act 1961 will not sustain in the presence of evidence which proves the authenticity of the transaction. ...
![Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Addition-evidence-authenticity-of-transaction-ITAT-Taxscan.jpg "Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of Transaction: ITAT [Read Order]")