ITAT Mumbai held that compensation paid to a real estate developer for closure of agreement is allowable as revenue expenditure when the payment of such compensation is closely related to the business of the assessee.
ITAT Mumbai held that the unabsorbed depreciation which is carried forward from earlier years is permitted to be set off against the short term capital gains.
ITAT Mumbai held that were the co-operative society receives/earns the interest on deposits with the co-operative bank is eligible for claim of deduction under Section 80(2)(d) of the Income Tax Act.
Explore the ITAT Ahmedabad ruling on the disallowance of expenses under Section 43B for Himatnagar Nagrik Sahakari Bank Ltd. Learn about the dispute, the arguments presented, and the decision. Find insights into the assessment order, grounds of appeal, and the National Faceless Appeal Center’s confirmation.
Explore the analysis of the ITAT Delhi order dated 1st November 2023, highlighting that the issuance of Notice u/s 153C under the Income Tax Act is deemed invalid ab-initio when no incriminating documents are found during a search. The article delves into the legal arguments, the interpretation of Section 153C, and the significance of the decision. Read to understand the implications for taxpayers and the criteria for a valid notice.
ITAT Mumbai held that addition u/s. 68 of the Income Tax Act towards unexplained cash credit unsustainable as the addition was made by AO on the basis of presumptions and conjectures and without conducting any independent investigation.
ITAT directs CIT(A) to reconsider issue of Section 234A, 234B and 234C interest after considering the outcome of petition filed by the appellant u/s. 119(20)(b)/119(2)(c) of Income Tax Act before the Chairman, CBDT
In a recent decision by the Income Tax Appellate Tribunal (ITAT) Delhi in the case of Paramjit Gandhi vs. DCIT, the Tribunal addressed the disallowance of long-term capital loss on the sale of shares by the Assessing Officer (AO).
Prabha Anil Gandhi vs. ADIT (ITAT Mumbai): ITAT rules on CPC’s jurisdiction, Section 50C adjustments, and processing under section 143(1).
Explore the ITAT Chennai ruling on DCIT Vs Arumuga Cottspin Pvt. Ltd. for AY 2015-16. Analysis of interest disallowance, sales suppression, and unexplained cash credits
