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ITAT Deletes Disallowance On Setting Off Legal Expenses Against Interest Income For Contesting Arbitral Award

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted that disallowance setting off legal and other expenses against interest income for contesting an arbitral award.The bench of. ....

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AO Can't Sit On The Armchair Of Businessman Assessee To Replace His Business Strategy By His Own Whims And Fancies: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer cannot sit on the armchair of a businessman assessee to replace his business strategy with his own whims. ....

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Gift From Family Members Do Not Require Any Special Occasion: ITAT Deletes Addition

The Indore Bench of the Income Tax Appellate Tribunal (ITAT) has deleted that addition and held that gifts from family members do not require any special occasion.The bench of Vijay Pal Rao (Judicial. ....

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Relationship Between Consultant Doctor And The Hospital Can't Be seen As Employer Employee : ITAT Deletes Addition

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition made towards short deduction of TDS and held that the relationship between a Professional Doctor consultant and the. ....

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NLU-Delhi Is Not Engaged In Business: ITAT Quashes Income Tax Penalty

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the penalty under Section 271B of the Income Tax Act on the grounds that the NLU-Delhi is not engaged in "business" and exists. ....

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