The salary paid to the employees of the University would not be subject to Tax Deduction at Source ( TDS ) as the university can be deemed as a ‘State’, ruled the Income Tax Appellate

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the running of hospital and nursing school is an inseparable activity for which, the exemption under section 11 of the Income Tax

In M/s. Abad Trust vs. Asst. Director of Income Tax (Exemption), the Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) held that tax cannot be assessed at the hands of the Assessee-Trust and

The Income Tax Appellate Tribunal (ITAT), Cochin, has held that the provision for gratuity made for the benefit of the retired employees can’t be disallowed under Section 43B of the Income Tax Act, 1961. The

The Income Tax Appellate Tribunal ( ITAT ), Cochin bench has held that the Tribunal’s power to rectify the order does not give it the power to review its own order. In the instant case,

The Income Tax Appellate Tribunal ( ITAT ), Cochin bench has held that a debatable issue cannot be treated as a mistake apparent on the face of the record for rectification under Section 154 of

The Income Tax Appellate Tribunal (ITAT), Cochin has held that the assessee by letting out the industrial undertaking is not having any direct connection with the manufacture or production of an article or thing by

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the non-production of the audit report in the prescribed format can be a reason to impose a penalty under Section 271B of

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the imposition of late fees under section 234E of the Income Tax Act of 1961 should not apply to cases where the

The Income Tax Appellate Tribunal ( ITAT ), Cochin Bench, has recently in an appeal filed before it, held that, stamp duty collected from customers shall be treated as trading receipt under 43b(a), and that

The Cochin bench of the Income Tax Appellate Tribunal ( ITAT ) has confirmed the penalty since assessee failed to furnish Audit Report despite CBDT extended due date. The assessee M/s.The Vaikom Palliprethussery Service Cooperative

The Cochin Bench of the Income Tax Appellate Tribunal in the case of M/s Baby Memorial Hospital v. The Assistant Commissioner of Income Tax ruling in favour of the assessee held that Foreign Exchange Loss

The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the Micro Finance Activity cannot be treated as charitable in nature for the purpose of allowing tax exemptions to a Trust under the Income

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the compulsory acquisition of the urban agricultural land is eligible for tax exemption under Section 10(37) of the Income Tax Act, 1961.

In a recent decision, the Cochin bench of the ITAT ruled that the loss incurred on the sale of shares of a wholly-owned subsidiary is allowable as business loss under section 37(1) of the Income Tax