The Income Tax Appellate Tribunal (ITAT) Bangalore, has ruled that unexplained deposit into bank account are taxable as “other income” under section 68 of the Income Tax Act, 1961. The assessee, Karan Sharma had filed

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while deleting the penalty under section 271(1)( c) of the Income Tax Act, ruled that the penalty can not be levied when there is no concealment in

The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that amount invested in purchase of residential house in daughter’s name is eligible for exemption under section 54F of the Income Tax Act, 1961. The assessee,

The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that, that Credit Co-operative Societies are not liable to deduct tax at source from the interest payments made to Associate Members as per sec.194A(3)(v) of the

The Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR-1 and

The Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the purpose of taxation. The assessee, Shree Nirmal Commercial Ltd. was the owner

While deleting the addition, the Income Tax Appellate Tribunal (ITAT) Rajkot Bench has ruled that, Interest Expenses claimed by partners relating to their professional activities are allowed expenses. The assessees, Anilbhai Chunilal Bhayani and Ashwinbhai

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench in relief to Sony Pictures Networks, granted the extension of stay of demand for a further period of 180 days. The appellant, Sony Pictures Networks seeks to

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench in a relief to Sushila Birla Memorial Institute allowed exemption under section 10(23C)(iiiae) of Income Tax Act. The assessee, Sushila Birla Memorial Institute (SBMI) is a Trust,

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appellate authorities. The assessee, M/s. FNF India Private Ltd raised the

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench upheld the order passed by CIT(A) wherein the disallowance of Rs.4,02,837 on account of interest on office loan was confirmed. The assessee United Teleservices Ltd. appealed against

The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed the AO to decide the issue of disallowance of commission expenses based on documentary evidence. The assessee, Kunwar Tuli was engaged in the business of electrical

The Income Tax Appellate Tribunal (ITAT) Allahabad has ruled that donations by a charitable trust to educational activities will not be eligible for exemptions under section 11(1)(a) of the Income Tax Act 1961 if such

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the addition of sum paid to Tata Sons Limited towards subscription paid for Brand Equity and Business Promotion Agreement. During the course of assessment proceedings, the

The Income Tax Appellate Tribunal (ITAT) while quashing the orders passed by tax authorities ruled that the reopening of assessment on account of “change of opinion” is not valid. The assessee, M/s. Rajarathnam’s Jewels has