Aiswarya Krishnadas
![Share profit From Partnership Firm exempted u/s 10 (2A) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Share-profit-us-10-2A-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Share profit From Partnership Firm exempted u/s 10 (2A) of Income Tax Act: ITAT [Read Order]")
Share profit From Partnership Firm exempted u/s 10 (2A) of Income Tax Act: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that share profit from partnership firm is exempted under...
![AO cannot Pass Final Assessment Order without Passing Draft as Prescribed u/s 144C (1) of Income Tax Act: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-Pass-Final-Assessment-Order-Prescribed-us-144C-1-of-Income-Tax-Act-ITAT-Order-TAXSCAN.jpg "AO cannot Pass Final Assessment Order without Passing Draft as Prescribed u/s 144C (1) of Income Tax Act: ITAT quashes Order [Read Order]")
![Deemed Rental Income applicable to Self Occupied Properties u/s 23 (4) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Deemed-Rental-Income-Properties-us-23-4-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Deemed Rental Income applicable to Self Occupied Properties u/s 23 (4) of Income Tax Act: ITAT [Read Order]")
![Material /document Uncovered during Search Raises no doubt or suspicion against Taxpayer: ITAT deletes addition u/s 153A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Material-document-Uncovered-Search-Raises-no-doubt-suspicion-Taxpayer-ITAT-taxscan.jpg "Material /document Uncovered during Search Raises no doubt or suspicion against Taxpayer: ITAT deletes addition u/s 153A [Read Order]")
![AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-fails-Sale-Consideration-of-Immovable-Property-Sale-Agreement-Stamp-Duty-Valuation-ITAT-Income-Tax-Act-taxscan.jpg "AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]")
GST Retrospective Cancellation w.e.f. July 1st 2017 Order Issued to Closed Firm: Delhi HC Directs to Cancel from SCN Issuance Date [Read Order]
The Delhi High Court directed to cancel Goods and Service Tax ( GST ) Registration of a closed firm retrospectively with effect from issuance of the Show Cause Notice ( SCN ) and not from the date of...
![GST Retrospective Cancellation w.e.f. July 1st 2017 Order Issued to Closed Firm: Delhi HC Directs to Cancel from SCN Issuance Date [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/GST-Retrospective-Cancellation-Issued-to-Closed-Firm-Delhi-HC-Directs-Cancel-from-SCN-Issuance-Date-taxscan.jpg "GST Retrospective Cancellation w.e.f. July 1st 2017 Order Issued to Closed Firm: Delhi HC Directs to Cancel from SCN Issuance Date [Read Order]")
GST Proper Officer had to Consider Reply on Merits and then Form an opinion: Delhi HC quashes Demand Order [Read Order]
The Delhi High Court, while quashing the Goods and Services Tax ( GST ) demand order stating that the Proper officers must consider reply on merits and form an opinion. The Petitioner impugned...
![GST Proper Officer had to Consider Reply on Merits and then Form an opinion: Delhi HC quashes Demand Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/GST-Proper-Officer-Merits-Delhi-Hc-Demand-Order-TAXSCAN.jpg "GST Proper Officer had to Consider Reply on Merits and then Form an opinion: Delhi HC quashes Demand Order [Read Order]")
Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the waiver of loan for acquiring capital assets cannot be taxed as a perquisite under Section 28 (iv)...
![Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Waiver-of-Loan-TAXSCAN.jpg "Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]")
AO cannot change Valuation Method Opted by Taxpayer: Delhi HC directs AO to determine FMV of Shares Bearing DCF method in Mind [Read Order]
The Delhi High Court Directed the Assessing Officer ( AO ) to determine fair market value ( FMV ) of shares bearing in mind the discounted cash Flow ( DCF ) method, prohibiting AO from Altering...
Deduction u/s 80 IA of Income Tax Act not available only to Persons Executing Works Contract: ITAT rejects Deduction Claim [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) rejected the claim of deduction under Section 80 IAÂ Â of the Income Tax Act, 1961 stating that it is not available to individuals engaged...
![Deduction u/s 80 IA of Income Tax Act not available only to Persons Executing Works Contract: ITAT rejects Deduction Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Deduction-Income-Tax-Act-Works-Contract-ITAT-Deduction-Claim-taxscan.jpg "Deduction u/s 80 IA of Income Tax Act not available only to Persons Executing Works Contract: ITAT rejects Deduction Claim [Read Order]")
Routine establishment Expenses and Interest on Loan taken for General Business Purposes is required to be allowed as Deduction: ITAT sets aside order passed by CIT (A) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) sets aside the order passed by CIT (A), emphasizing that routine establishment expenses and interest on loans taken for general business...
![Routine establishment Expenses and Interest on Loan taken for General Business Purposes is required to be allowed as Deduction: ITAT sets aside order passed by CIT (A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Routine-establishment-Expenses-Interest-on-Loan-General-Business-Purposes-allowed-as-Deduction-ITAT-taxscan.jpg "Routine establishment Expenses and Interest on Loan taken for General Business Purposes is required to be allowed as Deduction: ITAT sets aside order passed by CIT (A) [Read Order]")
Public Advertisement for Issuance of Securities on Private Placement Basis: MCA Slaps Rs. 7 Cr Penalty on Company and Directors
 The Ministry of Corporate Affairs ( MCA ) has imposed a penalty of Rs. 7 crore on the company and its directors following a public advertisement for the issuance of securities on a private placement...
