Why do people prefer IAS over other professions when a Chartered Accountant compares his profession with an IAS's salary?
A recent X ( previously known as Twitter ) dispute was started by a tweet made by a chartered accountant. Despite the CA's higher pay range, he wrote...
![ITAT allows deduction u/s 10AA of Income Tax Act in respect of profits derived by Unit from re-export of goods imported [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-deduction-us-10AA-of-Income-Tax-Act-profits-Unit-from-re-export-of-goods-imported-TAXSCAN.jpg "ITAT allows deduction u/s 10AA of Income Tax Act in respect of profits derived by Unit from re-export of goods imported [Read Order]")
![ITAT Directs readjudication of disallowance of Depreciation claimed on Acquisition of Asset [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-Tax-Act-income-tax-appellete-tribunal-ITAT-delhi-Tax-news-taxscan.jpg "ITAT Directs readjudication of disallowance of Depreciation claimed on Acquisition of Asset [Read Order]")
Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal (ITAT) addition under Section 69A of the Income Tax Act , 1961 cannot be made in respect of monies which are recorded...
![Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-ITAT-decision-bank-statement-monies-ITAT-and-bank-TAXSCAN.jpg "Addition u/s. 69A of Income Tax Act cannot be made in respect of Monies which are recorded in Bank Statement: ITAT [Read Order]")
ITAT allows deduction claimed u/s 54F of Income Tax Act with respect all apartment units received pursuant to JDA [Read Order]
The two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) allowed the deduction claimed under Section 54F of the Income Tax Act, 1961 with respect to all apartment units received...
![ITAT allows deduction claimed u/s 54F of Income Tax Act with respect all apartment units received pursuant to JDA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-bangalore-Joint-Development-Agreement-tax-updates-taxscan.jpg "ITAT allows deduction claimed u/s 54F of Income Tax Act with respect all apartment units received pursuant to JDA [Read Order]")
No addition warranted u/s 56(2)(viib) of Income Tax Act as difference between issue Price and Value Adopt by AO is Minuscule [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) held that no addition warranted under Section 56(2)(viib) of the Income Tax Act, 1961 as difference between issue price and value...
![No addition warranted u/s 56(2)(viib) of Income Tax Act as difference between issue Price and Value Adopt by AO is Minuscule [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Delhi-Income-Tax-Act-Assessing-officer-tax-updates-taxscan.jpg "No addition warranted u/s 56(2)(viib) of Income Tax Act as difference between issue Price and Value Adopt by AO is Minuscule [Read Order]")
Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]
The two member bench of Pune Income Tax Appellate Tribunal ( ITAT ) canceled the application of registration filed under Section 12A of the Income Tax Act, 1961 after observing that the income...
![Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-commercial-business-activities-leasing-of-building-TAXSCAN.jpg "Income earned from Leasing of Trust Building Is Commercial Business Activity: ITAT upholds Cancellation of Registration [Read Order]")
Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) directed readjudication after finding that the lower authority failed to examine the ownership and leasehold rights of property...
![Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-Failure-to-examine-property-Leasehold-rights-TAXSACN.jpg "Failure to examine Ownership and Leasehold Right of Property Sold on behalf of assessee: ITAT directs Readjudication [Read Order]")
Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) held that the receipt of Interconnect Utility Charges ( IUC ) charges cannot be taxed as Royalty under Article 12 India-...
![Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-India-Japan-DTAA-Article-12-of-India-Japan-DTAA-income-tax-updates-taxscan.jpg "Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]")
Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]
The Two member bench of Pune Income Tax Appellate Tribunal ( ITAT ) held that constructing and maintaining houses, housing colonies for the low income group people are not charitable purposes...
![Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-acts-Housing-for-low-income-groups-come-of-small-house-TAXSCAN.jpg "Construction Of Houses, Housing Colonies for low-income groups not Charitable Activity u/s 2(15) of Income Tax Act: ITAT [Read Order]")