Aparna. M
![No Penalty u/s 271(1)(c) When Income Tax is Payable based on Book Profit: ITAT Grants Relief to Havells India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Income-Tax-Payable-Book-Profit-ITAT-Havells-India-TAXSCAN.jpg "No Penalty u/s 271(1)(c) When Income Tax is Payable based on Book Profit: ITAT Grants Relief to Havells India [Read Order]")
No Penalty u/s 271(1)(c) When Income Tax is Payable based on Book Profit: ITAT Grants Relief to Havells India [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the penalty under section 271(1)(c) is not attracted when income...
![Mere Non-Production of Original Bills will not make Purchases ‘Bogus’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Non-Production-of-Original-Bills-Bills-Bogus-Purchases-ITAT-taxscan.jpg "Mere Non-Production of Original Bills will not make Purchases ‘Bogus’: ITAT [Read Order]")
![Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-Disallowed-Transaction-Penny-Stock-ITAT-Income-Tax-Taxscan.jpg "Exemption u/s 10(38) cannot be Disallowed when Transaction is Not Declared as Penny Stock: ITAT [Read Order]")
![Final Assessment Order Issued Beyond Period of Limitation u/s 144C of Income Tax Act is Null and Void: ITAT grants Relief to Fiber Home India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Assessment-Order-Assessment-Income-Tax-Act-Income-Tax-ITAT-Fiber-home-India-Taxscan.jpg "Final Assessment Order Issued Beyond Period of Limitation u/s 144C of Income Tax Act is Null and Void: ITAT grants Relief to Fiber Home India [Read Order]")
![Expenses towards Clinical Trials for Promotion and Sales of Cardio Products Allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Expenses-Clinical-Trials-Promotion-Sales-of-Cardio-Products-Sales-Cardio-Products-Expenditure-ITAT-Taxscan.jpg "Expenses towards Clinical Trials for Promotion and Sales of Cardio Products Allowable as Expenditure: ITAT [Read Order]")
![10% TDS Not Applicable on Common Area Maintenance Charges: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/TDS-Common-Area-Maintenance-Charges-ITAT-Taxscan.jpg "10% TDS Not Applicable on Common Area Maintenance Charges: ITAT [Read Order]")
![Complete Absence of Notice cannot be Cured by Invoking S. 292BB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Complete-Absence-of-Notice-Invoking-S.-292BB-of-Income-Tax-Act-ITAT-Taxscan.jpg "Complete Absence of Notice cannot be Cured by Invoking S. 292BB of Income Tax Act: ITAT [Read Order]")
Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT), while deleting orders against Marks and Spencer India recently found that the income tax department derived Arm Length Price (ALP) without...
![Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Tax-Dept-ALP-IT-Rules-ITAT-Marks-Spencer-India-Taxscan.jpg "Income Tax Dept derived ALP without resorting to Method prescribed under IT Rules: ITAT deletes Order against Marks & Spencer India [Read Order]")
Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]
The Bangalore bench of income tax appellate tribunal has recently held that a firm is not taxable for interest on borrowed capital paid to partners when the same is already taxed from partners under...
![Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Taxable-Interest-Capital-paid-Taxed-ITAT-TAXSCAN.jpg "Firm Not Taxable for Interest on Borrowed Capital paid to Partners when the same is Already Taxed from Partners u/s 28(v): ITAT [Read Order]")
Non-Constitution of GST Appellate Tribunal shall not Deprive Assessee’s Statutory Benefit u/s 112(9): Patna HC stays Deposit of Balance Tax Amount
While staying deposit of balance tax amount the High Court of Patna held that non-constitution of Goods and Service Tax appellate tribunal should not deprive assesee’s statutory benefit under section...
“Authorities under the Act are misinformed of their powers and the limits of their jurisdiction”, Kerala HC slams GST Dept for Seizure of Cash w/o Service of SCN
“Authorities under the Act are misinformed of their powers and the limits of their jurisdiction” -Kerala HC The Kerala High Court has recently observed that authorities under the act are...
“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) while deleting the penalty under section 271D of Income Tax Act 1961 held that reasonable cause under section 269SS of Income Tax Act 1961...
![“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Reasonable-Cause-Income-Tax-Act-Income-Tax-Tax-Business-ITAT-Penalty-Taxscan.jpg "“Reasonable Cause” u/s 269SS of Income Tax Act shall be related to Meet Exigency of Business: ITAT deletes Penalty u/s 271D [Read Order]")