Aparna. M
![No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Completion-of-Construction-ITAT-Construction-Capital-Gain-Exemption-Claim-Income-Tax-taxscan.jpg "No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]")
No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]
The Bangalore Income Tax Appellate Tribunal (ITAT) has recently held that assessees could not claim capital gain exemption under section 54F of...
![Income from Sale of Residential Flats obtained under Joint Development Agreement Taxable as Capital Gain, Not Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-from-Sale-of-Residential-Flats-Sale-of-Residential-Flats-Joint-Development-Agreement-Capital-Gain-Business-Income-Income-ITAT-taxscan.jpg "Income from Sale of Residential Flats obtained under Joint Development Agreement Taxable as Capital Gain, Not Business Income: ITAT [Read Order]")
![Project Implementing Agency making supplies to State Government Department/ Directorate require to issue Tax Invoice: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Project-Implementing-Agency-State-Government-Department-Tax-Invoice-Tax-AAR-Taxscan.jpg "Project Implementing Agency making supplies to State Government Department/ Directorate require to issue Tax Invoice: AAR [Read Order]")
![Lease Rental Income earned from Associated Enterprises Not “Royalty” as per Indo-US DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Rental-Income-Associated-Enterprises-Royalty-Indo-US-DTAA-ITAT-TAXSCAN.jpg "Lease Rental Income earned from Associated Enterprises Not “Royalty” as per Indo-US DTAA: ITAT [Read Order]")
![Defect of Issue of S. 143(2) Notice Prior to Conclusion of Re-Assessment Proceedings Not Curable Invoking S. 292BB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Defect-of-Issue-of-S.-1432-Notice-Re-Assessment-Proceedings-S.-292BB-ITAT-Taxscan.jpg "Defect of Issue of S. 143(2) Notice Prior to Conclusion of Re-Assessment Proceedings Not Curable Invoking S. 292BB: ITAT [Read Order]")
Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that Payment for business support services from foreign companies have no Fee for Technical Services (FTS). Assessee...
![Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Payment-Business-Services-Foreign-Company-Fee-Technical-Services-ITAT-TAXSCAN.jpg "Payment for Business Support Services from Foreign Company not “Fee for Technical Services”: ITAT [Read Order]")
Capital Gain Exemption u/s 54 Not Allowable in respect of Two Independent Residential Units: ITAT [Read Order]
TheChennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that capital gain exemption under section 54 of Income Tax Act 1961 should not be allowed in respect of two independent...
![Capital Gain Exemption u/s 54 Not Allowable in respect of Two Independent Residential Units: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Capital-Gain-Exemption-us-54-Not-Allowable-Two-Independent-Residential-Units-ITAT-Taxscan.jpg "Capital Gain Exemption u/s 54 Not Allowable in respect of Two Independent Residential Units: ITAT [Read Order]")
Co-operative Society Not Eligible to Claim 80P Deduction If Income Tax Return was not filed within Due Date: ITAT [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently held that if income tax return was not filed within due date the co-operative society was not eligible for claiming deduction under...
![Co-operative Society Not Eligible to Claim 80P Deduction If Income Tax Return was not filed within Due Date: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Co-operative-Society-Income-Tax-Return-ITAT-TAXSCAN.jpg "Co-operative Society Not Eligible to Claim 80P Deduction If Income Tax Return was not filed within Due Date: ITAT [Read Order]")
Profits and Gains from Pharmacy Business Incidental to Business of Charitable Trust: ITAT Allows Accumulation at 15% [Read Order]
The Ahmedabad Income Tax appellate tribunal (ITAT) allowed 15 percent accumulation on profits and gains from pharmacy business incidental to business of charitable trust. Assessee Shree...
![Profits and Gains from Pharmacy Business Incidental to Business of Charitable Trust: ITAT Allows Accumulation at 15% [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Profits-and-Gains-Pharmacy-Business-Incidental-Charitable-Trust-Business-of-Charitable-Trust-ITAT-taxscan.jpg "Profits and Gains from Pharmacy Business Incidental to Business of Charitable Trust: ITAT Allows Accumulation at 15% [Read Order]")
Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]
The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) has recently held that no penalty would be levied if the audit report under section 44B of Income Tax Act 1961 was furnished along with...
![Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Audit-Report-ITR-Assessment-ITAT-Penalty-Income-Tax-Act-Income-Tax-Tax-Taxscan.jpg "Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]")
Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]
The Ahmedabad Income Tax Appellate Tribunal (ITAT) has recently held that mere rejection of a claim would not invite levy of penalty under section 271(1)(C) of Income Tax Act, 1961. Section...
![Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Levy-of-Penalty-Penalty-Income-Tax-Act-ITAT-taxscan.jpg "Mere Rejection of A Claim will not Invite Levy of Penalty u/s 271(1)(C) Of Income Tax Act: ITAT [Read Order]")
Share Application Money received in cash by Company does not attract Provisions of S. 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT) recently, while deleting the penalty imposed by the assessing officer, held that share application money received in cash by the company did not attract...
![Share Application Money received in cash by Company does not attract Provisions of S. 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Share-Application-Money-cash-Provisions-of-S.-269SS-Income-Tax-Act-ITAT-Penalty-taxscan.jpg "Share Application Money received in cash by Company does not attract Provisions of S. 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]")