Fathima Karama A.M
NRIs and PMLA Compliance Requirements: What You must Know about Reporting Transaction Details
According to data from the United Nations, there are 272 million international migrants in the world, and 6.4% of them are Indian. NRIs (Non-Resident...
![Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-Cash-Book-Subsequent-to-Survey-ITAT-Expenses-Recorded-in-Cash-Book-Expenses-Cash-Book-taxscan.jpg "Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]")
![Employees of Ajmer Vidhyut Vitran Nigam are not State or Central Government Employees: ITAT denies Exemption u/s 10(10AA) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Employees-of-Ajmer-Vidhyut-Vitran-Nigam-Central-Government-Employees-ITAT-denies-Exemption-ITAT-IT-Act-taxscan.jpg "Employees of Ajmer Vidhyut Vitran Nigam are not State or Central Government Employees: ITAT denies Exemption u/s 10(10AA) of IT Act [Read Order]")
![Interest Income from Investment in Cooperative Banks by Cooperative Societies Eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-from-Investment-Interest-Income-Cooperative-Banks-Cooperative-Societies-Deduction-ITAT-Cooperative-Societies-Eligible-for-Deduction-taxscan.jpg "Interest Income from Investment in Cooperative Banks by Cooperative Societies Eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]")
![No Explanation as to Source of Credit Card Payment: ITAT upholds Addition u/s 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Source-of-Credit-Card-Payment-ITAT-upholds-Addition-ITAT-Credit-Card-Payment-Income-Tax-Act-Income-Tax-taxscan-.jpg "No Explanation as to Source of Credit Card Payment: ITAT upholds Addition u/s 69C of Income Tax Act [Read Order]")
Notice Issued Within Limitation Period Specified u/s 149(1)(c): ITAT Upholds Reassessment [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the reassessment order as the notice was issued within the limitation period specified under Section 149(1)(c) of the Income Tax...
![Notice Issued Within Limitation Period Specified u/s 149(1)(c): ITAT Upholds Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Notice-ITAT-Reassessment-ITAT-Upholds-Reassessment-taxscan.jpg "Notice Issued Within Limitation Period Specified u/s 149(1)(c): ITAT Upholds Reassessment [Read Order]")
Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the re-computation of capital gain as the stamp duty was valued as full value of the consideration by invoking the provisions...
![Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Stamp-Duty-Value-of-Consideration-Consideration-ITAT-Re-Computation-of-Capital-Gains-Capital-Gains-taxscan.jpg "Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]")
Price paid by Sugar Cooperatives for Purchase of Sugar Cane Higher than FRP Allowable under Recent Amendment u/s 155(19):ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that price paid by sugar cooperatives for the purchase of sugar cane higher than the fair and remunerative price (FRP) would be...
![Price paid by Sugar Cooperatives for Purchase of Sugar Cane Higher than FRP Allowable under Recent Amendment u/s 155(19):ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Price-paid-by-Sugar-Cooperatives-Purchase-of-Sugar-Cane-FRP-Sugar-Cane-Recent-Amendment-Sugar-Cooperatives-ITAT-taxscan.jpg "Price paid by Sugar Cooperatives for Purchase of Sugar Cane Higher than FRP Allowable under Recent Amendment u/s 155(19):ITAT [Read Order]")
Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred for gifts to customers by company during festivals would be allowable under Section 37 of the Income Tax...
![Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-Incurred-for-Gifts-to-Customers-Company-during-Festivals-Allowable-us-37-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT [Read Order]")
![Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Reopening-Done-without-Application-of-Mind-based-on-Misunderstood-Facts-not-Valid-Reopening-Done-without-Application-of-Mind-Reopening-ITAT-Taxscan.jpg "Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]")
Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that income arising from land could not be treated as capital asset once the nature of the land sold had established as agricultural...
![Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Arising-from-Sold-Land-Established-Agricultural-Land-Treated-as-Capital-Asset-ITAT-TAXSCAN.jpg "Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]")
Delayed Deposit of Employees Contribution to PF and ESI cannot be Claimed Even when Deposited Within Due Date of Filing Return: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the delayed deposit of employee's contribution to Provident Fund (PF) and Employees’ State Insurance (ESI) could not be...
![Delayed Deposit of Employees Contribution to PF and ESI cannot be Claimed Even when Deposited Within Due Date of Filing Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deposit-of-Employees-Contribution-to-PF-and-ESI-Deposit-PF-Contribution-ESI-Contribution-Claim-Due-Date-of-Filing-Return-ITAT-Taxscan.jpg "Delayed Deposit of Employees Contribution to PF and ESI cannot be Claimed Even when Deposited Within Due Date of Filing Return: ITAT [Read Order]")