Taxscan Team
![Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/assessmentEx-Gratia-Payment-Payment-Ex-Gratia-Payment-Received-on-Voluntary-Retirement-Voluntary-Retirement-Profit-in-Lieu-of-Salary-Profit-ITAT-ITAT-Deletes-Addition-Ex-Gratia-Payment-Received-Taxscan.jpg "Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]")
Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the ex-gratia payment received by the employee on voluntary retirement...
![Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Sale-Price-Shares-FMV-Invoke-Income-Tax-Act-ITAT-TAXSCAN.jpg "Mere Difference in Sale Price of Shares and FMV Not A Ground to Invoke S. 56(2)(viia) of Income Tax Act: ITAT [Read Order]")
![Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Cash-Deposit-Demonetization-Alimony-from-Husband-Alimony-ITAT-Addition-ITAT-deletes-Addition-Income-Tax-Act-taxscan.jpg "Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]")
![Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Company-Deduction-Foreign-Travel-Expenses-Employee-Relative-of-Director-Employee-and-Relative-of-Director-ITAT-Income-Tax-taxscan.jpg "Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]")
![Donations to Registered Trusts Allowable as CSR Expenses u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Donations-Registered-Trusts-Trusts-CSR-Expenses-CSR-Expenses-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Donations to Registered Trusts Allowable as CSR Expenses u/s 80G of Income Tax Act: ITAT [Read Order]")
Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271(1)(c) of the Income Tax Act is not sustainable when the Tribunal has deleted the quantum addition. ...
![Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Income-Tax-Act-Income-Tax-Deletion-of-Quantum-Addition-Quantum-Addition-Addition-Tribunal-ITAT-Taxscan.jpg "Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]")
Co-Operative Bank Eligible for 80P Deduction in respect of Income from Interest on Staff Welfare Fund and Staff Loans: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that a co-operative bank is eligible for deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961 interest from staff...
![Co-Operative Bank Eligible for 80P Deduction in respect of Income from Interest on Staff Welfare Fund and Staff Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Co-Operative-Bank-Deduction-Income-Interest-Staff-Welfare-Fund-Staff-Loans-ITAT-Income-Tax-Taxscan.jpg "Co-Operative Bank Eligible for 80P Deduction in respect of Income from Interest on Staff Welfare Fund and Staff Loans: ITAT [Read Order]")
![Assessment Passed Against Deceased Person Even After Knowledge of Death is Bad in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Assessment-Deceased-Person-Law-ITAT-Taxscan.jpg "Assessment Passed Against Deceased Person Even After Knowledge of Death is Bad in Law: ITAT [Read Order]")
Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the waiver of cash loan by a holding company vide Agreement is not taxable as “Income from Profits and Gains from Business and...
![Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Waiver-Cash-Loan-Holding-Company-Taxable-Business-Income-Income-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]")
Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the deduction under section 57 of the Income Tax Act 1961 is allowable towards the net interest income received by the...
![Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Bank-Term-Loan-Net-Interest-Income-Tax-Act-ITAT-TAXSCAN.jpg "Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]")