Taxscan Team
![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]")
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...
![Depreciation on Goodwill cannot be Denied on ground of Adopting DFC Method when AO Accepted Capital Gain Claim for Slump Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Goodwill-Denied-ground-Adopting-DFC-Method-Capital-Gain-Claim-Slump-Sale-ITAT-TAXSCAN1.jpg "Depreciation on Goodwill cannot be Denied on ground of Adopting DFC Method when AO Accepted Capital Gain Claim for Slump Sale: ITAT [Read Order]")
![Coffee Day and MACEL Scam: NFRA Debars Audit Firm and 4 Auditors, Imposes Penalty for Audit Lapses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Coffee-Day-MACEL-Scam-NFRA-Audit-Firm-Auditors-Penalty-Audit-Lapses-taxscan.jpg "Coffee Day and MACEL Scam: NFRA Debars Audit Firm and 4 Auditors, Imposes Penalty for Audit Lapses [Read Order]")
![No Addition can be made Against Individual for Cash Deposit of Tuition Fee received from Students during Demonetization Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Cash-Deposit-Tuition-Fee-Demonetization-ITAT-Income-Tax-Tax-Taxscan.jpg "No Addition can be made Against Individual for Cash Deposit of Tuition Fee received from Students during Demonetization Period: ITAT [Read Order]")
Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has quashed an ex-parte order and directed re-adjudication as the assessee did not get an opportunity to represent his case due to non-receipt of...
![Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Non-Receipt-of-Notices-Income-Tax-Portal-ITAT-Ex-Parte-Order-Re-Adjudication-TAXSCAN.jpg "Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]")
Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has directed the income tax department to compute income tax on the rental income on the basis of municipal ratable value for computing the...
![Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Builder-Income-Tax-Rental-Income-Notional-Basis-Municipal-Ratable-Value-Unsold-Flats-ITAT-Taxscan.jpg "Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]")
TDS u/s 195 Not Applicable on Reimbursement of Allowances to Employees Deputed Outside India: ITAT Grants Relief to PII [Read Order]
In a major relief to M/s Petroleum India International (PII), the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that TDS provisions under section 195 of the Income Tax Act is not...
![TDS u/s 195 Not Applicable on Reimbursement of Allowances to Employees Deputed Outside India: ITAT Grants Relief to PII [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/TDS-Reimbursement-of-Allowances-to-Employees-Reimbursement-of-Allowances-ITAT-PII-taxscan-.jpg "TDS u/s 195 Not Applicable on Reimbursement of Allowances to Employees Deputed Outside India: ITAT Grants Relief to PII [Read Order]")