Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot...
![Filing of Form No.62 for Third Assessment Year is not required to allow Assessee to carry forward Losses: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/Lotte-India-Madras-High-Court-Form-No.jpg "Filing of Form No.62 for Third Assessment Year is not required to allow Assessee to carry forward Losses: Madras HC [Read Judgment]")
Madras High Court dismisses CA ’s plea seeking to direct Institute of Cost Accountants of India to use acronym ICOAI instead of ICAI [Read Judgment]
The Madras High Court dismissed CA ’s plea seeking to direct the Institute of Cost Accountants of India to use the acronym ‘ICOAI’ instead of ‘ICAI’. The petition filed by the appellant V Venkata...
![Madras HC upholds DRP’s order in favour of Renault Nissan in computing Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Renault-Nissan-DRP-Deduction-Madras-High-Court-Taxscan.jpg "Madras HC upholds DRP’s order in favour of Renault Nissan in computing Deduction [Read Order]")
Professionals like Chartered Accountants, Lawyers are now eligible to avail Govt's Credit Guarantee Scheme for MSMEs
The government on Saturday expanded the scope of the scheme to include ‘individual loans given for business purposes’ within the ambit of the Emergency Credit Line Guarantee Scheme. Professionals...
![Submission of Audit Report along with Income Tax Return is not Mandatory: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-audit-report-Taxscan.jpg "Submission of Audit Report along with Income Tax Return is not Mandatory: ITAT [Read Order]")
Withholding of Refund on ground of Non-Completion of Assessment is Invalid: Delhi High Court [Read Order]
The Delhi High Court directed the Income Tax Authority to release the refund withheld without valid reasons and based on flawed assumptions. The petitioner, Cooner Institute of Health Care And...
![Withholding of Refund on ground of Non-Completion of Assessment is Invalid: Delhi High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Refund-Assessment-Delhi-High-Court-Taxscan.jpg "Withholding of Refund on ground of Non-Completion of Assessment is Invalid: Delhi High Court [Read Order]")
![ITAT grants Fresh Opportunity to a House Wife to Produce Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-House-Wife-Produce-Documents-Taxscan.jpg "ITAT grants Fresh Opportunity to a House Wife to Produce Documents [Read Order]")
Possessing Ration Card of low Economic Strata is not sufficient to prove Financial Status: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the fact that the assessee possesses a ration card of low economic strata cannot be a sole basis to show the financial...
![Possessing Ration Card of low Economic Strata is not sufficient to prove Financial Status: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-Ration-Card-Economic-Strata-Financial-Status-Taxscan.jpg "Possessing Ration Card of low Economic Strata is not sufficient to prove Financial Status: ITAT [Read Order]")