Upcoming Income Tax Deadline: November 14, 2024, for Forms 16B, 16C, 16D, and 16E
If you’ve been involved in specific financial transactions this past September, November 14, 2024 is an important deadline approaching. By this...
![CBDT sets New Monetary Limits for Waiving or Reducing Interest on Pending Dues u/s 220(2) of Income Tax [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-CBDT-Central-Board-of-Direct-Taxes-Monetary-Limits-TAXSCAN.jpg "CBDT sets New Monetary Limits for Waiving or Reducing Interest on Pending Dues u/s 220(2) of Income Tax [Read Notification]")
![ITAT Rules Shareholder Transfer not Grounds for Company Property Revaluation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-New-Delhi-TAXSCAN.jpg "ITAT Rules Shareholder Transfer not Grounds for Company Property Revaluation [Read Order]")
![ITAT Overturns AOs Additions for deemed Rental Income, upholding Long-Term Lease Agreements [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-Rental-Income-Long-Term-Lease-Agreement-Rental-Income-Additions-Taxscan.jpg "ITAT Overturns AOs Additions for deemed Rental Income, upholding Long-Term Lease Agreements [Read Order]")
ITAT allows Weighted Deduction under Section 35(2AB), Classifying DSIR Funding as Soft Loan [Read order]
The Visakhapatnam Bench of Income Tax Appellate Tribunal ( ITAT ) allowed a weighted deduction under Section 35(2AB) of Income Tax Act,1961 for the assessee, classifying funding received from the...
![ITAT allows Weighted Deduction under Section 35(2AB), Classifying DSIR Funding as Soft Loan [Read order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-DSIR-Soft-Loan-Taxscan.jpg "ITAT allows Weighted Deduction under Section 35(2AB), Classifying DSIR Funding as Soft Loan [Read order]")
ITAT allows Deduction of Rs. 1.72 crore for Reversal of Obsolete Inventory provision due to Double Taxation Concerns [Read Order]
In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a deduction of Rs. 1.72 crore claimed by the assessee for the reversal of a provision for obsolete...
![ITAT allows Deduction of Rs. 1.72 crore for Reversal of Obsolete Inventory provision due to Double Taxation Concerns [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-Income-Tax-deduction-Taxscan.jpg "ITAT allows Deduction of Rs. 1.72 crore for Reversal of Obsolete Inventory provision due to Double Taxation Concerns [Read Order]")
“No delay in filing appeal before CIT(A)”: ITAT considers COVID-19 Limitation Extension [Read Order]
In a recent ruling, the Cuttak bench of the Incomed Tax Appeallate Tribunal ( ITAT ) ruled in favour of the assessee and held that there was no delay in filing an appeal before the Commissioner of...
![“No delay in filing appeal before CIT(A)”: ITAT considers COVID-19 Limitation Extension [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Cuttak-COVID-19-Limitation-Extension-Taxscan.jpg "“No delay in filing appeal before CIT(A)”: ITAT considers COVID-19 Limitation Extension [Read Order]")
Rs. 44.5 cr Addition made on Incorrect Reporting by Auditor: ITAT directs CIT(A) to condone delay of 484 days [Read Order]
In a recent ruling, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) held that the addition of 44.5 crores was made based on incorrect reporting by the auditor and directed the...
![Rs. 44.5 cr Addition made on Incorrect Reporting by Auditor: ITAT directs CIT(A) to condone delay of 484 days [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Incorrect-reporting-by-auditor-Auditor-misreporting-consequences-Tax-appeal-delay-condonation-taxscan.jpg "Rs. 44.5 cr Addition made on Incorrect Reporting by Auditor: ITAT directs CIT(A) to condone delay of 484 days [Read Order]")
PAN Error Linking to Partnership Firm leads to S. 69A Addition: ITAT rules FAA’s Order Cryptic, Directs Fresh Examination [Read Order]
In a recent ruling, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that an error in linking a PAN to a partnership firm resulted in an addition under Section 69A to the...
![PAN Error Linking to Partnership Firm leads to S. 69A Addition: ITAT rules FAA’s Order Cryptic, Directs Fresh Examination [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-Income-Tax-Errors-in-pan-linking-FAA-Order-TAXSCAN.jpg "PAN Error Linking to Partnership Firm leads to S. 69A Addition: ITAT rules FAA’s Order Cryptic, Directs Fresh Examination [Read Order]")
ITAT Remits Case to CIT(A) for Reassessment of Cash Deposits after Admission of Additional Evidence [Read Order]
The Visakhapatnam Bench of Income Tax Appellate Tribunal(ITAT) remitted the matter back to the Commissioner of Income Tax(Appeals)[CIT(A)] for reassessment of cash deposits made by the assessee,...
![ITAT Remits Case to CIT(A) for Reassessment of Cash Deposits after Admission of Additional Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-ITAT-Remits-ITAT-Remits-Case-CITA-Reassessment-Cash-Deposits-Additional-Evidence-Commissioner-of-Income-TaxAppeals-taxscan.jpg "ITAT Remits Case to CIT(A) for Reassessment of Cash Deposits after Admission of Additional Evidence [Read Order]")
ITAT quashes CIT(E) Order, upholds Nil Income for Mother Theresa Educational Society due to Proper Fund Application and Disallowed Depreciation [Read Order]
The Visakhapatnam Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the Commissioner of Income Tax (Exemption)[CIT(E)]'s order, upholding the nil income assessment for Mother Theresa...
![ITAT quashes CIT(E) Order, upholds Nil Income for Mother Theresa Educational Society due to Proper Fund Application and Disallowed Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-ITAT-Quashes-Income-Tax-Appellate-Tribunal-Mother-Theresa-Educational-Society-Nil-Income-CITE-Order-taxscan.jpg "ITAT quashes CIT(E) Order, upholds Nil Income for Mother Theresa Educational Society due to Proper Fund Application and Disallowed Depreciation [Read Order]")