![National Aviation Security Fee Trust Receives Income Tax Exemption from CBDT u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/11/CBDT-Income-Tax-Income-Tax-Exemption-Central-Board-of-Direct-Taxes-TAXSCAN.jpg "National Aviation Security Fee Trust Receives Income Tax Exemption from CBDT u/s 10(46) [Read Notification]")
National Aviation Security Fee Trust Receives Income Tax Exemption from CBDT u/s 10(46) [Read Notification]
The Central Board of Direct Taxes ( CBDT ) has granted income tax exemption to the National Aviation Security Fee Trust under clause (46) of section...
![CBDT exempts District Legal Service Authority, Haryana from Income Tax [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/11/CBDT-Income-tax-Income-Tax-Exemption-CBDT-Income-Tax-Exemption-Updates-Central-Board-of-Direct-Taxes-Taxscan.jpg "CBDT exempts District Legal Service Authority, Haryana from Income Tax [Read Notification]")
![ITAT Directs Restoration of Income Tax Appeal to Review Payment of Admitted Tax Amount [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/itat-income-tax-Restoration-of-Income-Tax-Appeal-Taxscan.jpg "ITAT Directs Restoration of Income Tax Appeal to Review Payment of Admitted Tax Amount [Read Order]")
![ITAT Remits Case to CIT(A) for Fresh Consideration of Condonation of Delay in Filing Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-condonation-delay-TAXSCAN.jpg "ITAT Remits Case to CIT(A) for Fresh Consideration of Condonation of Delay in Filing Appeal [Read Order]")
![GST cannot be included while computing Deemed Income u/s 44B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/income-tax-act-itat-Section-44AB-Income-Tax-Act-Deemed-Income-itat-mumbai-income-tax-taxscan.jpg "GST cannot be included while computing Deemed Income u/s 44B: ITAT [Read Order]")
Consideration of Commission Income over Gross Sales: ITAT allows Full Credit Eligibility for Commission Agents [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed full Tax Deducted at Source ( TDS ) credit for commission agents citing CBDT Circular No. 452 which clarifies that only...
![Consideration of Commission Income over Gross Sales: ITAT allows Full Credit Eligibility for Commission Agents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Visakhapatnam-Tax-Deducted-at-Source-TDS-Credit-Eligibility-under-CBDT-Circular-CBDT-Circular-No.-452-Guidelines-Taxscan.jpg "Consideration of Commission Income over Gross Sales: ITAT allows Full Credit Eligibility for Commission Agents [Read Order]")
How the Government Grants Income Tax Exemptions to Certain Institutions: Key Criteria and Guidelines
Income tax exemptions are an important mechanism provided by the government to support institutions that play a role in the public welfare and contribute to society. These exemptions allow non-profit...
Non-Appearance Due to Health Issues: ITAT Remands Business Income Estimation Matter for Reconsideration [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter of business income estimation for reconsideration citing the assessee’s failure to appear before the...
![Non-Appearance Due to Health Issues: ITAT Remands Business Income Estimation Matter for Reconsideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-TAXSCAN.jpg "Non-Appearance Due to Health Issues: ITAT Remands Business Income Estimation Matter for Reconsideration [Read Order]")
CBDT issues Circular for Condonation of Delay in Filing Income Tax Forms 9A, 10, 10B, and 10BB [Read Circular]
In a significant move aimed at easing compliance for taxpayers, the Central Board of Direct Taxes ( CBDT ) has issued Circular No. 6/2024, with provisions for condonation of delays in filing Forms...
![CBDT issues Circular for Condonation of Delay in Filing Income Tax Forms 9A, 10, 10B, and 10BB [Read Circular]](https://www.taxscan.in/wp-content/uploads/2024/11/CBDT-Income-Tax-Central-Board-of-Direct-Taxes-Condonation-of-Delay-Delay-in-Filing-Income-Tax-Forms-Taxscan.jpg "CBDT issues Circular for Condonation of Delay in Filing Income Tax Forms 9A, 10, 10B, and 10BB [Read Circular]")
Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]
The Nagpur Bench of the Income Tax Appellate Tribunal ( ITAT ) held that capital subsidy should be reduced for computation of book profit under Section 115JB of the Income Tax Act,1961. In this...
![Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Nagpur-Income-Tax-Act-Capital-Subsidy-cases-under-ITAT-TAXSCAN.jpg "Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]")
Relief to Discovery Communications India: Delhi HC halts Reopening of Assessment beyond 4 Years w/o Essential Requirements [Read Order]
The Delhi High Court recently granted relief to prominent media entity Discovery Communications by preventing the reopening of their Income Tax Assessment for the Assessment Year (A.Y.) 2011-12,...
![Relief to Discovery Communications India: Delhi HC halts Reopening of Assessment beyond 4 Years w/o Essential Requirements [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Discovery-Communications-India-Income-Tax-assessment-Discovery-Communications-tax-case-taxscan.jpg "Relief to Discovery Communications India: Delhi HC halts Reopening of Assessment beyond 4 Years w/o Essential Requirements [Read Order]")
ITAT Rules in Favor of Assessee, Strikes Down Taxation of Loan in Incorrect Assessment Year [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favor of the assessee, and struck down the taxation of a loan in the incorrect assessment year (AY) 2018-2019. Dhanaraja Babu...
![ITAT Rules in Favor of Assessee, Strikes Down Taxation of Loan in Incorrect Assessment Year [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Bangalore-Income-Tax-Tribunal-Income-Tax-Assessment-TAXSCAN.jpg "ITAT Rules in Favor of Assessee, Strikes Down Taxation of Loan in Incorrect Assessment Year [Read Order]")