Income Tax Deduction Eligibility of Cooperative Society
Co-operative Societies are associations of voluntary individuals who work together to meet common economic, social, or cultural needs through a...
![ITAT Sets Aside CIT(A) Order, Directs NFAC to Resolve Appeal Alongside Pending Assessment Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/NFAC-bound-NFAC-CBDT-CBDT-Circular-ITAT-Taxscan.jpg "ITAT Sets Aside CIT(A) Order, Directs NFAC to Resolve Appeal Alongside Pending Assessment Matter [Read Order]")
![ITAT Rules S.56(2)(x) Inapplicable to Property Transaction Due to Execution of Agreement Before 01 April 2017 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Rules-ITAT-Mumbai-ITAT-Rules-S.562x-Property-Transaction-Agreement-TAXSCAN.jpg "ITAT Rules S.56(2)(x) Inapplicable to Property Transaction Due to Execution of Agreement Before 01 April 2017 [Read Order]")
![ITAT Quashes ₹4.27 cr Addition in Alleged Bogus LTCG from Penny Stock Transactions Citing Lack of Fair Opportunity for Senior Citizen [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Ahmedabad-LTCG-long-term-capital-gains-Penny-Stock-Penny-Stock-Transactions-TAXSCAN.jpg "ITAT Quashes ₹4.27 cr Addition in Alleged Bogus LTCG from Penny Stock Transactions Citing Lack of Fair Opportunity for Senior Citizen [Read Order]")
![Curable Defect in Form 35A: ITAT Sets Aside DRP Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "Curable Defect in Form 35A: ITAT Sets Aside DRP Order [Read Order]")
ITAT Upholds CIT(A) Ruling on Unexplained Cash Credits Due to Acceptance of Genuineness in Remand Report [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)upheld the Commissioner of Income Tax Appeals[CIT(A)]'s ruling on unexplained cash credits, affirming the justified deletion of Rs....
![ITAT Upholds CIT(A) Ruling on Unexplained Cash Credits Due to Acceptance of Genuineness in Remand Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Upholds-Deletion-of-Additions-ITAT-Share-Application-Capital-Share-Capital-Unexplained-Cash-Credits-Income-Tax-Act-ITAT-Upholds-Deletion-Additions-Made-on-Account-of-Share-Application-Taxscan.jpg "ITAT Upholds CIT(A) Ruling on Unexplained Cash Credits Due to Acceptance of Genuineness in Remand Report [Read Order]")
Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCIT's Differing View: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the revisionary jurisdiction under Section 263 of the Income Tax Act,1961 cannot be invoked solely based on the Principal...
![Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Revision-Order-TAXSCAN.jpg "Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]")
Relief to ICICI: ITAT Deletes Disallowance of Dividend Income Citing S.44 Overrides S.14A in Computation of Insurance Company Income [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the disallowance on dividend income claimed by ICICI Prudential Life Insurance, ruling that Section 44, being a non-obstante...
![Relief to ICICI: ITAT Deletes Disallowance of Dividend Income Citing S.44 Overrides S.14A in Computation of Insurance Company Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-ICICI-Income-Tax-Income-Tax-Act-Section-14A-of-Income-Tax-Act-Taxscan.jpg "Relief to ICICI: ITAT Deletes Disallowance of Dividend Income Citing S.44 Overrides S.14A in Computation of Insurance Company Income [Read Order]")
ITAT Grants Registration u/s 12AB, Clarifying That S.13(1)(b) Applies Only at the Assessment Stage [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)granted registration under section 12AB of the Income Tax Act,1961 clarifying that section 13(1)(b) of the Act applies only at the assessment...
![ITAT Grants Registration u/s 12AB, Clarifying That S.13(1)(b) Applies Only at the Assessment Stage [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-Ahmedabad-ITAT-Grants-Registration-section-12AB-section-12AB-Income-Tax-Act-TAXSCAN.jpg "ITAT Grants Registration u/s 12AB, Clarifying That S.13(1)(b) Applies Only at the Assessment Stage [Read Order]")
![Disallowance of Interest Expenses: ITAT remands Matter for Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Assessing-Officer-TAXSCAN.jpg "Disallowance of Interest Expenses: ITAT remands Matter for Fresh Adjudication [Read Order]")
AO not at Fault in completing Income Tax Assessment once Jurisdiction to Issue Notice u/s 143(2) is Accepted: Delhi HC [Read Order]
The Delhi High Court recently upheld the powers of an Assessing Officer (AO) to complete a pending Income Tax Assessment, once the jurisdictional competence of the Officer to issue Notice under...
![AO not at Fault in completing Income Tax Assessment once Jurisdiction to Issue Notice u/s 143(2) is Accepted: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Delhi-High-Court-Delhi-HC-Income-Tax-Income-Tax-Assessment-AO-Assessing-Officer-Section-1432-TAXSCAN.jpg "AO not at Fault in completing Income Tax Assessment once Jurisdiction to Issue Notice u/s 143(2) is Accepted: Delhi HC [Read Order]")
Extended Working Hours not a Valid Reason for Assumption of Additional Income as Commission: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) has ruled that extended working hours alone cannot be a valid basis for assuming additional income in the form of commissions where an addition made by the...
![Extended Working Hours not a Valid Reason for Assumption of Additional Income as Commission: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/No-investment-investment-books-of-Accounts-ITAT-Income-Tax-Addition-taxscan.jpg "Extended Working Hours not a Valid Reason for Assumption of Additional Income as Commission: ITAT [Read Order]")