9 Income Tax relief to Cooperative Societies including Cash Transactions u/s 269T: Minister Amit Shah's Rajya Sabha Reply
The central government has provided 9 income tax relief measures to cooperative societies, intending to improve their financial stability and...
![Illiterate Assessee Running Mobile Shop fails to Comply with Income Tax Notice: ITAT imposes Fine [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Income-Tax-notice-on-mobile-shop-TAXSCAN.jpg "Illiterate Assessee Running Mobile Shop fails to Comply with Income Tax Notice: ITAT imposes Fine [Read Order]")
![[BREAKING] CIT(A) directs AO to allow Income Tax 87A Rebate on STCG earlier Disallowed by Portal during Processing FY 2023-24 ITR Post-Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CITA-AO-Income-Tax-87A-Rebate-STCG-Disallowed-Portal-Processing-FY-2023-24-ITR-post-verification-taxscan.jpg "[BREAKING] CIT(A) directs AO to allow Income Tax 87A Rebate on STCG earlier Disallowed by Portal during Processing FY 2023-24 ITR Post-Verification [Read Order]")
![Denial of Deduction u/s80P(2)(a)(i) to Souharda Cooperative Society citing provision of Banking Facilities to Nominal Members: ITAT Remits for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Denial-of-Deduction-Souharda-Cooperative-Society-provision-of-Banking-Facilities-Banking-Facilities-to-Nominal-Members-ITAT-ITAT-Remits-Income-Tax-Appellate-Tribunal-Sahakari-Act-Taxscan.jpg "Denial of Deduction u/s80P(2)(a)(i) to Souharda Cooperative Society citing provision of Banking Facilities to Nominal Members: ITAT Remits for Verification [Read Order]")
![ITAT Rejects Cooperative Banks Bad Debt Reserve Claim u/s 36(1)(viia), Allows FD Loss as Business Expense [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Section-361viia-of-Income-Tax-Act-taxscan.jpg "ITAT Rejects Cooperative Banks Bad Debt Reserve Claim u/s 36(1)(viia), Allows FD Loss as Business Expense [Read Order]")
Finance Ministry Notifies Special Courts for Black Money and Income Tax Cases in Tamil Nadu and Puducherry [Read Notification]
The Ministry of Finance issued Notification No. 126/2024 dated December 10, 2024, for designated special courts in Tamil Nadu and Puducherry. These courts will exclusively handle cases related to the...
![Finance Ministry Notifies Special Courts for Black Money and Income Tax Cases in Tamil Nadu and Puducherry [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/Tamil-Nadu-Black-Money-Cases.jpg "Finance Ministry Notifies Special Courts for Black Money and Income Tax Cases in Tamil Nadu and Puducherry [Read Notification]")
ITAT Reduces Penalty to Rs 10,000 for Non-Response to Notices, Citing Assessee's Depression and Business Loss [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) reduces the penalty levied upon the appellant by Commissioner of Income Tax (Appeals). Jayasakthi Knit Wear,appellant-assessee...
![ITAT Reduces Penalty to Rs 10,000 for Non-Response to Notices, Citing Assessees Depression and Business Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Chennai-Income-Tax-Appellate-Tribunal-ITAT-Penaty-Reduction-case-taxscan.jpg "ITAT Reduces Penalty to Rs 10,000 for Non-Response to Notices, Citing Assessees Depression and Business Loss [Read Order]")
ITAT sets aside CIT(A) Order for Violating Natural Justice, Directs Fresh Adjudication u/s 250(6) [Read Order]
Chennai Bench of the Income Tax Appellate Tribunal (ITAT) set aside the order passed by the Commissioner of Income Tax (Appeals) for the assessment years 2018-19 to 2020-21, noting that the...
![ITAT sets aside CIT(A) Order for Violating Natural Justice, Directs Fresh Adjudication u/s 250(6) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Chennai-ITAT-Sets-Aside-CITA-Order-for-Violating-Violating-Natural-Justice-natural-justice-taxscan.jpg "ITAT sets aside CIT(A) Order for Violating Natural Justice, Directs Fresh Adjudication u/s 250(6) [Read Order]")
Belated Filing of Form 67 not a Ground to Deny Tax Credit: ITAT directs CIT(A) to allow FTC [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chennai Bench, ruled that the belated filing of Form 67 cannot serve as a valid ground for denying Foreign Tax Credit (FTC) to a taxpayer. The order was...
![Belated Filing of Form 67 not a Ground to Deny Tax Credit: ITAT directs CIT(A) to allow FTC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Form-67.jpg "Belated Filing of Form 67 not a Ground to Deny Tax Credit: ITAT directs CIT(A) to allow FTC [Read Order]")
![Annual Digest 2024: Supreme Court and High Court Cases on Taxation [Part 5]](https://www.taxscan.in/wp-content/uploads/2024/12/Supreme-Court-High-Court-Cases-Supreme-Court-updates-High-Court-updates-Legal-Updates-taxscan.jpg "Annual Digest 2024: Supreme Court and High Court Cases on Taxation [Part 5]")