Case Digest on Delay in Filing Audit Report under Income Tax Act
This case digest provides an analytical summary of judgments and observations related to delays in filing audit report under Income Tax Act that were...
![CBDT Grants Income Tax Exemption for Karnataka State Horticulture Development Agency u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/CBDT-Central-Board-of-Direct-Taxes-Income-Tax-Exemption-Income-Tax-Exemption-for-Horticulture-Development-TAXSCAN.jpg "CBDT Grants Income Tax Exemption for Karnataka State Horticulture Development Agency u/s 10(46) [Read Notification]")
![CBDT Grants Income Tax Exemption for Commissioners of Rabindra Setu, Kolkata u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/CBDT-Central-Board-of-Direct-Taxes-Income-Tax-Exemption-Income-Tax-Commissioners-of-Rabindra-Setu-TAXSCAN.jpg "CBDT Grants Income Tax Exemption for Commissioners of Rabindra Setu, Kolkata u/s 10(46) [Read Notification]")
![ITAT Directs Reconsideration of Deduction Claim u/s 36(1)(va) in Light of Supreme Court Decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Directs-Reconsideration-Deduction-Claim-ITAT-Directs-Reconsideration-of-Deduction-Claim-Supreme-Court-disallowance-of-Employees-Provident-Fund-Supreme-Courts-recent-judgment-Taxscan.jpg "ITAT Directs Reconsideration of Deduction Claim u/s 36(1)(va) in Light of Supreme Court Decision [Read Order]")
![ITAT Partly Allows Assessees Appeal, Directs Benefit of Rs.8 Lakhs for Unexplained Cash Deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-Unexplained-Cash-Deposits-Section-69A-ITAT-Income-Tax-Appellate-Tribunal-Income-Tax-TAXSCAN.jpg "ITAT Partly Allows Assessees Appeal, Directs Benefit of Rs.8 Lakhs for Unexplained Cash Deposits [Read Order]")
ITAT Allows Assessee's Appeal, Orders CIT(A) to Decide on Foreign Tax Credit Claim Along with Pending Appeal [Read Order]
Recently, the Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT), allowed the appeal of a senior citizen from Telangana, challenging the denial of Foreign Tax Credit (FTC) for the Assessment...
![ITAT Allows Assessees Appeal, Orders CIT(A) to Decide on Foreign Tax Credit Claim Along with Pending Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-Income-tax-Income-tax-news-Foreign-Tax-Credit-Claim-Taxscan.jpg "ITAT Allows Assessees Appeal, Orders CIT(A) to Decide on Foreign Tax Credit Claim Along with Pending Appeal [Read Order]")
Interest Income classified as Business Income: ITAT grants allowance of Related Expenses [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that interest income earned by the assessee should be classified as business income, granting the allowance of related expenses. ...
![Interest Income classified as Business Income: ITAT grants allowance of Related Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Interest-Income-Grants-Allowance-ITAT-Grants-Allowance-taxscan.jpg "Interest Income classified as Business Income: ITAT grants allowance of Related Expenses [Read Order]")
CIT(A) Dismisses Appeal as Time-Barred Despite Extended Deadline: ITAT Orders Rehearing and ₹10,000 Cost on Revenue [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) orders rehearing and imposed ₹10,000 on Revenue as Commissioner of Income Tax(Appeals)[CIT(A)] dismisses appeal as time-barred despite...
![CIT(A) Dismisses Appeal as Time-Barred Despite Extended Deadline: ITAT Orders Rehearing and ₹10,000 Cost on Revenue [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "CIT(A) Dismisses Appeal as Time-Barred Despite Extended Deadline: ITAT Orders Rehearing and ₹10,000 Cost on Revenue [Read Order]")
CIT(E) Denies Registration to Trust Engaged in Fund-Raising Activities: ITAT sets aside Denial and directs Grant u/s 12AB [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the Commissioner of Income Tax (Exemptions)[CIT(E)]'s denial of registration to a trust engaged in fund-raising activities and...
![CIT(E) Denies Registration to Trust Engaged in Fund-Raising Activities: ITAT sets aside Denial and directs Grant u/s 12AB [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-ITAT-on-trust-registration-denial-TAXSCAN.jpg "CIT(E) Denies Registration to Trust Engaged in Fund-Raising Activities: ITAT sets aside Denial and directs Grant u/s 12AB [Read Order]")
Finance Ministry Grants TDS Exemption to Credit Guarantee Funds Managed by NCGTC u/s 10(46B)(i) of Income Tax [Read Notification]
The Ministry of Finance issued Notification No. S.O. 20(E), dated January 2, 2025, announcing tax relief by exempting income tax deduction at source (TDS) on specific payments under Chapter XVII of...
![Finance Ministry Grants TDS Exemption to Credit Guarantee Funds Managed by NCGTC u/s 10(46B)(i) of Income Tax [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/Finance-Ministry-TDS-Exemption-Credit-Guarantee-Funds-NCGTC-Income-Tax-taxscn.jpg "Finance Ministry Grants TDS Exemption to Credit Guarantee Funds Managed by NCGTC u/s 10(46B)(i) of Income Tax [Read Notification]")
Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]
The Ministry of Finance issued Notification No. S.O. 19(E), dated January 2, 2025, announcing a tax exemption for the National Credit Guarantee Trustee Company Limited ( NCGTC ). Payments made to...
![Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/Finance-Minister-NCGTC-TDS-Finance-Ministry-Exempts-NCGTC-from-TDS-Taxscan.jpg "Finance Ministry Exempts NCGTC from TDS on Payments Received u/s 10(46B)(i) of Income Tax [Read Notification]")
Income Tax Dept Specifies Conditions for TDS Exemption on Purchases from IFSC Units u/s 194Q [Read Order]
The Income Tax Department issued Notification No. 3/2025, dated January 2, 2025, outlining specific conditions under which buyers are exempted from deducting tax at source ( TDS ) on purchases made...
![Income Tax Dept Specifies Conditions for TDS Exemption on Purchases from IFSC Units u/s 194Q [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Income-Tax-Department-Tax-deducted-at-source-TDS-TDS-Exemption-TAXSCAN.jpg "Income Tax Dept Specifies Conditions for TDS Exemption on Purchases from IFSC Units u/s 194Q [Read Order]")