![Late Filing of Form 67 Cannot Override Rights under DTAA: ITAT Allows FTC Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Kolkata-FTC-Claim-under-ITAT-TAXSCAN.jpg "Late Filing of Form 67 Cannot Override Rights under DTAA: ITAT Allows FTC Claim [Read Order]")
Late Filing of Form 67 Cannot Override Rights under DTAA: ITAT Allows FTC Claim [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that procedural delays, such as late Form 67 filing, cannot invalidate a...
![Loan Interest Deduction u/s 48 of Income Tax Valid Despite Prior Claim u/s 24(b), Amendment to S. 48 Effective from AY 2024-25: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Income-Tax-Deduction-TAXSCAN.jpg "Loan Interest Deduction u/s 48 of Income Tax Valid Despite Prior Claim u/s 24(b), Amendment to S. 48 Effective from AY 2024-25: ITAT [Read Order]")
![Non-Compliance with AO Notices Despite Being Indian Oil Corporation Employee Aware of Tax Obligations: ITAT Upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Non-Compliance-with-AO-Notices-Indian-Oil-Corporation-Tax-Obligations-ITAT-Upholds-Penalty-TAXSCAN.jpg "Non-Compliance with AO Notices Despite Being Indian Oil Corporation Employee Aware of Tax Obligations: ITAT Upholds Penalty [Read Order]")
![No Incriminating Evidence found for Rs. 14.3 Cr Addition: ITAT dismisses Revenues Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/TAT-Income-Tax-Appellate-Tribunal-ITAT-Delhi-No-Incriminating-Evidence-ITAT-dismisses-Revenues-Appeal-taxscan.jpg "No Incriminating Evidence found for Rs. 14.3 Cr Addition: ITAT dismisses Revenues Appeal [Read Order]")
![Interest Income received from Co-Op Society/Banks entitled to Deduction u/s 80P(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Interest-Income-Deduction-Bank-Interest-Deduction-Section-80P-Income-Tax-Deduction-taxscan.jpg "Interest Income received from Co-Op Society/Banks entitled to Deduction u/s 80P(2)(d): ITAT [Read Order]")
ITAT Restores Case to CIT(A) for Reconsideration of Rs. 13.35 Lakh Unexplained Cash Deposits due to Non-Consideration of Assessee's Evidence [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the case to the Commissioner of Income Tax (Appeals) [CIT(A)] for reconsideration of the ₹13.35 lakh unexplained cash deposit...
![ITAT Restores Case to CIT(A) for Reconsideration of Rs. 13.35 Lakh Unexplained Cash Deposits due to Non-Consideration of Assessees Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Unexplained-Cash-Deposits-taxscan-1.jpg "ITAT Restores Case to CIT(A) for Reconsideration of Rs. 13.35 Lakh Unexplained Cash Deposits due to Non-Consideration of Assessees Evidence [Read Order]")
ITAT Restores Appeal to CIT(A) for De Novo Adjudication, Upholding Timely Filing of the Appeal [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the appeal filed by the assessee to the Commissioner of Income Tax (Appeals) [CIT(A)] for de novo adjudication, upholding that...
![ITAT Restores Appeal to CIT(A) for De Novo Adjudication, Upholding Timely Filing of the Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-De-Novo-Adjudication-Commissioner-of-Income-Tax-taxscan.jpg "ITAT Restores Appeal to CIT(A) for De Novo Adjudication, Upholding Timely Filing of the Appeal [Read Order]")
10% Tolerance Band u/s 43CA Applies Retrospectively to Address Stamp Valuation Discrepancies: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the 10% tolerance band under Section 43CA introduced by the Finance Act, 2020 to address stamp duty valuation discrepancies...
![10% Tolerance Band u/s 43CA Applies Retrospectively to Address Stamp Valuation Discrepancies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "10% Tolerance Band u/s 43CA Applies Retrospectively to Address Stamp Valuation Discrepancies: ITAT [Read Order]")
Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]
The Income Tax Appellate Tribunal, Bangalore recently granted relief to Toyota, upholding the order of a Transfer Pricing Officer ( TPO ) in which the royalty was separately benchmarked after the...
![Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Toyota-ITAT-Separate-Benchmarking-Royalty-Margin-ALP-taxscan.jpg "Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]")
ITAT Restores Trust's Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) restored the trust’s corpus donation matter for a fresh hearing due to the trust’s non-compliance caused by the lack of awareness of...
![ITAT Restores Trusts Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/TAT-Corpus-Donations-Case-Trust-Donations-Tax-Corpus-Donation-Tax-ITAT-Kolkata-Trust-Case-taxscan.jpg "ITAT Restores Trusts Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read Order]")
Failure to Consider Income Tax Assessee's Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]
In a ruling in favour of Federal Bank Ltd, the Kerala High Court held that failure of income tax authorities, by not considering a request for personal hearing of assessee has...
![Failure to Consider Income Tax Assessees Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Kerala-High-Court-Violation-of-Natural-Justice-Kerala-HC-Rules-in-favour-of-Federal-Bank-taxscan.jpg "Failure to Consider Income Tax Assessees Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]")
Karnataka HC quashes Income Tax Notice u/s 148, Grants Chance to Submit Replies before Department [Read Order]
In a recent ruling, the Karnataka High Court quashed the Income Tax notice under Section 148 of the Income Tax Act, 1961 and granted the petitioner a chance to submit replies before the income tax...
![Karnataka HC quashes Income Tax Notice u/s 148, Grants Chance to Submit Replies before Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Karnataka-HC-Income-Tax-notice-Income-Tax-Act-1961-Income-Tax-Department-TAXSCAN.jpg "Karnataka HC quashes Income Tax Notice u/s 148, Grants Chance to Submit Replies before Department [Read Order]")