![Income Tax Dept competent to have Interim Custody of Seized Currency Notes: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Department-Seized-Currency-Notes-Case-Interim-Custody-TAXSCAN.jpg "Income Tax Dept competent to have Interim Custody of Seized Currency Notes: Kerala HC [Read Order]")
Income Tax Dept competent to have Interim Custody of Seized Currency Notes: Kerala HC [Read Order]
The Kerala High Court has ruled that the Income Tax Department is competent to seek interim custody of currency notes seized during searches and...
![Madras HC quashes Ex-parte Income Tax Assessment Order for Passing Non-Speaking Order without Considering Submissions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Madras-High-Court-Ex-parte-Income-Tax-Assessment-Order-Income-Tax-Assessment-Taxscan.jpg "Madras HC quashes Ex-parte Income Tax Assessment Order for Passing Non-Speaking Order without Considering Submissions [Read Order]")
![Failure of CA to appear before AO Results in Ex-Parte Income Tax Assessment: Karnataka High Court quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Karnataka-High-Court-Income-Tax-Assessment-Income-Tax-Chartered-Accountant-Ex-parte-income-tax-assessment-taxscan.jpg "Failure of CA to appear before AO Results in Ex-Parte Income Tax Assessment: Karnataka High Court quashes Order [Read Order]")
Calculation of Interest Solely on Trade Receivables for ALP Determination is Unreasonable: ITAT [Read Order]
In a recent ruling, the Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that it is unreasonable to calculate interest on trade receivables solely for determining arm's length price...
![Calculation of Interest Solely on Trade Receivables for ALP Determination is Unreasonable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Hyderabad-Interest-Calculation-of-Interest-ALP-arms-length-price-Income-Tax-Appellate-Tribunal-ALP-Determination-TAXSCAN.jpg "Calculation of Interest Solely on Trade Receivables for ALP Determination is Unreasonable: ITAT [Read Order]")
Instructions and Circulars can be issued Only for Supplementing Statutory Provisions: Punjab & Haryana HC sets aside Income Tax Order Contrary to Income Tax Act [Read Order]
In a recent case, the Punjab and Haryana High Court held that instructions and circulars can be issued only for supplementing statutory provisions and set aside Income Tax Order Contrary to Income...
![Instructions and Circulars can be issued Only for Supplementing Statutory Provisions: Punjab & Haryana HC sets aside Income Tax Order Contrary to Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-tax-Income-Tax-Order-Income-Tax-Act-Statutory-Provisions-Punjab-and-Haryana-HC-taxscan.jpg "Instructions and Circulars can be issued Only for Supplementing Statutory Provisions: Punjab & Haryana HC sets aside Income Tax Order Contrary to Income Tax Act [Read Order]")
ITAT dismisses CIT(E) Appeal on Mahindra International School's Tax Exemption due to Non-Compliance with Prescribed Authority Approval u/s 143(3) [Read Order]
The Pune Bench of Income Tax Appellate Tribunal dismissed the revenue appeal on Educational Institution’s Tax Exemption due to non-compliance with the requirements prescribed under Section 143(3) of...
![ITAT dismisses CIT(E) Appeal on Mahindra International Schools Tax Exemption due to Non-Compliance with Prescribed Authority Approval u/s 143(3) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Pune-Income-Tax-Appellate-Tribunal-CITE-CITE-Appeal-Mahindra-International-School-Tax-Exemption-Section-1433-of-the-Income-Tax-Act-taxscan.jpg "ITAT dismisses CIT(E) Appeal on Mahindra International Schools Tax Exemption due to Non-Compliance with Prescribed Authority Approval u/s 143(3) [Read Order]")
Delhi HC quashes Income Tax Reassessment Advanced on Same Grounds as Prior Assessment and Order [Read Order]
The Delhi High Court recently allowed a Petition seeking to quash an impugned reassessment order issued by the Income Tax Officer, Ward-63(1), Delhi against the Financials of the Petitioner...
![Delhi HC quashes Income Tax Reassessment Advanced on Same Grounds as Prior Assessment and Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Delhi-high-court-Income-Tax-Reassessment-Prior-Assessment-and-Order-Income-Tax-Taxscan.jpeg "Delhi HC quashes Income Tax Reassessment Advanced on Same Grounds as Prior Assessment and Order [Read Order]")
Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]
In a significant ruling, the Karnataka High Court has directed the refund of Rs. 17.48 crore, which was erroneously adjusted towards an Income Tax demand, along with interest. The petitioner, LSI...
![Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Icome-Tax-Income-Tax-Demand-Karnataka-High-Court-TAXSCAN.jpg "Rs. 17.48Cr adjusted erroneously towards Income Tax Demand: Karnataka HC directs for Refund with Interest [Read Order]")
Big Update: CBDT raises Monetary Limits for Income Tax Appeals before ITAT, HC and SC, Pending Appeals below Threshold to be Withdrawn [Read Circular]
On September 17, 2024, the Central Board of Direct Taxes ( CBDT ) issued Circular No. 09/2024, which revised the monetary limits for filing income tax appeals before the Income Tax Appellate Tribunal...
![Big Update: CBDT raises Monetary Limits for Income Tax Appeals before ITAT, HC and SC, Pending Appeals below Threshold to be Withdrawn [Read Circular]](https://www.taxscan.in/wp-content/uploads/2024/09/CBDT-Central-Board-of-Direct-Taxes-Income-Tax-Appeals-Monetary-Limits-ITAT-Supreme-Court-taxscan.jpg "Big Update: CBDT raises Monetary Limits for Income Tax Appeals before ITAT, HC and SC, Pending Appeals below Threshold to be Withdrawn [Read Circular]")
![Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Jaipur-Income-Tax-Appellate-Tribunal-Income-Tax-bogus-purchases-Unverified-sellers-taxscan.jpg "Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]")