![Old Loans Converted into Share Allotment Cannot be Unexplained Money: ITAT deletes Addition under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/income-tax-act-ITAT-Old-Loans-Converted-unexplained-money.jpg "Old Loans Converted into Share Allotment Cannot be Unexplained Money: ITAT deletes Addition under Income Tax Act [Read Order]")
Old Loans Converted into Share Allotment Cannot be Unexplained Money: ITAT deletes Addition under Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Unexplained money under the Income Tax Act, 1961 as the...
![CIT(E) Rejects S.12ABÂ Application under Income Tax Act without providing sufficient opportunity to furnish Documents: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Raipur-Income-Tax-ITAT-Re-Adjudication-CITE-Income-Tax-Act-taxscan.jpg "CIT(E) Rejects S.12ABÂ Application under Income Tax Act without providing sufficient opportunity to furnish Documents: ITAT directs Re adjudication [Read Order]")
![Unsigned Excel Sheet without Corroboration Fails as Evidence in S. 153C Income Tax Proceedings: Gujarat HC dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Proceedings-Section-153C-Income-Tax-Act-Unsigned-Excel-Sheet-TAXSCAN.jpg "Unsigned Excel Sheet without Corroboration Fails as Evidence in S. 153C Income Tax Proceedings: Gujarat HC dismisses Revenue’s Appeal [Read Order]")
![Issuance of Reassessment Notices u/s 148 of Income Tax Act: CBDT issues Guidelines [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/07/CBDT-Income-tax-Reassessment-Notice-CBDT-notification-Central-Board-of-Direct-Taxes-taxscan.jpg "Issuance of Reassessment Notices u/s 148 of Income Tax Act: CBDT issues Guidelines [Read Notification]")
![Ignorance of Adjournment Application by First Appellate Authority: Karnataka HC quashes Income Tax Order against Toyota [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/site-img-18.jpg "Ignorance of Adjournment Application by First Appellate Authority: Karnataka HC quashes Income Tax Order against Toyota [Read Order]")
Licence Fees Received Towards Live Transmissions of Cricket Matches Held in Australia Not Taxable in India: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the licence fees received by the assessee towards live transmissions of cricket matches held in Australia are not taxable in...
![Licence Fees Received Towards Live Transmissions of Cricket Matches Held in Australia Not Taxable in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Licence-licence-fees-live-transmission-live-transmission-of-cricket-matches-cricket-cricket-match-itat-income-tax-appellate-tribunal-income-tax-income-tax-news-tax-news-cricket-news-TAXSCAN.jpg "Licence Fees Received Towards Live Transmissions of Cricket Matches Held in Australia Not Taxable in India: ITAT [Read Order]")
![Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-ITAT-Bangalore-Income-Tax-Appellate-Tribunal-Cooperative-Society-TAXSCAN.jpg "Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]")
Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]
The Kerala High Court has held that the transfer of the depreciable capital assets attracted capital gains tax under Section 45(4) of the Income Tax Act, 1961in the absence of distribution of any...
![Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Kerala-High-Court-Kerala-HC-Capital-Gains-Income-Tax-Act-Capital-Gains-Tax-Transfer-of-Depreciable-taxscan.webp "Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]")
Income Tax Recovery on Widow's Inherited Assets from Deceased Husband: Madras HC stays Appropriation from Attached Bank Account [Read Order]
In an income tax recovery case of a widow on her inherited assets from her deceased husband, the Madras High Court ordered the disposition of the objections before the Income Tax department within 4...
![Income Tax Recovery on Widows Inherited Assets from Deceased Husband: Madras HC stays Appropriation from Attached Bank Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Madras-high-court-Income-Tax-Income-Tax-Recovery-Widows-Inherited-Assets-Income-tax-news-taxscan.jpg "Income Tax Recovery on Widows Inherited Assets from Deceased Husband: Madras HC stays Appropriation from Attached Bank Account [Read Order]")
Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]
The Gujarat High Court has ruled that admission fees paid to a charitable educational trust can be considered a corpus donation and are thus eligible for exemption under Section 11(1)(d) of the...
![Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Gujarat-High-Court-Gujarat-HC-Income-Tax-Act-Income-Tax-Corpus-Donation-capitation-fee-taxscan.jpg "Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]")
Used Luxury Car Showroom Raid in Kozhikode, Kerala: Income Tax Dept unveils Rs. 102 Cr Black Money Transactions
Black money transactions totaling Rs 102 crores were uncovered in an income tax raid at a used car showroom in Kozhikode. The fraud reportedly took place at Royal Drive, owned by Malappuram native...
