![Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]")
Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]
In a recent case, the Calcutta High Court held that in the absence of a cross-border insolvency framework, Indian courts do not recognize or enforce...
![Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-Tax-news-TAXSCAN.jpg "Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]")
![Taxpayer provides proper explanation and Documentary Evidence for Agricultural Income: ITAT deletes addition of Rs.16.4 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/tax-news-taxpayer-agriculture-income-itat-itat-news-Income-Tax-Appellate-Tribunal-explanation-and-Documentary-Evidence-for-Agricultural-Income-TAXSCAN.jpg "Taxpayer provides proper explanation and Documentary Evidence for Agricultural Income: ITAT deletes addition of Rs.16.4 Lakhs [Read Order]")
![Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Appeal-Kerala-High-Court-Kerala-HC-Legal-Consultant-TAXSCAN-1.jpg "Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]")
![Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Income-Tax-Mouth-Freshener-Mouth-freshener-Without-Tobacco-taxscan-1.jpg "Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]")
Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]
The Gujarat High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to allow income tax deduction for payment made to clear a mortgage, dismissing the appeal filed by the...
![Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Deduction-Income-Tax-TAXSCAN.jpg "Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]")
Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]
In a recent case, the Calcutta High Court Upheld the ITAT order which held that the application of a net profit rate of 8% on gross receipts under contract is valid unless illegality is proven. ...
![Non-Deduction of TDS u/s 40(a)(ia) of Income Tax Act: ITAT confirms Addition of Rs 10.8 Lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-TDS-Non-Deduction-of-TDS-Income-Tax-Appellate-Tribunal-Tax-Deducted-at-Source-TDS-Non-Deduction-taxscan.png "Non-Deduction of TDS u/s 40(a)(ia) of Income Tax Act: ITAT confirms Addition of Rs 10.8 Lakhs [Read Order]")
Relief to Alembic Ltd: Gujarat HC allows Rs. 4 cr Income Tax Deduction u/s 80IA for Captive Power Plant [Read Order]
In a recent ruling, the Gujarat High Court allowed an income tax deduction of Rs. 4 crores under Section 80IA for the captive power plant of M/s Alembic Ltd. at Baroda. The court upheld the decision...
![Relief to Alembic Ltd: Gujarat HC allows Rs. 4 cr Income Tax Deduction u/s 80IA for Captive Power Plant [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-Income-Tax-Deduction-Income-Tax-Appellate-Tribunal-Gujarat-High-Court-TAXSCAN.jpg "Relief to Alembic Ltd: Gujarat HC allows Rs. 4 cr Income Tax Deduction u/s 80IA for Captive Power Plant [Read Order]")
ITAT cannot Place Reliance on Order of ITSC in Previous Years: Delhi HC restores Additions [Read Order]
The Delhi High Court has ruled that the order of the Income Tax Settlement Commission ( ITSC ) is final and conclusive for the assessment year ( AY ) for which the application was filed. The bench...
![ITAT cannot Place Reliance on Order of ITSC in Previous Years: Delhi HC restores Additions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Reliance-on-Order-ITSC-Previous-Years-Delhi-HC-taxscan.jpg "ITAT cannot Place Reliance on Order of ITSC in Previous Years: Delhi HC restores Additions [Read Order]")
Relief to Vi: No TDS Deductible under Income Tax Act on Payments Received by Distributors/Franchisees From Third Parties/Customers, Rules Calcutta HC [Read Order]
In a significant case, the Calcutta High Court has held that Tax deducted at source ( TDS ) under the Income Tax Act is not deductible on payments received by distributors/franchisees from third...
![Relief to Vi: No TDS Deductible under Income Tax Act on Payments Received by Distributors/Franchisees From Third Parties/Customers, Rules Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Vi-vodafone-idea-tds-tax-deducted-at-source-income-tax-income-tax-act-tds-deductible-under-income-tax-act-calcutta-hc-calcutta-high-court-1-1.jpg "Relief to Vi: No TDS Deductible under Income Tax Act on Payments Received by Distributors/Franchisees From Third Parties/Customers, Rules Calcutta HC [Read Order]")