![Expenditure incurred by Addition to Buildings and Electrical Fittings on Leasehold Premises is Capital Expenditure: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/kerala-High-Court-First-Appellate-Authority-Income-Tax-Department-Addition-to-buildings-Addition-to-electrical-fittings-taxscan.jpeg "Expenditure incurred by Addition to Buildings and Electrical Fittings on Leasehold Premises is Capital Expenditure: Kerala HC [Read Order]")
Expenditure incurred by Addition to Buildings and Electrical Fittings on Leasehold Premises is Capital Expenditure: Kerala HC [Read Order]
In a recent decision a division bench of the Kerala High Court ruled that the expenditure incurred by way of addition to buildings and electrical...
![Date of Acquisition of New Property must be Date of Possession: ITAT allows Deduction under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Property-tax-Income-tax-act-ITAT-mumbai-New-properties-TAXSCAN.jpg "Date of Acquisition of New Property must be Date of Possession: ITAT allows Deduction under Income Tax Act [Read Order]")
![Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Delhi-ITAT-disallows-Section-54-Income-Tax-Act-Taxpayer-Fails-to-Construct-Residential-House-taxscan.jpeg "Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]")
![Approval Granted u/s 153 D clearly indicates Approving Authority neither Examined Assessment Records nor Seized Materials: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Section-153D-Income-tax-act-Assessment-Order-Assessment-records-ITAT-taxscan.jpg "Approval Granted u/s 153 D clearly indicates Approving Authority neither Examined Assessment Records nor Seized Materials: ITAT quashes Assessment Order [Read Order]")
![JCIT issues Penalty Order under Income Tax Act beyond Limitation, Deemed Invalid: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/JCIT-Income-Tax-Income-Tax-Act-ITAT-ITAT-Delhi-taxscan.jpg "JCIT issues Penalty Order under Income Tax Act beyond Limitation, Deemed Invalid: ITAT deletes Penalty [Read Order]")
Benefits of 80P Deduction denied due to Non-filing of Income Tax Returns on Prescribed Time: Kerala HC directs to File ITR [Read Order]
In a recent case, the Kerala High Court has held that benefits of Income Tax,1961 deduction under Section 80 (P) were denied due to non-filing of Income Tax Return ( ITR ) on prescribed time. The...
![Benefits of 80P Deduction denied due to Non-filing of Income Tax Returns on Prescribed Time: Kerala HC directs to File ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-Tax-Returns-Kerala-High-Court-Section-80-P-Benefits-of-80P-Deduction-80P-Deduction-denied-taxscan.jpg "Benefits of 80P Deduction denied due to Non-filing of Income Tax Returns on Prescribed Time: Kerala HC directs to File ITR [Read Order]")
Delay in deciding Stay application against Income Tax Assessment Order: Kerala HC directs NFAC to decide within 2 Months [Read Order]
The Kerala High Court directed the National Faceless Assessment Centre ( NFAC ) to decide within 2 months as there was a delay in deciding to stay the application against the Income Tax assessment...
![Delay in deciding Stay application against Income Tax Assessment Order: Kerala HC directs NFAC to decide within 2 Months [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Kerala-High-Court-Assessment-Order-Income-Tax-Assessment-Order-NFAC-Income-Tax-Taxscan.jpg "Delay in deciding Stay application against Income Tax Assessment Order: Kerala HC directs NFAC to decide within 2 Months [Read Order]")
Are you a House Wife having Savings Deposit? Know Income Tax Exemption for Savings Deposit by House Wives
The Income Tax Act provides individuals different exemptions and deductions to reduce taxable income. Income tax deductions and exemptions apply to housewives. Housewives are generally not taxed...
Assessment/Reassessment in a Search-Related Case Cannot Be Passed Without Proper Approval by Competent Authority: ITAT [Read Order]
In a significant case, the Income Tax Appellate Tribunal ( ITAT ) of the New Delhi bench held that assessment or reassessment in a search-related case cannot be passed without proper approval of the...
![Assessment/Reassessment in a Search-Related Case Cannot Be Passed Without Proper Approval by Competent Authority: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-income-tax-income-tax-ITAT-delhi-Search-related-case-Competent-authority-TAXSCAN.jpg "Assessment/Reassessment in a Search-Related Case Cannot Be Passed Without Proper Approval by Competent Authority: ITAT [Read Order]")
Claim u/s 80M of Income Tax Act Allowable when Deduction of Amount was Equal to Dividend Distributed within Due Date:Â ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) held that claim under Section 80M of Income Tax Act, 1961 is allowable when deduction of amount was equal to dividend distributed...
![Claim u/s 80M of Income Tax Act Allowable when Deduction of Amount was Equal to Dividend Distributed within Due Date:Â ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Kolkata-Dividend-Distributed-Income-Tax-Act-Section-80M-of-Income-Tax-Act-Taxscan.jpg "Claim u/s 80M of Income Tax Act Allowable when Deduction of Amount was Equal to Dividend Distributed within Due Date:Â ITAT [Read Order]")
![‘Transit Rent cannot be Taxed as Revenue Receipt: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Bombay-High-Court-Revenue-Receipt-Transit-Rent-cannot-be-Taxed-Transit-Rent-Bombay-HC-Tax-news-Taxscan.jpeg "‘Transit Rent cannot be Taxed as Revenue Receipt: Bombay HC [Read Order]")
Treating Cash Deposit During Demonetization as unexplained cash without rejecting Books of account is Invalid: ITAT [Read Order]
In a recent case, the New Delhi of the Income Tax Appellate Tribunal ( ITAT ) held that treating the cash deposit as unexplained cash without rejecting the books of account is invalid. Pilani...
![Treating Cash Deposit During Demonetization as unexplained cash without rejecting Books of account is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Appellate-Tribunal-ITAT-delhi-Cash-Deposit-taxscan.jpg "Treating Cash Deposit During Demonetization as unexplained cash without rejecting Books of account is Invalid: ITAT [Read Order]")