ITAT Approves Rs. 4.41 Crore Deduction u/s 37 for R&D Unit Operations u/s 35(2)(AB) of Income Tax Act
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) granted deduction under Section 37 as Rs. 4.41 crore expenditure justified for Research...
![Not Every Deposit during Demonetization Period would fall under Category of Unaccounted Cash: ITAT remits to AO for fresh consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Bangalore-ITAT-news-tax-news-tax-update-Taxscan.jpg "Not Every Deposit during Demonetization Period would fall under Category of Unaccounted Cash: ITAT remits to AO for fresh consideration [Read Order]")
![Interest Income from Co-operative Banks to be considered for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Bangalore-Tax-news-I-ncome-Tax-Deduction-Taxscan.jpg "Interest Income from Co-operative Banks to be considered for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT allows Appeal [Read Order]")
![Interest not Leviable from Assessee for Short Payment of Tax due to Payers Default in TDS Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Short-payment-of-tax-due-Payers-default-TDS-deduction-TAXSCAN.jpg "Interest not Leviable from Assessee for Short Payment of Tax due to Payers Default in TDS Deduction: ITAT [Read Order]")
ITAT waives Late Fee u/s 234E of Income Tax Act, allows Appeal considering Technical Error [Read Order]
The Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) granted the assessee's appeal, acknowledging that the delay in filing the TDS return was due to a technical issue rather than negligence....
![ITAT waives Late Fee u/s 234E of Income Tax Act, allows Appeal considering Technical Error [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-waives-Late-Fee-Income-Tax-Act-Appeal-Technical-Error-taxscan.jpg "ITAT waives Late Fee u/s 234E of Income Tax Act, allows Appeal considering Technical Error [Read Order]")
Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to allow exemption under Section 11 of the Income Tax Act, 1961 acknowledging that profit derived from services...
![Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Kolkata-tax-update-Income-Tax-Act-tax-news-Taxscan.jpg "Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]")
No Corroborative Evidence to Prove that Taxpayer made any Payment of Rs. 5 crore: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of 5 crore, citing the absence of corroborative evidence to prove that the taxpayer had indeed made any payment of Rs. 5 crores. ...
![No Corroborative Evidence to Prove that Taxpayer made any Payment of Rs. 5 crore: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Income-tax-Income-tax-news-Tax-news-Corroborative-Evidence-taxscan.jpg "No Corroborative Evidence to Prove that Taxpayer made any Payment of Rs. 5 crore: ITAT deletes Addition [Read Order]")
Notice issued u/s 148 of Income Tax Act Wholly without Jurisdiction and Bad in law: ITAT quashes Reopening of Assessment [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the reopening of assessment, ruling that the notice issued under Section 148 of the Income Tax Act, 1961 was held to be...
![Notice issued u/s 148 of Income Tax Act Wholly without Jurisdiction and Bad in law: ITAT quashes Reopening of Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-mumbai-Income-Tax-Act-Section-148-of-the-Income-Tax-Act-taxscan.jpg "Notice issued u/s 148 of Income Tax Act Wholly without Jurisdiction and Bad in law: ITAT quashes Reopening of Assessment [Read Order]")
![Non-Residents Salary/Allowance for Services Rendered Abroad not Taxable in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Non-Residents-Salary-ITAT-updates-tax-in-india-Tax-updates-taxscan.jpg "Non-Residents Salary/Allowance for Services Rendered Abroad not Taxable in India: ITAT [Read Order]")
ITAT upholds Deletion of E-stamp Duty Expense Addition for Dish Infra Services' NCD Issuance [Read Order]
The Two member bench of Delhi Income Tax Appellate Tribunal (ITAT) upheld the deletion of addition made on account of expenditure incurred on e-stamp duty expenses paid towards Non-Convertible...
![ITAT upholds Deletion of E-stamp Duty Expense Addition for Dish Infra Services NCD Issuance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/E-stamp-Duty-Expense-Dish-Infra-Services-ITAT-delhi-income-tax-updates-taxscan.jpg "ITAT upholds Deletion of E-stamp Duty Expense Addition for Dish Infra Services NCD Issuance [Read Order]")
Legitimacy of Income Not Established when Investment made from Share Premium Without Noticeable Business Activity: Calcutta HC [Read Order]
The Calcutta High Court observed that the legitimacy of income not established when investment made from share premium without noticeable business activity. The assessee filed the return of income...
![Legitimacy of Income Not Established when Investment made from Share Premium Without Noticeable Business Activity: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Calcutta-high-court-Business-activity-and-share-premium-investment-business-activities-TAXSCAN.jpg "Legitimacy of Income Not Established when Investment made from Share Premium Without Noticeable Business Activity: Calcutta HC [Read Order]")