![Interest Received on Compensation or Enhanced Compensation shall be Taxable under Head Income from other sources: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Delhi-High-Court-Delhi-HC-Interest-Received-on-Compensation-taxscan.jpg "Interest Received on Compensation or Enhanced Compensation shall be Taxable under Head Income from other sources: Delhi HC [Read Order]")
Interest Received on Compensation or Enhanced Compensation shall be Taxable under Head "Income from other sources": Delhi HC [Read Order]
The Delhi High Court has held that interest received on compensation or enhanced compensation shall be taxable under head "Income from other...
![CBDT Circular on Deposition of Assessed Tax Applicable when Appeal against Assessment Order under Income Tax Act lies only before ITAT: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/CBDT-Circular-Assessed-Tax-CBDT-Circular-on-Deposition-of-Assessed-Tax-Appeal-taxscan.jpg "CBDT Circular on Deposition of Assessed Tax Applicable when Appeal against Assessment Order under Income Tax Act lies only before ITAT: Kerala HC [Read Order]")
![Income already declared by Wife: ITAT quashes Addition as Undisclosed Income at the Hands of Husband [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Rajkot-Income-Tax-Undisclosed-Income-TAXSCAN.jpg "Income already declared by Wife: ITAT quashes Addition as Undisclosed Income at the Hands of Husband [Read Order]")
![Surrender of Additional Professional Income Covering Expenditure Incurred on Building: ITAT deletes Addition u/s 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Income-tax-income-professional-income-taxscan-.jpg "Surrender of Additional Professional Income Covering Expenditure Incurred on Building: ITAT deletes Addition u/s 69 of Income Tax Act [Read Order]")
![Form 26 AS or Form 16 Essential for TDS Credit Claim: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Mumbai-ITAT-Income-Tax-TDS-Credit-Claim-TDS-Tax-Deducted-at-Source-Form-16-ITAT-Taxscan.jpg "Form 26 AS or Form 16 Essential for TDS Credit Claim: ITAT Directs Re-adjudication [Read Order]")
Jurisdictional notice u/s 143(2) of Income Tax Act issued beyond prescribed limitation period: ITAT quashes Assessment Order [Read Order]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the assessment order due to the jurisdictional notice under Section 143(2) of the Income Tax Act,...
![Jurisdictional notice u/s 143(2) of Income Tax Act issued beyond prescribed limitation period: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Ahmedabad-Income-Tax-Assessment-order-TAXSCAN.jpg "Jurisdictional notice u/s 143(2) of Income Tax Act issued beyond prescribed limitation period: ITAT quashes Assessment Order [Read Order]")
Sponsorship Fee paid to Trust found more Personal Obligation of Director, Not a Business Expenditure: ITAT confirms Disallowance of Rs.15L [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) confirmed the disallowance of Rs. 15 lakhs for sponsorship fees paid to a trust, as it was deemed to be a personal obligation of the director rather than a...
![Sponsorship Fee paid to Trust found more Personal Obligation of Director, Not a Business Expenditure: ITAT confirms Disallowance of Rs.15L [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-Income-Tax-Sponsorship-Fee-Personal-Obligation-of-Director-TAXSCAN.jpg "Sponsorship Fee paid to Trust found more Personal Obligation of Director, Not a Business Expenditure: ITAT confirms Disallowance of Rs.15L [Read Order]")
Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that commission paid for works obtained and works sub contracted is allowable as business expenditure under...
![Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Commission-Paid-for-Works-Business-Expenditure-Commission-Paid-for-Works-Obtained-and-Sub-Contracted-ITAT-taxscan.jpg "Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]")
Determination of Income in Assessment Order cannot be basis for Filing of ITR u/s 139 (1): ITAT Quashes Penalty u/s 271 F of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) quashes penalty under Section 271F of the Income Tax Act, stating that determination of income in the assessment order cannot serve as the basis for filing...
![Determination of Income in Assessment Order cannot be basis for Filing of ITR u/s 139 (1): ITAT Quashes Penalty u/s 271 F of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Labor-Expenses-Capitalised-Land-value-No-Deduction-claimed-P-L-Account-ITAT-deletes-taxscan.jpg "Determination of Income in Assessment Order cannot be basis for Filing of ITR u/s 139 (1): ITAT Quashes Penalty u/s 271 F of Income Tax Act [Read Order]")
Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.74 crore after finding that labor expenses capitalized in land value did not warrant deduction claimed in...
![Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Labor-Expenses-Capitalised-Land-value-No-Deduction-claimed-in-P-L-Account-ITAT-taxscan.jpg "Labor Expenses Capitalised in Land value, No Deduction claimed in P & L Account: ITAT deletes Addition of 1.74 crore [Read Order]")
Relief to Indian Oil Employees Welfare: ITAT rules Interest Income to Cooperative Society from Investment with any Other Cooperative Society Deemed allowable u/s 80P [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest income to a cooperative society from investments with any other cooperative society is deemed allowable under...
![Relief to Indian Oil Employees Welfare: ITAT rules Interest Income to Cooperative Society from Investment with any Other Cooperative Society Deemed allowable u/s 80P [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Cooperative-Society-Indian-Oil-taxscan.jpg "Relief to Indian Oil Employees Welfare: ITAT rules Interest Income to Cooperative Society from Investment with any Other Cooperative Society Deemed allowable u/s 80P [Read Order]")
Form No. 10AB Timeline Extension for S.12A Recognition is Deemed Extension for Approval Renewal u/s 80G (iii) First Provison of Income Tax Act: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) noted that the extension timeline provided in Form No. 10AB for Section 12A recognition was deemed to be an extension for the approval...
![Form No. 10AB Timeline Extension for S.12A Recognition is Deemed Extension for Approval Renewal u/s 80G (iii) First Provison of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Form-No.-10AB-Timeline-Extension-S.12A-Recognition-Deemed-Extension-Approval-Renewal-First-Provison-Income-Tax-ITAT-taxscan.jpg "Form No. 10AB Timeline Extension for S.12A Recognition is Deemed Extension for Approval Renewal u/s 80G (iii) First Provison of Income Tax Act: ITAT [Read Order]")