Income Tax Dept busts 200 Cr Dubai Hawala Money Trade-in attempt for Election spends at Chennai Airport
Ahead of the Lok Sabha elections, the Income Tax department has intercepted an attempt to channel Rs 200 crore of hawala money into Tamil Nadu,...
![Petitioner already submitted Requisite Documents for Certificate u/s 80G of Income Tax Act: Kerala HC quashes impugned Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Kerala-High-Court-Kerala-HC-Income-Tax-Act-Income-Tax-Section-80G-of-Income-Tax-Act-Kerala-HC-80G-Certificate-Case-Taxscan.jpg "Petitioner already submitted Requisite Documents for Certificate u/s 80G of Income Tax Act: Kerala HC quashes impugned Order [Read Order]")
![Pendency of Alternate Remedy under Income Tax Act: Kerala HC grants interim relief to Assessee from Recovery Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Income-tax-news-Kerala-High-Court-Alternate-Remedy-Income-Tax-taxscan.jpg "Pendency of Alternate Remedy under Income Tax Act: Kerala HC grants interim relief to Assessee from Recovery Proceedings [Read Order]")
![Dissatisfaction to be Recorded by AO regarding Correctness of Claim of Assessee Relating to Expenditure u/s 14A(2) of Income Tax Act: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-regarding-Correctness-of-Claim-of-Assessee-Expenditure-us-14A2-Income-Tax-Act-Bombay-HC-TAXSCAN.jpg "Dissatisfaction to be Recorded by AO regarding Correctness of Claim of Assessee Relating to Expenditure u/s 14A(2) of Income Tax Act: Bombay HC [Read Order]")
![CBDT grants Income Tax Exemption to Amul Research and Development Association in Gujarat u/s 35(1)(ii) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/04/CBDT-Income-Tax-Exemption-Amul-Research-and-Development-Association-Amul-Taxscan.jpg "CBDT grants Income Tax Exemption to Amul Research and Development Association in Gujarat u/s 35(1)(ii) [Read Notification]")
![Share profit From Partnership Firm exempted u/s 10 (2A) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Share-profit-us-10-2A-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Share profit From Partnership Firm exempted u/s 10 (2A) of Income Tax Act: ITAT [Read Order]")
AO cannot Pass Final Assessment Order without Passing Draft as Prescribed u/s 144C (1) of Income Tax Act: ITAT quashes Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) quashed Assessing Officer ( AO )’s final assessment order for failing to pass draft as required under Section 144C(1) of the...
![AO cannot Pass Final Assessment Order without Passing Draft as Prescribed u/s 144C (1) of Income Tax Act: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-Pass-Final-Assessment-Order-Prescribed-us-144C-1-of-Income-Tax-Act-ITAT-Order-TAXSCAN.jpg "AO cannot Pass Final Assessment Order without Passing Draft as Prescribed u/s 144C (1) of Income Tax Act: ITAT quashes Order [Read Order]")
Deemed Rental Income applicable to Self Occupied Properties u/s 23 (4) of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT) observed that deemed rental income applicable to self-occupied properties under Section 23 (4) of Income Tax Act, 1961. The assessee...
![Deemed Rental Income applicable to Self Occupied Properties u/s 23 (4) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Deemed-Rental-Income-Properties-us-23-4-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Deemed Rental Income applicable to Self Occupied Properties u/s 23 (4) of Income Tax Act: ITAT [Read Order]")
Material /document Uncovered during Search Raises no doubt or suspicion against Taxpayer: ITAT deletes addition u/s 153A [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 153A of the Income Tax Act, 1961 as material uncovered during search raises no doubt or suspicion against...
![Material /document Uncovered during Search Raises no doubt or suspicion against Taxpayer: ITAT deletes addition u/s 153A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Material-document-Uncovered-Search-Raises-no-doubt-suspicion-Taxpayer-ITAT-taxscan.jpg "Material /document Uncovered during Search Raises no doubt or suspicion against Taxpayer: ITAT deletes addition u/s 153A [Read Order]")
AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) set aside assessing officers decision under Section 56(2) (x) of the Income Tax Act, 1961 due to failure to consider sale consideration...
![AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-fails-Sale-Consideration-of-Immovable-Property-Sale-Agreement-Stamp-Duty-Valuation-ITAT-Income-Tax-Act-taxscan.jpg "AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]")
Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the waiver of loan for acquiring capital assets cannot be taxed as a perquisite under Section 28 (iv)...
![Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Waiver-of-Loan-TAXSCAN.jpg "Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]")