![Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078144-deduction-us-80p2d-of-income-tax-banking-business-taxscan.webp "Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]")
Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]
The Calcutta High Court has held that interest earned on surplus lending funds is attributable to banking business and allowable for deduction under...
![ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/250x150_2078048-itat-income-tax-paid-cash-loans-taxscan.webp "ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]")
![Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/250x150_2078058-search-assessments-valid-approved-by-jcit-itat-incriminating-materials-taxscan.webp "Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]")
![Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/250x150_2078053-retd-ias-demonetization-cash-deposit-itat-applies-tax-us-115bbe-taxscan.webp "Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]")
ITAT remands Matter back to AO for Determination Fair Market Value Valuation in Distress Sale [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has set aside the assessment for Satya Pal Khurana, directing the Assessing Officer (AO) to re-evaluate the fair market value of a shop sold...
![ITAT remands Matter back to AO for Determination Fair Market Value Valuation in Distress Sale [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2077974-itat-ao-fair-market-value-taxscan.webp "ITAT remands Matter back to AO for Determination Fair Market Value Valuation in Distress Sale [Read Order]")
No TDS on Franchise Payments u/s 194J: ITAT upholds Deletion of ₹59.11 Lakh Income Tax Demand [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, has held that payments made by a liquor manufacturing company to brand owners under the head “Franchise Expenses” do not constitute “fees for...
![No TDS on Franchise Payments u/s 194J: ITAT upholds Deletion of ₹59.11 Lakh Income Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2077871-franchise-payment-taxscan.webp "No TDS on Franchise Payments u/s 194J: ITAT upholds Deletion of ₹59.11 Lakh Income Tax Demand [Read Order]")
ITAT Wrongly Dismisses Stay Petition on 20% Pre-Deposit Condition already Removed by High Court: Kerala HC Quashes Order [Read Order]
In a recent ruling, the Kerala High Court held that the Income Tax Appellate Tribunal committed a serious error in dismissing a stay petition on the ground of non-payment of a 20% pre-deposit, even...
![ITAT Wrongly Dismisses Stay Petition on 20% Pre-Deposit Condition already Removed by High Court: Kerala HC Quashes Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2077861-predeposit-condition-taxscan.webp "ITAT Wrongly Dismisses Stay Petition on 20% Pre-Deposit Condition already Removed by High Court: Kerala HC Quashes Order [Read Order]")
ITAT imposes ₹2k cost for unexplained delay in filing appeal and remands matter to AO for fresh adjudication of disallowance issue [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has imposed a cost of ₹2,000 on M/s. Udai Lal Mahabir Prasad for failing to explain the delay in filing its appeal and remanded the ...
![ITAT imposes ₹2k cost for unexplained delay in filing appeal and remands matter to AO for fresh adjudication of disallowance issue [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077540-itat-unexplained-delay-unexplained-delay-in-filing-appeal-taxscan.webp "ITAT imposes ₹2k cost for unexplained delay in filing appeal and remands matter to AO for fresh adjudication of disallowance issue [Read Order]")
Mere Disallowance of Capitalized Interest Not Misreporting: ITAT deletes Income Tax Penalty u/s 270A [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the penalty imposed under section 270A of the Income Tax Act, 1961, and held that mere disallowance of the capitalized ...
![Mere Disallowance of Capitalized Interest Not Misreporting: ITAT deletes Income Tax Penalty u/s 270A [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077533-mere-disallowance-capitalized-interest-itat-income-tax-penalty-taxscan.webp "Mere Disallowance of Capitalized Interest Not Misreporting: ITAT deletes Income Tax Penalty u/s 270A [Read Order]")