Income Tax
residential house - ITAT - Taxscan
3:59 pm

ITAT allows Deduction u/s 54F as assessee didn’t own more than one Residential House [Read Order]

ITAT - Mitsui - Taxscan

Mitsui India isn’t a DAPE of Mitsui & Co. so no further profit could be attributed: ITAT [Read Order]

ITR 6 - Taxscan

ITR 6 is now available for AY 2020-21: All you need to know

ITAT - HDFC Sales - Taxscan

ITAT upheld provisions in statement of accounts under 31 heads of expenses for one month made by HDFC Sales [Read Order]

Haier - ITAT - AMP - Taxscan

No addition for AMP transactions in absence of International Transaction between Taxpayer and AE: ITAT grants relief to Haier [Read Order]

Income Tax Returns - Verification - CBDT - Taxscan

CBDT allows One-time relaxation for Verification of Income Tax Returns by EVC/ITR-V for AY 2015-16, 2016-17, 2017-18, 2018-19

Oman International Bank - ITAT - disallowance - Income earned assessee - Taxscan

Disallowance can’t be more than the Income earned by assessee: ITAT grants relief to Oman International Bank [Read Order]

Disallowance - Interest Expenditure - Investments - Loan - Taxscan

No Disallowance of Interest Expenditure if Interest-Free Funds are more than Value of Investments and Loan Funds haven’t used to make Investments: ITAT

Madras High Court - capital gain deduction - Taxscan

Advance given for Purchase of Flat prior to Sale of Asset eligible for Capital Gain Deduction: Madras High Court [Read Judgment]

ITAT - Balaji Telefilms - Penalty - Taxscan

ITAT deletes Penalty against Balaji Telefilms on grounds of non-specific charges [Read Order]

ITAT - Sponsorship - Promotional income - Marketing Cost -Orion- Taxscan

Relief to Orion Mall: ITAT deletes addition of Sponsorship and Promotional Income reduced from Marketing Cost [Read Order]

ITAT - ICICI Bank - Penalty - Taxscan

ITAT confirms deletion of Penalty against ICICI Bank [Read Order]

Lok Sabha - Taxation - Other Laws - Taxscan

Lok Sabha passes The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 [Read Bill]

Preludesys India - Taxscan

AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]

original assessment - reassessment proceedings - Madras High Court - Taxscan

No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]

ITAT - CIT(A) - Tax Audit - Taxscan

ITAT condones delay since misplacing of CIT(A) order by regular Tax Consultant isn’t deliberate delay on part of assessee [Read Order]

CBDT - compulsory selection - complete scrutiny - faceless assessment - Taxscan

CBDT lays out Guidelines for Compulsory Selection of Returns for Complete Scrutiny under Faceless Assessment for FY 2020-21 [Read Circular]

ITAT - Virtual Hearing - Taxscan

ITAT disposes of more than 5000 cases in Virtual hearing

LTCG - Tax - Taxscan

Start-up Funding likely to get attractive: Parliamentary panel Suggests Abolishing LTCG Tax on Start-up Investments

ITAT- ratification - challenging intimation - Infosys - Taxscan

No Restriction in challenging intimation passed on ratification of mistake without challenging intimation passed under Sec 200A: ITAT grants relief to Infosys

Assessing Officer - Madras High Court - windmill - Taxscan

Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]

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