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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
The Income Tax Appellate Tribunal (ITAT) Bangalore bench while remitting the matter back to the Assessing Officer (AO) said that if the interest-free...
![MCA notifies CA Jyoti Chouhan as Chairperson of Quality Review Board [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/09/Accountants-MCA-CA-Jyoti-Chouhan-Quality-Review-Board-Taxscan.jpg "MCA notifies CA Jyoti Chouhan as Chairperson of Quality Review Board [Read Notification]")
![Madras High Court directs Authority to make available the Scrutiny Report submitted by Superintendent to petitioner [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/TVS-Scrutiny-Report-Madras-High-Court-Taxscan.jpg "Madras High Court directs Authority to make available the Scrutiny Report submitted by Superintendent to petitioner [Read Order]")
Parliament clears The Banking Regulation (Amendment) Bill, 2020 gives RBI powers to restructure Co-operative Banks [Read Bill]
After Lok Sabha, the Rajya Sabha has also passed the Banking Regulation (Amendment) Bill, 2020. The Bill amends the Banking Regulation Act, 1949. The Act regulates the functioning of banks...
![Parliament clears The Banking Regulation (Amendment) Bill, 2020 gives RBI powers to restructure Co-operative Banks [Read Bill]](https://www.taxscan.in/wp-content/uploads/2020/09/Parliament-Banking-Regulation-Amendment-Bill-Co-operative-Banks-Taxscan.jpeg "Parliament clears The Banking Regulation (Amendment) Bill, 2020 gives RBI powers to restructure Co-operative Banks [Read Bill]")
AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]
The Madras High Court while answering in favour of the Preludesys India said that the Tribunal erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another...
![AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Preludesys-India-Taxscan.jpeg "AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]")
No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]
Madras High Court held that no review on the original assessment order is permissible in the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961. The respondent...
![No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/original-assessment-reassessment-proceedings-Madras-High-Court-Taxscan.jpg "No Review on Original Assessment Order is permissible in the Reassessment proceedings initiated: Madras HC [Read Judgment]")
