Government extends tenure of SEBI Chairman Ajit Tyagi
The Appointments Committee of the Cabinet has extended the tenure of the incumbent Securities and Exchange Board of India (SEBI) Chairman Ajit Tyagi...
![No Capital Gain Tax on Income from Relinquishment of Right: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Relinquishment-capital-gain-tax-ITAT-Taxscan.jpg "No Capital Gain Tax on Income from Relinquishment of Right: ITAT [Read Order]")
Market Value of Property reduced due to Litigation and Defect in Title, Section 50C can’t be applied: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 50C of the Income Tax Act, 1961 cannot be applied in cases where the market value of the...
![Market Value of Property reduced due to Litigation and Defect in Title, Section 50C can’t be applied: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Market-Value-ITAT-Taxscan.jpg "Market Value of Property reduced due to Litigation and Defect in Title, Section 50C can’t be applied: ITAT [Read Order]")
CBIC notifies Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020 [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) on Friday notified the Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020. They come into effect from the 31st of July,...
![CBIC notifies Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/08/sea-cargo-CBIC-Transhipment-Taxscan.jpg "CBIC notifies Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020 [Read Notification]")
Statement of College Authorities that Capitation Fee was paid in Cash can’t be used against Assessee: ITAT deletes Addition
The Income Tax Appellate Tribunal (ITAT), Delhi bench has recently deleted an addition against the assessee by observing that the addition cannot be made against the assessee solely on the basis of...
No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty cannot be imposed if the assessee has disclosed full and true material facts for assessment. The income tax...
![No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/penalty-ITAT-Escapement-Income-Assessee-Taxscan.jpg "No Penalty for ‘Escapement of Income’ if Assessee disclosed All Material Facts Fully and Truly: ITAT [Read Order]")