![No Penalty If ALP was determined as per section 92C in Good Faith and with Due Diligence: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "No Penalty If ALP was determined as per section 92C in Good Faith and with Due Diligence: ITAT Delhi [Read Order]")
No Penalty If ALP was determined as per section 92C in Good Faith and with Due Diligence: ITAT Delhi [Read Order]
A division bench of the Delhi ITAT, last week held that penalty under section 271(1)(c ) of the Income Tax Act, 1961 cannot be levied if the Arm’s...
Cancellation of Registration Granted to Trust u/s 12AA(3) of the Income Tax Act has no Retrospective Effect: Delhi High Court [Read Judgment]
The Delhi High court has held that the provision for cancellation of registration granted to charitable trust under section 12AA (3) of the Income Tax Act, 1961 has no retrospective effect. The...
![Cancellation of Registration Granted to Trust u/s 12AA(3) of the Income Tax Act has no Retrospective Effect: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Cancellation of Registration Granted to Trust u/s 12AA(3) of the Income Tax Act has no Retrospective Effect: Delhi High Court [Read Judgment]")
First Appellate Authority can’t add a new source of Income which was not considered in Original Assessment: Kerala HC [Read Judgment]
The Kerala High Court recently ruled that the first appellate authority, under section 251 of the Income Tax Act, 1961 has no power to make additions regarding new source of income which was not...
![First Appellate Authority can’t add a new source of Income which was not considered in Original Assessment: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/10/Assessment-Taxscan.jpg "First Appellate Authority can’t add a new source of Income which was not considered in Original Assessment: Kerala HC [Read Judgment]")
Rectification u/s 55 of TN General Sales Tax Act is possible in case of a Revised Assessment: Madras HC [Read Judgment]
Justice T.S Sivagnanam of Madras High Court, while hearing a writ petition filed by M/s Maxtherm Technologies Private Limited, held that the power to rectify an error under section 55 of the Tamil...
![Rectification u/s 55 of TN General Sales Tax Act is possible in case of a Revised Assessment: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Rectification u/s 55 of TN General Sales Tax Act is possible in case of a Revised Assessment: Madras HC [Read Judgment]")
Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]
The High Court of New Delhi including Justice Mr.Sanjiv Khanna and Ms.Prathiba M.Singh quashed the reassessment order of the revenue by holding that the Assessing Officer cannot disallow any claim...
![Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Re-Assessment-Taxscan.jpg "Disallowance under Rule 8D cannot be made merely on ground of ‘Change of Opinion’: Delhi HC [Read Judgment]")
Co-Operative Societies can claim 80P Deduction If do not have banking license from the RBI and is providing Credit facilities only to its Members: ITAT [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) observed that the benefit of sec 80P of the Income Tax Act is available to co-operative societies who do not have banking license from RBI...
![Co-Operative Societies can claim 80P Deduction If do not have banking license from the RBI and is providing Credit facilities only to its Members: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Co-Operative Societies can claim 80P Deduction If do not have banking license from the RBI and is providing Credit facilities only to its Members: ITAT [Read Order]")