The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest income to a cooperative society from investments with any other cooperative society is deemed allowable under Section 80P, providing relief

Salaried taxpayers nationwide have recently received SMS notifications from the Income Tax Department regarding their Total Tax Deducted at Source ( TDS ). These messages, sent to individuals, contain details about TDS deducted by employers

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to scrutinize the purchase of shares following the assessee's failure to produce the required documents.

Taxpayers filing TDS returns for Q4 (Form 24Q) and claiming standard deduction under section 16(ia) for Section 115BAC cases faced an error message. The error message states that standard deduction under section 16(ia) is not

The Madras High Court dismissed the writ petition challenging the income tax assessment order due to alleged unauthorised bank account opening and transactions. The court stated that the fact disputed cannot interfere with the power

New Financial Year, New Tax Planning Strategies The commencement of a new financial year often brings with it the need for individuals to revisit their tax planning strategies. With the onset of Financial Year 2024-25

Salaried employees have to furnish their income tax return and declare their income by July 31. As we stepped into the financial year 2024-25 on April 1, it is imperative to grasp the nuances of

The Bangalore bench Income Tax Appellate Tribunal (ITAT), while directing re-adjudication with respect to genuineness of deposit made during demonetisation period held that not every deposit during demonetisation period would not fall under category of

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) granted relief to Bank of Nova Scotia, ruling that the payment of salary to expatriate employees by the head office constitutes allowable expenditure.

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal ( ITAT ) reported at Taxscan.in during the previous week from March 26 to march 30, 2024. Depreciation Claim allowable on Vehicle

This weekly round-up analytically summarises the key stories of the Supreme Court & High Court cases reported at taxscan.in, from  March 23, 2024 to March 30, 2024. SUPREME COURT No Application of S. 71, Customs

A Single Bench of the Madras High Court imposed an interim stay on the Goods and Services Tax ( GST ) Demand on salary paid to seconded employees of the petitioner. The petitioner, in this

The Ahmedabad bench Income Tax Appellate Tribunal (ITAT)  deletes disallowance made towards the staff welfare expenses without giving opportunity. In this case the assesses Rotex Enterprises P.Ltd. is engaging in the business of being a

This is the weekly round of the Income Tax Appellate Tribunal ( ITAT ) that were published at Taxscan.in from March 16, 2024 to March 22 are analytically summarized in this Round-Up. AO blindly relied Investigation

This weekly round-up analytically summarizes the key tax judgments of the Supreme Court and all High Courts reported at Taxscan.in during March 10th to March 23rd of 2024. SUPREME COURT False Declaration under IDS to