The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of Rs. 52.9 lakhs as there is no Long Term Capital Gain ( LTCG ) liability, given that the

The Insolvency and Bankruptcy Code, 2016 ( IBC, 2016 ) was recommended on 31st May 2005. The code deals with time-bound proceedings, applicability and accessibilities, moratorium and suspension of the proceedings, setting up of operating

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal due to the failure to prove the genuineness of the share purchase transaction claim and the creditworthiness of the invested

In India, the government provides several tax deductions to companies in order to boost business growth. However, they are applicable for a specific list of expenses which are stated under Section 37 of Income Tax

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 April 13 to April 20 ITAT Directs Readjudication with

The Bombay High Court recently quashed and set aside Form SVLDRS 3, issued without issuance of Form SVLDRS 2 while directing the designated committee to issue Form SVLDRS 2 and afford an opportunity of personal

This weekly round-up analytically summarises the key stories of the Supreme Court & High Court cases reported at taxscan.in, from April 13th, 2024 to April 20th, 2024. SUPREME COURT Licensing of software products of Microsoft

The  Delhi bench  of Income Tax Appellate Tribunal (ITAT) allowed the bad debts claimed under Section 36(1)(vii) of Income Tax Act in respect of identified debts. The assessee E-oriental Bank of Commerce  is a Nationalized Bank.

The  Mumbai bench  of Income Tax Appellate Tribunal (ITAT)   recently ruled that purchase and sale of shares transactions could not be considered bogus when documentary evidence genuinely established. The assessee Chirag Tejprakash Dangi, herein is

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has determined that the compensation afforestation fund contributed by TATA Steel qualifies as an allowable expenditure. Mr. Nishant Thakkar

The Delhi High Court has held that interest received on compensation or enhanced compensation shall be taxable under head "Income from other sources". The court set aside the order of the Income Tax Appellate Tribunal

The Rajkot bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the addition of income as 'undisclosed income' at the hands of the husband, citing that the income was already declared by

In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that commission paid for works obtained and works sub contracted is allowable as business expenditure under Section 37

In a recent decision the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that sale deed classified as capital asset, qualifies for long-term capital gain deduction under Section 54B of Income

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.