![Assessee could not Recall Details of Income within Specified time due to Old Age: ITAT Quashes Addition u/s 115BBE [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessee-Recall-Assessee-could-not-Recall-Details-of-Income-Income-Old-Age-ITAT-taxscan-1.jpg "Assessee could not Recall Details of Income within Specified time due to Old Age: ITAT Quashes Addition u/s 115BBE [Read Order]")
Assessee could not Recall Details of Income within Specified time due to Old Age: ITAT Quashes Addition u/s 115BBE [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) quashed the addition under Section 115BBE of the Income Tax Act, 1961 which states...
![Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-Exempt-Income-Computing-Normal-Provisions-Income-Tax-Act-ITAT-taxscan.jpg "Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]")
![No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-addition-Income-Tax-Act-Income-Business-Consultancy-Service-ITAT-taxscan.jpg "No addition shall be made u/s section 44ADA of Income Tax Act towards Income earned from Business of Consultancy Service: ITAT [Read Order]")
![Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Investments-yielded-exempt-Income-considered-for-purpose-of-working-out-Disallowance-ITAT-Aditya-Birla-TAXSCAN.jpg "Investments that had yielded exempt Income shall be considered for purpose of working out Disallowance under rule 8D(2): ITAT grants Relief to Aditya Birla [Read Order]")
![Escapement Of Income not Reflected and Material Facts truly and Fully discussed at the time of Original Assessment: ITAT Sets aside Reopening after 4 years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Escapement-Of-Income-not-Reflected-and-Material-Facts-truly-and-Fully-discussed-time-of-Original-Assessment-ITAT-Reopening-TAXSCAN.jpg "Escapement Of Income not Reflected and Material Facts truly and Fully discussed at the time of Original Assessment: ITAT Sets aside Reopening after 4 years [Read Order]")
ITAT directs to Estimate 25% Profit Towards Income from Sale of Milk Products Deposited in Bank During Demonetisation Period [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai Bench directed to estimate 25% profit towards income from sale of milk products deposited in banks during the demonetisation period. Kannan...
![ITAT directs to Estimate 25% Profit Towards Income from Sale of Milk Products Deposited in Bank During Demonetisation Period [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-directs-to-Estimate-25-Profit-Towards-Income-from-Sale-of-Milk-Products-ITAT-Profit-Sale-of-Milk-Products-Demonetisation-Period-Taxscan.jpg "ITAT directs to Estimate 25% Profit Towards Income from Sale of Milk Products Deposited in Bank During Demonetisation Period [Read Order]")
No TDS u/s 195 of Income Tax Act when No Income Chargeable to Tax Arose on Non-Resident: Delhi HC upholds Order of ITAT [Read Order]
The Delhi High Court has held that no Tax Deductible at Source (TDS ) under section 195 of the Income Tax Act when no income chargeable to tax arose on non-resident and upheld the order of the Income...
![No TDS u/s 195 of Income Tax Act when No Income Chargeable to Tax Arose on Non-Resident: Delhi HC upholds Order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/TDS-Income-Tax-Act-Income-Tax-Arose-Non-Resident-Delhi-HC-upholds-Order-of-ITAT-Delhi-High-Court-ITAT-taxscan.jpg "No TDS u/s 195 of Income Tax Act when No Income Chargeable to Tax Arose on Non-Resident: Delhi HC upholds Order of ITAT [Read Order]")
Surrendered Income will be treated as Income from Medical Profession unless there is clear Evidence to the contrary: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) has ruled that surrendered income will be treated as income from the medical profession unless there is clear evidence to the contrary...
![Surrendered Income will be treated as Income from Medical Profession unless there is clear Evidence to the contrary: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Surrendered-Income-Income-from-Medical-Profession-Evidence-to-the-contrary-Evidence-ITAT-taxscan.jpg "Surrendered Income will be treated as Income from Medical Profession unless there is clear Evidence to the contrary: ITAT [Read Order]")
Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that capital profits, which do not have component of income, are to be excluded while computing Book Profits under section 115JB. ...
![Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Loss-on-sale-of-Investment-Investment-sale-of-Investment-Book-Profits-Capital-Profits-computing-book-profits-ITAT-Taxscan.jpg "Loss on sale of Investment could not be reduced from Book Profits u/s 115JB for Capital Profits which do not have component of Income are to be excluded while computing book profits: ITAT [Read Order]")
CBDT inserts new Rule 11UACA for Computation of Income Chargeable to Tax u/s 56(2)(xiii) for amount Received under Life Insurance Policy [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification number G.S.R. 604(E) issued on 16th August 2023 has inserted a new Rule 11UACA in Income Tax Rules, 1962 for the Computation of Income...
Relief to UT Starcom: Profit Income from sale of Software not in nature of Royalty Income and cannot be Attributed to Permanent Establishment in India: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal held that no interest under section 234B of the Act can be charged as the assessee, being a non-resident company was not liable to pay advance...
![Relief to UT Starcom: Profit Income from sale of Software not in nature of Royalty Income and cannot be Attributed to Permanent Establishment in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-UT-Starcom-Profit-Income-from-sale-of-Software-nature-of-royalty-income-Attributed-to-Permanent-Establishment-in-India-ITAT-TAXSCAN.jpg "Relief to UT Starcom: Profit Income from sale of Software not in nature of Royalty Income and cannot be Attributed to Permanent Establishment in India: ITAT [Read Order]")
Income received by India Cements from BCCI as Central rights is Revenue sharing: CESTAT sets aside Service Tax Demand [Read Order]
In a significant case, the Chennai bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) set aside the demand for service tax. It was held that the income received by India...
![Income received by India Cements from BCCI as Central rights is Revenue sharing: CESTAT sets aside Service Tax Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/India-Cements-Income-India-Cements-from-BCCI-BCCI-Central-rights-is-Revenue-sharing-Central-rights-Revenue-sharing-CESTAT-sets-aside-Service-Tax-Demand-CESTAT-Service-Tax-Demand-Service-Tax-taxscan.jpg "Income received by India Cements from BCCI as Central rights is Revenue sharing: CESTAT sets aside Service Tax Demand [Read Order]")