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![Average Income to be Considered when Variations detected in ITR Filed by Claimant: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITR-Filed-taxscan.jpeg "Average Income to be Considered when Variations detected in ITR Filed by Claimant: Karnataka HC [Read Order]")
Average Income to be Considered when Variations detected in ITR Filed by Claimant: Karnataka HC [Read Order]
In a recent decision, the Karnataka High Court ruled that the average income is to be considered when variations are detected in income tax returns (...
![Karnataka High Court deletes Interest accrued on Non-Performing Assets from Computation of Taxable Income [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/11/Karnataka-High-Court-Interest-on-Non-Performing-Assets-Taxable-Income-Taxscan.jpg "Karnataka High Court deletes Interest accrued on Non-Performing Assets from Computation of Taxable Income [Read Judgment]")
![Mere inadequacy of an enquiry or insufficiency of material on record can’t be a ground to invoke Revisional Powers: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/Mere-inadequacy-enquiry-sufficiency-material-record-ground-invoke-Revisional-Powers-Karnataka-High-court-Taxscan.jpg "Mere inadequacy of an enquiry or insufficiency of material on record can’t be a ground to invoke Revisional Powers: Karnataka HC [Read Judgment]")
![Transfer of Intangible Assets for a valuable consideration by way of allotment of Shares is entitled to Depreciation: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/Transfer-of-intangible-assets-valuable-consideration-allotment-shares-entitled-depreciation-Karnataka-High-court-Taxscan.jpeg "Transfer of Intangible Assets for a valuable consideration by way of allotment of Shares is entitled to Depreciation: Karnataka HC [Read Judgment]")
![ITAT rightly computed the capital gains by adopting the rate of acquisition at Rs.200: Karnataka HC grants relief to Intel [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Intel-rate-acquisition-capital-gains-Taxscan.jpg "ITAT rightly computed the capital gains by adopting the rate of acquisition at Rs.200: Karnataka HC grants relief to Intel [Read Judgment]")
If Refund doesn’t include Interest due payable on the amount refunded, the revenue would be liable to pay Interest on shortfall: Karnataka HC grants relief to Syndicate Bank
The Karnataka High Court while dismissing the plea of the revenue held that the revenue is liable to pay interest on the amount of interest on refund. The assessee, Syndicate Bank is a...
Assets brought into existence for enduring benefit of business to be treated as Capital Expenditure & not Revenue Expenditure: Karnataka HC
The Karnataka High Court while upholding the order of the tribunal held that asset was brought into existence for the enduring benefit of the business and therefore, the same has to be treated as...
