![Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/500x300_2090163-tat-mumbai-income-tax-act-penalty-taxscanjpge.webp "Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]")
Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai, has remanded a penalty dispute involving concealment of income and inaccurate particulars under ...
![Depreciation on Goodwill Arising from Amalgamation Allowed in Book Profits: ITAT Rules in Favour of S.C. Johnson Pvt. Ltd. [Read Order]](https://images.taxscan.in/h-upload/2025/09/15/250x150_2087510-depreciation-on-goodwill-arising-goodwill-arising-book-profits-taxscan.webp "Depreciation on Goodwill Arising from Amalgamation Allowed in Book Profits: ITAT Rules in Favour of S.C. Johnson Pvt. Ltd. [Read Order]")
![Relief for Bank of Baroda: ITAT Rules MAT Provisions u/s 115JB Not Applicable [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Bank-of-Baroda-Income-Tax-Act-Tax-Liability-taxscan.jpg "Relief for Bank of Baroda: ITAT Rules MAT Provisions u/s 115JB Not Applicable [Read Order]")
![ITAT Dismisses Revenue’s Appeal, Rules S.14A Disallowance Not Applicable to Oriental Insurance [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Delhi-Oriental-Insurance-case-updates-TAXSCAN.jpg "ITAT Dismisses Revenue’s Appeal, Rules S.14A Disallowance Not Applicable to Oriental Insurance [Read Order]")
![ITAT Quashes Reassessment as AO Fails to Address Objections in Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Reassessment-as-AO-Address-Objections-Proceedings-taxscan.jpg "ITAT Quashes Reassessment as AO Fails to Address Objections in Proceedings [Read Order]")
Gains from Excluded Capital Assets not included as Book Profits u/s 115JB Not Liable to be included as Income: Delhi HC [Read Order]
The Delhi High Court recently held that gains accrued from capital assets entitled to statutory exemption that have not been included to ‘book profits’ under Section 115JB of the Income Tax Act, 1961...
![Gains from Excluded Capital Assets not included as Book Profits u/s 115JB Not Liable to be included as Income: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Capital-Assets-Delhi-High-Court-Section-115JB-Income-Tax-Act-Delhi-High-Court-Ruling-Book-Profit-Calculation-Delhi-HC-Tax-Liability-Exclusion-Capital-Assets-taxscan.jpg "Gains from Excluded Capital Assets not included as Book Profits u/s 115JB Not Liable to be included as Income: Delhi HC [Read Order]")
Reserve Transfers by NBFCs under RBI Act not Allowable Deduction in Computing Assessable Income: Madras HC [Read Order]
The Statutory Reserves transferred by the Non-Banking Financial Companies ( NBFCs ) under the Reserve Bank of India ( RBI ) Act is not allowable deduction computing assessable income under the...
Banking Companies Exempt from Minimum Alternate Tax u/s 115JB from AY 2013-14: ITAT rules in favour of Canara Bank [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favor of Canara Bank that Banking Companies are exempted from Minimum Alternate Tax ( MAT ) under Section 115JB of the Income...
![Banking Companies Exempt from Minimum Alternate Tax u/s 115JB from AY 2013-14: ITAT rules in favour of Canara Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Canara-Bank-Minimum-Alternate-Tax-Section-115JB-Income-Tax-Act-MAT-exemption-for-banks-taxscan-1.jpg "Banking Companies Exempt from Minimum Alternate Tax u/s 115JB from AY 2013-14: ITAT rules in favour of Canara Bank [Read Order]")
Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-competitive fee received by the assessee is treated as 'revenue receipt' in the hands of the assessee but only...
![Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-mumbai-Income-tax-appellate-tribunal-income-tax-news-Finance-act-TAXSCAN.jpg "Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]")
No Violation found by SEBI on Broker or Taxpayer w.r.t alleged CCM Transactions: ITAT directs AO to Delete Addition of Rs. 4.38 lakhs [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 4.38 lakhs, as no violation was found by the Securities and...
Relief to Tata Steel Limited: ITAT allows deduction of Interest on PNCD in Computation Book Profit u/s 115JB of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) grants relief to Tata Steel Limited by allowing deduction of interest on Perpetual Non-Convertible Debentures ( PNCD ) in the...
![Relief to Tata Steel Limited: ITAT allows deduction of Interest on PNCD in Computation Book Profit u/s 115JB of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Mumbai-ITAT-Income-tax-Income-tax-news-Tata-Steel-taxscan.jpg "Relief to Tata Steel Limited: ITAT allows deduction of Interest on PNCD in Computation Book Profit u/s 115JB of Income Tax Act [Read Order]")