![No Misreporting in PF and Cess Deduction Claims Made in Good Faith: ITAT quashes 84 Lakhs S.270 Penalty under Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Misreporting-PF-Cess-Deduction-Claims-ITAT-Penalty-Income-Tax-taxscan.jpeg "No Misreporting in PF and Cess Deduction Claims Made in Good Faith: ITAT quashes 84 Lakhs S.270 Penalty under Income Tax [Read Order]")
No Misreporting in PF and Cess Deduction Claims Made in Good Faith: ITAT quashes 84 Lakhs S.270 Penalty under Income Tax [Read Order]
Recently in a ruling the Income Tax Appellate Tribunal (ITAT) Bangalore quashed an ₹84 lakh penalty imposed on a company for under-reporting income...
![Citizenship & Taxability of NRI cannot be determined by TDS Deduction by Overseas Companies in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Citizenship-and-Taxability-of-NRI-cannot-be-determined-by-TDS-Deduction-Citizenship-and-Taxability-of-NRI-NRI-TDS-Deduction-by-Overseas-Companies-in-India-TDS-Deduction-TDS-ITAT-Taxscan.jpg "Citizenship & Taxability of NRI cannot be determined by TDS Deduction by Overseas Companies in India: ITAT [Read Order]")
![Assessee claimed Deduction under Wrong Section,Tax Department cant take advantage on the Right of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Assessee-claimed-Deduction-under-Wrong-Section-Tax-Department-advantage-on-the-Right-of-Assessee-ITAT-TAXSCAN.jpg "Assessee claimed Deduction under Wrong Section,Tax Department cant take advantage on the Right of Assessee: ITAT [Read Order]")
Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Ms. Suchitra Kamble, (Judicial Member) and Shri Waseem Ahmed (Accountant Member) has observed that the consideration...
![Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Transfer-of-Marketing-Distribution-Rights-Veterinary-Products-Joint-Venture-ITAT-taxscan.jpeg "Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint Venture: ITAT [Read Order]")
Provisions of Deemed Dividend does not attract If Loans & Advances in Normal Business benefits both Payer and Payee: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Rajkot bench consisting of Waseem Ahmed, Accountant Member and T. R. Senthil Kumar, Judicial Member held that loans and advances given in normal course of...
![Provisions of Deemed Dividend does not attract If Loans & Advances in Normal Business benefits both Payer and Payee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Deemed-Dividend-Normal-Business-Payer-Payee-ITAT-taxscan.jpeg "Provisions of Deemed Dividend does not attract If Loans & Advances in Normal Business benefits both Payer and Payee: ITAT [Read Order]")
No Prohibition in NRI accepting Cash Gift from Relatives, Addition cannot be made merely stating that the practice is 'Unusual': ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that there is no prohibition in law in accepting of cash gifts by NRIs from the family members and the addition cannot be made by...
![No Prohibition in NRI accepting Cash Gift from Relatives, Addition cannot be made merely stating that the practice is Unusual: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/NRI-Cash-Gift-unusual-ITAT-taxscan.jpeg "No Prohibition in NRI accepting Cash Gift from Relatives, Addition cannot be made merely stating that the practice is Unusual: ITAT [Read Order]")
Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the capital gain exemption under section 54 of the Income Tax Act, 1961 can be allowed on bonafide expenses incurred incurred for...
![Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/CapitalGain-Bonafide-Expenses-ITAT-Taxscan.jpg "Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]")
Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax department cannot treat the same income received as sale consideration from the same property by co-owners...
![Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-Tax-Dept-Sale-of-Property-ITAT-taxscan.jpeg "Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]")