[BREAKING] Relief to Jindal Steel & Power: Supreme Court upholds deletion of Addition made on Payment to SK Gupta and Group of Companies [Read Order]
In a major relief to Jindal Steel and Power Ltd, the Supreme Court has upheld the deletion of addition made on payments made to S K Gupta and group...
![Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Investment-Income-Tax-Act-TAXSCAN.jpg "Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]")
![Rates for power made available through Indian Energy Exchange are not applicable to consumers; rather, they are rates to DISCOM: ITAT deletes TP Adjustment against Tata Steel [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Tata-Steel-TP-Adjustment-against-Tata-Steel-income-tax-taxscan.jpg "Rates for power made available through Indian Energy Exchange are not applicable to consumers; rather, they are rates to DISCOM: ITAT deletes TP Adjustment against Tata Steel [Read Order]")
![PCIT has no Jurisdiction to Revise Assessment u/s 263 of the Income Tax Act When Assessment Order Attained Finality by Court Order: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Madras-High-Court-Assessment-Order-Court-Order-Jurisdiction-taxscan.jpg "PCIT has no Jurisdiction to Revise Assessment u/s 263 of the Income Tax Act When Assessment Order Attained Finality by Court Order: Madras HC [Read Order]")
![Denial of Exemption to Non-Resident on Failure to Produce Tax Residency Certificate Despite Best Efforts at Assessment / Appellate stage: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Denial-of-Exemption-to-Non-Resident-Tax-Residency-Certificate-Despite-Assessment-Appellate-ITAT-directs-Re-Adjudication-taxscan.jpg "Denial of Exemption to Non-Resident on Failure to Produce Tax Residency Certificate Despite Best Efforts at Assessment / Appellate stage: ITAT directs Re-Adjudication [Read Order]")
ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that since the assessee has paid the interest to the unsecured loan creditors on opening balances the order of the Commissioner of Income...
![ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-Deletion-of-Disallowance-of-interest-on-unsecured-loans-Deletion-of-Disallowance-of-interest-interest-to-unsecured-loan-creditors-opening-balances-taxscan.jpg "ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]")
Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that Income Tax is not leviable on award received on the compulsory acquisition of the agricultural land of partnership firm. The...
![Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-Tax-Award-received-on-Compulsory-Acquisition-of-Agricultural-Land-of-Partnership-Firm-ITAT-Agricultural-Land-of-Partnership-Firm-Award-received-Agricultural-Land-Partnership-Firm-taxscan.jpg "Income Tax is not Leviable on Award received on Compulsory Acquisition of Agricultural Land of Partnership Firm: ITAT [Read Order]")
No Additions can be made u/s 68 of Income Tax Act when the Identities of lenders are Proved and loans are Repaid: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that no additions can be made under Section 68 of the Income Tax Act, 1961 when the identities of the lenders are proved and loans...
![No Additions can be made u/s 68 of Income Tax Act when the Identities of lenders are Proved and loans are Repaid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/of-Income-Tax-Act-Identities-of-lenders-are-Proved-loans-are-Repaid-ITAT-taxscan.jpg "No Additions can be made u/s 68 of Income Tax Act when the Identities of lenders are Proved and loans are Repaid: ITAT [Read Order]")
Delay of 10 days in Filing ITR cannot Vitiate FTC Claim for Income Earned Outside India: ITAT Restores Matter for De Novo Consideration [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that, a delay of 10 days in filing return cannot vitiate the Foreign Tax Credit (FTC) claimed to the extent of income earned outside...
![Delay of 10 days in Filing ITR cannot Vitiate FTC Claim for Income Earned Outside India: ITAT Restores Matter for De Novo Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Delay-of-10-days-in-Filing-ITR-FTC-Claim-for-Income-Earned-Outside-India-Filing-ITR-ITR-FTC-Claim-ITAT-Restores-Matter-for-De-Novo-Consideration-Filing-ITR-taxscan.jpg "Delay of 10 days in Filing ITR cannot Vitiate FTC Claim for Income Earned Outside India: ITAT Restores Matter for De Novo Consideration [Read Order]")
Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer to grant the credit of Tax deducted at source (TDS) of Rs. 40.43 crores to the Reliance Infrastructure Limited....
![Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Relief-to-Reliance-Infrastructure-Limited-ITAT-TAXSCAN.jpg "Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]")