![Re-Assessment proceedings initiated beyond period of 4 years from end of relevant AY: ITAT sets aside proceedings u/s 147 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Ahmedabad-Reassessment-Reassessment-proceedings-Income-Tax-Tax-news-TAXSCAN.jpg "Re-Assessment proceedings initiated beyond period of 4 years from end of relevant AY: ITAT sets aside proceedings u/s 147 of Income Tax Act [Read Order]")
Re-Assessment proceedings initiated beyond period of 4 years from end of relevant AY: ITAT sets aside proceedings u/s 147 of Income Tax Act [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the reassessment proceedings initiated under Section 147 of the...
![Income Tax Addition on Amount already Surrendered by Partnership Firm in Settlement Application accepted by Settlement Commission: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Tax-Addition-Amount-Surrendered-Partnership-Firm-Settlement-Application-accepted-Settlement-Commission-ITAT-Dismisses-Appeal-TAXSCAN.jpg "Income Tax Addition on Amount already Surrendered by Partnership Firm in Settlement Application accepted by Settlement Commission: ITAT Dismisses Appeal [Read Order]")
![Expense on account of Interest on Margin facility and late Payment to Brokers, Not in Nature of Penalty: ITAT allows Disallowance u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Expense-Interest-Expense-on-account-of-Interest-Expense-on-account-of-Interest-on-Margin-facility-ITAT-taxscan.jpg "Expense on account of Interest on Margin facility and late Payment to Brokers, Not in Nature of Penalty: ITAT allows Disallowance u/s 37(1) [Read Order]")
![Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Land-Sold-Assessee-Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Sets-aside-Income-Tax-TAXSCAN.jpg "Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]")
Income from Charitable Activities reflected as "Income from Other Sources" by mere Punching Error: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) grants an exemption under Section 11 of the Income Tax Act, 1961 as the income from charitable activities was reflected as income from...
![Income from Charitable Activities reflected as Income from Other Sources by mere Punching Error: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-Charitable-Activities-Income-Other-Sources-Punching-Error-ITAT-grants-exemption-Income-Tax-Act-taxscan.jpg "Income from Charitable Activities reflected as Income from Other Sources by mere Punching Error: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]")
Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has allowed the gratuity premium paid towards the Life Insurance Corporation (LIC) holding that the contribution made towards fund is...
![Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Contribution-Towards-fund-Business-Expenditure-Allowable-Income-Tax-Act-Unapproved-Income-Tax-Department-ITAT-Allows-Gratuity-Premium-Towards-LIC-taxscan.jpg "Contribution made Towards fund is Business Expenditure, Allowable u/s 37(1) of Income Tax Act even if fund was Unapproved by Income Tax Department: ITAT Allows Gratuity Premium Towards LIC [Read Order]")
Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be "Void Ab Initio": ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment order passed in the name of a non-existent entity after getting intimation of amalgamation shall be void ab...
![Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Non-Existent-Entity-Intimation-of-Amalgamation-ITAT-taxscan.jpg "Assessment Order passed in Name of Non-Existent Entity after getting Intimation of Amalgamation shall be Void Ab Initio: ITAT [Read Order]")
Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Children-Education-Helper-Uniform-attire-Reimbursement-Purview-Income-Tax-Act-ITAT-Deletes-Income-Tax-Addition-such-Perquisites-TAXSCAN.jpg "Children Education, Helper & Uniform attire Reimbursement comes under the Purview of Section 10(14) of Income Tax Act : ITAT Deletes Income Tax Addition under such Perquisites [Read Order]")
Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Act Appellate Tribunal (ITAT) held that children education, helper & uniform attire reimbursement, the same are coming under the purview of Section 10(14) of the...
![Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-for-Deduction-Interest-Expenditure-Income-Tax-Act-Lawful-Assessee-Established-Borrowed-Funds-Interest-bearing-Advances-ITAT-TAXSCAN.jpg "Claim for Deduction of Interest Expenditure u/s 57 of Income Tax Act is Lawful as Assessee established the borrowed Funds were used for Interest bearing Advances: ITAT [Read Order]")
Dividend Income not to be Included in Total Income and is Exempt from Tax when the Shares are Held as "Stock-in-trade": ITAT upholds Application of Section 14A of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that Section 14A of Income Tax Act,1961 applies when shares are held as “stock -in-trade” for the purpose to trade in those shares and...
![Dividend Income not to be Included in Total Income and is Exempt from Tax when the Shares are Held as Stock-in-trade: ITAT upholds Application of Section 14A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Dividend-Income-Total-Income-and-is-Exempt-from-Tax-when-the-Shares-Stock-in-trade-ITAT-upholds-Application-Income-Tax-Act-.jpg "Dividend Income not to be Included in Total Income and is Exempt from Tax when the Shares are Held as Stock-in-trade: ITAT upholds Application of Section 14A of Income Tax Act [Read Order]")
Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that taking separate exemption for claiming contribution to the gratuity fund was not needed as approval granted to master trust...
![Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Taking-Separate-Exemption-Exemption-Contribution-Taking-Separate-Exemption-for-Claiming-Contribution-to-Gratuity-Gratuity-ITAT-taxscan.jpg "Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]")