![ITAT deletes Section 271D Penalty as Assessee Bonafidely explains Reasonable Cause [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Section-271D-Penalty-Assessee-Bonafidely-Reasonable-Cause-Taxscan.jpg "ITAT deletes Section 271D Penalty as Assessee Bonafidely explains Reasonable Cause [Read Order]")
ITAT deletes Section 271D Penalty as Assessee Bonafidely explains Reasonable Cause [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty under Section 271D of the Income Tax Act as the Assessee bonafidely...
![Peak Credit Theory to be considered before treating the Cash Deposit as Unexplained Cash Credits: ITAT remits matter back to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Peak-Credit-Theory-Cash-Deposit-Unexplained-Cash-Credits-ITAT-AO-Taxscan.jpg "Peak Credit Theory to be considered before treating the Cash Deposit as Unexplained Cash Credits: ITAT remits matter back to AO [Read Order]")
![Basic Agricultural Operations enough to classify Income from Land as ‘Agricultural Income’ under 2(1A): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Basic-Agricultural-Operations-Income-from-Land-Agricultural-Income-ITAT-Taxscan.jpeg "Basic Agricultural Operations enough to classify Income from Land as ‘Agricultural Income’ under 2(1A): ITAT [Read Order]")
![No Tax on Compensation received for loss of Trees: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/tree-Tax-Compensation-loss-of-Trees-ITAT-Taxscan.jpeg "No Tax on Compensation received for loss of Trees: ITAT [Read Order]")
![Mushroom is an ‘Agricultural Product’, No Tax on its Production: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Mushroom-Taxscan.jpg "Mushroom is an ‘Agricultural Product’, No Tax on its Production: ITAT [Read Order]")
No Relief to Virbhadra Singh: Himachal Pradesh HC dismisses CM’s Income Tax Appeal [Read Judgment]
The division bench of Himachal Pradesh High Court yesterday dismissed Income Tax Appeal filed by Himachal Chief Minister Virbhadra Singh against the order passed by the Income Tax Appellate Tribunal,...
![No Relief to Virbhadra Singh: Himachal Pradesh HC dismisses CM’s Income Tax Appeal [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/12/Virbhadra-Singh.jpg "No Relief to Virbhadra Singh: Himachal Pradesh HC dismisses CM’s Income Tax Appeal [Read Judgment]")
SC upholds Levy of Dividend Distribution Tax on Companies having Agricultural Income [Read Judgment]
A two judge bench of the Supreme Court, last week, held that levy of dividend distribution tax (DDT) on Companies having agricultural income under section 115O of the Income Tax Act is not ultra vires...
![SC upholds Levy of Dividend Distribution Tax on Companies having Agricultural Income [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "SC upholds Levy of Dividend Distribution Tax on Companies having Agricultural Income [Read Judgment]")
Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]
A division bench of the Kolkata ITAT, on Wednesday held that any income accrues on compulsory acquisition of agricultural land it is to be regarded as agricultural income and not chargeable to tax...
![Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]")
Income from Turnkey- Contract of Plantation would not constitute ‘Agricultural Income’: Bombay HC [Read Judgment]
Denying income tax exemption to The Forest Development Corporation of Maharashtra Limited, a division bench of the Bombay High Court held that income from turnkey- contract of plantation would not...
![Income from Turnkey- Contract of Plantation would not constitute ‘Agricultural Income’: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Income from Turnkey- Contract of Plantation would not constitute ‘Agricultural Income’: Bombay HC [Read Judgment]")
No Relief to Himachal CM Virabhadra Singh, HC dismisses petition against Income Tax Department’s Re-Assessment Order [Read Judgment]
The division bench of Himachal Pradesh High Court has dismissed the petitions filed by Himachal Pradesh Chief Minister Virabhadra Singh, his wife Pratibha and son Vikramaditya challenging the orders...
![No Relief to Himachal CM Virabhadra Singh, HC dismisses petition against Income Tax Department’s Re-Assessment Order [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/12/Virabhadra-Singh-Taxscan.jpg "No Relief to Himachal CM Virabhadra Singh, HC dismisses petition against Income Tax Department’s Re-Assessment Order [Read Judgment]")