![Income Tax Officer has No Power to Exercise Revisional Jurisdiction: Allahabad HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/09/Allahabad-High-Court-Taxscan.jpg "Income Tax Officer has No Power to Exercise Revisional Jurisdiction: Allahabad HC [Read Judgment]")
Income Tax Officer has No Power to Exercise Revisional Jurisdiction: Allahabad HC [Read Judgment]
The Allahabad High Court has ruled that the revisional jurisdiction cannot be exercised by the Income Tax Officer under the provisions of section 263...
![Non-Speculative Business Loss can be set off against Business Income of Assessee: Allahabad HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Loss-Taxscan.jpg "Non-Speculative Business Loss can be set off against Business Income of Assessee: Allahabad HC [Read Judgment]")
![Interest Received on FDRs before the Commencement of Business constitute ‘Other Income’: HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest Received on FDRs before the Commencement of Business constitute ‘Other Income’: HC [Read Judgment]")
Addition for Unexplained Expenditure is not mandatory even if no Explanation is offered or it is found to be Unsatisfactory: HC [Read Judgment]
A division bench of the Allahabad High Court, in Pr. Commissioner Of Income Tax, Varanasi v. Late Rama Shankar Yadav, held that addition in respect of unexplained expenditure under section 69A of the...
![Addition for Unexplained Expenditure is not mandatory even if no Explanation is offered or it is found to be Unsatisfactory: HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Expenditures-TAXSCAN.jpg "Addition for Unexplained Expenditure is not mandatory even if no Explanation is offered or it is found to be Unsatisfactory: HC [Read Judgment]")
Proceedings against Banks for Non-Deduction of Tax: SC to Examine Whether NOIDA is a Corporation or Not
Against the order of the Allahabad High Court deleting proceedings against the banks for non -deduction of TDS on the interest income on fixed deposit receipts (FDRs) of NOIDA, the Supreme Court will...
No IT Deduction If Assessee purchases Another entities’ Business Unit including plant & Machinery to Form a Separate Industrial Undertaking: Allahabad HC
A division bench of the Allahabad High Court recently ruled that the benefit of Section 80IB of the Income Tax Act, 1961 is not available to assessee for the purchase of business unit including plant...
Co-Operative Banks engaged in Banking Business are Eligible for Income Tax Deduction: Allahabad HC [Read Order]
While dismissing a departmental appeal, a division bench of the Allahabad High Court recently observed that deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961 can be allowed to...
Allahabad HC confirms Misconduct by CA for using Name in the Prospectus to Mislead Investors after Resignation from Company [Read Order]
While confirming the recommendation of the ICAI Disciplinary Committee to suspend a Chartered Accountant for three months, a division bench of the Allahabad High Court held that using the name of a...
Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]
A division bench of the Allahabad High Court, on Thursday, directed the Goods and Services Tax (GST) authorities to not to initiate penal actions against a Firm on ground of non-filing of GST returns...
![Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/GST-Returns-Taxscan.jpg "Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]")
![Allahabad HC disallows Claim of Expenditure incurred on Guest House after Cut of date [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Guest-House-Expenditure-Taxscan.jpg "Allahabad HC disallows Claim of Expenditure incurred on Guest House after Cut of date [Read Order]")