![Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Life-Insurance-Business-Financial-Statement-IRDA-regulations-Taxation-ITAT-grants-relief-HDFC-Life-Insurance-TAXSCAN.jpg "Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]")
Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to HDFC Life Insurance Company and held that when the life insurance...
![Municipal Tax allowable as expenditure u/s 24 of Income Tax Act when Assessee paid proportionate Tax to Society: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Municipal-Tax-allowable-expenditure-Income-Tax-Act-Assessee-paid-proportionate-Tax-Society-ITAT-TAXSCAN.jpg "Municipal Tax allowable as expenditure u/s 24 of Income Tax Act when Assessee paid proportionate Tax to Society: ITAT [Read Order]")
![ITAT deletes Penalty u/s 271B for the assessee being able to establish reasonable cause behind their failure deserves to be considered u/s 274 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Penalty-assessee-being-able-establish-reasonable-cause-behind-failure-deserves-taxscan.jpg "ITAT deletes Penalty u/s 271B for the assessee being able to establish reasonable cause behind their failure deserves to be considered u/s 274 [Read Order]")
![Compensation received by Echjay Industries on account of Defective Product cannot be adjusted with WDV of Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Compensation-Echjay-Industries-account-Defective-Product-adjusted-WDV-Assets-ITAT-TAXSCAN.jpg "Compensation received by Echjay Industries on account of Defective Product cannot be adjusted with WDV of Assets: ITAT [Read Order]")
![Penalty u/s 271B of Income Tax Act shall not be imposed unless Assessee has been given a Reasonable Opportunity of being heard: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Income-Tax-Act-Assessee-Reasonable-Opportunity-heard-ITAT-TAXSCAN.jpg "Penalty u/s 271B of Income Tax Act shall not be imposed unless Assessee has been given a Reasonable Opportunity of being heard: ITAT [Read Order]")
Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271B of the Income Tax Act 1961, would not be leviable when the assessee engaged in the business of...
![Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Leviable-Assessee-engaged-business-trading-financing-reality-commodities-Maintained-Books-Accounts-ITAT-TAXSCAN.jpg "Penalty u/s.271B not Leviable when Assessee engaged in business of trading, financing, reality and commodities had not Maintained Books of Accounts: ITAT [Read Order]")
Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the claim of deduction under Section 80P (2) of Income Tax Act 1961 by cooperative society could not be denied on breach of...
![Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Deduction-Income-Tax-Act-by-Co-op-Society-Deduction-Breach-of-Principle-of-Mutuality-Violation-of-Bye-Law-ITAT-taxscan.jpg "Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]")
Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) confirmed the Commissioner of Income Tax (Appeals) [CIT(A)] order of deletion of addition made by Assessing Officer (AO) on account of the...
![Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Future-Generali-India-Life-Insurance-ITAT-Deletion-of-Income-Tax-Addition-on-Profits-from-Pension-Funds-Deletion-of-Income-Tax-Addition-Pension-Funds-Profits-from-Pension-Funds-taxscan.jpg "Relief to Future Generali India Life Insurance: ITAT confirms Deletion of Income Tax Addition on Profits from Pension Funds [Read Order]")
![Relief to Shell India: ITAT Quashes Demand of Rs 105.7crores on Ground of Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-Shell-India-ITAT-Demand-Ground-Limitation-TAXSCAN.jpeg "Relief to Shell India: ITAT Quashes Demand of Rs 105.7crores on Ground of Limitation [Read Order]")
Mere Non-production of Evidence by the Creditor of Assessee doesn't result in Addition of Income: ITAT allows Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that mere non-production of evidence by the creditor of the assessee doesn’t result in the addition of income. The assessee is a...
![Mere Non-production of Evidence by the Creditor of Assessee doesnt result in Addition of Income: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Non-production-Evidence-Creditor-Assessee-result-Addition-Income-ITAT-Appeal-TAXSCAN.jpg "Mere Non-production of Evidence by the Creditor of Assessee doesnt result in Addition of Income: ITAT allows Appeal [Read Order]")
Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that additional income tax pay by domestic companies to resident shareholders should be at the rate mentioned under Section 115-O of...
![Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Income-Tax-pay-Domestic-Company-Resident-Shareholder-shall-at-rate-mentioned-Section-Income-Tax-Act-ITAT-TAXSCAN.jpg "Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]")
ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) for deleting the addition made by the assessing officer on account of an...
![ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Uphold-Delete-Addition-Assessing-officer-Unsecured-Loan-Non-submission-genuine-Documents-ITAT-income-tax-taxscan.jpg "ITAT Upholds Deletion of Addition made on Account of Unsecured Loan due to Failure to Produce Genuine Documents [Read Order]")