![Capital Gain Exemption u/s 54F not available for Purchase of Office Premises: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Capital-Gain-Exemption-54F-Purchase-of-Office-Premises-ITAT-Taxscan.jpeg "Capital Gain Exemption u/s 54F not available for Purchase of Office Premises: ITAT [Read Order]")
Capital Gain Exemption u/s 54F not available for Purchase of 'Office Premises': ITAT [Read Order]
The Pune bench of the ITAT has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available if the sale...
![Donations are Lifeline of Charitable Trust: AO cannot deny Approval without verifying Activities, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Bangalore-Donations-Lifeline-Charitable-Trust-AO-ITAT-Taxscan.jpeg "Donations are Lifeline of Charitable Trust: AO cannot deny Approval without verifying Activities, rules ITAT [Read Order]")
![ITAT quashes Order since AO has failed to provide the Copies of relied Statements [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Order-AO-reliedStatement-ITAT-TAXSCAN.jpeg "ITAT quashes Order since AO has failed to provide the Copies of relied Statements [Read Order]")
![R&D Activity in Biotechnology Services would be treated as ‘Computer Software’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Computer-Software-ITAT.jpg "R&D Activity in Biotechnology Services would be treated as ‘Computer Software’: ITAT [Read Order]")
![ITAT upholds Section 54 Deduction as Handing Over of Possession was delayed due to Builder’s Fault, Assessee fulfilled all Statutory Requirements [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/section-54-of-the-Income-Tax-Act-itat.jpg "ITAT upholds Section 54 Deduction as Handing Over of Possession was delayed due to Builder’s Fault, Assessee fulfilled all Statutory Requirements [Read Order]")
No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that no disallowance can be made for interest expenses if the investment was made to acquire the controlling interest in the...
![No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Disallowance-of-Interest-Expenses-Investment-acquire-controlling-interest-ITAT.jpg "No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]")
![ITAT allows write off of Bad Debts as assessee has successfully discharged its Onus of Proof [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Bad-Debts-Onus-of-Proof-write-off-Taxscan.jpg "ITAT allows write off of Bad Debts as assessee has successfully discharged its Onus of Proof [Read Order]")
ITAT deletes Disallowance as prior period Expenses as Assessee paid and accounted for Expenses in Books of Accounts [Read Order]
The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) has deleted the Disallowance as prior period expenses as assessee paid and accounted for the expenses in the books of accounts. The...
Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) has held that the depreciation being statutory allowance cannot be restricted on the basis of personal use. The assessee, Bhagchand Jain is...
![Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Depreciation-statutory-allowance.jpg "Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]")
Delhi HC dismisses appeal against deletion of Addition for Share Premium or Bogus Purchases or Cash deposits in Bank as no challenge was made to evidence [Read Judgment]
The Delhi High Court has dismissed the appeal against deletion of addition for share premium or bogus purchases or Cash deposits in bank as no challenge was made to evidence. The assessee, Agson...
![Delhi HC dismisses appeal against deletion of Addition for Share Premium or Bogus Purchases or Cash deposits in Bank as no challenge was made to evidence [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/01/Cash-Deposit-Delhi-High-Court-Cash-deposited-Taxscan.jpeg "Delhi HC dismisses appeal against deletion of Addition for Share Premium or Bogus Purchases or Cash deposits in Bank as no challenge was made to evidence [Read Judgment]")
Reassessment Proceedings can’t be initiated on Mere Change of Opinion: Orissa High Court [Read Judgment]
The Orissa High Court held that the reassessment proceedings cannot be initiated on mere change of opinion. The Petitioner, Jagannath Promoters is a partnership firm. It filed its return for the...
![Reassessment Proceedings can’t be initiated on Mere Change of Opinion: Orissa High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/10/Reassessment-Proceedings-Orissa-High-Court-Taxscan.jpeg "Reassessment Proceedings can’t be initiated on Mere Change of Opinion: Orissa High Court [Read Judgment]")
ITAT deletes Penalty since Statutory condition of citing specific reasons are not provided by AO [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty proceedings under section 271(1)(c) of the Income Tax Act, 1961 cannot be survived if the Assessing Officer does...
![ITAT deletes Penalty since Statutory condition of citing specific reasons are not provided by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/ITAT-Penalty-AO-Taxscan.jpg "ITAT deletes Penalty since Statutory condition of citing specific reasons are not provided by AO [Read Order]")