Assessment against a Non-Existent entity is nullity in the Eyes of Law: ITAT deletes addition of Rs. 2,625 Cr against Genpact India
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that framing of an assessment against a non-existent amalgamating entity was not procedural...
![AO not justified when the reasons for initiation of proceedings Seized to Survive: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/AO-ITAT-proceedings-Taxscan.jpg "AO not justified when the reasons for initiation of proceedings Seized to Survive: ITAT [Read Order]")
![Capital Gain benefit available to Only One House Post-Amendment to Section 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Capital-Gain-benefit-ITAT-Capital-Gain-Taxscan.jpg "Capital Gain benefit available to Only One House Post-Amendment to Section 54F: ITAT [Read Order]")
![ITAT directs AO to allow Depreciation on Actual Cost of Assets without reducing the amount of Subsidy to Nestle India [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Nestle-AO-ITAT-Actual-Cost-Taxscan.jpg "ITAT directs AO to allow Depreciation on Actual Cost of Assets without reducing the amount of Subsidy to Nestle India [Read Order]")
![Section 40A(2)(b) cannot be invoked merely for Unregistered Agreement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Unregistered-agreement-ITAT-Taxscan.jpg "Section 40A(2)(b) cannot be invoked merely for Unregistered Agreement: ITAT [Read Order]")
No Capital Gain Tax on Conversion of Land held as Stock, Transferred upon HUF-partition: Karnataka HC [Read Judgement]
The Karnataka High Court held that the land held as stock, transferred upon HUF-partition, doesn’t tantamount to conversion into “capital asset” for the purpose of imposing a capital gain tax under...
![No Capital Gain Tax on Conversion of Land held as Stock, Transferred upon HUF-partition: Karnataka HC [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2020/07/capital-gain-tax-HUF-partition-Land-Taxscan.jpg "No Capital Gain Tax on Conversion of Land held as Stock, Transferred upon HUF-partition: Karnataka HC [Read Judgement]")
![ITAT allows Tax Relief to Confederation of Indian Textile Industry [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Indian-Textile-industry-Tax-ITAT-Taxscan.jpg "ITAT allows Tax Relief to Confederation of Indian Textile Industry [Read Order]")
Relief to Star India: ITAT directs AO to delete the Disallowance made on Account of Depreciation on Payment of Brand License Fees [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, in its recent order directed the Assessing Officer (AO) to delete the disallowance made on account of depreciation on payment of brand license...
![Relief to Star India: ITAT directs AO to delete the Disallowance made on Account of Depreciation on Payment of Brand License Fees [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/ITAT-AO-disallowance-Star-India-brand-license-fees-Depreciation-Taxscan.jpeg "Relief to Star India: ITAT directs AO to delete the Disallowance made on Account of Depreciation on Payment of Brand License Fees [Read Order]")
ITAT confirms Addition of Rs.1.96 lakh cr in respect of Renu T. Tarani account with HSBC Private Bank Geneva [Read Order]
The Income Tax Appellate Tribunal (ITAT), while upholding the conclusions arrived at by the CIT(A), confirmed the addition of Rs.1.96 lakh crores in respect of assessee Renu T. Tarani account with...
![ITAT confirms Addition of Rs.1.96 lakh cr in respect of Renu T. Tarani account with HSBC Private Bank Geneva [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/HSBC-ITAT-Renu-T-Tarani-Taxscan.jpg "ITAT confirms Addition of Rs.1.96 lakh cr in respect of Renu T. Tarani account with HSBC Private Bank Geneva [Read Order]")
Provisions of Deemed Valid Notice not applicable to Legal Representatives: Delhi HC quashes Notice issued to Dead Person [Read Judgment]
The Delhi High Court, while quashing the notice issued to the dead person under Section 148 of the Income Tax Act, 1961, held that the provisions of section 292BB of the Income Tax Act, 1961...
![Provisions of Deemed Valid Notice not applicable to Legal Representatives: Delhi HC quashes Notice issued to Dead Person [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/07/provisions-notice-Taxscan.jpg "Provisions of Deemed Valid Notice not applicable to Legal Representatives: Delhi HC quashes Notice issued to Dead Person [Read Judgment]")
Benefit of Section 35D once granted in initial year cannot be denied in Subsequent Years, rules ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) ruled that the benefit of Section 35D of the Income Tax Act once granted in the initial year cannot be denied in subsequent years on an appeal against Asian...
![Benefit of Section 35D once granted in initial year cannot be denied in Subsequent Years, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Section-35D-ITAT-Taxscan.jpg "Benefit of Section 35D once granted in initial year cannot be denied in Subsequent Years, rules ITAT [Read Order]")
ITAT orders to grant Interest on Refund under Section 244 of the Income Tax Act, 1961 to Tata Steel [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai ordered the AO to grant interest under Section 244 of the Income Tax Act, 1961 to the Tata Steel Limited. In this case, the AO had finally adjusted...
![ITAT orders to grant Interest on Refund under Section 244 of the Income Tax Act, 1961 to Tata Steel [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/ITAT-AO-Income-Tax-Act-Tata-Steel-grant-interest-Taxscan.jpg "ITAT orders to grant Interest on Refund under Section 244 of the Income Tax Act, 1961 to Tata Steel [Read Order]")