![No Capital Gain Tax on Amount Received by Retiring Partner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Capital-Gain-Taxscan.jpg "No Capital Gain Tax on Amount Received by Retiring Partner: ITAT [Read Order]")
No Capital Gain Tax on Amount Received by Retiring Partner: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) held that a retiring partner took only money towards the value of his share on retirement and when there was...
![Wrong Classification of Income won’t alter True Character of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/04/WhatsApp-Image-2020-04-23-at-3.05.02-PM.jpeg "Wrong Classification of Income won’t alter True Character of Income: ITAT [Read Order]")
![Addition can’t be sustained on the basis of Statements: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/stock-in-shares-Dividend-ITAT-Taxscan.jpg "Addition can’t be sustained on the basis of Statements: ITAT [Read Order]")
![Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-7-5.jpg "Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]")
Any Amount Paid in pursuance of a Declaration made under Vivad se Vishwas Scheme shall not be Refundable under any Circumstances: CBDT
The Central Board of Direct Taxes ( CBDT ) has clarified that any amount paid pursuance of a declaration made under Vivad se Vishwas Scheme shall not be refundable under any circumstances. The CBDT...
Assessing Officer couldn’t undertake Complete Scrutiny without seeking permission from Competent Authority: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench held that the assessing officer couldn’t undertake complete scrutiny without seeking permission from the competent authority. In the case of...
![Assessing Officer couldn’t undertake Complete Scrutiny without seeking permission from Competent Authority: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Assessing-Officer-ITAT-Taxscan.jpg "Assessing Officer couldn’t undertake Complete Scrutiny without seeking permission from Competent Authority: ITAT [Read Order]")
If Direct Tax Case is Pending in Arbitration without Appeal is eligible to apply under Vivad se Vishwas Scheme: CBDT
The Central Board of Direct Taxes clarified that if the Direct Tax case is pending in Arbitration without appeal pending is eligible to apply under Vivad se Vishwas Scheme. An assessee whose case is...
Re-Assessment Notice should contain a 'Reason to believe' with supporting Evidence: Delhi HC [Read Judgment]
The Delhi High Court held that assessing officer can initiate the notice for re-assessment with the reasons to believe and with reference to any fresh tangible material. The writ petitions under...
![Re-Assessment Notice should contain a Reason to believe with supporting Evidence: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-3-1.jpg "Re-Assessment Notice should contain a Reason to believe with supporting Evidence: Delhi HC [Read Judgment]")
Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that expenses on account of interest payment on loans could not be added while computing book profit. On verification of the balance sheet, it...
![Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Interest-Payment-Loans-Account-Expenses-ITAT-Taxscan.jpg "Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]")
ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Ahmedabad held that General Deduction allowable on Legal and Professional Fees incurred for the improvement of day to day working of Company. During the...
![ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/ITAT-Legal-Deduction-Legal-Professsional-Fees-Taxscan.jpg "ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]")