![Income Tax Refund cannot be withheld on ground that Scrutiny Notice was Issued: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2019/11/Tribunal-Rulings-Delhi-High-Court-Taxscan.jpg "Income Tax Refund cannot be withheld on ground that Scrutiny Notice was Issued: Delhi HC [Read Judgment]")
Income Tax Refund cannot be withheld on ground that Scrutiny Notice was Issued: Delhi HC [Read Judgment]
The Delhi High Court has held that Assessing Officer cannot withhold the Income Tax Refund by citing the reason that the scrutiny notice has been...
![Interest Paid on Borrowed Fund for Acquiring Controlling Interest in another Company allowable as Business Expenditure: Bombay High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2019/12/Borrowed-Fund-Interest-paid-Income-Tax-Taxscan.jpg "Interest Paid on Borrowed Fund for Acquiring Controlling Interest in another Company allowable as Business Expenditure: Bombay High Court [Read Judgment]")
If main object of institution was “charitable” in nature, “Amendment of S. 2(15) of Income Tax Act will not be applicable: ITAT Mumbai [Read Order]
The Income Tax Appellate Tribunal, Mumbai in a recent ruling, held that the amendment of section 2(15) of the Act w.e.f. 01.04.2009 will not affect a society/ association if primary purpose was...
Reimbursement of Commercial Taxes under Bihar Incentive Scheme is a Capital Receipt, Not Taxable: ITAT Mumbai [Read Order]
On an appeal filed by the Revenue against the Order of the CIT(A) in the case Dy. Commissioner of Income Tax - 4(2) v.M/s Harinagar Sugar Mi l ls Ltd., the Tribunal held that capital subsidy being 10%...
![Reimbursement of Commercial Taxes under Bihar Incentive Scheme is a Capital Receipt, Not Taxable: ITAT Mumbai [Read Order]](/images/placeholder.jpg "Reimbursement of Commercial Taxes under Bihar Incentive Scheme is a Capital Receipt, Not Taxable: ITAT Mumbai [Read Order]")
No Income Tax for notional interest on the security deposit paid by the employer on behalf of employee to Flat owner; ITAT Mumbai [Read Order]
In a recent ruling of Income Tax Appellate Tribunal (ITAT) Mumbai has held that Income Tax cannot be levied from Assessee for the notional interest on the security deposit paid by the employer for the...
Delhi HC Sets Aside the Order of ITAT favouring exemption to the Janata Party u/s 13A of Income Tax Act [DOWNLOAD JUDGMENT]
The Delhi High Court, on an appeal filed by the CIT, Delhi against the “Janata Party” struck down the order of ITAT in which a clean chit had been given to the said party on an allegation of misuse of...
Notice issuing for reassessment under Section 148 of the Income Tax Act should be Clear, Lucid and Unambiguous; Delhi HC [DOWNLOAD JUDGMENT]
The Delhi High Court in a recent judgment had quashed a notice issued by Income Tax Officer under section 148 of the Income Tax Act, 1961. The Court was hearing two sets of writ petitions filed by...
“The Reasons for Reopening of an Assessment, have to be Confined in the Impugned Order rather than Improving by Filing Subsequent Affidavits”: Delhi HC [DOWNLOAD JUDGMENT]
The Delhi High Court on 22.02.2016 has quashed the notice issued by the DCIT enclosing the reasons for reopening the assessment made against the petitioners, M/s Munjal Showa. M/s Munjal Showa is a...