Delayed Receivables From AE adjusted In Working-Capital: Allahabad HC directs TPO to decide on Interest Receivables [Read Order]
In a recent case, the Allahabad High Court Directed the Transfer Pricing Officer (TPO)to decide on the Interest receivables as it was adjusted in...
![AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-ITAT-Income-tax-act-Tax-news-Taxscan.jpg "AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]")
![Failure to produce Audit Report in Form No. 3CEB required u/s 92E of Income Tax Act due to opinion of CA of Assessee Company: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-Audit-Report-Income-Tax-Act-Assessee-Company-CA-ITAT-Penalty-taxscan.jpg "Failure to produce Audit Report in Form No. 3CEB required u/s 92E of Income Tax Act due to opinion of CA of Assessee Company: ITAT deletes Penalty [Read Order]")
![Assessment Order Framed against Non-Existing Company Illegal and Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Order-Framed-against-Non-Existing-Company-Assessment-Order-Non-Existing-Company-ITAT-Void-Ab-Initio-Taxscan.jpg "Assessment Order Framed against Non-Existing Company Illegal and Void Ab Initio: ITAT [Read Order]")
No Evidence to prove Voluntary Participation of Assessee Company to have Advertised its Product without Permission: Calcutta HC dismisses Petition [Read Order]
The High Court (HC) of Calcutta dismissed the petition as no evidence to prove the voluntary participation of assessee company to have advertised its product without permission. The Kolkata...
![No Evidence to prove Voluntary Participation of Assessee Company to have Advertised its Product without Permission: Calcutta HC dismisses Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Evidence-Voluntary-Participation-Assessee-Company-Advertised-Product-Calcutta-High-Court-Petition-Taxscan.jpg "No Evidence to prove Voluntary Participation of Assessee Company to have Advertised its Product without Permission: Calcutta HC dismisses Petition [Read Order]")
Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]
The Calcutta High Court has held that a non-profit organization under section 25 of the Companies Act imparting education is eligible for income tax exemption as the same would be treated as...
![Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/03/Non-Profit-Company-Education-Income-Tax-Exemption-income-tax-Charitable-Activities-Calcutta-High-Court-Taxscan.jpeg "Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]")
ITAT deletes Addition on account of Expenditure made by Assessee Company to receive Accommodation Entries [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition on account of expenditure made by assessee company to receive Accommodation Entries. During the course of...
![ITAT deletes Addition on account of Expenditure made by Assessee Company to receive Accommodation Entries [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/ITAT-ASSESSEE-COMPANY-TAXSCAN.jpg "ITAT deletes Addition on account of Expenditure made by Assessee Company to receive Accommodation Entries [Read Order]")
Provisions relating to Book Profit not applicable when there is No Income Tax payable on Normal provisions of the Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the provisions relating to Book Profit not applicable when there is no income tax payable on the normal provisions of the Act. The...
![Provisions relating to Book Profit not applicable when there is No Income Tax payable on Normal provisions of the Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Provisions-Book-Profit-income-tax-normal-provisions-of-the-Act-ITAT-Taxscan.jpg "Provisions relating to Book Profit not applicable when there is No Income Tax payable on Normal provisions of the Act: ITAT [Read Order]")
![ITAT: Department cannot take up a new issue while filing Cross Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Department-filing-Cross-Objection-Taxscan.jpg "ITAT: Department cannot take up a new issue while filing Cross Objection [Read Order]")
Forfeiture of Convertible Warrant has resulted in extinguishment of Right of Assessee to obtain a Share in issuer company: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the forfeiture of the convertible warrant has resulted in the extinguishment of the right of the assessee to obtain a share in the...
![Forfeiture of Convertible Warrant has resulted in extinguishment of Right of Assessee to obtain a Share in issuer company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Forfeiture-extinguishment-of-the-right-assessee-issuer-company-ITAT-Taxscan.jpg "Forfeiture of Convertible Warrant has resulted in extinguishment of Right of Assessee to obtain a Share in issuer company: ITAT [Read Order]")
Business Expenditure in form of Postage, Courier and Stationery Charges couldn’t be disallowed: Madras High Court [Read Judgment]
The Madras High Court held that the business Expenditure in form of Postage, Courier and Stationery Charges could not be disallowed. The assessee, M/s.Share Aids Private Ltd. stated that it...
![Business Expenditure in form of Postage, Courier and Stationery Charges couldn’t be disallowed: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/Business-Expenditure-Postage-Courier-Stationery-Charges-Madras-High-Court-Taxscan.jpg "Business Expenditure in form of Postage, Courier and Stationery Charges couldn’t be disallowed: Madras High Court [Read Judgment]")