![Deduction u/s 801A claimed in Revised Income Tax Return shall be allowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Deduction-Return-ITAT-taxscan.jpeg "Deduction u/s 801A claimed in Revised Income Tax Return shall be allowed: ITAT [Read Order]")
Deduction u/s 801A claimed in Revised Income Tax Return shall be allowed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore bench consisting of George George K, Judicial Member and Laxmi Prasad Sahu, Accountant Member held...
![Income from Penny Stock Transaction, Paid for Purchase of Shares could not be Deducted while computing Undisclosed Cash Income from Transaction in Penny Stock: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-cash-income-penny-stock-ITAT-taxscan.jpeg "Income from Penny Stock Transaction, Paid for Purchase of Shares could not be Deducted while computing Undisclosed Cash Income from Transaction in Penny Stock: ITAT [Read Order]")
![New Provision for Re-Assessment can’t be invoked If Matter falls u/s 153C: Delhi HC quashes S. 148A Notice [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2022/05/Provision-Re-Assessment-Delhi-HC-taxscan.jpeg "New Provision for Re-Assessment can’t be invoked If Matter falls u/s 153C: Delhi HC quashes S. 148A Notice [Read Judgement]")
![Oversight to submit Form 16 cannot attract Tax Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Form-16-Tax-Penalty-ITAT-taxscan.jpg "Oversight to submit Form 16 cannot attract Tax Penalty: ITAT [Read Order]")
No Deliberate Attempt on part of Assessee to take Advantage of Delay in filing Appeal: ITAT condones Delay [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that since there is no deliberate attempt on the part of the assessee to take advantage of delay in filing the appeal, the delay can be...
![No Deliberate Attempt on part of Assessee to take Advantage of Delay in filing Appeal: ITAT condones Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-Appeal-ITAT-taxscan.jpeg "No Deliberate Attempt on part of Assessee to take Advantage of Delay in filing Appeal: ITAT condones Delay [Read Order]")
GST: Meghalaya HC declines Plea to Adjust Overdue Amount with Rest of Installments, Allows Dept to Initiate Recovery Proceedings on Next Default [Read Order]
In a recent order, the division bench of the Meghalaya High Court has declined the plea of the assessee spreading out the overdue amount over the rest of the installments. The petitioner, Jud...
![GST: Meghalaya HC declines Plea to Adjust Overdue Amount with Rest of Installments, Allows Dept to Initiate Recovery Proceedings on Next Default [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/GST-Meghalaya-HC-Installments-Dept-Initiate-Recovery-taxscan.jpeg "GST: Meghalaya HC declines Plea to Adjust Overdue Amount with Rest of Installments, Allows Dept to Initiate Recovery Proceedings on Next Default [Read Order]")
Loss out of Non-Speculative Transactions can be set off under the Head of Regular Business: ITAT [Read Order]
The Lucknow benchof Income Tax Appellate Tribunal (ITAT) comprising A D Jain, vice president and Shri T S Kapoor, AM has held that loss arose out of non-speculative transactions can be set off under...
![Loss out of Non-Speculative Transactions can be set off under the Head of Regular Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Loss-Non-speculative-Transactions-Regular-Busines-ITAT-taxscan.jpeg "Loss out of Non-Speculative Transactions can be set off under the Head of Regular Business: ITAT [Read Order]")
![‘Rusk’ cannot be classified as ‘Bread’, No VAT Exemption: Meghalaya HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Rusk-Bread-VAT-exemption-Meghalaya-HC-taxscan.jpeg "‘Rusk’ cannot be classified as ‘Bread’, No VAT Exemption: Meghalaya HC [Read Order]")
![Interest Expenses on Fringe Benefits Tax is Penal in Nature, No Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Interest-Expenses-Fringe-Benefits-Tax-Deduction-ITAT-taxscan.jpg "Interest Expenses on Fringe Benefits Tax is Penal in Nature, No Deduction: ITAT [Read Order]")
No Penalty If Assessee paid Excise Duty with Interest prior to Issue of Show Cause Notice: CESTAT [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata bench has held that the penalty cannot be imposed if the assessee paid duty along with interest prior to the issue of...
![No Penalty If Assessee paid Excise Duty with Interest prior to Issue of Show Cause Notice: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Penalty-Assessee-Excise-Duty-Show-Cause-Notice-CESTAT-taxscan.jpg "No Penalty If Assessee paid Excise Duty with Interest prior to Issue of Show Cause Notice: CESTAT [Read Order]")