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No Tax Deduction for Education Expenses of Sole Proprietor: ITAT [Read Order]

No Tax Deduction for Education Expenses of Sole Proprietor: ITAT [Read Order]

Taxscan Team
No Denial of Input Tax Credit for Clerical Errors in Invoices: CESTAT [Read Order]

No Denial of Input Tax Credit for Clerical Errors in Invoices: CESTAT [Read Order]

Taxscan Team
No Need of Two Separate Satisfaction Notes If AO of the Searched Person and the Other Person is Same: SC [Read Judgment]

No Need of Two Separate Satisfaction Notes If AO of the Searched Person and the Other Person is...

Taxscan Team
Share Application Income cant be Taxed Once its Genuineness is proved: Bombay HC [Read Judgment]

Share Application Income can't be Taxed Once its Genuineness is proved: Bombay HC [Read Judgment]

Taxscan Team

ITAT deletes Penalty since Assessee applied Transfer Pricing Provisions with Good faith and Due Diligence [Read Order]

In a major relief to Tianjin Tianshi India Pvt. Ltd, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be...

ITAT deletes Penalty since Assessee applied Transfer Pricing Provisions with Good faith and Due Diligence [Read Order]
Taxscan Team

Rent from Children can’t be treated as a Tool for Evasion if it is a Genuine Arrangement for Tax Savings: ITAT [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the rent received from son and daughter of the assessee could not be treated as a tax evasion tool if the...

Rent from Children can’t be treated as a Tool for Evasion if it is a Genuine Arrangement for Tax Savings: ITAT [Read Order]
Taxscan Team

Assessing Officer cannot reject a Claim without any basis: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the Assessing Officer cannot reject a claim made by the assessee without any basis. While allowing an appeal filed...

Assessing Officer cannot reject a Claim without any basis: ITAT [Read Order]
Taxscan Team

Amortization of expenses on cost of Building Construction on Leasehold Land not Deductible from House Property Income: ITAT [Read Order]

The Bengaluru bench of the Income Tax Appellate Tribunal ( ITAT ), in a recent ruling held that the amount of amortization of cost of construction of building on leased land cannot be deducted from...

Amortization of expenses on cost of Building Construction on Leasehold Land not Deductible from House Property Income: ITAT [Read Order]
Taxscan Team

Purchase of Property in the name of Son eligible for Capital Gain Exemption: ITAT [Read Order]

In an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has recently allowed capital gain exemption under section 54 of the Income Tax Act, 1961 to the assessee for the...

Purchase of Property in the name of Son eligible for Capital Gain Exemption: ITAT [Read Order]
Taxscan Team

Security Deposit Taxable on the Year of Termination of Dealership Agreement: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench, in a recent ruling held that the amount deposited by the assessee as a security deposit is not taxable on the year of termination of the...

Security Deposit Taxable on the Year of Termination of Dealership Agreement: ITAT [Read Order]
Taxscan Team

Payment to Football Players is based on their Talent and Capacity: ITAT grants relief to Mohan Bagan [Read Order]

While granting tax relief to Kolkata based professional football team, the Income Tax Appellate Tribunal (ITAT) observed that the payments to the professional football players are truly based on their...

Payment to Football Players is based on their Talent and Capacity: ITAT grants relief to Mohan Bagan [Read Order]
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