![Explanation 7 of Section 9(1)(i) of Income Tax Act has retrospective effect: Delhi HC upholds Deletion of Addition towards LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-LTCG-HC-retrospective-effect-taxscan.jpg "Explanation 7 of Section 9(1)(i) of Income Tax Act has retrospective effect: Delhi HC upholds Deletion of Addition towards LTCG [Read Order]")
Explanation 7 of Section 9(1)(i) of Income Tax Act has retrospective effect: Delhi HC upholds Deletion of Addition towards LTCG [Read Order]
The Delhi High Court has held that Explanation 7 of Section 9(1)(i) of the Income Tax Act, 1961has retrospective effect and upheld...
![Opinion of Income Tax Dept not Tangible Material for Reopening Assessment: Calcutta HC quashes Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Calcutta-HC-Reopening-Assessment-Tangible-Material-taxscan.jpg "Opinion of Income Tax Dept not Tangible Material for Reopening Assessment: Calcutta HC quashes Reassessment [Read Order]")
![Floor Bed Area Open to sky and Balcony Area below Floor level doesnt form part of Constructed Area, Deduction u/s 80IB(10) shall be allowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Appellate-Tribunal-ITAT-Floor-Bed-Area-sky-and-Balcony-Area-TAXSCAN.jpg "Floor Bed Area Open to sky and Balcony Area below Floor level doesnt form part of Constructed Area, Deduction u/s 80IB(10) shall be allowed: ITAT [Read Order]")
![Availability of Interest-Free Funds more than Investments: Delhi HC upholds Deletion of Disallowance under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Delhi-HC-Income-Tax-Act-Disallowance-Availability-taxscan.jpg "Availability of Interest-Free Funds more than Investments: Delhi HC upholds Deletion of Disallowance under Income Tax Act [Read Order]")
![Interest u/s 244A shall be Calculated by first Adjusting Amount of Refund towards Interest Component and Balance left towards Tax Component: ITAT grants relief to IDBI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-grants-relief-to-IDBI-Bank-IDBI-Bank-Tax-Component-Interest-Component-ITAT-grants-relief-TAXSCAN.jpg "Interest u/s 244A shall be Calculated by first Adjusting Amount of Refund towards Interest Component and Balance left towards Tax Component: ITAT grants relief to IDBI Bank [Read Order]")
Failure to Issue Notice Fixing Date and Place of Hearing as per S. 250 of Income Tax Act is Invalid: Kerala HC Sets aside Assessment Order [Read Order]
The Kerala High Court set aside the assessment order which was passed without issuing proper notice as per section 250 of the Income Tax Act, 1961. The Court ruled that failure to issue notice fixing...
Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that exemption under Section 54EC of the Income Tax Act, 1961 shall not be allowed when the investment has not been made during the...
![Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Investment-Income-Tax-Act-TAXSCAN.jpg "Exemption u/s 54EC shall not be allowed when Investment has not been made during Period of limitation provided u/s 54EC: ITAT [Read Order]")
Ex-Parte order passed for Non-Appearance of Assessee: ITAT grants another opportunity giving relief to Oriental Bank [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) granted another opportunity while giving relief to Oriental Bank as an ex-parte order was passed for non-appearance of the assessee. ...
![Ex-Parte order passed for Non-Appearance of Assessee: ITAT grants another opportunity giving relief to Oriental Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Oriental-Bank-site-img.jpg "Ex-Parte order passed for Non-Appearance of Assessee: ITAT grants another opportunity giving relief to Oriental Bank [Read Order]")
![Delay in filing of Appeal should fall under Reasonable Cause: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Delay-filing-Appeal-Reasonable-Cause-ITAT-TAXSCAN.jpg "Delay in filing of Appeal should fall under Reasonable Cause: ITAT [Read Order]")
Failure to clarify ground on which penalty levied: Delhi HC dismisses Departmental appeal without question of law [Read Order]
In a recent case, the Delhi High Court quashed an appeal filed for the levy of a penalty under Section 271(1)(c) of the Income Tax Act, 1961, due to a failure to clarify the ground on which the...
Usage of Document found at business premises of Partnership Firm against Partners: Delhi HC closes appeal without substantial Question of Law
In a recent case, the Delhi High Court, while closing the appeal as no substantial question of law, held that documents found at the business premises of partnership firms could not be used against...
Relief to Tata Steel: ITAT deletes Transfer Pricing Adjustment w.r.t. Power availed through Indian Energy Exchange [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench has deleted the Transfer Pricing (TP) Adjustment in favour of Tata Steel Ltd. This decision was based on the observation that the rates...
![Relief to Tata Steel: ITAT deletes Transfer Pricing Adjustment w.r.t. Power availed through Indian Energy Exchange [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Indian-Energy-Exchange-Income-Tax-Appellate-Tribunal-Transfer-Pricing-Power-availed-Income-Tax-ITAT-News-Tax-News-Tata-Steel-Ltd-TAXSCAN.jpg "Relief to Tata Steel: ITAT deletes Transfer Pricing Adjustment w.r.t. Power availed through Indian Energy Exchange [Read Order]")