CBDT notifies 30 Evaluation Centres in 20 cities as a part of New Faceless Assessment Scheme
The Central Board of Direct Taxes (CBDT) on Thursday notified the Regional e-Evaluation Centres with 30 headquarters throughout 20 cities to cover...
![No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Income-Tax-Return-ITAT-Penalty-Income-Tax-Taxscan.jpg "No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]")
![Transfer of Land to Holding Company exempted from Capital Gain Tax: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/assessee-exemption-transfer-land-Taxscan.jpg "Transfer of Land to Holding Company exempted from Capital Gain Tax: Madras HC [Read Judgment]")
Depreciation allowable on Goodwill from Acquisition of Business Unit: ITAT grants relief to DHL Logistics
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the disallowance of depreciation on goodwill by the Assessing Officer (AO). The assessee, M/s. DHL Logistics Pvt. Ltd. is a logistics...
Activity of sieving to separate dust particles is ‘manufacture’ under the SEZ Act, 2005: Madras HC [Read Order]
The Madras High Court while upholding the decision of the CIT(A) and Tribunal held that the Activity of sieving to separate dust particles is ‘manufacture’ under the SEZ Act, 2005. The Assessee,...
Disallowance of Discounts/Rebate to Holding Company: ITAT directs to verify genuineness of Agreements/MOUs
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, in a case involving the disallowance of discounts or rebates to holding company, directed the Assessing Officer (AO) to examine the transactions...
Contractors performing work in the nature of Developer-cum-Contractor eligible for Deduction u/s 80A even after Amendment: ITAT
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has held that the contractors performing the work in the nature of a developer-cum-contractor are still eligible to claim deduction under...
![Assessing Officer has no Power to Review but has Power to Reassess: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/Assessing-Officer-Madras-High-Court-Power-Reassess-Income-Tax-power-review-Taxscan.jpeg "Assessing Officer has no Power to Review but has Power to Reassess: Madras High Court [Read Judgment]")
Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot be equated since the expenditure is indicative of...
