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No Evidence to prove Receipt of commission from foreign Entities: Delhi HC Dismisses Income Tax Dept’s Appeal [Read Order]

In a recent case, the Delhi High Court dismissed the Income Tax Department’s appeal as there was no evidence to prove receipt of commission from...

Allegation of Bogus Donation: ITAT Allows Income Tax Deduction u/s 35 (1)(ii) in Absence of Material...

ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]

ITAT sets aside Income Tax Reassessment completed without Providing a Copy of the Reasons [Read...

Issuance of Reassessment Notices u/s 148 of Income Tax Act: CBDT issues Guidelines [Read...

Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that under Section 80P (2)(d), taxpayers are eligible for a deduction on interest and dividend income earned from...

Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]

The Kerala High Court has held that the transfer of the depreciable capital assets attracted capital gains tax under Section 45(4) of the Income Tax Act, 1961in the absence of distribution of any...

Gujarat HC rules Admission Fee Paid to Educational Trust is Corpus Donation, allows Exemption u/s 11(1)(d) of Income Tax Act [Read Order]

The Gujarat High Court has ruled that admission fees paid to a charitable educational trust can be considered a corpus donation and are thus eligible for exemption under Section 11(1)(d) of the...

Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal [Read Order]

The two member bench of the Income Tax Appellate Tribunal ( ITAT ) Delhi, dismissed the taxpayer's appeal after they claimed assessment under section 44AD without maintaining day-to-day regular books...

ITAT deletes Penalty u/s 271D of Income Tax Act on Availability of Reasonable Cause to Prove Bonafide Act of Assessee [Read Order]

The Bangalore of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under section 271 D of the Income Tax Act, 1961 as it proved reasonable cause to treat the assessee as bonafide. The...

Delay in Filing Income Tax Appeal due to Non-Availability of Legal Consultant: Kerala HC Condones 11 Days Delay [Read Order]

The Kerala High Court condoned the delay of 11 days as the delay in filing an Income Tax appeal occurred due to the non-availability of a legal consultant. The court observed that filing an appeal in...

Calcutta HC allows Income Tax Deduction u/s 80-IC(2)(a)(i) for the Manufacture of Mouth Freshener (Pan Masala Without Tobacco) [Read Order]

In a recent case, the Calcutta High Court allowed the deduction under section 80-ic(2)(a)(i) of the Income Tax Act for the manufacture of Mouth Freshener ( Pan Masala Without Tobacco ) Unicorn...

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