Bank Charges & Bank Guarantee Charges Not Amounts to Interest: ITAT Deletes Disallowance u/s 14A of Income Tax Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that bank charges and bank guarantee charges do not partake in the character of...
![Agricultural Land Income Exempted from Tax cannot be Added to Book profits u/s 115 JB of Income Tax Act: Delhi HC dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Act-Income-Tax-115-JB-of-Income-Tax-Act-Delhi-HC-Delhi-High-Court-taxscan.jpg "Agricultural Land Income Exempted from Tax cannot be Added to Book profits u/s 115 JB of Income Tax Act: Delhi HC dismisses Appeal [Read Order]")
![Superior Authoritys Mechanical Approval for Income Tax Search Defeats Purpose of S. 153D: ITAT Quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-ITAT-Quashes-ITAT-Quashes-Order-Income-Tax-Appellate-Tribunal-ITAT-quashes-Income-Tax-TAXSCAN.webp "Superior Authoritys Mechanical Approval for Income Tax Search Defeats Purpose of S. 153D: ITAT Quashes Order [Read Order]")
![ITAT deletes Adjustment on Guarantee Fee Payment, Upholds Judicial Consistency [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Itat-Judicial-Consistency-Guarantee-Fee-Guarantee-Fee-Payment-income-tax-income-tax-news-itat-on-Guarantee-Fee-Payment-tax-news-itat-Ahmedabad-taxscan.jpg "ITAT deletes Adjustment on Guarantee Fee Payment, Upholds Judicial Consistency [Read Order]")
Not Permissible for TPO to Engage in Restructuring of Transaction: Delhi HC dismisses Appeal [Read Order]
The Delhi High Court has held that it is not permissible for the Transfer Pricing Officer ( TPO ) to engage in the restructuring of a transaction. The bench of Justice Yashwant Varma and Justice...
Interest not Leviable in Absence of Taxable due under Assam General Sales Tax Act: Gauhati HC [Read Order]
The Gauhati High Court has held that interest is not leviable in the absence of taxable due under the Assam General Sales Tax Act, 1993. The court held that the assessing officer and the appellate...
Property Sale Income Kept For Investment will be Taxed under 'Capital Gains' under Income Tax Act: Kerala HC [Read Order]
In a recent case, the Kerala High Court has held that income from the sale of property kept for investment will be taxed under 'Capital Gains' under Income Tax Act, 1961. The court upheld the...
![Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Capital-Gains-Kerala-HC-Sale-Income-ITAT-Kerala-High-Court-capital-accretion-taxscan.jpg "Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]")
![Insufficient Evidence for AO’s Addition: Bombay HC dismisses Income Tax Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Appeal-Income-Tax-Act-Bombay-High-Court-Bombay-HC-TAXSCAN.jpg "Insufficient Evidence for AO’s Addition: Bombay HC dismisses Income Tax Appeal [Read Order]")
Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) held that the indexation benefit is allowable based on the cost of acquisition of property sold by the taxpayer. It was held that the...
![Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Appellate-Tribunal-ITAT-Taxpayer-indexation-acquisition-of-property-long-term-capital-loss-taxscan.jpg "Indexation Benefit Allowable Based on Cost of Acquisition of Property Sold by Taxpayer: ITAT [Read Order]")
Budget 2024-25: FM Introduces Relief Measures Limiting Reopening of Old Income Tax Returns [Read Bill]
The Union Finance Minister Nirmala Sitharaman presented the full - budget 2024 yesterday before the parliament. has proposed significant reforms to the Income Tax Act, 1961, including measures to...
![Budget 2024-25: FM Introduces Relief Measures Limiting Reopening of Old Income Tax Returns [Read Bill]](https://www.taxscan.in/wp-content/uploads/2024/07/Budget-2024-FM-Introduces-Measures-Limiting-Reopening-Income-Tax-Returns-TAXSCAN.jpg "Budget 2024-25: FM Introduces Relief Measures Limiting Reopening of Old Income Tax Returns [Read Bill]")