![Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-kolkata-share-companies-ITAT-deletes-unexplained-shares-share-application-money-income-tax-act-taxscan.jpg "Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]")
Creditworthiness of Share Subscriber Companies Proven: ITAT deletes Addition of Unexplained Share Application Money under Income Tax Act [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of unexplained share application money under the Income Tax Act,...
![CSR Expenses Eligible for Deduction u/s 80G of the Income Tax Act: ITAT restores Matter to CIT ( Appeals ) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-CSR-Income-tax-appellate-tribunal-Corporate-social-responsibility-TAXSCAN.jpg "CSR Expenses Eligible for Deduction u/s 80G of the Income Tax Act: ITAT restores Matter to CIT ( Appeals ) [Read Order]")
![Assessments concluded u/s 153A without Mandatory Approval is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Appellate-Tribunal-section-153A-of-the-Income-Tax-Act-mandatory-approval-taxscan.jpg "Assessments concluded u/s 153A without Mandatory Approval is Invalid: ITAT [Read Order]")
![Addition on Sale of Partners Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-act-ITAT-delhi-Partners-property-sold-properties-TAXSCAN.jpg "Addition on Sale of Partners Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]")
![ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds 1000 sq.fts Excluding Balcony Open to Sky [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Income-Tax-Act-Income-Tax-Appellate-Tribunal-Section-80IB10-of-the-Income-Tax-Act-ITAT-Allows-taxscan.jpg "ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds 1000 sq.fts Excluding Balcony Open to Sky [Read Order]")
Assessment cannot be made on Mere Presumption of Existence of Incriminating Material: Delhi HC upholds quashing of Assessment Order [Read Order]
Delhi High Court upheld the quashing of reassessment order and held that the assessment cannot be made on mere presumption of existence of incriminating material. During the course of search, it...
Violation of Provision for Faceless Assessments to Impart Greater Efficiency, Transparency and Accountability: MP HC Lists Matter for Hearing [Read Order]
The Madhya Pradesh High Court listed the matter for hearing on the matter dealing with the violation of Section 151 A of the Income Tax Act, 1961 which is a provision for faceless assessments to...
Participation in Re-Assessment Proceedings: Rajasthan HC refuses to Entertain Writ Jurisdiction [Read Order]
The Rajasthan High Court refused to entertain writ petition as there was active participation of the petitioner in re assessment proceedings. The notice under Section 148 of Income Tax Act, 1961...
Interest / Dividend Income from Investment with Cooperative Society is Entitled to Deduction u/s 80 P (2)(d) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that interest and dividend income from investments with a cooperative society are entitled to a deduction under Section...
![Interest / Dividend Income from Investment with Cooperative Society is Entitled to Deduction u/s 80 P (2)(d) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-income-tax-appellate-tribunal-Dividend-income-Cooperative-society-TAXSCAN.jpg "Interest / Dividend Income from Investment with Cooperative Society is Entitled to Deduction u/s 80 P (2)(d) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]")
Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest income from investment in Karnataka District Central Co-operative Bank ( KDCC Bank ) was not eligible for...
![Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-bangalore-investment-in-kdcc-bank-interest-income-from-kdcc-bank-remand-to-assessing-officer-taxscan.jpg "Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]")
Exemption u/s 54F of Income Tax Act not allowable for 500 sqm Shed on Agricultural Land: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) rejected a claim for exemption under Section 54F of the Income Tax Act, as the exemption from sale of capital assets were claimed in the...
![Exemption u/s 54F of Income Tax Act not allowable for 500 sqm Shed on Agricultural Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/site-img-6-1.jpg "Exemption u/s 54F of Income Tax Act not allowable for 500 sqm Shed on Agricultural Land: ITAT [Read Order]")
Failure to make Proper Enquiry on Bogus Claim of LTCG by Sale of Shares: Calcutta HC upholds Revision Order [Read Order]
In a recent case, the Calcutta High Court has upheld the revision order passed by the Principal Commissioner of Income Tax ( PCIT ) under Section 263 of the Income Tax Act, 1961. The Court found that...
