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Assessing Officer

ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayer's Non-Agricultural Land Sale [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed an Income tax addition of Rs. 1.45 crore as short-term capital gain from the...

Transferees Eligible to Claim TDS Credit Even if Certificates are in Name of Amalgamated/Demerged...

Delhi HC Restrains Income dept. from Taking Further Steps Pursuant to Order Passed u/s 148A (d)...

Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under...

Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors:...

AO fails to verify Genuineness of Credible Information before issuing Notice: ITAT quashes Notice u/s 148 of Income Tax Act [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the notice issued under Section 148 of the Income Tax Act, 1961 as the Assessing Officer failed to verify the genuineness of...

Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68, of Income Tax Act, 1961 as the identity and creditworthiness of the share subscribers, along...

Encashment of Leave Salary would be a Profit in Lieu of Salary, Not Taxable under Voluntary Separation Programme: ITAT deletes Income Tax Addition [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 13 lakhs, ruling that the encashment of leave salary constitutes profit in lieu of salary and is not taxable...

Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-competitive fee received by the assessee is treated as 'revenue receipt' in the hands of the assessee but only...

Deduction u/s 80G of Income Tax Act Allowable on CSR Expenditure: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the deduction under Section 80G of the Income Tax Act, 1961 is allowable on the expenditure in respect of corporate social...

Interest/Dividend Income out of Investments with Co-operative Society is Eligible for Deduction u/s 80P(2) of Income Tax Act: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest / dividend income out of investments with co-operative society is eligible for deduction under Section 80P(2) of...

ITAT directs Remands Matter to AO to Analyse Payment of Guarantee Commission is an Admissible Deduction u/s 37(1) of Income Tax Act [Read Order]

In a recent ruling the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) directed the remand of the matter to the AO to analyse whether the payment of the guarantee commission is an...

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