![Rs. 19000 Cr Buyback Dividend Distribution Income Tax Notice against Cognizant Technology: Madras HC stays Rs. 9403.09 Cr Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Buyback-Dividend-Distribution-Dividend-Income-Tax-Notice-Income-Tax-Cognizant-Technology-TAXSCAN.jpg "Rs. 19000 Cr Buyback Dividend Distribution Income Tax Notice against Cognizant Technology: Madras HC stays Rs. 9403.09 Cr Demand [Read Order]")
Rs. 19000 Cr Buyback Dividend Distribution Income Tax Notice against Cognizant Technology: Madras HC stays Rs. 9403.09 Cr Demand [Read Order]
The Madras High Court has temporarily stayed the tax demand of Rs. 9,403.09 crore associated with the Cognizant Technology's Rs. 19,000 crore buyback...
![Interest Income received from Co-Operative Bank is eligible deduction u/s 80(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Interest-Income-received-from-Co-Operative-Bank-is-eligible-deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Interest Income received from Co-Operative Bank is eligible deduction u/s 80(2)(d) of Income Tax Act: ITAT [Read Order]")
![Interest on Delayed Payment of TDS cannot be allowed as deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Interest-on-Delayed-Payment-Delayed-Payment-of-TDS-Payment-of-TDS-TDS-ITAT-Income-Tax-Tax-Deduction-at-Source-TAXSCAN.jpg "Interest on Delayed Payment of TDS cannot be allowed as deduction: ITAT [Read Order]")
![ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-13.jpg "ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]")
No Revision Order can be passed u/s 263 of Income Tax Act against issues which are not arising out of Limited Scrutiny: ITAT upholds Assessment Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench, held that no revision order could be passed under Section 263 of the Income Tax Act, 1961, against issues not arising out of limited scrutiny....
![No Revision Order can be passed u/s 263 of Income Tax Act against issues which are not arising out of Limited Scrutiny: ITAT upholds Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Revision-Order-Income-Tax-Act-Limited-Scrutiny-Assessment-Order-itat-chennai-TAXSCAN.jpg "No Revision Order can be passed u/s 263 of Income Tax Act against issues which are not arising out of Limited Scrutiny: ITAT upholds Assessment Order [Read Order]")
MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that mark-to-market losses incurred in the regular course of business by ICICI Bank are allowable as a deduction for computing tax...
![MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/MTM-losses-ICICI-Bank-ITAT-AO-MTM-TAXSCAN.jpg "MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]")
![Setback to Moraj Director Priya Gurnani: ITAT dismisses Claim of Vacancy Allowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Moraj-Director-Priya-Gurnani-Claim-Allowance-taxscan.jpg "Setback to Moraj Director Priya Gurnani: ITAT dismisses Claim of Vacancy Allowance [Read Order]")
TDS can't be Deducted when EDCs have been Exempted from Category of "Contractor" by Rajasthan State Government’s Order: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that Tax Deducted at Source (TDS) cannot be deducted when the Eco Development Committees (EDCs) have been exempted from the category...
![TDS cant be Deducted when EDCs have been Exempted from Category of Contractor by Rajasthan State Government’s Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/TDS-Deducted-when-EDCs-Category-Contractor-Rajasthan-State-Governments-Order-ITAT-TAXSCAN-1.jpg "TDS cant be Deducted when EDCs have been Exempted from Category of Contractor by Rajasthan State Government’s Order: ITAT [Read Order]")
Addition u/s 68 of Income Tax Act can't be made when Assessee Established Genuineness of Sundry Creditors: ITAT grants relief to Serco India [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Serco India and held that the addition under Section 68 of the Income Tax Act, 1961 cannot be made when the assessee...
![Addition u/s 68 of Income Tax Act cant be made when Assessee Established Genuineness of Sundry Creditors: ITAT grants relief to Serco India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Serco-India-Pvt.-Ltd-ITAT-Income-Tax-Act-grants-TAXSCAN.jpg "Addition u/s 68 of Income Tax Act cant be made when Assessee Established Genuineness of Sundry Creditors: ITAT grants relief to Serco India [Read Order]")
Forex loss used for Working Capital Purpose of Assessee is a Revenue Expenditure and shall be allowed as Deduction u/s 37(1): ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the forex loss/liabilities used for the working capital purpose of the assessee is a revenue expenditure and shall be allowed...
![Forex loss used for Working Capital Purpose of Assessee is a Revenue Expenditure and shall be allowed as Deduction u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-Capital-Purpose-Expenditure-Forex-loss-TAXSCAN.jpg "Forex loss used for Working Capital Purpose of Assessee is a Revenue Expenditure and shall be allowed as Deduction u/s 37(1): ITAT [Read Order]")