![Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Declaration-of-income-IDS-Income-Tax-Return-ITAT-Penalty-Taxsscan.jpg "Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]")
Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding a penalty order passed under section 271F of the Income Tax Act, 1961 held...
![Initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/02/l-Assessment-year-year-deduction-business-Madras-HC-taxscan.jpeg "Initial Assessment year in Section 80IA(5) would only mean year of claim of deduction, not year of commencement of eligible business: Madras HC [Read Judgment]")
![Restriction of 8 years for Carry Forward, set-off of Unabsorbed Depreciation had been dispensed with: ITAT allows Assessee to Carry Forward Depreciation Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Restriction-8-years-unabsorbed-depreciation-depreciation-ITAT-assesse-depreciation-loss-loss-Taxscan.jpg "Restriction of 8 years for Carry Forward, set-off of Unabsorbed Depreciation had been dispensed with: ITAT allows Assessee to Carry Forward Depreciation Loss [Read Order]")
![Latest Amendment to Sec 36(1)(va) and 43B of Income Tax Act has no Retrospective Effect: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Latest-Amendment-Amendment-S.-361va-43B-of-Income-Tax-Act-Income-tax-act-Retrospective-Effect-ITAT-Deduction-Taxscan.jpg "Latest Amendment to Sec 36(1)(va) and 43B of Income Tax Act has no Retrospective Effect: ITAT allows Deduction [Read Order]")
Gujarat Tax Advocate Association writes to Finance Minister requesting Waiver of Late Fees under Income Tax Act, Extension of Due Date for filing of Income Tax Audit Report [Read Letter]
The Gujarat Tax Advocate Association writes to Union Finance Minister, Nirmala Sitharaman requesting the waiver of Late Fees under Income Tax Act, extension of Date for filing of audit report for...
Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]
In a major setback to Bennett Coleman, the Bombay High Court held that the assessee required to pay interest where advance tax paid is less than 75% of the assessed tax. In respect of the...
![Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/12/Setback-Bennett-Coleman-Assessee-Advance-tax-Assessed-tax-Bombay-HC-Taxscan.jpg "Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]")
PCIT can’t assume Jurisdiction u/s 263 when various Benches of Tribunal have already decided in favor of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench ruled that the PCIT(A) can not assume Jurisdiction under section 263 when various Benches of the Tribunal have already decided in favour of...
![PCIT can’t assume Jurisdiction u/s 263 when various Benches of Tribunal have already decided in favor of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/PCIT-Benches-of-Tribunal-Assessee-ITAT-Taxscan.jpg "PCIT can’t assume Jurisdiction u/s 263 when various Benches of Tribunal have already decided in favor of Assessee: ITAT [Read Order]")
![Partial Relief to Tata Sons: ITAT allows Income Tax Deduction Claims [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Tata-Sons-ITAT-Income-Tax-Deduction-Claims-Taxscan.jpg "Partial Relief to Tata Sons: ITAT allows Income Tax Deduction Claims [Read Order]")
Investments yielding Exempted Income ought to be considered while Computing disallowance under Rule 8D(2)(iii): ITAT directs Re-computation
The Income Tax Appellate Tribunal (ITAT), Chennai Bench while directing the re-computation ruled that the Investments yielding exempted income ought to be considered while computing disallowance...
Depreciation allowable on Machineries kept ready for Use: ITAT allows Relief since Non-Usage of Machineries due to reasons beyond the control of Assessee
The Income Tax Appellate Tribunal (ITAT), Chennai Bench while allowing the relief since non-usage of Machineries due to reasons beyond the control of assessee held that the depreciation allowable on...
![Relief to Lifestyle International: ITAT deletes the disallowance on Professional Fee [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Lifestyle-International-ITAT-disallowance-on-professional-fee-Taxscan.jpeg "Relief to Lifestyle International: ITAT deletes the disallowance on Professional Fee [Read Order]")