Income Tax Dept agrees to Refund Rs. 190 Crores with Interest to Vedanta: Delhi HC sets Compliance Date for Oct 30th
The Income Tax (I-T) department has made a significant decision to refund an amount of Rs 190 crore, along with interest, to the mining conglomerate...
![4 days Time to Reply SCN is not Valid as per mandatory Provision under Income Tax Act:Â Kerala HC quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/4-days-Time-Reply-SCN-mandatory-Provision-Income-Tax-Act-Kerala-HC-Reassessment-Order-TAXSCAN.jpg "4 days Time to Reply SCN is not Valid as per mandatory Provision under Income Tax Act:Â Kerala HC quashes Reassessment Order [Read Order]")
![No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Penalty-Income-tax-Act-Imposed-Assessee-Sufficiently-Bonafides-Losses-Claimed-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]")
![CBDT extends deadlines for filing of Form 10B/10BB and Form ITR-7 for AY 2023-24 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2023/09/CBDT-extends-deadlines-filing-Form-Form-ITR-7-AY-2023-24-TAXSCAN.jpg "CBDT extends deadlines for filing of Form 10B/10BB and Form ITR-7 for AY 2023-24 [Read Circular]")
![ITAT issues Corrigendum for typographical errors in tribunal order in Deutsche Asset Managements Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Corrigendum-typographical-tribunal-Deutsche-Asset-Management-Case-TAXSCAN-1.jpg "ITAT issues Corrigendum for typographical errors in tribunal order in Deutsche Asset Managements Case [Read Order]")
No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that no disallowance should be made Under Section 14A read with section 8D of Income Tax Rule if the assessee did not earn any exempt income...
![No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/CBIC-Sets-Norms-for-Officer-Posting-and-Performance-CRC-Payment-Exemption-at-Air-Freight-Solutions-TAXSCAN.jpg "No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]")
No Requirement to Demonstrate Commercial Expediency in Each Year Concerning Loan Taken in Particular AY: Delhi HC [Read Order]
The Delhi High Court has affirmed the decision of the Income Tax Appellate Tribunal (ITAT) and stated that it was not necessary to establish or explicitly state the commercial expediency of a loan...
![No Requirement to Demonstrate Commercial Expediency in Each Year Concerning Loan Taken in Particular AY: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Requirement-Demonstrate-Commercial-Expediency-Commercial-Expediency-Concerning-Loan-Loan-AY-assessment-year-Delhi-High-Court-taxscan.jpg "No Requirement to Demonstrate Commercial Expediency in Each Year Concerning Loan Taken in Particular AY: Delhi HC [Read Order]")
Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]
The Delhi High Court set aside income tax notice as allegations of undisclosed income did not form the part of income tax notice. The petitioner in the present matter is Dhiru Real Estates Private...
![Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Allegations-of-Undisclosed-Income-form-Part-of-Notice-Delhi-HC-sets-aside-Income-Tax-Notice-TAXSCAN.jpg "Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]")
![Assessing officer cannot make Second Assessment on Same Issue on Same Assessment Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessing-officer-cannot-make-Second-Assessment-on-Same-Issue-on-Same-Assessment-Year-ITAT-TAXSCAN.jpg "Assessing officer cannot make Second Assessment on Same Issue on Same Assessment Year: ITAT [Read Order]")
Persistent Loss Filter can be Applied only if there is Loss in Three Successive Assessment Years: ITAT [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the persistent loss filter could be applied only if there was loss in three successive assessment years. Assessee, Nordex...
![Persistent Loss Filter can be Applied only if there is Loss in Three Successive Assessment Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Persistent-Loss-Filter-Applied-Loss-Successive-Assessment-Years-ITAT-taxscan.jpg "Persistent Loss Filter can be Applied only if there is Loss in Three Successive Assessment Years: ITAT [Read Order]")
Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, on finding that the re-assessment notice was issued after four years of the relevant AY, quashed...
![Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Re-Assessment-Notice-Re-Assessment-Re-Assessment-Notice-Issued-After-Four-Years-ITAT-quashes-Order-Relevant-AY-After-Four-Years-of-Relevant-AY-ITAT-taxscan.jpg "Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]")
Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, with regard to a search conducted within 6 preceding years of the relevant AY, upheld the Income Tax...
![Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Negligent-Attitude-Income-Tax-proceedings-ITAT-Assessee-Taxscan.jpg "Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]")