![Interest Income only cannot attract Depreciation under Section 32 of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Interest-Income-Depreciation-n-Income-Tax-Act-ITAT-taxscan.jpg "Interest Income only cannot attract Depreciation under Section 32 of the Income Tax Act: ITAT [Read Order]")
Interest Income only cannot attract Depreciation under Section 32 of the Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal Ahmedabad ( ITAT ) Presided by Vice President P.M. Jagtap, and Judicial Member Siddhartha Nautiyal has held that,...
![Redemption Fee can’t be imposed for ADD Escaped Assessment: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Redemption-Fee-ADD-Escaped-Assessment-CESTAT-Taxscan.jpg "Redemption Fee can’t be imposed for ADD Escaped Assessment: CESTAT [Read Order]")
![ITAT invalidates Reopening of Income Tax Assessment as reasons, information referred was extremely Scanty, Sudden jump to conclusions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/ITAT-Reopening-Income-Tax-Assessment-reasons-information-scanty-sudden-jump-conclusions-Taxscan.jpg "ITAT invalidates Reopening of Income Tax Assessment as reasons, information referred was extremely Scanty, Sudden jump to conclusions [Read Order]")
![ITAT remands matter back to AO to Compute Income from House Property as per Municipal Value [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/ITAT-AO-income-from-house-property-municipal-value-taxscan.jpg "ITAT remands matter back to AO to Compute Income from House Property as per Municipal Value [Read Order]")
Bombay HC quashes Re-opening of Assessment as condition precedent to Valid Exercise of Power to Re-open Assessment, after a lapse of 4 years [Read Order]
The Bombay High Court has quashed the reopening of Assessment as a condition precedent to valid exercise of power to reopen assessment, after lapse of 4 years. The Petitioner, Macrotech Developers...
![Bombay HC quashes Re-opening of Assessment as condition precedent to Valid Exercise of Power to Re-open Assessment, after a lapse of 4 years [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Bombay-HC-re-opening-assessment-after-lapse-of-4-years-TAXSCAN.jpg "Bombay HC quashes Re-opening of Assessment as condition precedent to Valid Exercise of Power to Re-open Assessment, after a lapse of 4 years [Read Order]")
ITAT disallows Fees paid towards Investment Advisory Services as Assessee only furnished Debit Note, no other Documentary Evidences [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has disallowed fees paid towards Investment Advisory Services as assessee only furnished debit note, and no other documentary evidence. ...
![ITAT disallows Fees paid towards Investment Advisory Services as Assessee only furnished Debit Note, no other Documentary Evidences [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/ITAT-fees-Investment-Investment-Advisory-Services-assesse-furnished-debit-note-debit-note-Debit-documentary-evidences-Taxscan.jpg "ITAT disallows Fees paid towards Investment Advisory Services as Assessee only furnished Debit Note, no other Documentary Evidences [Read Order]")
Gujarat HC set aside Income Tax Reassessment Notice to Partners as there is no reason for Taxing Remuneration from Capital Account of Partnership Firm [Read Order]
The Gujarat High Court has set aside Income Tax reassessment notice to partners as there is no reason for taxing remuneration from the capital account of partnership firms. It appears from the...
![Gujarat HC set aside Income Tax Reassessment Notice to Partners as there is no reason for Taxing Remuneration from Capital Account of Partnership Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Gujarat-High-Court-Income-Tax-Reassessment-notice-Partners-Taxing-remuneration-Capital-account-Partnership-firm-firm-Taxing-Taxscan.jpg "Gujarat HC set aside Income Tax Reassessment Notice to Partners as there is no reason for Taxing Remuneration from Capital Account of Partnership Firm [Read Order]")
ITAT deletes Additions u/s 68 and 69C and expunges direction given by CIT(A) to AO to Reopen Assessment of earlier year [Read Order]
The Income Tax Appellate Tribunal (ITAT), Lucknow Bench, has deleted the addition made u/s 69C and 68 of the Act. The assessee firm, M/s Sahara City Homes- Bareilly, engaged in the business of...
![ITAT deletes Additions u/s 68 and 69C and expunges direction given by CIT(A) to AO to Reopen Assessment of earlier year [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/ITAT-Delhi-Taxscan.jpg "ITAT deletes Additions u/s 68 and 69C and expunges direction given by CIT(A) to AO to Reopen Assessment of earlier year [Read Order]")
ITAT directs AO to work out disallowance u/s 14A on the basis of Investments yielding Dividend [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer to work out disallowance under section 14A on the basis of investments yielding dividend. The Assessee, Zuari...
![ITAT directs AO to work out disallowance u/s 14A on the basis of Investments yielding Dividend [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-AO-Disallowance-undersection-14A-under-section-14A-Investments-Dividend-Taxscan.jpg "ITAT directs AO to work out disallowance u/s 14A on the basis of Investments yielding Dividend [Read Order]")
Relief to Vodafone Idea: Mere change of Opinion of the AO can’t be reason to Reopen Assessment, rules Bombay HC [Read Order]
In a major relief to the Vodafone Idea, the Bombay High Court held that mere change of Opinion of the AO cannot be reason to reopen Assessment. The Petitioner, Vodafone Idea Ltd. has issued the...
![Relief to Vodafone Idea: Mere change of Opinion of the AO can’t be reason to Reopen Assessment, rules Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Relief-Vodafone-Idea-AO-Reopen-Assessment-Bombay-HC-Taxscan.jpg "Relief to Vodafone Idea: Mere change of Opinion of the AO can’t be reason to Reopen Assessment, rules Bombay HC [Read Order]")