ITAT allows Claim of Deduction u/s 80P (2) (a) (i) in respect of Interest Earned from Credit Facilities extended to members including Nominal / Associate Members [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the claim of deduction under Section 80P (2)(a)(i) in respect of interest...
![ITD cant cure defect in Notice issued u/s 148 of Income Tax Act against Dead person by issuing Manual Notice in name of Legal Heir: ITAT quashes Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Bangalore-Reassessment-Proceedings-section-148-of-the-Income-Tax-Act-ITAT-quashes-Reassessment-Proceedings-Tax-News-Taxscan.jpg "ITD cant cure defect in Notice issued u/s 148 of Income Tax Act against Dead person by issuing Manual Notice in name of Legal Heir: ITAT quashes Reassessment Proceedings [Read Order]")
![Payments Received Towards Interconnectivity Utility Charges From Indian Customers Is Not Royalty under Article 12 of DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Payments-Received-Interconnectivity-Utility-Charges-From-Indian-Customers-Royalty-Article-12-of-DTAA-ITAT-TAXSCAN.jpg "Payments Received Towards Interconnectivity Utility Charges From Indian Customers Is Not Royalty under Article 12 of DTAA: ITAT [Read Order]")
![Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-India-Japan-DTAA-Article-12-of-India-Japan-DTAA-income-tax-updates-taxscan.jpg "Receipt of IUC charges cannot be taxed as Royalty under Article 12 of India Japan DTAA: ITAT [Read Order]")
![Interest Income from Co-operative Banks to be considered for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Bangalore-Tax-news-I-ncome-Tax-Deduction-Taxscan.jpg "Interest Income from Co-operative Banks to be considered for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT allows Appeal [Read Order]")
ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]
The two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directed re adjudication regarding the cash deposited during the demonetisation period under the business of purchases and...
![ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Re-adjudication-Cash-Deposits-Biscuit-Confectionery-Business-Demonetization-taxscan.jpg "ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]")
ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directs readjudication regarding the commission and brokerage sale credited to Profit and Loss Account of distributorship to...
![ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Bangalore-Income-tax-act-ITAT-directs-Readjudication-Tax-news-Taxscan.jpg "ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]")
AO denies to grant Section 54F Deduction to LTCG from Sale of Inherited Jewellery: ITAT allows Deduction [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed the deduction after the Assessing Officer denied granting Section 54F of the Income Tax Act, 1961, deduction for...
![AO denies to grant Section 54F Deduction to LTCG from Sale of Inherited Jewellery: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Bangalore-Income-Tax-Sale-of-Inherited-Jewellery-TAXSCAN.jpg "AO denies to grant Section 54F Deduction to LTCG from Sale of Inherited Jewellery: ITAT allows Deduction [Read Order]")
“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]
The Bangalore bench Income Tax Appellate Tribunal (ITAT), while directing re-adjudication with respect to genuineness of deposit made during demonetisation period held that not every deposit during...
![“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Not-every-deposit-during-Demonetisation-Period-Demonetisation-Period-Unaccounted-Cash-ITAT-taxscan.jpg "“Not every deposit during Demonetisation Period would fall under category of Unaccounted Cash”: ITAT directs Re-adjudication with respect to genuineness of deposit [Read Order]")
Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) refused to grant condonation for a 310-day delay, citing the taxpayer's inability to substantiate the Chartered Accountant's (CA)...
![Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Condone-Delay-Taxpayer-Taxpayer-Fails-to-Prove-CAs-Advice-Taxpayer-Fails-to-Prove-CAs-Advice-to-Transfer-Case-to-Advocate-taxscan.jpg "Taxpayer Fails to Prove CA’s Advice to Transfer Case to Advocate and his Negligence to File Timely Appeal: ITAT Denies to Condone Delay of 310 Days [Read Order]")
Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) observed that the Sale receipts already recorded as income or loss at time of sale was unexplained cash credit under Section 68 of...
![Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Sale-Receipts-recorded-Income-or-Loss-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Sale Receipts already recorded as Income or Loss at time of Sale is Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
![ITAT Annual Digest 2023 [Part 1]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-2023-taxscan.jpg "ITAT Annual Digest 2023 [Part 1]")