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Relief to Canara Bank-Bad Debt written off be First Adjusted Against Credit Balance and only Excess be Claimed as Deduction: ITAT deletes Disallowance u/s 36(1)(vii)
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to Canara Bank by deleting the disallowance under Section...
![Partial Relief to Canara Bank: ITAT directs matter to AO to examine Form No 15G and 15H of depositor to whom Interest is paid [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Canara-Bank-ITAT-AO-Form-No-15G-Taxscan.jpg "Partial Relief to Canara Bank: ITAT directs matter to AO to examine Form No 15G and 15H of depositor to whom Interest is paid [Read Order]")
Centre places private-sector lender Lakshmi Vilas Bank under a moratorium and restricts withdrawals of more than Rs.25,000 [Read Notification]
The Centre has placed private-sector lender Lakshmi Vilas Bank Ltd. under a moratorium and has restricted withdrawals of more than Rs.25,000 for one month till December 16, 2020. The step was...
![Centre places private-sector lender Lakshmi Vilas Bank under a moratorium and restricts withdrawals of more than Rs.25,000 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/11/private-sector-lender-Lakshmi-Vilas-Bank-moratorium-withdrawals-Taxscan.jpg "Centre places private-sector lender Lakshmi Vilas Bank under a moratorium and restricts withdrawals of more than Rs.25,000 [Read Notification]")
![TDS on LTA to Employees: ITAT deletes penalty for failure to deduct TDS against Canara Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-deletes-LTA-Employees-Penalty-failure-deduct-TDS-Syndicate-Bank-Canara-Bank-Taxscan.jpg "TDS on LTA to Employees: ITAT deletes penalty for failure to deduct TDS against Canara Bank [Read Order]")
Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]
The Madras High Court held that the Assessing Officer (AO) rightly disallowed depreciation on the purchase of windmill. The assessee, V. Sabitamani an individual filed for return of income for the...
![Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Assessing-Officer-Madras-High-Court-windmill-Taxscan.jpg "Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]")
If Amount written on Instrument is ‘absurd’, it can’t be called ‘Cheque’, doesn’t attract any legal consequence: Delhi Court
The Patiala House court Delhi held that the cheque is invalid on the face of it because of uncertainty as to the amount written in words. If the amount written on the Instrument is ‘absurd’, it can...
![Agency Commission received by Canara Bank for RBI not subject to Service Tax: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Canara-Bank-Taxscan.jpg "Agency Commission received by Canara Bank for RBI not subject to Service Tax: CESTAT [Read Order]")
