![Supreme Court Dismisses Income Tax Depts SLP in LTCG Claim on Shares Matter, Refuses to Condone 273-Days Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Supreme-Court-Income-Tax-Income-Tax-department-SLP-Special-Leave-Petition-TAXSCAN.jpg "Supreme Court Dismisses Income Tax Depts SLP in LTCG Claim on Shares Matter, Refuses to Condone 273-Days Delay [Read Order]")
Supreme Court Dismisses Income Tax Dept's SLP in LTCG Claim on Shares Matter, Refuses to Condone 273-Days Delay [Read Order]
The Supreme Court dismissed the Special Leave Petition ( SLP ) filed by the Income Tax Department regarding the Long Term Capital Gain ( LTCG ) on...
![12 Months Time limit on Filing Application for Compounding Offences: Madras HC strikes down CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Time-limit-Filing-Filing-Application-Offences-CBDT-Circular-CBDT-taxscan.jpg "12 Months Time limit on Filing Application for Compounding Offences: Madras HC strikes down CBDT Circular [Read Order]")
![Transaction of shares not being in penny stocks cant be covered by CBDT Circular: ITAT upholds order of DCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Transaction-of-shares-not-being-in-penny-stocks-covered-by-CBDT-Circular-ITAT-upholds-order-of-DCIT-TAXSCAN.jpg "Transaction of shares not being in penny stocks cant be covered by CBDT Circular: ITAT upholds order of DCIT [Read Order]")
![Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fringe-Benefits-Tax-Allowable-Deduction-Computing-Book-Profit-Income-Tax-Act-ITAT-TAXSCAN.jpg "Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]")
Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) condoned a delay of 264 days in filing appeal and held that the assessee is eligible for set off of excess application of income of...
![Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Allowance-of-Set-off-of-Earlier-Years-Excess-Application-from-Subsequent-Year-Surplus-Income-Income-Tax-Act-to-Charitable-Trust-ITAT-Condones-Delay-TAXSCAN.jpg "Allowance of Set off of Earlier Years Excess Application from Subsequent Year Surplus Income u/s 11 of Income Tax Act to Charitable Trust : ITAT Condones Delay of 264 Days [Read Order]")
Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that as per the CBDT (Central Board of Direct Taxes) circular, 500 gms for the assessee, 100 gms for her husband and 250 gms for her...
![Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Quantity-Gold-Jewellery-Allowable-CBDT-Circular-Unexplained-Jewellery-Income-Tax-Act-ITAT-TAXSCAN.jpg "Quantity of Gold Jewellery Less than Allowable Limit by CBDT Circular not Unexplained Jewellery u/s 69 of Income Tax Act: ITAT [Read Order]")
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-Loss-of-Chit-Fund-Utilized-Chit-Fund-Loss-of-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-ITAT-taxscan.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")
Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) concurred with the contentions of the assessee and found that there was genuine and bonafide reason for violating sections 269SS and 269T...
![Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Violating-Sections-269SS-269T-Income-Tax-Act-Genuine-and-Bonafide-ITAT-Penalty-Order-Taxscan.jpg "Reasons for Violating Sections 269SS & 269T of Income Tax Act Genuine and Bonafide: ITAT quashes Penalty Order [Read Order]")
Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]
The Amritsar bench of Income Tax Appellate Tribunal (ITAT) quashed the assessment order as there was no delay in the payment of the employer contribution and disallowed the addition. The bench...
![Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Cheque-Clearance-of-Payment-Due-Date-ITAT-ITAT-quashes-Addition-CBDT-Circular-taxscan.jpg "Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]")
Addition Against Housewife for having Deposit of Rs.2,40,000/- during Demonetization Period is Against CBDT Circular: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, ruled that addition made against housewife for having a deposit of Rs.2,40,000/, during...
![Addition Against Housewife for having Deposit of Rs.2,40,000/- during Demonetization Period is Against CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Housewife-Deposit-Demonetization-Period-CBDT-Circular-ITAT-Income-Tax-taxscan.jpg "Addition Against Housewife for having Deposit of Rs.2,40,000/- during Demonetization Period is Against CBDT Circular: ITAT [Read Order]")