![Re-Assessment based on Information from Investigation Wing of Income Tax Department is Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Re-Assessment-Information-from-Investigation-Wing-Investigation-Wing-of-Income-Tax-Department-Income-Tax-Department-Income-Tax-ITAT-taxscan.jpg "Re-Assessment based on Information from Investigation Wing of Income Tax Department is Valid: ITAT [Read Order]")
Re-Assessment based on Information from Investigation Wing of Income Tax Department is Valid: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) observed that re-assessment based on information from Investigation Wing of Income Tax...
![Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Hedging-Transactions-Non-Cleared-Securities-ITAT-Disallowance-TAXSCAN.jpg "Hedging Transactions in ‘Non-Cleared Securities’ are Not Illegal: ITAT deletes Disallowance [Read Order]")
![Income Tax Addition against Company based on Statement of Director during Search cannot be Confirmed without Supporting Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Addition-Search-Supporting-Evidence-ITAT-TAXSCAN.jpg "Income Tax Addition against Company based on Statement of Director during Search cannot be Confirmed without Supporting Evidence: ITAT [Read Order]")
![CBDT Notifies Income Tax Exemption to Indian Institute of Science Education and Research, Tirupati [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/01/CBDT-Income-Tax-Income-Tax-Exemption-Indian-Institute-of-Science-Education-and-Research-taxscan.jpg "CBDT Notifies Income Tax Exemption to Indian Institute of Science Education and Research, Tirupati [Read Notification]")
![Any Action of Income Tax Dept Violating CBDT Instructions Untenable in Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Dept-CBDT-CBDT-Instructions-income-Tax-Law-ITAT-taxscan.jpg "Any Action of Income Tax Dept Violating CBDT Instructions Untenable in Law: ITAT [Read Order]")
![Approval u/s 10(23C) cannot be revoked when objects of Society have remained same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Income-Tax-objects-of-Society-Approval-taxscan-.jpg "Approval u/s 10(23C) cannot be revoked when objects of Society have remained same: ITAT [Read Order]")
CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified the amended procedure and guidelines for submission of Statement of Financial Transactions (SFT) for Interest income and abolished the limit of...
![CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/01/CBDT-Procedure-and-Guidelines-for-submission-of-SFT-Interest-Income-Taxscan.jpg "CBDT amends Procedure and Guidelines for submission of SFT for Interest Income: Abolishes Limit of Rs. 5,000 [Read Notification]")
CBDT Extends Time Limit for Compliance to be Made for Claiming Capital Gain Exemption [Read Circular]
The Central Board of Direct Taxes ( "CBDT” ) has issued a circular extending the time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act,1961 in...
![CBDT Extends Time Limit for Compliance to be Made for Claiming Capital Gain Exemption [Read Circular]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-TAX-CBDT-Time-Limit-Capital-Gain-Exemption-Capital-Gain-taxscan.jpeg "CBDT Extends Time Limit for Compliance to be Made for Claiming Capital Gain Exemption [Read Circular]")
NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]
A two-judge bench of the Supreme Court has held that the non-banking finance companies are not liable to pay interest tax on the interest component received under the hire-purchase agreement under...
![NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/NBFCs-Interest-Tax-Interest-Tax-on-Interest-received-Hire-Purchase-Agreement-Supreme-Court-taxscan.jpg "NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]")
