![Interest & Rental Income of the Club is Chargeable to Tax: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Interest & Rental Income of the Club is Chargeable to Tax: ITAT Delhi [Read Order]")
Interest & Rental Income of the Club is Chargeable to Tax: ITAT Delhi [Read Order]
In a recent ruling, the Delhi bench of Income Tax Appellate Tribunal observed that the interest income and rental income received by a Club is taxable...
If main object of institution was “charitable” in nature, “Amendment of S. 2(15) of Income Tax Act will not be applicable: ITAT Mumbai [Read Order]
The Income Tax Appellate Tribunal, Mumbai in a recent ruling, held that the amendment of section 2(15) of the Act w.e.f. 01.04.2009 will not affect a society/ association if primary purpose was...
S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]
The ITAT Kolkata in a recent ruling held that the provisions of section 14A of the Income Tax Act can be invoked to make a disallowance on account of expenditure incurred in relation to the exempt...
![S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]](/images/placeholder.jpg "S. 14A is Applicable in case of Disallowance on account of Expenditure incurred from Exempt Income in the form of Dividend: ITAT Kolkata [Read Order]")
Calcutta HC allows deduction for the Expenses Incurred in Development of Software Application u/s 36(1)(iii) of the Income Tax Act [DOWNLOAD JUDGMENT]
The High Court of Calcutta, on 18th March, delivered a landmark judgment by allowing deduction u/s 36(1)(iii)to the assessee, the Indian Aluminum Company Ltd for the expenses incurred by them in...
Delhi HC grants Exemption for Payments towards the Penal Interest for Violation of Agreement under Income Tax Act [DOWNLOAD JUDGMENT]
The Delhi High Court while deciding a writ petition filed by the CEAT Ltd against the CBDT granted an exemption to the petitioners under Section 10(15)(iv)(c) of the Income Tax Act, 1961 for the...
Delhi HC Sets Aside the Order of ITAT favouring exemption to the Janata Party u/s 13A of Income Tax Act [DOWNLOAD JUDGMENT]
The Delhi High Court, on an appeal filed by the CIT, Delhi against the “Janata Party” struck down the order of ITAT in which a clean chit had been given to the said party on an allegation of misuse of...
Voluntary contributions towards the political parties are not capital receipts and the income of a political party by way of voluntary contributions would be included in the Taxable Income; Delhi HC
Two appeals between the Indian National Congress Committee and the Commissioner of Income Tax, New Delhi were pending before the High Court of Delhi. The Court considered these two appeals together...
