ITAT remands matter back to CIT(A) for determining Tax Liability arising on Assessee Trust on premise of Non-Availability of Registration u/s 12A
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench remanded the matter back to CIT(A) for determining tax liability arising on the assessee...
![Income Tax: PCIT can’t expand Limited Scrutiny while invoking Revisional Jurisdiction, says ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/PCIT-Limited-Scrutiny-Revisional-Jurisdiction-ITAT-Taxscan.jpg "Income Tax: PCIT can’t expand Limited Scrutiny while invoking Revisional Jurisdiction, says ITAT [Read Order]")
![Reassessment invalid If satisfaction for Reopening recorded in Mechanical manner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Reassessment-invalid-reopening-mechanical-manner-ITAT-taxscan.jpeg "Reassessment invalid If satisfaction for Reopening recorded in Mechanical manner: ITAT [Read Order]")
![Interest Income cant be included in Total Income of Assessee as Mercantile System of Accounting in juxtaposition to ‘Real Income Theory’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Interest-Income-mercantile-system-of-accounting-real-income-theory-ITAT-Taxscan.jpg "Interest Income cant be included in Total Income of Assessee as Mercantile System of Accounting in juxtaposition to ‘Real Income Theory’: ITAT [Read Order]")
![ITAT deletes Addition on account of Interest received from Bank and on Advances to Contractors [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/ITAT-interest-received-from-bank-contractors-taxscan.jpeg "ITAT deletes Addition on account of Interest received from Bank and on Advances to Contractors [Read Order]")
ITAT deletes Disallowance made on Bonus, Commission paid to the Directors as per Agreements of Appointment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench deleted the disallowance made on bonus, commission paid to the directors as per agreements of appointment. The assessee, M/s. Hamilton &...
![ITAT deletes Disallowance made on Bonus, Commission paid to the Directors as per Agreements of Appointment [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/ITAT-disallowance-bonus-agreements-of-appointment-Taxscan.jpg "ITAT deletes Disallowance made on Bonus, Commission paid to the Directors as per Agreements of Appointment [Read Order]")
Tax Authorities can’t evade responsibility to ensure only correct and due Taxes are collected, No Taxpayer to be burdened with unfair additions: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench held that the Tax authorities can not evade responsibility to ensure only correct and due taxes are collected and no taxpayer to be burdened...
![Tax Authorities can’t evade responsibility to ensure only correct and due Taxes are collected, No Taxpayer to be burdened with unfair additions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/ITAT-due-taxes-taxpayer-tax-authorities-taxscan.jpg "Tax Authorities can’t evade responsibility to ensure only correct and due Taxes are collected, No Taxpayer to be burdened with unfair additions: ITAT [Read Order]")
No TDS applicable on Lease Financial Amount: Karnataka HC allows relief to Lease Financial Company [Read Judgment]
The Karnataka High Court ruled that no deduction is required to be made in respect of the payments to lease financial companies on the lease financial amounts. The Assessee, Texas Instruments...
![No TDS applicable on Lease Financial Amount: Karnataka HC allows relief to Lease Financial Company [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/05/TDS-No-Deduction-required-Payments-to-Lease-Financial-Company-Lease-Financial-Amounts-Karnataka-High-Court-Taxscan.jpg "No TDS applicable on Lease Financial Amount: Karnataka HC allows relief to Lease Financial Company [Read Judgment]")
Income Tax Settlement Commission’s Order granting Refund to Assessee included TDS: ITAT orders to Refund of Rs. 70.53 Lakhs
The Income Tax Appellate Tribunal (ITAT), Pune Bench ordered the Refund of Rs. 70.53 Lakhs and said that the IT Settlement Commission’s Order granting Refund to Assessee included the Tax...
Protective Assessment has No Independent Standing but dependent on Final Outcome of Substantive Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench ruled that protective assessment has no independent standing but dependent on the final outcome of the substantive assessment. The income...
![Protective Assessment has No Independent Standing but dependent on Final Outcome of Substantive Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Protective-assessment-substantive-assessment-ITAT-Taxscan.jpg "Protective Assessment has No Independent Standing but dependent on Final Outcome of Substantive Assessment: ITAT [Read Order]")
Banking industry necessarily needs to have Robust and Transparent Mechanisms of Zero Tolerance of Abuse of Power: ITAT suggests for Tax Advisory Cell
The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench while suggesting for the Tax Advisory Cell said that the banking industry necessarily needs to have robust and transparent mechanisms of...
