![Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Madras-High-Court-Assessment-Order-Income-Tax-Income-tax-news-taxscan.jpg "Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]")
Assessment Order issued beyond Time-Limit u/s 144C(13) of Income Tax Act is Unsustainable: Madras HC [Read Order]
In a recent decision the Madras High Court observed that the assessment order issued beyond time-limit under Section 144C(13) of the Income Tax Act,...
![Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Kolkata-ITAT-Income-Tax-ITAT-Decision-on-Depreciation-Removal-ITAT-Net-Margin-Calculation-Guidelines-Taxscan.jpg "Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]")
![Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Revenue-Expenditure-Revenue-Expenditure-on-Shelved-Projects-ITAT-Decision-on-Project-Expenditure-Taxscan.jpg "Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]")
![Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Section-10A-of-Income-tax-act-Export-turnover-Tax-deduction-taxscan.jpg "Expenses excluded from Export Turnover to be excluded from Total Turnover while computing Deduction u/s 10A of Act: ITAT [Read Order]")
![Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-Act-Notice-necessarily-lead-Disallowance-Petty-Expenses-ITAT-taxscan.jpg "Non reply to Section 133(6) of the Income Tax Act, Notice cannot necessarily lead to Disallowance of Petty Expenses: ITAT [Read Order]")
Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that goodwill was an intangible asset, depreciation allowable under Section 32(1) of the Income Tax Act, 1961 The assesse...
![Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Hyderabad-Goodwill-Intangible-asset-Taxation-on-depreciation-taxscan.jpg "Goodwill is an Intangible asset, Depreciation Allowable u/s 32(1) of Income Tax Act: ITAT [Read Order]")
No objection to draft assessment order filed by assessing authority is palpably wrong:Â Kerala HC sets aside assessment order [Read Order]
The Kerala High Court set aside the assessment order as it deemed the assessing authority's failure to file objections to the draft assessment order palpably wrong. The Petitioner was a...
ITAT directs AO to allow cost of Improvement with Indexation and Re-Compute Capital Gains u/s 48 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to allow the cost of improvement with indexation and to re-compute capital gains under Section 48...
![ITAT directs AO to allow cost of Improvement with Indexation and Re-Compute Capital Gains u/s 48 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-delhi-Income-tax-Capital-Gains-Assessing-Officer-taxscan.jpg "ITAT directs AO to allow cost of Improvement with Indexation and Re-Compute Capital Gains u/s 48 of Income Tax Act [Read Order]")
75% Gross Profit Earned from Indian Operations: Delhi HC upholds Direction of the AO to Adopt Attribution Rate of Revenue [Read Order]
The Delhi High Court upheld the direction of the Assessing Officer ( AO ) to adopt the attribution rate of revenue as 75% gross profit earned from Indian operations. By the instant appeal, the...
Mere fact that employees efficiency improves with learnings acquired through seminars cannot be treat such expenses as Capital Expenditures: Delhi HC [Read Order]
The Delhi High Court has held that the mere fact that an employee's efficiency improves with learnings acquired through seminars cannot be treated as such expenses as capital expenditures. The...
Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]
The revenue challenged the order passed by the Income Tax Appellate Tribunal about Assessment Year 2012-13. On advance notice, the respondent/assessee entered an appearance through...
![Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-Absence-of-Borrowed-Fund-Borrowed-Fund-Books-of-Accounts-Delhi-High-Court-TAXSCAN.jpg "Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]")
Benefit of Article 8 of India-Singapore DTAA shall be allowed when Vessel Handling Charges were allowed to Tax by Indian Entity: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the benefit of Article 8 of the India Singapore DTAA shall be allowed when vessel handling charges were allowed to be taxed by...
![Benefit of Article 8 of India-Singapore DTAA shall be allowed when Vessel Handling Charges were allowed to Tax by Indian Entity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Benefit-India-Singapore-DTAA-Vessel-Handling-Charges-Tax-Indian-Entity-ITAT-TAXSCAN.jpg "Benefit of Article 8 of India-Singapore DTAA shall be allowed when Vessel Handling Charges were allowed to Tax by Indian Entity: ITAT [Read Order]")