![Expenses incurred for Buy-Back of Shares amount to Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-expenses-Buy-Back-Shares-Revenue-Expenditure-Taxscan.jpg "Expenses incurred for Buy-Back of Shares amount to Revenue Expenditure: ITAT [Read Order]")
Expenses incurred for Buy-Back of Shares amount to 'Revenue Expenditure': ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has recently held that the expenses incurred by the Company for the buy-back of shares...
![Amendment in Section 40(a)(ia) of Income Tax Act is Retrospective in Nature: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Karnataka-High-Court-Income-Tax-Act-Taxscan.jpg "Amendment in Section 40(a)(ia) of Income Tax Act is Retrospective in Nature: Karnataka HC [Read Order]")
![Remedy can’t be invoked by making High Court as middle authority between Commercial Tax Authority and Appellate Authority: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/Karnataka-HighCourt-Taxscan.jpg "Remedy can’t be invoked by making High Court as middle authority between Commercial Tax Authority and Appellate Authority: Karnataka HC [Read Order]")
![2 Apartments in Same Building is 1 Residential Unit, to Compute Capital Gain Deduction: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/06/Residential-unit.jpeg "2 Apartments in Same Building is 1 Residential Unit, to Compute Capital Gain Deduction: Karnataka HC [Read Judgment]")
![ATMs are Computers, Entitled to a Higher Rate of Depreciation: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/06/ATM-Depreciation-Karnataka-High-Court-Taxscan.jpg "ATMs are Computers, Entitled to a Higher Rate of Depreciation: Karnataka HC [Read Judgment]")
Karnataka HC grants Anticipatory Bail to Person alleged of Wrongful Availment of ITC [Read Order]
The High Court of Karnataka granted the anticipatory bail to the petitioner alleged to have involved in fraudulent availment of Input Tax Credit (ITC) on the basis of invoices without actual supply of...
![Karnataka HC grants Anticipatory Bail to Person alleged of Wrongful Availment of ITC [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/06/ITC-Wrongful-Availment-Bail-Taxscan.jpg "Karnataka HC grants Anticipatory Bail to Person alleged of Wrongful Availment of ITC [Read Order]")
Tribunal failed to deal with Claim of Assessee for Deduction under Section 10A of Income Tax Act, 1961: Karnataka HC [Read Judgment]
The High Court of Karnataka held that the tribunal has not dealt with the claim of the assessee for deduction under Section 10A of the Income Tax Act, 1961. The assessee, M/S Yokogawa India Ltd. is...
![Tribunal failed to deal with Claim of Assessee for Deduction under Section 10A of Income Tax Act, 1961: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2019/04/GST-TRAN-1-Karnataka-High-Court-Taxscan.jpg "Tribunal failed to deal with Claim of Assessee for Deduction under Section 10A of Income Tax Act, 1961: Karnataka HC [Read Judgment]")
Mere grant of Registration shall not result in grant of benefit u/s 10 and 11: Karnataka HC [Read Judgment]
The High Court of Karnataka held that the mere grant of registration to the assessee shall not result in the grant of benefit to it ipso facto under Sections 11 and 12 of the Income Tax Act, 1961 and...
Statutory Benefits to Assessee can’t be denied on Technicalities: Karnataka HC on rejection of C-Forms due to Late Submission
The High Court of Karnataka held that merely for the reason that C-Forms are filed belatedly, it cannot be rejected since the aim of the legislature is to provide a concessional tax benefit to the...
![No Service Tax on Clubs / Associations incorporated prior to July 1, 2012: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Income-Tax-Proceedings-Karnataka-High-Court-Taxscan.jpg "No Service Tax on Clubs / Associations incorporated prior to July 1, 2012: Karnataka HC [Read Judgment]")
Income for Letting out of Mall should be Taxed as Business Income of Builder: Karnataka HC [Read Judgment]
The High Court of Karnataka upheld the decision of the tribunal and held that income received from Forum Mall should be considered as “Income from business” and not “Income from house property”,...
![Income for Letting out of Mall should be Taxed as Business Income of Builder: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/05/Forum-Mall-Karnataka-High-Court-Income-Tax-Taxscan.jpeg "Income for Letting out of Mall should be Taxed as Business Income of Builder: Karnataka HC [Read Judgment]")
Contravention of COVID-19 Advisory by any Judicial Officer / Staff will be treated as Misconduct: Karnataka HC [Read Circular]
The High Court of Karnataka issued a circular on Friday, stating that any contravention of COVID-19 Advisory by any Judicial Officer or staff will be treated as misconduct, which will attract a...
