![No disallowance towards interest cost u/s 14A of Income Tax Act when investment made out of own funds: ITAT grants Relief to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-12.jpg "No disallowance towards interest cost u/s 14A of Income Tax Act when investment made out of own funds: ITAT grants Relief to ICICI Bank [Read Order]")
No disallowance towards interest cost u/s 14A of Income Tax Act when investment made out of own funds: ITAT grants Relief to ICICI Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while granting relief to ICICI Bank, held that no disallowance shall be made towards the...
![MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/MTM-losses-ICICI-Bank-ITAT-AO-MTM-TAXSCAN.jpg "MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]")
![ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Addition-made-towards-Gift-of-cash-amount-deposited-ICICI-Bank-taxscan.jpg "ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]")
![Wrongful Allegation of Non-Current Investment made in Share Application money of Entity: Delhi HC sets aside the Assessment order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Wrongful-Allegation-Non-Current-Investment-Share-Application-money-Delhi-HC-Assessment-order-taxscan.jpg "Wrongful Allegation of Non-Current Investment made in Share Application money of Entity: Delhi HC sets aside the Assessment order [Read Order]")
RBI's UDGAM Portal entrusts 30 Banks, Including SBI, Axis, HDFC to Address Unclaimed Deposits: Check Complete Lists of Banks here [Read Press Release]
The Reserve Bank of India (RBI) has assigned 30 banks with the responsibility of managing unclaimed deposits via the UDGAM portal. On August 17, 2023, the RBI Governor introduced a centralized web...
![RBIs UDGAM Portal entrusts 30 Banks, Including SBI, Axis, HDFC to Address Unclaimed Deposits: Check Complete Lists of Banks here [Read Press Release]](https://www.taxscan.in/wp-content/uploads/2023/10/RBI-UDGAM-Portal-entrusts-30-Banks-Including-SBI-Axis-HDFC-Address-Deposits-Check-Complete-Lists-Banks-TAXSCAN.jpg "RBIs UDGAM Portal entrusts 30 Banks, Including SBI, Axis, HDFC to Address Unclaimed Deposits: Check Complete Lists of Banks here [Read Press Release]")
![Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Extending-Corporate-Guarantee-AE-Constitutes-International-Transaction-ITAT-TAXSCAN.jpg "Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]")
MCA imposes Penalty of Rs. 5000 on Chartered Accountant failing to Disclose Specified Bank Notes in Auditor’s Report
The MCA has fined a Chartered Accountant (CA) Rs. 5000 due to his omission of reporting the details of Specified Bank Notes that were deposited in banks in the audit report of Vinayak Builders and...
Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted exemption to ICICI Bank as books of accounts prepared under Section 115JB read with Section 211(2) of the Companies Act are not...
![Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Books-of-Accounts-Prepared-Companies-Act-not-Applicable-ITAT-Grants-Exemption-to-ICICI-Bank-TAXSCAN.jpg "Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]")
Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Lucknow bench held that addition under Section 69 of Income Tax Act should not be made on the basis of a ledger account seized from the third party in...
![Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Act-shall-not-be-made-on-basis-of-ledger-account-seized-from-third-party-absence-of-clinching-evidence-of-Cash-Payments-towards-purchase-of-Flat-ITAT-TAXSCAN.jpg "Addition u/s 69 of Income Tax Act shall not be made on basis of ledger account seized from third party on absence of clinching Evidence of Cash Payments towards Purchase of Flat: ITAT [Read Order]")
Taxpayers must File Cross-objections within Time Limit: ITAT dismisses ICICI Bank's Cross-objection [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed a cross objection filed by ICICI Bank for being filed late and held that taxpayers must file cross-objections within the...
![Taxpayers must File Cross-objections within Time Limit: ITAT dismisses ICICI Banks Cross-objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Taxpayers-File-Cross-objections-Time-Limit-ITAT-dismisses-ICICI-Banks-Cross-objection-ICICI-Bank-ITAT-Taxscan.jpg "Taxpayers must File Cross-objections within Time Limit: ITAT dismisses ICICI Banks Cross-objection [Read Order]")
![Service Tax Leviable on Legal and Professional Charges under BAS: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Service-Tax-Leviable-Legal-Professional-Charges-BAS-CESTAT-TAXSCAN.jpg "Service Tax Leviable on Legal and Professional Charges under BAS: CESTAT [Read Order]")