Income from Leasing IT Park Property Classifiable as Business Income: Madras HC [Read Order]
In a recent ruling, the Madras High Court upheld the Income Tax Appellate Tribunal's (ITAT) decision that income derived from leasing out property in...
![Non-Appearance due to Income Tax Notice issued to Ex-Employee: ITAT sets aside Ex Parte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Notice-ITAT-Ex-Parte-Order-TAXSCAN.webp "Non-Appearance due to Income Tax Notice issued to Ex-Employee: ITAT sets aside Ex Parte Order [Read Order]")
![TDS Applicability on Accounting Provisions made towards Unfinished Work: ITAT restores Case back to CIT (A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Payment-TDS-Interest-Revenue-Penalty-ITAT-Payment-of-TDS-taxscan.jpg "TDS Applicability on Accounting Provisions made towards Unfinished Work: ITAT restores Case back to CIT (A) [Read Order]")
Payment to Pollution Control Board for Environmental Norms Violation does not amount to Penalty, No Disallowance under Income Tax Act: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) has held that payment made by the assessee to the Pollution Control Board for violation of environmental norms would not be penal and held...
![Payment to Pollution Control Board for Environmental Norms Violation does not amount to Penalty, No Disallowance under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-appellate-tribunal-income-tax-income-tax-news-income-tax-act-TAXSCAN.jpg "Payment to Pollution Control Board for Environmental Norms Violation does not amount to Penalty, No Disallowance under Income Tax Act: ITAT [Read Order]")
[TAXSCAN 360] How to Pay Less Taxes: Tax Exemptions and Deductions Available for the Salaried Class
It wouldn’t be a hyperbole to say that the salaried individuals are the backbone of the Indian revenue system as the taxpayers are mostly constituted by them. As a salaried employee, one might have...
Appeal Pending against Assessment order passed under Income Tax Act: Kerala HC directs to consider Stay Petition [Read Order]
The Kerala High Court directed to consider the stay petition on the ground that the appeal was pending against the assessment order pass under Income Tax Act, 1961. Against the assessment order...
![Appeal Pending against Assessment order passed under Income Tax Act: Kerala HC directs to consider Stay Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Kerala-high-court-Kerala-hc-kerala-hc-news-Income-tax-act-Stay-petition-TAXSCAN.jpg "Appeal Pending against Assessment order passed under Income Tax Act: Kerala HC directs to consider Stay Petition [Read Order]")
Assessee can adopt one or the other method for income computation if a particular method has not been made mandatory: Kerala HC [Read Order]
A Single Bench of the Kerala High Court has directed the Department to either accept the LIFO-based valuation for both opening and closing stock for the 2017-18 assessment year or allow the...
ITAT allows Exemption to Charitable Trust Considering Activity: Supreme Court denies Delayed SLP Filing by Income Tax Dept. citing Insufficient Cause [Read Judgement]
The Supreme Court refused to condone the delay of the income tax department in filing a Special Leave Petition ( SLP ) due to insufficient cause. The SLP arose from the impugned final judgment and...
![ITAT allows Exemption to Charitable Trust Considering Activity: Supreme Court denies Delayed SLP Filing by Income Tax Dept. citing Insufficient Cause [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/05/Supreme-Court-Income-Tax-ITAT-Income-Tax-Dept-Taxscan.jpg "ITAT allows Exemption to Charitable Trust Considering Activity: Supreme Court denies Delayed SLP Filing by Income Tax Dept. citing Insufficient Cause [Read Judgement]")