![Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-Tax-Deduction-Commercial-Establishments-ITAT-SC-Ruling-taxscan.jpg "Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]")
Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench, while following the Apex Court ruling in the case of Sarkar Builders, held that the...
![Deemed Dividend u/s 2(22)(e) not applicable on Non-Shareholders: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deemed-dividend-applicable-Non-Shareholders-ITAT-Taxscan.jpg "Deemed Dividend u/s 2(22)(e) not applicable on Non-Shareholders: ITAT [Read Order]")
![Arrangement b/w Husband and Wife without Real Money Exchange not amount to Unexplained Investment u/s. 69: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Arrangement-Husband-and-Wife-Real-Money-Exchange-Unexplained-Investment-ITAT-Taxscan.jpg "Arrangement b/w Husband and Wife without Real Money Exchange not amount to Unexplained Investment u/s. 69: ITAT [Read Order]")
![100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deduction-Industry-Substantial-Expansion-Incorporation-ITAT-Taxscan.jpeg "100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]")
Double Penalty for Non-Linking of PAN-Aadhaar, TDS on Cryptos: Three Major Income Tax Changes from July
1st July 2022 was a significant day for the taxpayers as some new important changes have been made in the Income Tax Act, 1961 which may affect the taxpayer’s life significantly. Non-linking of...
Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t create Commercial Right: ITAT [Read Order]
In a significant ruling of Banglore International Airport, the Bangalore Bench, of the Income Tax Appellate Tribunal, held that depreciation is not allowable for expenditure availed on professional...
![Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t create Commercial Right: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Depreciation-Expenditure-professional-legal-services-ITAT-taxscan.jpg "Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t create Commercial Right: ITAT [Read Order]")
![Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Goodwill-Slump-Sale-Agreement-Depreciation-ITAT-Taxscan.jpeg "Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]")
No Income Tax on Transfer of NFT: CBDT notifies Exclusion of Non-Fungible Token as Virtual Digital Asset [Read Notification]
In a significant move, the Central Board of Direct Taxes (CBDT) has notified that the Non-fungible token (NFTs) shall not be treated as Virtual Digital Assets for the purpose of section 2(47) of the...
![No Income Tax on Transfer of NFT: CBDT notifies Exclusion of Non-Fungible Token as Virtual Digital Asset [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-Tax-Transfer-of-NFT-NFT-CBDT-Non-Fungible-Token-Virtual-Digital-Asset-taxscan.jpg "No Income Tax on Transfer of NFT: CBDT notifies Exclusion of Non-Fungible Token as Virtual Digital Asset [Read Notification]")
Hospitals need to deduct TDS u/s 194J for Payments to Doctors engaged as Retainers and Consultants: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the hospitals shall deduct TDS under section 194J of the Income Tax Act, 1961 in respect of the payments made to doctors...
![Hospitals need to deduct TDS u/s 194J for Payments to Doctors engaged as Retainers and Consultants: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Hospitals-TDS-Payments-Doctors-Retainers-Consultants-ITAT-taxscan.jpeg "Hospitals need to deduct TDS u/s 194J for Payments to Doctors engaged as Retainers and Consultants: ITAT [Read Order]")
Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cuttack bench has held that the multiple flats in different floors of the same building cannot be treated as a single residential house for the purpose of...
![Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Flats-Residential-House-Capital-Gain-Exemption-ITAT-Taxscan.jpg "Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]")
CBDT notifies Special Courts for Trial of Offences under Income Tax Act 1961 in Dehradun [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified Special Courts for Trial of Offences under the Income Tax Act, 1961 in Dehradun. The Board has issued a notification on Friday wherein it was...
![CBDT notifies Special Courts for Trial of Offences under Income Tax Act 1961 in Dehradun [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/06/CBDT-Special-Courts-Trial-of-Offences-Income-Tax-Act-1961-Taxscan.jpg "CBDT notifies Special Courts for Trial of Offences under Income Tax Act 1961 in Dehradun [Read Notification]")