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Amount invested in Capital Gain Scheme is not subject to Tax in the Year of Investment: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the amount once invested in the capital gain scheme cannot be brought to tax in the year of the investment itself without...

Amount invested in Capital Gain Scheme is not subject to Tax in the Year of Investment: ITAT [Read Order]
Taxscan Team

No Royalty on Licensing of Software: Delhi HC dismisses Appeal against Microsoft [Read Order]

In a major relief to Microsoft, the Delhi High Court has dismissed an appeal filed by the department upholding the ITAT order holding that licensing of software products of Microsoft in the Territory...

No Royalty on Licensing of Software: Delhi HC dismisses Appeal against Microsoft [Read Order]
Taxscan Team

S. 148A Notice through E-filing Portal giving 7 Days to file Reply is 'Unreasonably Short', Prima Facie Violates Natural Justice Principles: Punjab & Haryana HC [Read Order]

The Punjab & Haryana High Court, while considering a writ petition challenging re-assessment proceedings by holding that the notice under section 148A of the Income Tax Act, served through the...

S. 148A Notice through E-filing Portal giving 7 Days to file Reply is Unreasonably Short, Prima Facie Violates Natural Justice Principles: Punjab & Haryana HC [Read Order]
Taxscan Team

Re-Assessment Notice via E-Portal received on 1st April 2022: Calcutta HC Temporarily Stays Proceedings [Read Order]

The Calcutta High Court, on Tuesday, stayed the proceedings initiated under a re-assessment notice under section 148 of the Income Tax Act, 1961 through the e-portal received on 1st April 2022. ...

Re-Assessment Notice via E-Portal received on 1st April 2022: Calcutta HC Temporarily Stays Proceedings [Read Order]
Taxscan Team

Loss on Trading in Derivatives of Securities can be Adjusted against Business Income: Bombay HC [Read Order]

A division bench of the Bombay High Court comprising Justices R.D. Dhanuka and S.G. Mehare, has held that the loss on trading in derivatives of securities not a speculative loss, can be set off...

Loss on Trading in Derivatives of Securities can be Adjusted against Business Income: Bombay HC [Read Order]
Taxscan Team

Income Tax Penalty not leviable in the Absence of Specific Charge against Assessee: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh, Vice President and Shri Manoj Kumar Aggarwal, AM has held that the income tax penalty levied under section...

Income Tax Penalty not leviable in the Absence of Specific Charge against Assessee: ITAT [Read Order]
Taxscan Team

Reply to Notice couldn’t file due to Glitches on Income Tax Portal: Calcutta HC orders for Fresh Assessment [Read Order]

In an assessee-friendly ruling, the Calcutta High Court has asked the Assessing Officer to conduct fresh assessment proceedings since the assessee could not file the reply to notice due to technical...

Reply to Notice couldn’t file due to Glitches on Income Tax Portal: Calcutta HC orders for Fresh Assessment [Read Order]
Taxscan Team

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