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Income Tax Act 1961

Disallowance under section 14A not to be considered while computing Book Profit: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance under section 14A of the Income Tax Act, 1961 cannot be...

Re-Assessment cannot be made in a Casual and Whimsical Manner: ITAT [Read Order]

No Specific Charges mentioned in S. 274 Notice: ITAT deletes Penalty Order [Read Order]

Payment for Advertisement Space on Website does not amount to 'Royalty', No TDS: ITAT [Read Order]

Non-Cooperation with Dept cannot be Sole ground for Addition u/s 69A: ITAT [Read Order]

Notice issued without Jurisdiction is Invalid: Allahabad HC quashes Re-Assessment Order [Read Order]

A division bench of the Allahabad High Court comprising Justice Surya Prakash Kesarwani and Justice Jayant Banerji has ruled that once the notice under Section 148 of the Income Tax Act, 1961, issued...

Advance Payment to purchase Agricultural Land from Sale Proceed deductible u/s 54B of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot bench has held that the advance payment to purchase agricultural land from the sale proceed of the land sold by him is eligible for benefit of...

ITAT Weekly Round-Up

This weekly round-up analytically summarizes the key judgments reported at Taxscan.in by the Income Tax Appellate Tribunal (ITAT) from the 1st to the 7th of May 2022. Anup Service Station v. DCIT...

Firm not Taxable for Capital introduced by Partner: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the Firm cannot made taxable for the capital introduced by the Partner as section 68 of the Income Tax Act, 1961 cannot be...

Reimbursement of Salary based on Cost to Cost without any Profit element cannot attract TDS Liability u/s 195: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that Tax Deduction at Source (TDS) is not applicable to reimbursement of salary based on the cost to cost without any profit...

Failure to file Reply to Draft Assessment Order u/s 144B due to Technical Glitches on Income Tax Portal: Calcutta HC quashes Order

The Calcutta High Court has quashed an assessment order since the assessee failed to file reply to the draft assessment order under section 144B of the Income Tax Act, 1961 due to technical glitches...

Nature of Trust cannot be treated as 'Religious' when There is No distinction between Caste, Creed, Race, or Religion: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the object of the Trust cannot be characterized as religious object especially when it does not make a distinction...

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