![Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Depreciation-statutory-allowance.jpg "Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]")
Depreciation being Statutory allowance cannot be restricted on basis of Personal use: ITAT [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) has held that the depreciation being statutory allowance cannot be restricted on the basis...
![Deduction u/s 54F can be claimed to the extent of amount of Capital Gain utilized till Filing of Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Deduction-us-54F-Capital-Gain-Filing-Income-Tax-Return-ITAT-Incometaxreturnfiling-Taxscan.jpeg "Deduction u/s 54F can be claimed to the extent of amount of Capital Gain utilized till Filing of Income Tax Return: ITAT [Read Order]")
![Rajasthan HC disposes of PIL pointing out difficulties faced by Assessees on account of Glitches in official Income Tax Portal by leaving it on Administration [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Rajasthan-High-Court-Income-Tax-Return-Income-Tax-Portal-Taxscan.jpeg "Rajasthan HC disposes of PIL pointing out difficulties faced by Assessees on account of Glitches in official Income Tax Portal by leaving it on Administration [Read Order]")
![Calcutta HC quashes Re-assessment Notices for Failure on part of Income Tax Dept to follow Statutory Formalities [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/01/calcutta-HC-Income-Tax-Taxscan.jpg "Calcutta HC quashes Re-assessment Notices for Failure on part of Income Tax Dept to follow Statutory Formalities [Read Judgment]")
![Provisions of Book Profit not applicable to Banking Companies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Provisions-Book-Profit-Banking-Companies-ITAT-Taxscan.jpg "Provisions of Book Profit not applicable to Banking Companies: ITAT [Read Order]")
CBDT notifies Assam Electricity Regulatory Commission eligible for Income Tax Exemption [Read Notification]
The Central Board of Direct Taxes (CBDT) notified the Assam Electricity Regulatory Commission eligible for Section 10(46) Income Tax Exemption. The Board empowered under clause (46) of section 10...
Gujarat HC issues Notice to Govt. on plea challenging Income Tax Provision treating Defaulter as well as genuine Taxpayer at par [Read Order]
The Gujarat High Court has issued the notice to the government on a plea challenging Income Tax Provision treating defaulter as well as a genuine taxpayer at par. The appellant, A S Construction...
![Gujarat HC issues Notice to Govt. on plea challenging Income Tax Provision treating Defaulter as well as genuine Taxpayer at par [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Gujarat-HC-notice-Govt.-plea-challenging-Income-Tax-defaulter-genuine-taxpayer-taxpayer-Taxscan.jpg "Gujarat HC issues Notice to Govt. on plea challenging Income Tax Provision treating Defaulter as well as genuine Taxpayer at par [Read Order]")
License Fee paid for Long Term Right to use Telecommunication Spectrum is Capital Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the license fee paid for the long term right to use telecommunication spectrum amount to capital expenditure under the Income Tax...
![License Fee paid for Long Term Right to use Telecommunication Spectrum is Capital Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/telecommunication-spectrum-ITAT-Taxscan.jpg "License Fee paid for Long Term Right to use Telecommunication Spectrum is Capital Expenditure: ITAT [Read Order]")
Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) while deleting the addition held that transactions in client ledger accounts are transactions entered in ordinary course of business. The...
![Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Transactions-Client-Ledger-Account-Ordinary-Course-of-Business-Business-ITAT-Deletes-Addition-Taxscan.jpeg "Transactions in Client Ledger Account are Transactions entered in Ordinary Course of Business: ITAT deletes Addition [Read Order]")
Revisionary Jurisdiction can be invoked in a very Gross case of inadequacy in Inquiry by Assessing Officer: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the revisionary jurisdiction under section 263 of the Income Tax Act, 1961 can be exercised in a very gross case of...
![Revisionary Jurisdiction can be invoked in a very Gross case of inadequacy in Inquiry by Assessing Officer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Revisionary-Jurisdication-Gross-case-Inadequacy-Inquiry-Assessing-Officer-ITAT-Taxscan.jpg "Revisionary Jurisdiction can be invoked in a very Gross case of inadequacy in Inquiry by Assessing Officer: ITAT [Read Order]")
UAE Company is an Independent Entity: Indian Company can’t be Taxed for Its’ Profit, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has ruled that a UAE Company is an independent entity and the profit earned by such a Company cannot be added in the hands of an Indian Company...
![UAE Company is an Independent Entity: Indian Company can’t be Taxed for Its’ Profit, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/UAE-Company-Indian-Company-ITAT.jpg "UAE Company is an Independent Entity: Indian Company can’t be Taxed for Its’ Profit, rules ITAT [Read Order]")
Charges can be altered even after reversing Judgement: Madras HC dismisses Plea challenging Alternation of Charges on person accused of Non-Payment of Income Tax Arrears [Read Order]
The Madras High Court while dismissing a plea challenging Alternation of charges on persons accused of non-payment of Income Tax arrears held that Charges can be altered even after reversing...
![Charges can be altered even after reversing Judgement: Madras HC dismisses Plea challenging Alternation of Charges on person accused of Non-Payment of Income Tax Arrears [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/Madras-High-Court-Income-Tax-Arrears-Taxscan.jpg "Charges can be altered even after reversing Judgement: Madras HC dismisses Plea challenging Alternation of Charges on person accused of Non-Payment of Income Tax Arrears [Read Order]")