Income Tax Act
![CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/CBDT-Class-of-persons-Income-Tax-Act-Taxscan.jpg "CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]")
CBDT notifies Class of Persons for purposes of Section 56(2)(viib)(ii) of Income Tax Act [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 2274(E) on 24th May 2023 has notified the class or classes of persons, for the...
![Finance Ministry increases Tax Exemption Limit for Earned Leave Encashment u/s 10(10AA) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/Finance-Ministry-increases-Tax-Exemption-Limit-Earned-Leave-Encashment-us-1010AA-of-Income-Tax-Act-TAXSCAN.jpg "Finance Ministry increases Tax Exemption Limit for Earned Leave Encashment u/s 10(10AA) of Income Tax Act [Read Notification]")
![Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Rectification-Application-for-Exempted-Allowance-Claim-Exempted-Allowance-Claim-ITAT-upholds-Claim-Rejection-ITAT-Claim-Rejection-Income-Tax-Act-Income-Tax-Taxscan.jpg "Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]")
![Deduction u/s 80IC of IT Act shall not be denied if Assessee forms New Firm in same Name at same Premises: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Deduction-Assessee-New-Firm-Premises-ITAT-Assessee-forms-New-Firm-same-Name-at-same-Premises-taxscan.jpg "Deduction u/s 80IC of IT Act shall not be denied if Assessee forms New Firm in same Name at same Premises: ITAT [Read Order]")
![Time-barred Re-Assessment Proceedings: Delhi HC issues notice for Re-examination [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/TIME-B2-1.jpg "Time-barred Re-Assessment Proceedings: Delhi HC issues notice for Re-examination [Read Order]")
Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that educational institution is eligible for exemption under Section 10(23C)(iiiab) of the...
![Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Educational-Institution-is-Eligible-for-Exemption-Educational-Institution-Eligible-for-Exemption-Exemption-Income-Tax-Act-ITAT-Taxscan.jpg "Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]")
No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no penalty should be levied under Section 271(1)(b) of the Income Tax Act, 1961 for failure to sign a consent letter...
![No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-penalty-us-2711b-of-Income-Tax-Act-for-failure-to-sign-on-Consent-Letter-authorized-by-the-Government-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(b) of Income Tax Act for Failure to Sign on “Consent Letter” not Authorized by the Government: ITAT [Read Order]")
Section 245C (1) Application under Income Tax Act, not Maintainable in Absence of Case for Relevant AY: Delhi HC [Read Order]
The Delhi High Court ruled that Section 245C (1) application under the Income Tax Act is not maintainable in the absence of a case for the relevant Assessment years (AY). The petitioner, Bishan...
![Section 245C (1) Application under Income Tax Act, not Maintainable in Absence of Case for Relevant AY: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Application-under-Income-Tax-Act-not-Maintainable-in-Absence-of-Case-for-Relevant-AY-Delhi-High-Court-Taxscan.jpg "Section 245C (1) Application under Income Tax Act, not Maintainable in Absence of Case for Relevant AY: Delhi HC [Read Order]")
![CBDT notifies Income Tax Rule 133 to Calculate Net Winnings from Online Gaming [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/online-game.jpg "CBDT notifies Income Tax Rule 133 to Calculate Net Winnings from Online Gaming [Read Notification]")
Retaining Explanation to Section 245A of the Income Tax Act serves the purpose of explaining the scope of Section 245A, literal interpretation is sufficient: Delhi HC
In a recent judgment, the Delhi High Court ruled that the Retaining Explanation to Section 245A of the Income Tax Act serves the purpose of explaining the scope of Section 245A of the Income Tax Act...
Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Delhi bench has held that penalty under Section 271 D of the Income Tax Act, 1961 passed beyond 6 months from the end of the month in which the assessment...
![Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Income-Tax-Act-Income-Tax-Income-Tax-Act-Passed-Beyond-6-Months-is-Barred-by-Limitation-ITAT-taxscan.jpg "Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]")