Income Tax Act
![Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Waiver-Cash-Loan-Holding-Company-Taxable-Business-Income-Income-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]")
Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the waiver of cash loan by a holding company vide Agreement is not taxable as...
![Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Bank-Term-Loan-Net-Interest-Income-Tax-Act-ITAT-TAXSCAN.jpg "Partner Lending Loan to Firm out of Bank Term Loan Eligible for Deduction of Net Interest Income u/s 57 of Income Tax Act: ITAT [Read Order]")
![Accumulated Profits to be arrived after allowing Depreciation as per Income Tax Act and not Companies Act: ITAT deletes Addition[Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Accumulated-Profits-Depreciation-Income-Tax-Act-Companies-Act-ITAT-TAXSCAN.jpg "Accumulated Profits to be arrived after allowing Depreciation as per Income Tax Act and not Companies Act: ITAT deletes Addition[Read Order]")
Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that agricultural land did not fall under the head of capital asset under Section 2(14) of the Income Tax Act,...
![Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]")
![Mere belated TDS Remittance wont attract Penalty u/s 271C of Income Tax Act: SCÂ [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/04/TDS-Penalty-u-s-271C-Income-Tax-Act-SC-TAXSCAN.jpg "Mere belated TDS Remittance wont attract Penalty u/s 271C of Income Tax Act: SCÂ [Read Judgement]")
Race Promotion Fee paid to Formula One World Championship shall not be Disallowed u/s 40(i) of Income Tax Act: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that race promotion fee paid to formula one world championship should not be disallowed under Section 40(i) of the Income Tax Act,...
![Race Promotion Fee paid to Formula One World Championship shall not be Disallowed u/s 40(i) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Race-Promotion-World-Championship-Disallowed-Income-Tax-Act-ITAT-TAXSCAN.jpg "Race Promotion Fee paid to Formula One World Championship shall not be Disallowed u/s 40(i) of Income Tax Act: ITAT [Read Order]")
ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has recently in an appeal filed before it, allowed deduction of expenditure by Flipkart India towards ESOP u/s 37 of income tax act. The...
![ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Flipkart-India-ESOP-Income-Tax-Act-TAXSCAN.jpg "ITAT Allows Deduction of Expenditure by Flipkart India towards ESOP u/s 37 of Income Tax Act [Read Order]")
Final Assessment Order Issued Beyond Period of Limitation u/s 144C of Income Tax Act is Null and Void: ITAT grants Relief to Fiber Home India [Read Order]
Recently, the Delhi Income Tax Appellate Tribunal (ITAT) while granting relief to Fiber Home India held that the final assessment order issued beyond of limitation under Section 144C of the Income...
![Final Assessment Order Issued Beyond Period of Limitation u/s 144C of Income Tax Act is Null and Void: ITAT grants Relief to Fiber Home India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Assessment-Order-Assessment-Income-Tax-Act-Income-Tax-ITAT-Fiber-home-India-Taxscan.jpg "Final Assessment Order Issued Beyond Period of Limitation u/s 144C of Income Tax Act is Null and Void: ITAT grants Relief to Fiber Home India [Read Order]")
Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-inclusion of surrendered income book profits under Section 115JB of the Income Tax Act 1961 is not rectifiable...
![Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Surrendered-Income-Income-Book-Profits-Profits-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]")