Income Tax Act
![Union Budget 2023: Major Changes in S. 10 of Income Tax Act for IT Exemptions [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/IT-Exemptions-Income-Tax-Act-Income-Tax-Union-Budget-2023-budget-2023-union-budget-2023-nirmala-sitharaman-budget-nirmala-sitharaman-union-budget-nirmala-sitharaman-taxscan.jpg "Union Budget 2023: Major Changes in S. 10 of Income Tax Act for IT Exemptions [Read Finance Bill]")
Union Budget 2023: Major Changes in S. 10 of Income Tax Act for IT Exemptions [Read Finance Bill]
Clause 5 of the Bill seeks to amend section 10 of the Income tax Act relating to incomes not included in total income. It is proposed to amend the...
![Budget 2023: Finance Bill Amends Income Tax Act to Insert Designation New Joint Commissioner (Appeals)to Dispose First Appeals [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Budget-2023-Finance-Bill-Amends-Income-Tax-Act-TAXSCAN.jpg "Budget 2023: Finance Bill Amends Income Tax Act to Insert Designation New Joint Commissioner (Appeals)to Dispose First Appeals [Read Finance Bill]")
![Union Budget 2023: Govt to Decriminalise section 276A of Income Tax Act [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Union-Budget-2023-Decriminalise-section-276A-of-Income-Tax-Act-TAXSCAN.jpg "Union Budget 2023: Govt to Decriminalise section 276A of Income Tax Act [Read Finance Bill]")
![Budget 2023: Major changes under Income Tax Act 1961 [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Act-1961-Income-Tax-Act-budget-2023-union-budget-2023-nirmala-sitharaman-budget-2023-india-union-budget-2023-live-taxscan.jpg "Budget 2023: Major changes under Income Tax Act 1961 [Read Finance Bill]")
Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]
The bench of Amit Shukla and Gagan Goyal of Mumbai Income Tax Appellate Tribunal ruled that Income from carriage of goods and for operating ships is taxable under section 44B of the Income Tax Act,...
![Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Carriage-of-Goods-Income-Income-from-Carriage-of-Goods-Operating-Ship-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]")
Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) recently held that section 54 of the Income Tax Act 1961 are benevolent provisions therefore, requires liberal interpretation and the assessee is entitled...
![Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Provisions-Income-Tax-Act-Income-Tax-Tax-Benevolent-Provisions-ITAT-taxscan.jpg "Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]")
![Income Tax Notice Served on Wife of Assessee is Valid: ITAT Penalty Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Notice-Wife-of-Assessee-ITAT-Penalty-Proceedings-taxscan.jpg "Income Tax Notice Served on Wife of Assessee is Valid: ITAT Penalty Proceedings [Read Order]")
Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]
Penalty imposed on the assessee was deleted by the Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) chaired by Anil Chaturvedi (Accountant member) and N.K. Chaudhry (Judicial Member). The...
![Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Notice-Penalty-Notice-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "Penalty Notice u/s 271(1)(c) of Income Tax Act Issued in a Stereotyped Manner Without Applying Mind Not Valid: ITAT [Read Order]")
Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) recently held that levy of 100% of tax sought to be evaded under section 271AAA of Income Tax Act is not typographical error. Section 271AAA Income Tax Act...
![Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Tax-Income-Tax-Act-Income-Tax-Typographical-Error-ITAT-taxscan-.jpg "Levy of 100% of Tax sought to be Evaded u/s 271AAA of Income Tax Act is Not “Typographical Error”: ITAT [Read Order]")
Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the gifts to business associates and expenditure should be considered as business promotion expenses and are deductible...
![Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Gifts-Business-Associates-Business-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan-1.jpg "Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
![Factoring Charges Allowable as Deduction under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Factoring-Charges-Deduction-Income-Tax-Act-ITAT-Inome-Tax-Taxscan.jpg "Factoring Charges Allowable as Deduction under Income Tax Act: ITAT [Read Order]")