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Income Tax Act

Statement Recorded u/s 133A Lacks Evidentiary Value in Absence of Summons u/s 131: ITAT [Read Order]

Saagarika Gopinath

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that the statement recorded under Section 133A of the Income Tax Act, 1961, lacked...

Technical Glitch No Ground for Rejection: ITAT Allows Charitable Trust to Refile Registration...

GST on Capital Goods: Know About ITC, Conditions, and Compliance Essentials

Granting Approval u/s 80G(5)(vi) of Income Tax Act merely relying on instrument creating the trust...

Interest Income from Business Investments by Co-operative Society Eligible for Deduction u/s...

Agreement for transfer of operations and movable assets not a ground to deny exemption u/s 11 and 12: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that an agreement for the transfer of operations and movable assets cannot be grounds to deny exemption under sections 11 and 12...

ITAT confirms Tax Exemptions for Gujarat Housing Board u/s. 11&12 of the Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT), confirmed tax exemptions for Gujarat Housing Board Under Sections 11 and 12 of the Income Tax Act,1961 and rejected the Revenue’s...

Received GST SCN under Section 16(4)? Here’s What to Do [Find Draft Format Here]

When addressing a Show Cause Notice (SCN) issued under Section 16(4) of the CGST Act, 2017, it is vital to craft a clear and legally sound response. Below are steps and considerations for drafting...

Deduction u/s 54F Allowable for Property Purchased in Wife's Name: ITAT Directs AO to Approve [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to approve the deduction under section 54F of the Income Tax Act for the property purchased in the wife’s...

ITAT condones 24-Day delay in filing Form 10B due to Technical Issues, Grants Exemption u/s 11 of Income Tax Act [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) condoned a 24-day delay in filing Form 10B due to technical issues and granted exemption under section 11 of Income Tax Act,1961. Kaydee...

Overview of Cash Transaction Provisions Under the Income Tax Act: Allowed vs. Disallowed

Cash transactions are common in everyday life, but under the Income Tax Act ,there are rules to control large cash dealings. These rules help reduce tax evasion and encourage more transparent...

Filing Form 10CCB is Not Mandatory If Submitted Before Assessment Concludes: ITAT Allows Deduction u/s 80IA for Wind Power Generation [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the filing of Form 10CCB, required for claiming deductions under Section 80IA of the Income Tax Act, is not mandatory if it is...

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