![Filing of Income Tax Return along with Tax Audit Report: ITAT deletes Penalty of Rs 1 Lakh [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Income-Tax-Return-Tax-Audit-Report-ITAT-Penalty-taxscan-1.jpg "Filing of Income Tax Return along with Tax Audit Report: ITAT deletes Penalty of Rs 1 Lakh [Read Order]")
Filing of Income Tax Return along with Tax Audit Report: ITAT deletes Penalty of Rs 1 Lakh [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai deleted penalty of Rupees one Lakh as there was proper filing of return of income along with tax...
![ITAT grants Credit of FTC u/s 90 on Proper Filing of Form 67 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-grants-Credit-FTC-TAXSCAN.jpg "ITAT grants Credit of FTC u/s 90 on Proper Filing of Form 67 [Read Order]")
![Relief to Dredging Corporation of India: ITAT rules Liquidated Damages not core Activity of Shipping and not part for Computation in Tonnage Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-rules-liquidated-damages-activity-shipping-part-tax-TAXSCAN.jpg "Relief to Dredging Corporation of India: ITAT rules Liquidated Damages not core Activity of Shipping and not part for Computation in Tonnage Tax [Read Order]")
![Relief to MUFG Bank: Delhi HC directs Income Tax Dept to pay Income Tax Refund Rs. 93.4 Crores with Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/MUFG-Bank-Delhi-HC-Income-Tax-pay-Income-Tax-Refund-TAXSCAN.jpg "Relief to MUFG Bank: Delhi HC directs Income Tax Dept to pay Income Tax Refund Rs. 93.4 Crores with Interest [Read Order]")
![Dairy activity is not Industry or Agriculture u/s 36(1)(viii) of Income Tax Act: Gujarat HC denies Claim of National Dairy Development Board [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Industry-Agriculture-Income-Tax-Act-Gujarat-HC-National-Dairy-Development-Board-TAXSCAN.jpg "Dairy activity is not Industry or Agriculture u/s 36(1)(viii) of Income Tax Act: Gujarat HC denies Claim of National Dairy Development Board [Read Order]")
![No Intimation from Counsel regarding Ex Parte order: ITAT Condones delay of 224 days [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/No-Intimation-Ex-Parte-order-ITAT-TAXSCAN.jpeg "No Intimation from Counsel regarding Ex Parte order: ITAT Condones delay of 224 days [Read Order]")
No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]
A Division Bench of the High Court of Delhi comprising Justice Manmohan and Justice Manmeet Pritam Singh Arora recently dismissed an appeal by the Income Tax Department, upholding the order of the...
![No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Incriminating-Materials-Delhi-HC-TAXSACN.jpg "No Additions can be made u/s 153A in the absence of Incriminating Materials unearthed during Search if the Assessment is Non-Abated: Delhi HC [Read Order]")
Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]
In a recent ruling in favour of the Income Tax Department, a Division Bench of the Delhi High Court has held that, dividends of investments held as stock-in-trade are not deductible from the business...
![Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Dividends-Business-Income-Delhi-HC-Appeal-PNB-Housing-Finance-Ltd-TAXSCAN.jpg "Dividends of Shares held as Stock-in-Trade not Deductible from Business Income: Delhi HC dismisses Appeal of PNB Housing Finance Ltd [Read Order]")
Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]
In a recent ruling in favour of the assessee-Amway India Enterprises, a Division Bench of the Delhi High Court comprising Justice Manmohan and Justice Manmeet Pritam Singh Arora held that, “the mere...
![Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ALP-Royalty-Payment-Delhi-HC-Income-Tax-Departments-TAXSCAN.jpg "Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]")
Booking Function does not amount to Substantial Business Activity: Delhi HC grants Relief to Travelport L P USA [Read Order]
In hearing an appeal by the Commissioner of Income Tax - International Taxation, a Division Bench of the Delhi High Court upheld the order or the Income Tax Appellate Tribunal(ITAT) and Commissioner...
![Booking Function does not amount to Substantial Business Activity: Delhi HC grants Relief to Travelport L P USA [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Booking-Function-Delhi-HC-Travelport-L-P-USA-TAXSCAN.jpg "Booking Function does not amount to Substantial Business Activity: Delhi HC grants Relief to Travelport L P USA [Read Order]")
Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench, while deciding a group of appeals filed by both the assessee and the revenue, held that interest income from staff loans and advances as...
![Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Interest-Income-Staff-Loans-Fixed-Deposits-Business-Income-ITAT-TAXSCAN.jpg "Interest Income from Staff Loans and Advances, Fixed Deposits and Advances to be Treated as Business Income: ITAT [Read Order]")
Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench presided by S.S.Godara, Judicial Member held that prima facie belief that there is the escape of income is sufficient proof to initiate...
![Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/income-reassessment-proceedings-ITAT-taxscan.jpeg "Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]")