![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]")
Relief to MUFG Bank: Delhi HC directs Income Tax Dept to pay Income Tax Refund Rs. 93.4 Crores with Interest [Read Order]
In a major relief to MUFG Bank, a division bench of the Delhi High Court has directed the income tax department to process the refund of Rs....
![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]](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]](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]")
PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal has held that Principal Commissioner of Income Tax (PCIT) fails to mention as to how assessment order was erroneous and prejudicial to interest of...
![PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/PCIT-Assessment-Order-Interest-Revenue-ITAT-taxcan.jpeg "PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]")
Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Shri Chandra Mohan Garg, judicial member & Shri Anadee Nath Misshra, accountant member has held cessation of liability u/s41(1) not charged...
![Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/liability-outstanding-liabilities-books-of-account-ITAT-taxscan.jpeg "Cessation of liability u/s 41(1) not charged, even absence of write-off of outstanding liabilities in Books of Account: ITAT [Read Order]")
Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]
Conditions for revision under Section 263 are not fulfilled hence Income Tax Appellate Tribunal (ITAT), Ahmedabad set asides order as there is no prejudice to interest of revenue. The assessee,...
![Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Revision-ITAT-Order-interest-revenue-taxscan.jpg "Revision u/s 263 not fulfilled Conditions: ITAT sets aside Order as there is No Prejudice to Interest of Revenue [Read Order]")