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ITAT quashes Assessment Order on Non-Service of Notice to relevant Address of Assessee [Read Order]

The Income Tax Appellate Tribunal (ITAT), Amritsar Bench quashed the assessment order on non-service of notice to the relevant address of the...

Donations and Investments made for Charity and Educational Purposes are Deductible: ITAT deletes...

Agricultural Land acquired under Compulsory Acquisition is Exempt Income u/s 10(37): ITAT [Read...

Voluntarily Disallowance of CSR Expenditure u/s 37(1) by Assessee: ITAT deletes Income Tax Addition...

Long Term Capital Gain from Sale of Equity Shares: ITAT denies Claim of Exemption u/s 10(38) [Read...

Late Fees u/s 234E cannot be levied for period prior to 1.6.2015 for quarterly TDS Returns: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that late fees under Section 234E of the Income Tax Act, 1961 cannot be levied for period prior to 1.6.2015 for quarterly TDS returns. ...

An Amount Paid Based on a Percentage of Turnover or Profit is Revenue in Nature: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that an amount paid based on a percentage of turnover or profit, is revenue in nature. The...

Commission Income would not come under the Presumptive Taxation, not taxable: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Commission Income would not come under the presumptive taxation and is not taxable, liable to exclude from gross...

ITAT deletes Penalty Imposed for accepting Cash Payment for Sale of Land: No Sufficient Reasons to show Tax Evasion Attempt [Read Order]

The Banglore Bench of the Income Tax Appellate Tribunal (ITAT), recently deleted the penalty imposed under Section 271D of the Income Tax Act, 1961 as the revenue could not show sufficient reasons to...

Payment for Grit Purchases and Carriage made through Cash excess can be allowable u/s 40A(3) based on the Nature of Business: ITAT [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT)has held that payment for Grit purchases and carriage made through cash excess can be allowable u/s 40A(3) of the Income Tax Act,1961 based...

Non-Submission of Proof of TDS deducted while Claiming Freight and Carriage Charges: ITAT upholds Disallowance [Read Order]

The Income Tax Appellate Tribunal (ITAT), has recently, in an appeal filed before it, upheld disallowance on account of non- submission of proof of TDS deducted while claiming freight and carriage...

No Opportunity of Cross Examination given: ITAT quashes Assessment Order [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench quashed the assessment order as no opportunity was given to the assessee for cross examination. The assessee, Paramjit Singh Seehra is an...

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