![Delay of 6 Months: Kerala HC quashes Rectification Application by Income Tax Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/dfgdsDelay-Kerala-HC-quashes-Rectification-Application-by-Income-Tax-Department-TAXSCAN.jpg "Delay of 6 Months: Kerala HC quashes Rectification Application by Income Tax Department [Read Order]")
Delay of 6 Months: Kerala HC quashes Rectification Application by Income Tax Department [Read Order]
The Kerala High Court quashed a rectification application filed by the Income Tax Department with a delay of 6 months. The present writ petition...
![No real Rental Income received from litigation filed for recovery of arrears of Rent: ITAT deletes addition made on account notional Rental Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/real-Rental-Income-received-from-litigation-filed-Income-received-from-litigation-filed-real-Rental-Income-recovery-of-arrears-of-Rent-ITAT-deletes-addition-notional-Rental-Income-taxscan.jpg "No real Rental Income received from litigation filed for recovery of arrears of Rent: ITAT deletes addition made on account notional Rental Income [Read Order]")
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
![Income Tax Addition of 6 Crores on Income Derived From House Property Abutting Assessees Hotel: Delhi HC dismisses Appeal as matter Pending Before SC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Income-Derived-From-House-Property-Abutting-Assessees-Hotel-Delhi-HC-dismisses-Appeal-Pending-Before-SC-TAXSCAN.jpg "Income Tax Addition of 6 Crores on Income Derived From House Property Abutting Assessees Hotel: Delhi HC dismisses Appeal as matter Pending Before SC [Read Order]")
Conversion of loan amount into equity shares will not exonerate assessee from application of provisions U/S 56(2)(viib): ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that Conversion of loan amount into equity shares will not exonerate assessee from application of provisions under section 56(2)(viib)b...
![Conversion of loan amount into equity shares will not exonerate assessee from application of provisions U/S 56(2)(viib): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Conversion-of-loan-amount-equity-shares-exonerate-assessee-from-application-of-provisions-ITAT-taxscan.jpg "Conversion of loan amount into equity shares will not exonerate assessee from application of provisions U/S 56(2)(viib): ITAT [Read Order]")
Late Deposit to Employee’s PF due to National Holiday is allowable: Delhi HC rules in Favour of PepsiCo India [Read Order]
The Delhi High Court in the case of Pepsico India Holding Ltd has held that a late deposit to the employee’s Provident Fund (PF )due to a national holiday is allowable. The question was whether...
![Late Deposit to Employee’s PF due to National Holiday is allowable: Delhi HC rules in Favour of PepsiCo India [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Delhi-High-Court-Late-Deposit-Employee-National-Holiday-allowable-Favour-PepsiCo-India-taxscan.jpg "Late Deposit to Employee’s PF due to National Holiday is allowable: Delhi HC rules in Favour of PepsiCo India [Read Order]")
Relief to Universal Music India: Supreme Court dismisses SLP filed by Income Tax Department on Delay of 411 Days [Read Judgement]
The Supreme Court bench of Justice B.V. Nagarathna and Justice Ujjal Bhuyan have dismissed the Special Leave Petition (SLP) on delay of 411 days. The decision was a major setback to the Income Tax...
![Relief to Universal Music India: Supreme Court dismisses SLP filed by Income Tax Department on Delay of 411 Days [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-to-Universal-Music-India-Supreme-Court-SLP-filed-Income-Tax-Department-on-Delay-of-411-Days-taxscan-1.jpg "Relief to Universal Music India: Supreme Court dismisses SLP filed by Income Tax Department on Delay of 411 Days [Read Judgement]")
Income Tax Addition on Account of Unexplained Investment u/s 69B of Income Tax Act due to Failure of Assessee to Compile Data and Information Due Covid-19 Pandemic: ITAT Restores matter to AO
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that due to unprecendent situation of Covid-19 the assessee could not explain the facts of his case, hence there is absence of relevant...
Delayed Payment of TCS and GST is not "Penalty", Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that delayed payment of Tax collection at source (TCS) and Goods and Services Tax (GST) is not a penalty and shall be allowable as a...
![Delayed Payment of TCS and GST is not Penalty, Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Delayed-Payment-TCS-GST-Penalty-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Delayed Payment of TCS and GST is not Penalty, Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]")
ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that since the assessee has paid the interest to the unsecured loan creditors on opening balances the order of the Commissioner of Income...
![ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-Deletion-of-Disallowance-of-interest-on-unsecured-loans-Deletion-of-Disallowance-of-interest-interest-to-unsecured-loan-creditors-opening-balances-taxscan.jpg "ITAT directs Deletion of Disallowance of Interest on Unsecured Loans, as assessee paid Interest to Unsecured Loan Creditors on Opening Balances [Read Order]")
ITAT directs Readjudication in respect of deletion of Addition by CIT(A) made towards High Sea sales without giving proper Reasons [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Mumbai bench directed readjudication in respect of deletion of addition made towards the High Sea sales by the CIT(A) without giving proper reason. ...
![ITAT directs Readjudication in respect of deletion of Addition by CIT(A) made towards High Sea sales without giving proper Reasons [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-Readjudication-deletion-of-Addition-by-CITA-High-Sea-sales-ITAT-taxscan.jpg "ITAT directs Readjudication in respect of deletion of Addition by CIT(A) made towards High Sea sales without giving proper Reasons [Read Order]")