![Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Co-operative-Society-Annual-Information-Report-Income-Tax-Rules-penalty-ITAT-Income-Tax-Rules-taxscan.jpg "Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]")
Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) has recently held that co-operative societies should be liable to furnish Annual...
![Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Oil-Wells-Eligible-Depreciation-as-Plant-and-Machinery-ITAT-TAXSCAN.jpg "Oil Wells Eligible for Depreciation as Plant and Machinery: ITAT [Read Order]")
![ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-directs-to-Delete-Disallowance-Expenditure-incurred-towards-Exempt-Income-based-on-Book-Profits-ITAT-TAXSCAN.jpg "ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]")
![Central Govt Amends Rule 11UAC of Income Tax Rules [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/06/Central-Govt-Amends-Rule-11UAC-of-Income-Tax-Rules-TAXSCAN.jpg "Central Govt Amends Rule 11UAC of Income Tax Rules [Read Notification]")
![Central Govt Amends Rule 11AA of Income Tax Rules [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/Central-Govt-Amends-Central-Govt-Income-Tax-Rules-Income-tax-taxscan.jpg "Central Govt Amends Rule 11AA of Income Tax Rules [Read Notification]")
No Real Time Alert Sent for Notice u/s 148A(b) of I-T Act received on Same Date as Order Passed by Income Tax Dept: Delhi HC directs Readjudication
In a recent ruling, the Delhi High Court directed the Assessing Officer to re-adjudicate the matter as they failed to send the notice under Section 148A(b) of Income Tax Act, 1961. The Bench...
![CBDT notifies Income Tax Rule 133 to Calculate Net Winnings from Online Gaming [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/05/online-game.jpg "CBDT notifies Income Tax Rule 133 to Calculate Net Winnings from Online Gaming [Read Notification]")
Determination of Fair Market Value of Unquoted Shares does not Prohibit Inclusion of Share Premium as part of Reserves and Surplus: ITAT deletes Addition
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding that the determination of fair market value of unquoted shares would not prohibit inclusion of share premium...
Assessee's Bonafide Belief on TDS Exemption for Foreign Travel LTC Protects from Default u/s. 201(1) and 201(1A) of the Income Tax Act, Rules ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently provided opportunity of re-adjudication on TDS exemption for foreign travel Leave Travel Concession (LTC) default under Sections...
![Vehicles form part of Plant and Machinery: ITAT allows Depreciation on Hired Cars [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Vehicles-Plant-and-Machinery-ITAT-Depreciation-Hired-Cars-Taxscan.jpg "Vehicles form part of Plant and Machinery: ITAT allows Depreciation on Hired Cars [Read Order]")
![Lack of Identical Income Tax Rule not ground for Denial of Legitimate TCS Claim: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Tax-Rule-TCS-Claim-ITAT-TAXSCAN.jpg "Lack of Identical Income Tax Rule not ground for Denial of Legitimate TCS Claim: ITAT [Read Order]")
True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]
The Bombay High Court quashed re assessment notice as there was true and full disclosure regarding valuation of equity shares. The Petitioner, The Suminter Organic and FairTrade Cottton Ginning...
![True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Valuation-of-Equity-Shares-Equity-Shares-Shares-Bombay-High-Court-Re-Assessment-Notice-Re-Assessment-Notice-taxscan.jpg "True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]")