Central Government notifies India-Chile Double Taxation Avoidance Agreement (DTAA)Â [Read Notification]
The Central Government, on 3rd May, 2023 notified the Double Tax Avoidance Agreement (DTAA) and protocol for elimination of Double taxation and...
![No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Account-Unexplained-Closing-Cash-Closing-Cash-Account-of-Unexplained-Closing-Cash-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]")
![Income offered towards Excess Stock not Unexplained Investment u/s 69B, No Income Tax levy u/s 115BBE : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Excess-Stock-Unexplained-Investment-us-69B-Income-Tax-levy-us-115BBE-ITAT-TAXSCAN1.jpg "Income offered towards Excess Stock not Unexplained Investment u/s 69B, No Income Tax levy u/s 115BBE : ITAT [Read Order]")
![Income Tax Dept allows only 13 hours to file Reply to Show Cause Notice: Madras HC directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Dept-Show-Cause-Notice-Madras-HC-Re-adjudication-TAXSCAN.jpg "Income Tax Dept allows only 13 hours to file Reply to Show Cause Notice: Madras HC directs Re-adjudication [Read Order]")
Loss incurred for Expenditure for an Offence not Deductible: SC upholds Disallowance of Smuggled Silver as Business Loss[Read Judgement]
The Supreme Court of India in a recent judgement held that loss incurred for expenditure for an offence is not deductible tax and upheld the disallowance of smuggled silver as business loss. The...
Madras HC allows Wound Up Company to Settle Dues against Income Tax Dept. in 11 Installments [Read Order]
In a recent ruling, the Madras High Court bench of Justice P T Asha stated that the petitioner company must be permitted to show their bona fides and settle the dues. With this intent and in the...
![Madras HC allows Wound Up Company to Settle Dues against Income Tax Dept. in 11 Installments [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Madras-High-Court-Wound-Up-Company-Dues-Income-Tax-Dept-Installments-Taxscan.jpg "Madras HC allows Wound Up Company to Settle Dues against Income Tax Dept. in 11 Installments [Read Order]")
Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has quashed an ex-parte order and directed re-adjudication as the assessee did not get an opportunity to represent his case due to non-receipt of...
![Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Non-Receipt-of-Notices-Income-Tax-Portal-ITAT-Ex-Parte-Order-Re-Adjudication-TAXSCAN.jpg "Non-Receipt of Notices Uploaded on Income Tax Portal: ITAT Quashes Ex-Parte Order, directs Re-Adjudication [Read Order]")
Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has directed the income tax department to compute income tax on the rental income on the basis of municipal ratable value for computing the...
![Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Builder-Income-Tax-Rental-Income-Notional-Basis-Municipal-Ratable-Value-Unsold-Flats-ITAT-Taxscan.jpg "Builder Liable to Pay Income Tax on Rental Income on Notional Basis of Municipal Ratable Value on Vacant Unsold Flats: ITAT [Read Order]")
![Death of Assessee shall not abate Income Tax Appellate Proceedings as per Rule 26:ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Ahmedabad-Assessee-Income-Tax-taxscan.jpg "Death of Assessee shall not abate Income Tax Appellate Proceedings as per Rule 26:ITAT [Read Order]")