![Income Limit u/s 149 IT Act not met: Rajasthan HC stays Time barred Re-assessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Income-Limit-IT-Act-Rajasthan-High-Court-Time-barred-Re-assessment-Re-assessment-Proceedings-Taxscan.jpg "Income Limit u/s 149 IT Act not met: Rajasthan HC stays Time barred Re-assessment Proceedings [Read Order]")
Income Limit u/s 149 IT Act not met: Rajasthan HC stays Time barred Re-assessment Proceedings [Read Order]
The Rajasthan High Court (HC) stayed the time barred reassessment proceedings. The bench of Justice Rajendra Prakash Soni and Justice Sanjay Mehta...
![Inability to Generate Income from Software Not a Ground to Deny Depreciation Claim: ITAT rules in favour of Rapipay [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Software-Depreciation-Claim-ITAT-Rapipay-TAXSCAN.jpg "Inability to Generate Income from Software Not a Ground to Deny Depreciation Claim: ITAT rules in favour of Rapipay [Read Order]")
![Bringing Evidence on What Basis Income has Escaped and Re-opening of Assessment is Required is Procedural Requirement to Invoke S. 147/148: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-Income-Re-opening-of-Assessment-Assessment-Procedural-Requirement-Requirement-ITAT-Taxscan-1.jpg "Bringing Evidence on What Basis Income has Escaped and Re-opening of Assessment is Required is Procedural Requirement to Invoke S. 147/148: ITAT [Read Order]")
![Addition has No Connection with Escaped Income: ITAT deletes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Escaped-Income-Income-ITAT-Re-Assessment-Income-Tax-Tax-taxscan.jpg "Addition has No Connection with Escaped Income: ITAT deletes Re-Assessment [Read Order]")
![Company cannot have “Salary Income”: ITAT deletes Addition by NFAC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Company-Salary-Income-Salary-Income-ITAT-NFAC-taxscan.jpg "Company cannot have “Salary Income”: ITAT deletes Addition by NFAC [Read Order]")
Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that disallowance under section 14A of the Income Tax Act,1961 does not apply to interest income earned from the negative capital...
![Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Disallowance-Interest-Income-Negative-Capital-Partnership-ITAT-TAXSCAN.jpg "Disallowance u/s 14A not applicable on Interest Income earned from Negative Capital of Partnership: ITAT [Read Order]")
Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]
In a significant case of Tata Industries, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that foreign dividend income which is chargeable to tax is outside the provision of 14...
![Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Foreign-Dividend-Income-Chargeable-to-Tax-ITAT-Tata-Industries-TAXSCAN.jpg "Foreign Dividend Income Which is Chargeable to Tax is outside the provision of 14 A: ITAT rules in favour of Tata Industries [Read Order]")
Relief to Tata Industries: ITAT allows set off of brought Forward Business Losses against Foreign Dividend Income [Read Order]
As a relief to Tata Industries, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) allowed the set offof brought forward business losses against foreign dividend income. The...
![Relief to Tata Industries: ITAT allows set off of brought Forward Business Losses against Foreign Dividend Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Tata-Industries-ITAT-Business-Losses-Foreign-Dividend-Income-TAXSCAN.jpg "Relief to Tata Industries: ITAT allows set off of brought Forward Business Losses against Foreign Dividend Income [Read Order]")
Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that payment received as Non compete fees are taxable under the head of income from the business & Profession section. ...
![Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Payment-Payment-received-Non-Compete-Fees-taxable-Income-Business-Profession-ITAT-Taxscan.jpg "Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]")
Penalty u/s 271AAA can be Imposed When Assessee accepted Undisclosed Income in section 132(4) statement: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that penalty under section 271AAA of the Income Tax Act can be imposed when the assessee accepted undisclosed income in the...
![Penalty u/s 271AAA can be Imposed When Assessee accepted Undisclosed Income in section 132(4) statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Penalty-Undisclosed-Income-statement-ITAT-TAXSCAN.jpg "Penalty u/s 271AAA can be Imposed When Assessee accepted Undisclosed Income in section 132(4) statement: ITAT [Read Order]")