Paying Home Loan Interest? Here's How You Can Save on Income Tax
Fоr mаny Indiаns, оwning а hоme is а сherished dreаm, оften reаlised thrоugh hоme loаns. Whilе thе mоnthly ЕMIs might sееm burdеnsomе, thеy comе with...
![Section 220(2) of Income Tax Act has no Retrospective Effect, No liability to pay Interest on Tax Crystallised: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Section-Income-Tax-Act-Retrospective-Effect-liability-pay-Interest-Tax-Crystallised-Kerala-HC-TAXSCAN.jpg "Section 220(2) of Income Tax Act has no Retrospective Effect, No liability to pay Interest on Tax Crystallised: Kerala HC [Read Order]")
![Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Third-Party-Statements-used-against-assessee-until-and-unless-the-opportunity-of-cross-examination-is-afforded-TATIT-Act-towards-receipt-of-interest-free-unsecured-loan-TAXSCAN.jpg "Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]")
![Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Interest-Income-Qualified-for-Deduction-Interest-Payment-ITAT-taxscan.jpg "Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]")
![No Tax on Interest Accrued on FD subjected to CBI’s Prohibitory Order: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Tax-Interest-Accrued-FD-subjected-CBIs-Prohibitory-Order-ITAT-taxscan.jpg "No Tax on Interest Accrued on FD subjected to CBI’s Prohibitory Order: ITAT [Read Order]")
Partner should be entitled to all deductions while computing his share of profit for the salary received being considered as income from business: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the partner should be entitled to all the deductions which he was entitled while computing his share of profits in the firm. ...
![Partner should be entitled to all deductions while computing his share of profit for the salary received being considered as income from business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Partner-should-entitled-deductions-computing-profit-salary-being-considered-income-business-ITAT-TAXSCAN.jpg "Partner should be entitled to all deductions while computing his share of profit for the salary received being considered as income from business: ITAT [Read Order]")
Section 13(2)(a) doesn't Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to Laxmi Narayan mandir trust held that Section 13(2)(a) of the Income Tax Act, 1961 doesn’t authorize the revenue...
![Section 13(2)(a) doesnt Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Compute-Notional-Interest-Interest-is-charged-by-Trust-ITAT-Notional-Interest-Interest-Laxminarayan-Mandir-Trust-taxscan.jpg "Section 13(2)(a) doesnt Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]")
![CBDT Grants Income Tax Exemption to Dental Council of India u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/10/CBDT-Income-Tax-Exemption-Dental-Council-of-India-TAXSCAN.jpg "CBDT Grants Income Tax Exemption to Dental Council of India u/s 10(46) [Read Notification]")
No Issuance of SCN u/s 73(3) of Finance Act when There is No Evidence of willful Short Payment of Service Tax : CESTAT [Read Order]
The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that issuance of show cause notice was not allowed under section 73(3) of the Finance Act,1994 when there...
![No Issuance of SCN u/s 73(3) of Finance Act when There is No Evidence of willful Short Payment of Service Tax : CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Issuance-SCN-Finance-Act-Evidence-willful-Short-Payment-of-Service-Tax-CESTAT-TAXSCAN.jpg "No Issuance of SCN u/s 73(3) of Finance Act when There is No Evidence of willful Short Payment of Service Tax : CESTAT [Read Order]")
Disallowance of Interest u/s 36(1)(iii) Not attributable to Borrowed Amount utilized for Purchase of Immovable Property: ITAT restored issue to file of AO [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance of interest under Section 36(1)(iii) is not attributable to the borrowed amount utilized for the purchase of...
![Disallowance of Interest u/s 36(1)(iii) Not attributable to Borrowed Amount utilized for Purchase of Immovable Property: ITAT restored issue to file of AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Interest-attributable-Borrowed-Amount-utilized-Purchase-Immovable-Property-ITAT-AO-TAXSCAN.jpg "Disallowance of Interest u/s 36(1)(iii) Not attributable to Borrowed Amount utilized for Purchase of Immovable Property: ITAT restored issue to file of AO [Read Order]")
![Excise Duty Demand on Steel is not Maintainable: CESTAT Rejects Refund Claim of SAIL [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excise-Duty-Demand-Steel-is-not-Maintainable-CESTAT-Rejects-Refund-Claim-of-SAIL-TAXSCAN.jpg "Excise Duty Demand on Steel is not Maintainable: CESTAT Rejects Refund Claim of SAIL [Read Order]")