Co-operative Society Entitled to Claim Deduction u/s 57 for Expenditure Incurred on Interest Income from Banks: ITAT Remits Income Tax Matter [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) remitted the matter back to the Assessing Officer (AO) to verify the actual...
![Cash Deposits of ₹1.31 Lakh During Demonetisation Treated as Unexplained Income: ITAT Deletes Addition, Accepts as Rent Received in Cash [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/250x150_2090100-itat-kolkata-unexplained-income-cash-deposits-taxscan.webp "Cash Deposits of ₹1.31 Lakh During Demonetisation Treated as Unexplained Income: ITAT Deletes Addition, Accepts as Rent Received in Cash [Read Order]")
![Quantum Of Expenditure Not Relevant for Purposes of S.12AB Registration: ITAT Holds Genuineness of Object, directs to Grant Registration [Read Order]](https://images.taxscan.in/h-upload/2025/07/09/250x150_2061940-quantum-of-expenditure-quantum-of-expenditure-not-relevant-taxscan.webp "Quantum Of Expenditure Not Relevant for Purposes of S.12AB Registration: ITAT Holds Genuineness of Object, directs to Grant Registration [Read Order]")
![Assessee Denied Chance to Present Case on TDS Credit for Client Funds, ITAT Rules for Fresh Hearing [Read Order]](https://images.taxscan.in/h-upload/2025/06/18/250x150_2050142-tds-credit-client-funds-itat-taxscan.webp "Assessee Denied Chance to Present Case on TDS Credit for Client Funds, ITAT Rules for Fresh Hearing [Read Order]")
ITAT Grants ₹203 Cr Tax Relief to Genpact India u/s 10AA for Interest Income, Forex Gains, and Export-Linked Expenses [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT) granted ₹203 crore tax relief to Genpact India under Section 10AA of the Income-tax Act,1961, holding that interest income, foreign exchange ...
![ITAT Grants ₹203 Cr Tax Relief to Genpact India u/s 10AA for Interest Income, Forex Gains, and Export-Linked Expenses [Read Order]](https://images.taxscan.in/h-upload/2025/06/16/500x300_2045455-itat-itat-grants-tax-relief-to-genpact-india-genpact-india-taxscan.webp "ITAT Grants ₹203 Cr Tax Relief to Genpact India u/s 10AA for Interest Income, Forex Gains, and Export-Linked Expenses [Read Order]")
![ITAT Allows Prior-Period Interest Deduction Citing No Revenue Loss [Read Order]](https://images.taxscan.in/h-upload/2025/06/14/500x300_2044235-interest-deduction-revenue-loss-itat.webp "ITAT Allows Prior-Period Interest Deduction Citing No Revenue Loss [Read Order]")
Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d): ITAT allows deduction of Rs. 35 lakhs [Read Order]
The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) held that the interest income that is derived from the cooperative banks is eligible for deduction under Section 80P(2) of the Income Tax...
![Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d): ITAT allows deduction of Rs. 35 lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Interest-Income-Deduction-Cooperative-Banks-taxscan.jpg "Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d): ITAT allows deduction of Rs. 35 lakhs [Read Order]")
CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 19/2025, dated March 11, 2025, under the Income Tax Act, 1961. This notification specifies the...
![CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/03/CBDT-Ten-Year-Zero-Coupon-Bond-Power-Finance-Corporation-Ltd-TAXSCAN.jpg "CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]")
ITAT Ahmedabad upholds Classification of Interest Income from Employee Loans as Business Income [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has delivered a noteworthy decision, affirming the classification of interest income from employee loans as "business income." In a...
![ITAT Ahmedabad upholds Classification of Interest Income from Employee Loans as Business Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Ahmedabad-Classification-of-Interest-Income-Interest-Income-Interest-Income-from-Employee-Loans-Employee-Loans-Employee-Loans-as-Business-Income-taxscan.jpg "ITAT Ahmedabad upholds Classification of Interest Income from Employee Loans as Business Income [Read Order]")
GST Demand on Non-Taxable Receipts: Madras HC Dismisses petition on Availability of statutory remedy [Read Order]
The High Court of Madras dismissed the writ petition challenging the Goods and Service Tax (GST) demand on non-taxable receipts, citing the availability of a statutory remedy.Ragem Motors,...
![GST Demand on Non-Taxable Receipts: Madras HC Dismisses petition on Availability of statutory remedy [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/GST-Demand-Non-Taxable-Receipts-Madras-HC-petition-Availability-statutory-remedy-taxscan.jpg "GST Demand on Non-Taxable Receipts: Madras HC Dismisses petition on Availability of statutory remedy [Read Order]")
![Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Eligibility-of-interest-income-interest-income-deduction-interest-income-for-deduction-deduction-Section-80P2ai-ITAT-ITAT-remits-matter-taxscan.jpg "Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]")