Businesses Urge FinMin to Resolve GST ITC issues Citing Cashflow Problems and Investment Slowdown
Businesses across India have urged the Finance Ministry to urgently fix ongoing problems related to Input Tax Credit (ITC) under the Goods and...
![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]")
Income Tax Department cannot make Additions based on Statements Retracted during Search without Incriminating Material: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that the Income Tax Department cannot make additions to an assessee's income based solely on statements made during a...
![Income Tax Department cannot make Additions based on Statements Retracted during Search without Incriminating Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Addition-Incriminating-Material-found-during-Search-and-Seizure-Incriminating-Material-Search-and-Seizure-ITAT-taxscan.jpg "Income Tax Department cannot make Additions based on Statements Retracted during Search without Incriminating Material: ITAT [Read Order]")
Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14 A of the Income Tax Act, 1961 is not available in respect of investments not yielding tax-free...
![Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Income-tax-Tax-Free-Income-Tax-free-income-investments-TAXSCAN.jpg "Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]")
Disallowance u/s 14A can be made only in Respect of Investments that yielded Tax-Free Income: ITAT [Read Order]
In a recent case, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance under section 14A of the Income Tax Act, 1961 can be made only in respect of investments...
![Disallowance u/s 14A can be made only in Respect of Investments that yielded Tax-Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Disallowance-Investments-Tax-Free-Income-ITAT-Investments-that-Yielded-Tax-Free-Income-taxscan.jpg "Disallowance u/s 14A can be made only in Respect of Investments that yielded Tax-Free Income: ITAT [Read Order]")
CBDT exempts Chennai Metropolitan Water Supply and Sewerage Board from Income Tax u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT), vide notification no. S.O. 90(E) dated 8th January 2024 has notified the income tax exemption of Chennai Metropolitan Water Supply and Sewerage Board under...
![CBDT exempts Chennai Metropolitan Water Supply and Sewerage Board from Income Tax u/s 10(46) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/01/CBDT-Chennai-Metropolitan-Water-Supply-Sewerage-Board-Income-Tax-TAXSCAN.jpg "CBDT exempts Chennai Metropolitan Water Supply and Sewerage Board from Income Tax u/s 10(46) [Read Notification]")
Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance made under Section 14A of the Income Tax Act 1961 read with Section 8D(2)(ii) of the Income Tax Rules 1962. ...
![Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-Funds-Investments-Interest-Bearing-Funds-Not-Applied-for-the-Purpose-of-Making-Investments-ITAT-taxscan.jpg "Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]")