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ITAT Cochin

Interest on Delayed Payment of VAT and TDS is Compensatory in Nature: ITAT allows Deduction [Read Order]

Taxscan Team

The Cochin bench of Income Tax Appellate Tribunal (ITAT) restored the decision of CIT(A) and held that interest on delayed payment of VAT and TDS is...

Payments to Sub-Agents does not attract TDS u/s 194G: ITAT [Read Order]

Revisionary Jurisdiction can’t be invoked against a Draft Assessment Order: ITAT [Read Order]

ITAT confirms Addition against George Muthoot [Read Order]

Expenditure on Interest-bearing Loans acquired for making Investment in Agricultural Land not...

Mere Confirmation Letter from Partners not sufficient to prove Genuineness of Cash Credits: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that mere production of the confirmation letter by the partners of the Firm is not sufficient to prove the genuineness of cash credits...

Sale of a running Hotel is ` Slump Sale ’: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the sale of hotel premises would amount to a slump sale which is liable to the taxed under Section 50B of the Income Tax Act. ...

Compensation Received for Discontinuing Commodity Trading Business is Taxable: ITAT [Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the compensation received for discontinuing commodity trading business is taxable as a non-competent fee under Section 28(va)...

Income of Beneficiaries not Taxable in the hands of Trust : ITAT [Read Order]

In M/s. Abad Trust vs. Asst. Director of Income Tax (Exemption), the Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) held that tax cannot be assessed at the hands of the Assessee-Trust and that...

Sec 80P Deduction available to Bank for Investments with Sub-Treasuries during its Business / Providing Credit Facilities to its Members: ITAT [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of Income Tax Officer v. M/s. Perinthalmanna Service Co-operative Bank Ltd. holding in favor of the assessee adjudged that the...

ITAT confirms Assessment against District Judges as there is No Provision in IT Rules Exempting Medical, Conveyance and Sumptuary Allowances [Read Order]

The Cochin bench of Income Tax Appellate Tribunal ( ITAT ) confirmed the assessment order passed by the Commissioner of Income Tax by holding that there is no provision in Income Tax rules exempting...

Section 54F Benefit can avail only in respect of a Single Residential House: ITAT [Read Order]

In The Asst. Commissioner of Income Tax vs. N.S. Viswanathan, the Cochin Bench of the Income Tax Appellate Tribunal (ITAT) held that exemption under section 54F of the Income Tax Act, 1961 prior to...

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