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Set back to Bajaj Auto: ITAT allows Deduction u/s 80 IA of Income Tax Act after deducting Depreciation from Profits of eligible undertakings [Read Order]

Aiswarya Krishnadas

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) delivered a setback to Bajaj Auto by allowing the deduction under Section 80 IA of the...

ITAT allows Deduction u/S 80G of Income Tax Act on CSR expenses [Read Order]

Failure to file Form no. 10CCB along with Return of Income: ITAT upholds disallowance of deduction...

Assessment completed routine and mechanical manner without due diligence and due application of...

No addition shall be made u/s 68 of Income tax act on basis of statement of third party with respect...

TDS u/S 194 C of Income tax act is applicable on CAM charges: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Tax Deducted at Source ( TDS ) under Section 194 C of Income Tax 1961 was applicable on Common Area Maintenance ( CAM )...

Failure to produce documentary evidence for establish genuineness of Hotel Business Income: ITAT upholds addition u/s 68 of IT Act [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench, while upholding the addition made under section 68 of the Income Tax Act, 1961, observed that the assessee failed to produce documentary...

ITAT directs readjudication on interest in respect of loans which have become Non-Performing Assets [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bangalore bench directed readjudication on interest in respect of loans which have become Non Performing Assets. The assessee, Belur Urban Co-operative...

Relief to ICC: ITAT grants Income Tax Exemption on Receipts from Seminars and Conferences [Read Order]

In a major relief to the Indian Chamber of Commerce ( ICC ), the Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) granted income tax exemption on receipts from seminars and conferences. ...

Assessment order passed u/s 143(3) of Income Tax Act: ITAT remands matter to provide fair opportunity of hearing [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has remanded the matter concerning the assessment order passed under section 143(3) of the Income Tax Act to ensure a fair opportunity...

Mistakes from Typographical Error not leading to Tax Evasion is not unexplained Cash Credit: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal observed that Mistakes from typographical error not leading to tax evasion is not unexplained cash credit. The assesse, having filed his...

Supreme court upholds ITAT’s power in having a final say on reopening of investigation proceedings against assessee [Read Order]

The Supreme Court set aside assesse’s demand for re opening of assessment proceedings against her. The three member bench of the Supreme court pointed out that the tribunal itself had appropriate...

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