Section 80 P under Income Tax Act,1961: Case Digest on Recent Decisions
Section 80P of the Income Tax Act, 1961, provides tax deductions to cooperative societies, allowing them to claim exemptions on their income. This...
![Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Toyota-ITAT-Separate-Benchmarking-Royalty-Margin-ALP-taxscan.jpg "Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]")
![ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Trust-CITE-income-tax-Taxscan.jpg "ITAT Gives Trust Another Opportunity, Remits Registration Application to CIT(E) [Read Order]")
![Income Tax Demand on Denial of Benefit u/s 80P: Kerala HC sets aside Recovery on Pendency of Appeal before ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Demand-Section-80-P-of-Income-Tax-Act-Income-Tax-Act-Kerala-High-Court-Taxscan-1.jpg "Income Tax Demand on Denial of Benefit u/s 80P: Kerala HC sets aside Recovery on Pendency of Appeal before ITAT [Read Order]")
![Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-New-Delhi-Income-Tax-Income-Tax-Act-Section-292-of-Income-Tax-Act-Section-292-of-ITA-Taxscan.png "Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]")
Assessee’s Foreign AE not used as Tested Party in Previous Years: Delhi HC dismisses Challenge to Transfer Pricing Addition [Read Order]
In a recent the Delhi High Court dismissed the challenge to the transfer pricing addition, citing that the assessee’s foreign associated enterprise had not been used as the tested party in previous...
AO made S.69 Income Tax Addition based on Mere Suspicion: ITAT deletes Rs.2.25 Crore Addition [Read Order]
Recently, the Income Tax Appellate Tribunal ( ITAT ) recently set aside an addition of Rs. 2.25 crore made by the Assessing Officer ( AO ) against one assessee/appellant, Tirupati Jewels, New Delhi,...
![AO made S.69 Income Tax Addition based on Mere Suspicion: ITAT deletes Rs.2.25 Crore Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Assessing-Officer-TAXSCAN.jpg "AO made S.69 Income Tax Addition based on Mere Suspicion: ITAT deletes Rs.2.25 Crore Addition [Read Order]")
S. 153C Applicable to Searches Prior to Finance Act, 2015 Also: Delhi HC remands Income Tax Matter [Read Order]
The Delhi High Court remanded the Income Tax Matter to the Appellate Tribunal stating that Section 153C of the Income Tax Act, 1961 is also applicable to Searches Prior to Finance Act, 2015. The...
![S. 153C Applicable to Searches Prior to Finance Act, 2015 Also: Delhi HC remands Income Tax Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Income-Tax-Finance-Act-Finance-Act-2015-Taxscan.jpg "S. 153C Applicable to Searches Prior to Finance Act, 2015 Also: Delhi HC remands Income Tax Matter [Read Order]")
Infosys & TCS Subsidiaries not ‘Comparables’ for ALP Determination in A.Y. 2010-11 for Cadence Design Systems: Delhi HC [Read Order]
The Delhi High Court in a recent Income Tax Appeal directed the exclusion of Tata Consultancy Services ( TCS ) E-Serve International Ltd., TCS E-Serve and Infosys BPO Limited from the list of...
Rent Income from Profit and Gains of Leasing Company Assessable as ‘Income from Profits and Gains of Business’: Bombay High Court [Read Order]
In a recent decision, the Bombay High Court maintained that Rent Income from the profit and gains of a leasing company derived through the lease of its owned properties can be assessed as ‘income...
![Rent Income from Profit and Gains of Leasing Company Assessable as ‘Income from Profits and Gains of Business’: Bombay High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Bombay-High-Court-Rent-income-taxation-Tax-on-leasing-company-earnings-Business-income-tax-taxscan.jpg "Rent Income from Profit and Gains of Leasing Company Assessable as ‘Income from Profits and Gains of Business’: Bombay High Court [Read Order]")
