![S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Union-Bank-Non-Company-Status-taxscan.jpg "S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]")
S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]
The Mumbai Special Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that Section 115JB of the Income Tax Act, 1961 did not apply to Union Bank...
![Depreciation on Goodwill Acquired from Subsidiary Company by Demerger Allowed if Not Previously Claimed or Allowed u/s 32 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-mumbai-section-32-of-income-tax-act-goodwill-aquired-from-subsidiary-company-taxscan.jpg "Depreciation on Goodwill Acquired from Subsidiary Company by Demerger Allowed if Not Previously Claimed or Allowed u/s 32 of Income Tax Act: ITAT [Read Order]")
![Transferees Eligible to Claim TDS Credit Even if Certificates are in Name of Amalgamated/Demerged Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Tax-Deducted-at-Source-Section-40aia-of-the-Income-Tax-Act-ITAT-Income-Tax-Appellate-Tribunal-taxscan.jpg "Transferees Eligible to Claim TDS Credit Even if Certificates are in Name of Amalgamated/Demerged Company: ITAT [Read Order]")
![No disallowance of interest expense claimed in respect of ST RRB Credit Refinance Fund of NABARD: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/No-disallowance-interest-expense-respect-ST-RRB-Credit-Refinance-Fund-NABARD-ITAT-taxscan.jpg "No disallowance of interest expense claimed in respect of ST RRB Credit Refinance Fund of NABARD: ITAT [Read Order]")
![Relief to NABARD: ITAT allows Interest Expenditure incurred from Government set up fund of RIDF and STCRCF allowable as deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Mumbai-NABARD-Government-funds-deduction-NABARD-Interest-expenditure-taxscan.jpg "Relief to NABARD: ITAT allows Interest Expenditure incurred from Government set up fund of RIDF and STCRCF allowable as deduction [Read Order]")
Deduction u/s 36(1)(xii) of Income Tax Act can only claim with respect to expenditure incurred on Promotional Activities “notified entities”: ITAT directs re adjudication [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) after observing the deduction under Section 36(1)(xii) of Income Tax Act, 1961 can only claim with respect to expenditure incurred on...
![Deduction u/s 36(1)(xii) of Income Tax Act can only claim with respect to expenditure incurred on Promotional Activities “notified entities”: ITAT directs re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/TAT-Mumbai-Income-tax-Income-tax-news-Promotional-activities-expenditure-Notified-entities-TAXSCAN.jpg "Deduction u/s 36(1)(xii) of Income Tax Act can only claim with respect to expenditure incurred on Promotional Activities “notified entities”: ITAT directs re adjudication [Read Order]")
ITAT directs readjudication regarding Prior Period Expenses after find out year of Crystallization [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) directed readjudication regarding the prior period expenses after finding out the year of crystallization. The Assessee National Bank for...
![ITAT directs readjudication regarding Prior Period Expenses after find out year of Crystallization [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Mumbai-Income-Tax-Income-tax-news-Prior-period-expenses-taxscan.jpg "ITAT directs readjudication regarding Prior Period Expenses after find out year of Crystallization [Read Order]")
ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance of expenditure incurred out of interest income pertaining to various funds held by the National Bank for Agriculture...
![ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-news-NABARD-Indian-government-Disallowance-of-expenditure-TAXSCAN.jpg "ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]")
No specific exemption granted to the properties vesting Union of India from payment of Property Taxes; Bombay HC [Read Judgment]
The Bombay High Court division bench comprising of Justices A.S.Okay and C V Bhadang has held that No specific exemption granted in respect of the properties vesting in the Union of India from payment...
