![Section 271B Penalty not Applicable when Reasonable Cause for Failure to Comply with Provision is Explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Section-271B-Penalty-not-Applicable-Reasonable-Cause-Failure-to-Comply-Provision-is-Explained-ITAT-TAXSCAN.jpg "Section 271B Penalty not Applicable when Reasonable Cause for Failure to Comply with Provision is Explained: ITAT [Read Order]")
Section 271B Penalty not Applicable when Reasonable Cause for Failure to Comply with Provision is Explained: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271B of the Income Tax Act 1961 would not be...
![Non-eligibility of Deduction u/s 54F of IT Act on Ground of Co-ownership more than one Residential Property: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Non-eligibility-of-deduction-IT-Act-on-ground-of-co-ownership-more-than-one-residential-property-ITAT-directs-re-adjudication-TAXSCAN.jpg "Non-eligibility of Deduction u/s 54F of IT Act on Ground of Co-ownership more than one Residential Property: ITAT directs Re-adjudication [Read Order]")
![Delay in Filing Appeal Due to Mistake on part of Officials: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/re-adjudication-ITAT-Delay-in-filing-appeal-mistake-on-part-of-officials-TAXSCAN.jpg "Delay in Filing Appeal Due to Mistake on part of Officials: ITAT directs Re-adjudication [Read Order]")
![ITAT upholds Revision Order due to Non-Compliance with ALP Determination Requirement [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-upholds-Revision-Order-ALP-Determination-Requirement-Revision-Order-ITAT-Income-Tax-taxscan.jpg "ITAT upholds Revision Order due to Non-Compliance with ALP Determination Requirement [Read Order]")
![MSBTE is ‘state’ under Article 12 and exempted from Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/MSBTE-state-Article-12-and-exempted-from-Income-Tax-ITAT-TAXSCAN.jpg "MSBTE is ‘state’ under Article 12 and exempted from Income Tax: ITAT [Read Order]")
Rejection of Registration of Trust for Non-Compliance of Notices and Non-Registration u/s. 12AB without Adhering to Principles of Natural Justice: ITAT directs Re-Adjudication
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has directed re-adjudication on finding the rejection of registration of a trust for non-compliance of notice and non-registration under...
Charges received for Carrying out of Re-fabrication of Bushings Not Taxable under Indo-Singapore Treaty: ITAT Allows TDS Credit to Owens Corning
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the Tax Deducted at Source (TDS) credit to Owens Corning holding that the charges received for carrying out re-fabrication of...
![Assessment Order Not Complying with Procedure u/s 144B is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Assessment-Order-Invalid-ITAT-TAXSCAN.jpg "Assessment Order Not Complying with Procedure u/s 144B is Invalid: ITAT [Read Order]")
‘Market to Market Loss’ in Forex Business is Not Notional Loss, Allowable as Expenditure: ITAT [Read Order]
The Mumbai Income Tax Appellate Tribunal (ITAT) recently held that market to market loss in forex business has no notional loss which was allowable as expenditure. Assesse JBF Industries Ltd...
![‘Market to Market Loss’ in Forex Business is Not Notional Loss, Allowable as Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Market-to-Market-Loss-Forex-Business-Notional-Loss-Expenditure-ITAT-TAXSCAN.jpg "‘Market to Market Loss’ in Forex Business is Not Notional Loss, Allowable as Expenditure: ITAT [Read Order]")
Relief to Linklaters LLP: Remuneration received by Law Firm for Providing Legal Services Not Taxable as “FTS” as per Indo-UK Treaty, rules ITAT [Read Order]
The Mumbai Income Tax Appellate Tribunal ( ITAT ) while providing relief to Linklaters LLP ruled that remuneration received by a law firm for providing legal services is not taxable as Fee for...
![Relief to Linklaters LLP: Remuneration received by Law Firm for Providing Legal Services Not Taxable as “FTS” as per Indo-UK Treaty, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Linklaters-LLP-Remuneration-Law-Firm-Legal-Services-Law-Firm-for-Providing-Legal-Services-FTS-Indo-UK-Treaty-ITAT-Taxscan.jpg "Relief to Linklaters LLP: Remuneration received by Law Firm for Providing Legal Services Not Taxable as “FTS” as per Indo-UK Treaty, rules ITAT [Read Order]")
Lease Rental Income earned from Associated Enterprises Not “Royalty” as per Indo-US DTAA: ITAT [Read Order]
The Mumbai Income Tax Appellate Tribunal ITAT has recently held that lease rental income earned from associated enterprises has no royalty as per Indo-US Direct Tax Avoidance Agreement (DTAA). ...
![Lease Rental Income earned from Associated Enterprises Not “Royalty” as per Indo-US DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Rental-Income-Associated-Enterprises-Royalty-Indo-US-DTAA-ITAT-TAXSCAN.jpg "Lease Rental Income earned from Associated Enterprises Not “Royalty” as per Indo-US DTAA: ITAT [Read Order]")
Amount of Provision for Bad and Doubtful Debts Reduced from Sundry Debtors Balance won't be hit by Clause (i) of Explanation to Sec 115JB: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the amount of provision for bad and doubtful debts reduced from Sundry Debtors Balance won't be hit by Clause (i) of...
![Amount of Provision for Bad and Doubtful Debts Reduced from Sundry Debtors Balance wont be hit by Clause (i) of Explanation to Sec 115JB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Amount-of-Provision-Provision-Doubtful-Debt-Bad-debt-Sundry-Debtors-Sundry-Debtors-Balance-Explanation-ITAT-Taxscan.jpg "Amount of Provision for Bad and Doubtful Debts Reduced from Sundry Debtors Balance wont be hit by Clause (i) of Explanation to Sec 115JB: ITAT [Read Order]")