ITAT allows Claim of Deduction u/s 80P (2) (a) (i) in respect of Interest Earned from Credit Facilities extended to members including Nominal / Associate Members [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the claim of deduction under Section 80P (2)(a)(i) in respect of interest...
![Demand in Computation Sheet and Notice cannot be Sustained if Income Tax Assessment Order does not Propose Addition: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Madras-hc-madras-high-court-income-tax-income-tax-acts-income-tax-rules.jpg "Demand in Computation Sheet and Notice cannot be Sustained if Income Tax Assessment Order does not Propose Addition: Madras HC [Read Order]")
![ITAT upholds Disallowance for delayed deposit of PF & ESIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Disallowance-for-Delayed-Deposit-TAXSCAN.jpg "ITAT upholds Disallowance for delayed deposit of PF & ESIC [Read Order]")
![Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Sale-of-Shares-Unwarranted-litigation-taxscan.jpg "Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]")
![Change of Opinion by AO not Justification for assuming Income Chargeable to Tax by AO: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Bombay-High-Court-Assessing-Officer-Income-Chargeable-to-Tax-Income-Tax-TAXSCAN.jpeg "Change of Opinion by AO not Justification for assuming Income Chargeable to Tax by AO: Bombay HC [Read Order]")
ITR Filed along with Form 10CCB: ITAT allows Claim of Deduction u/s 80-IC of Income Tax Act [Read Order]
The two member bench of the Income Tax Appellate Tribunal ( ITAT ) Mumbai, allowed the claim of deduction under Section 80-IC of the Income Tax Act, 1961, based on the Income Tax Return ( ITR ) filed...
![ITR Filed along with Form 10CCB: ITAT allows Claim of Deduction u/s 80-IC of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Mumbai-Income-Tax-ITR-form-10CCB-TAXSCAN.jpg "ITR Filed along with Form 10CCB: ITAT allows Claim of Deduction u/s 80-IC of Income Tax Act [Read Order]")
Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be allowed where the purchase and sale of shares on which...
![Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Exemption-Sale-of-Shares-Purchase-of-shares-long-term-capital-gain-ITAT-ITAT-Kolkata-shares-taxscan.jpg "Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]")
Material which considered in Prior Reassessment Proceedings shall not subject matter of Reassessment in Fresh Proceedings: Delhi HC [Read Order]
In a recent case, the Delhi High Court, while allowing the writ petition, held that material considered in prior reassessment proceedings should not be the subject matter of reassessment in fresh...
![Material which considered in Prior Reassessment Proceedings shall not subject matter of Reassessment in Fresh Proceedings: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Material-Reassessment-Proceedings-Delhi-High-Court-writ-petition-Fresh-Proceedings-taxscan.jpg "Material which considered in Prior Reassessment Proceedings shall not subject matter of Reassessment in Fresh Proceedings: Delhi HC [Read Order]")
Non-striking of Irrelevant limb amounts to Vagueness and Ambiguity in Notice which tantamount to Non-Application of Mind: ITAT grants relief to Global Cricket [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Global Cricket and held that non-striking of irrelevant limbs amounts to vagueness and ambiguity in the notice which is...
![Non-striking of Irrelevant limb amounts to Vagueness and Ambiguity in Notice which tantamount to Non-Application of Mind: ITAT grants relief to Global Cricket [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Ambiguity-in-Notice-Notice-Ambiguity-tantamount-Non-Application-of-Mind-ITAT-grants-relief-to-Global-Cricket-ITAT-Global-Cricket-Cricket-taxscan.jpg "Non-striking of Irrelevant limb amounts to Vagueness and Ambiguity in Notice which tantamount to Non-Application of Mind: ITAT grants relief to Global Cricket [Read Order]")
Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench, while upholding the revision order passed under section 263 of the Income Tax Act, 1961, held that the Assessing Officer failed to conduct...
![Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Demonetization-Period-ITAT-abnormal-cash-income-tax-news-taxscan.jpg "Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]")
Payment from SET Satellite (Singapore) P. ltd are not Taxable as ‘royalty’ under Article 12(2) of India-Singapore Treaty: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the payments from the SET Satellite (Singapore) Pte Ltd are not taxable as royalty under Article 12(2) of the India-Singapore...
![Payment from SET Satellite (Singapore) P. ltd are not Taxable as ‘royalty’ under Article 12(2) of India-Singapore Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/India-Singapore-Treaty-Payment-from-SET-Satelli-royalty-under-Article-12-taxscan.jpg "Payment from SET Satellite (Singapore) P. ltd are not Taxable as ‘royalty’ under Article 12(2) of India-Singapore Treaty: ITAT [Read Order]")
Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the proposed addition made under Section 50C of the Income Tax Act, 1961, concerning Long-Term Capital Gain, could only be processed...
![Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-restored-issue-back-to-AO-respect-of-LTCG-Income-Tax-Act-ITAT-restored-issue-taxscan.jpg "Proposed Addition made u/s 50C Income Tax Act in respect of LTCG can be processed only u/s 143(3) of I.T Act: ITAT restored issue back to AO [Read Order]")