![Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Bangalore-Cooperative-Bank-Cooperative-Society-Interest-Income-Tax-deduction-TAXSCAN.jpg "Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]")
Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) disallowed deduction under Section 80P (2)(d) of the Income Tax Act, 1961, stating...
![No Enquiries made AO in Respect of genuineness of Receipts of donation issued to Political party for Confirming Deduction Claimed u/s 80GGC of IT Act: ITAT Upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Ahmedabad-Income-Tax-receipts-of-donation-taxscan.jpg "No Enquiries made AO in Respect of genuineness of Receipts of donation issued to Political party for Confirming Deduction Claimed u/s 80GGC of IT Act: ITAT Upholds Revision Order [Read Order]")
![ITAT Resolves Boeing Indias transfer Pricing battle: Clears INR 21,52,899 adjustment on grounds of Operational Inactivity and BCIL Merger [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Boeing-India-Boeing-India-Transfer-pricing-ITAT-Income-Tax-Boeing-Corporation-India-ITAT-on-Boeing-India-taxscan.jpg "ITAT Resolves Boeing Indias transfer Pricing battle: Clears INR 21,52,899 adjustment on grounds of Operational Inactivity and BCIL Merger [Read Order]")
![Income earned from carrying out educational activity is eligible for exemption u/S 10 (23C)(vi) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Educational-income-Income-Tax-ITAT-Kolkata-Tax-exemption-for-educational-income-taxscan.jpg "Income earned from carrying out educational activity is eligible for exemption u/S 10 (23C)(vi) of Income Tax Act: ITAT [Read Order]")
![Non-Responsiveness to Statutory Notice and failure to produce evidence in assessement u/S 143(3) of Income Tax Act: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-Tax-ITAT-Delhi-Statutory-notices-Evidence-production-failure-Non-responsiveness-taxscan.jpg "Non-Responsiveness to Statutory Notice and failure to produce evidence in assessement u/S 143(3) of Income Tax Act: ITAT dismisses appeal [Read Order]")
Non-appearance due to continuation of information gathering process not Deliberate Act: ITAT quashes Assessment Order of CIT(A) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the assessment order of the Commissioner of Income Tax ( appeals ) acknowledging that the non-appearance due to...
![Non-appearance due to continuation of information gathering process not Deliberate Act: ITAT quashes Assessment Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Mumbai-Assessment-order-Commissioner-of-Income-Tax-appeals-Information-gathering-process-Income-Tax-taxscan-1.jpg "Non-appearance due to continuation of information gathering process not Deliberate Act: ITAT quashes Assessment Order of CIT(A) [Read Order]")
Order passed Invoking S. 263 without Satisfying Twin Condition is Invalid: Delhi HC [Read Order]
The Delhi High Court has held that an order passed invoking section 263 of the Income Tax Act, 1961 without satisfying twin condition is invalid. The conditions are that the order of the AO should be...
![Order passed Invoking S. 263 without Satisfying Twin Condition is Invalid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Delhi-High-Court-Twin-Condition-Interest-of-revenue-Income-Tax-AOs-erroneous-order-Assesing-officer-taxscan.jpg "Order passed Invoking S. 263 without Satisfying Twin Condition is Invalid: Delhi HC [Read Order]")
Failure of CA to Register E-Mail ID on Income Tax Portal: ITAT grants another Opportunity to Assessee [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted another opportunity to the assessee due to the failure of the Chartered Accountant (CA) to register the email ID on the income tax...
![Failure of CA to Register E-Mail ID on Income Tax Portal: ITAT grants another Opportunity to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-image-4-1.jpg "Failure of CA to Register E-Mail ID on Income Tax Portal: ITAT grants another Opportunity to Assessee [Read Order]")
ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance under Section 40A(2)(B) of the Income Tax Act 1961, upon estimated income from subcontract of joint venture The...
![ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Disallowance-Estimated-Income-Sub-Contract-of-Joint-Venture-Joint-Venture-Income-Tax-Act-Income-Tax-ITAT-TAXSCAN.jpg "ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]")
M2M loss on Future and Forward Contracts are not Notional Loss of Contingent Nature: ITAT allows Foreign Exchange Fluctuation Loss [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the foreign exchange fluctuation loss holding that the Market to Market (M2M) loss on future and forward contracts were not...
![M2M loss on Future and Forward Contracts are not Notional Loss of Contingent Nature: ITAT allows Foreign Exchange Fluctuation Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/M2M-loss-on-Future-and-Forward-Contract-Notional-Loss-M2M-loss-ITAT-Foreign-Exchange-Fluctuation-Loss-taxscan.jpg "M2M loss on Future and Forward Contracts are not Notional Loss of Contingent Nature: ITAT allows Foreign Exchange Fluctuation Loss [Read Order]")
Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]
The High Court (HC) of Orissa while upholding the order passed by Income Tax Appellate Tribunal ( ITAT ) held that the total Revenue Earned calculated without considering the capital expenditure is...
![Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Capital-Expenditure-Orissa-High-Court-ITAT-ITAT-Order-Taxscan.jpg "Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]")
Decision taken by Authorities in Previous Year would not estop or operate as res judicata for Subsequent Year: ITAT [Read Order]
Decision taken by authorities in previous year would not estop or operate as res judicata for subsequent year, so was held by the Income Tax Appellate Tribunal (ITAT), Ahmedabad. The assessee,...
![Decision taken by Authorities in Previous Year would not estop or operate as res judicata for Subsequent Year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/authorities-ITAT-taxscan.jpeg "Decision taken by Authorities in Previous Year would not estop or operate as res judicata for Subsequent Year: ITAT [Read Order]")