![FTS and Interest Income earned from joint venture Indian company shall be taxed as per order passed TDS officer u/s 195 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/FTS-and-Interest-Income-earned-joint-venture-Indian-company-taxed-as-per-order-passed-TDS-officer-Income-Tax-Act-ITAT-TAXSCAN.jpg "FTS and Interest Income earned from joint venture Indian company shall be taxed as per order passed TDS officer u/s 195 of Income Tax Act: ITAT [Read Order]")
FTS and Interest Income earned from joint venture Indian company shall be taxed as per order passed TDS officer u/s 195 of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that the Fee for Technical Service (FTS) and interest income earned from the joint venture...
![Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Imposition-Income-tax-Addition-Additional-Amount-Purchase-Land-Two-Co-owners-ITAT-Condones-Delay-TAXSCAN.jpg "Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]")
![ITAT dismisses appeal due to non compliance of notice issued by ITD for determining value of land u/s 50C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-dismisses-appeal-non-compliance-notice-issued-ITD-for-determining-value-land-50C-Income-Tax-Act-TAXSCAN.jpg "ITAT dismisses appeal due to non compliance of notice issued by ITD for determining value of land u/s 50C of Income Tax Act [Read Order]")
![Penalty Imposed by AO u/s 271(1)(b)Â Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Penalty-Imposed-by-AO-Income-Tax-Act-for-Non-Compliance-to-Notices-issued-Assessment-Limitation-Period-ITAT-Dismisses-Appeal-TAXSCAN.jpg "Penalty Imposed by AO u/s 271(1)(b)Â Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]")
![Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Land-Sold-Assessee-Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Sets-aside-Income-Tax-TAXSCAN.jpg "Land Sold by Assessee is Agricultural Land and doesnt qualify as Capital Asset in terms of Section 2(14)(iii) of Income Tax Act : ITAT Sets aside Income Tax Addition [Read Order]")
![Reopening of Assessment without Valid Jurisdiction: ITAT Dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Reopening-Assessment-Valid-Jurisdiction-ITAT-Revenue-Appeal-TAXSCAN.jpg "Reopening of Assessment without Valid Jurisdiction: ITAT Dismisses Revenue Appeal [Read Order]")
Calcutta High Court Remands Income Tax Reassessment Order Citing Denial of Right to Cross-Examine Witness: Upholds Principles of Natural Justice [Read Order]
The High Court of Calcutta has set aside an income tax reassessment order under Section 147(under the Old unamended Act) of the Income Tax Act, 1961 relating to assessment year 2017-18 on the ground...
![Calcutta High Court Remands Income Tax Reassessment Order Citing Denial of Right to Cross-Examine Witness: Upholds Principles of Natural Justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Calcutta-High-Court-Income-Tax-Reassessment-Citing-Denial-Right-Cross-Examine-Witnessm-Principles-Natural-Justice-TAXSCAN-1.jpg "Calcutta High Court Remands Income Tax Reassessment Order Citing Denial of Right to Cross-Examine Witness: Upholds Principles of Natural Justice [Read Order]")
No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench while observing the no representation before the lower authorities by the assessee directed readjudication in respect of Sale Consideration...
![No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-effective-Representation-Authorities-No-effective-Representation-before-lower-Authorities-ITAT-taxscan.jpg "No effective Representation before lower Authorities: ITAT direct readjudication in respect of Sale Consideration deposit in Bank Account [Read Order]")
Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) held that the amended provisions of section 50C(1) of the Income Tax Act is retrospective in nature, the value adopted or assessed or...
![Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Retrospective-Nature-ITAT-Directs-AO-Calculate-Capital-Gain-taxscan.jpg "Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]")
Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench directed to deposit Rs. 5500/- in Prime Minister relief Fund due to failure to comply with the notice issued by the CIT(A) to substantiate...
![Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-Failure-to-appear-Before-CITA-in-spite-of-sending-six-notices-CITA-notices-taxscan.jpg "Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]")
Depreciation of 15% allowable on Electrical Fittings installed at factory premises: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that since the Assessing Officer (AO) himself has accepted the higher claim of 15% in Assessment Year 2014-15, thus allowed of claim of...
![Depreciation of 15% allowable on Electrical Fittings installed at factory premises: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Depreciation-allowable-Electrical-Fittings-installed-factory-premises-ITAT-Assessing-Officer-allowed-of-claim-of-higher-depreciation-taxscan.jpg "Depreciation of 15% allowable on Electrical Fittings installed at factory premises: ITAT [Read Order]")
Reopening of Assessment is Illegal since the Escaped Income forming 'Reason to Believe' is not Assessed: ITAT quashes Re-Assessment Order [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) held that if the income, the escapement of which was the basis of the formation of the reason to believe, is not assessed or reassessed, it...
![Reopening of Assessment is Illegal since the Escaped Income forming Reason to Believe is not Assessed: ITAT quashes Re-Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-Assessment-Illegal-Income-Believe-not-Assessed-ITAT-quashes-Re-Assessment-Order-taxscan.jpg "Reopening of Assessment is Illegal since the Escaped Income forming Reason to Believe is not Assessed: ITAT quashes Re-Assessment Order [Read Order]")