![Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Hardship-Allowances-Non-Taxable-Compensate-Dispossession-ITAT-News-taxscan.jpg "Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]")
Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]
Recently in a case, the Income Tax Appellate Tribunal (ITAT) of Mumbai held that hardship and rehabilitation allowances received from housing...
![Assessment Order u/s 148 of Income Tax Act passed without considering merging of Transferor Company: Madras HC sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Assessment-Income-Tax-Ac-Merging-Transferor-Company-Madras-High-Court-Assessment-Order-taxscan.jpg "Assessment Order u/s 148 of Income Tax Act passed without considering merging of Transferor Company: Madras HC sets aside Assessment Order [Read Order]")
![Income Tax Notice issued u/s 148 on last date of Limitation Period not Time Barred: Delhi HC Dismisses Review Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Income-Tax-Notice-Income-Tax-Notice-Issued-Last-Date-of-Limitation-Period-Limitation-Period-Delhi-HC-Dismisses-Review-Petition-TAXSCAN.jpg "Income Tax Notice issued u/s 148 on last date of Limitation Period not Time Barred: Delhi HC Dismisses Review Petition [Read Order]")
![AO Mistakenly Added previous years Balance into Account while computing total receipt: Kerala HC sets aside Assessment Order [ Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-Mistakenly-Added-previous-years-Balance-total-receipt-Kerala-HC-Assessment-Order-taxscan.jpg "AO Mistakenly Added previous years Balance into Account while computing total receipt: Kerala HC sets aside Assessment Order [ Read Order]")
![Relief to Asian Paints: Supreme Court upholds Bombay HCs Decision to Quash Reassessment Proceedings; Dismisses SLPs of Income Tax Dept [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Relief-Asian-Paints-Supreme-Court-upholds-Bombay-HCs-Quash-Reassessment-Proceedings-SLPs-Income-Tax-Dept-taxscan-1.jpg "Relief to Asian Paints: Supreme Court upholds Bombay HCs Decision to Quash Reassessment Proceedings; Dismisses SLPs of Income Tax Dept [Read Order]")
Non-Filing of ITR on Bonafide Belief of Exemption u/s 80P of Income Tax Act: Kerala HC directs to File ITR [Read Order]
The Kerala High Court directed to Income Tax Returns (ITR) as there was non-filing of the income tax returns on bonafide belief of the exemption under Section 80P of the Income Tax Act, 1961. The...
![Non-Filing of ITR on Bonafide Belief of Exemption u/s 80P of Income Tax Act: Kerala HC directs to File ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-Filing-ITR-on-Bonafide-Belief-Exemption-Income-Tax-Act-Kerala-HC-directs-File-ITR-TAXSCAN.jpg "Non-Filing of ITR on Bonafide Belief of Exemption u/s 80P of Income Tax Act: Kerala HC directs to File ITR [Read Order]")
No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that no additions shall be made under Section 68 of the Income Tax Act, 1961 on unsecured loans if the assessee furnishes proper...
![No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Additions-No-Additions-Income-Tax-Act-Unsecured-Loans-ITAT-taxscan.jpg "No Additions shall be made u/s 68 of Income Tax Act on Unsecured Loans if Assessee furnishes Proper Evidences: ITAT [Read Order]")
Interest u/s 24(b) of Income Tax Act allowable when Charging for Income Receivable and Income is Approved: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest under Section 24(b) of the Income Tax Act 1961 which allows deduction of interest on home loan from the taxable...
![Interest u/s 24(b) of Income Tax Act allowable when Charging for Income Receivable and Income is Approved: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Income-Tax-Act-Charging-Income-Receivable-Income-Approved-ITAT-TAXSCAN.jpg "Interest u/s 24(b) of Income Tax Act allowable when Charging for Income Receivable and Income is Approved: ITAT [Read Order]")
Different View taken by AAR cannot be Sufficient Basis for Income Tax Officer to Believe Escapement of Income: Bombay HC quashes Assessment Notice [Read Order]
The Bombay High Court quashed assessment notice and observed that the different view taken by AAR cannot be sufficient basis for Income Tax Officer to believe escapement of income. The petitioner,...
![Different View taken by AAR cannot be Sufficient Basis for Income Tax Officer to Believe Escapement of Income: Bombay HC quashes Assessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AAR-Income-Tax-Officer-Income-Tax-Income-Assessment-Notice-Assessment-Notice-Different-View-taken-by-AAR-Bombay-HC-quashes-Assessment-Notice-Taxscan.jpg "Different View taken by AAR cannot be Sufficient Basis for Income Tax Officer to Believe Escapement of Income: Bombay HC quashes Assessment Notice [Read Order]")
Reassessment Proceedings Initiated on Recovery of Tax Share Premium of Rs 679.32 Crores without any Tangible Material to Prove Income Escapement: Bombay HC Quashes Reassessment Order
In a significant case, the Bombay High Court has quashed the reassessment proceedings initiated to recover the tax share premium of Rs. 679 crores without any reason on tangible material to prove...
Re-assessment u/s 147 of Income Tax Act After Expiry of Four years from End of Relevant Year of Assessment is Invalid: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the reopening of assessment under section 147 of the Income Tax Act,1961 after the expiry of four years from the end of the...
![Re-assessment u/s 147 of Income Tax Act After Expiry of Four years from End of Relevant Year of Assessment is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Re-assessment-Income-Tax-Act-After-Expiry-of-Four-years-from-End-of-Relevant-Year-of-Assessment-is-Invalid-ITAT-TAXSCAN.jpg "Re-assessment u/s 147 of Income Tax Act After Expiry of Four years from End of Relevant Year of Assessment is Invalid: ITAT [Read Order]")
Assessment Order cannot Target Sole Legal Heir of Deceased Assessee Alone: Delhi HC sets aside Rs. 10 Crores Demand [Read Order]
In a recent judgment the Delhi High Court observed that an assessment order cannot target sole legal heir of deceased assessee, thereby setting aside a demand of Rupees 10 crores. The writ...
![Assessment Order cannot Target Sole Legal Heir of Deceased Assessee Alone: Delhi HC sets aside Rs. 10 Crores Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessment-Order-cannot-Target-Sole-Legal-Heir-of-Deceased-Assessee-Alone-Delhi-HC-TAXSCAN.jpg "Assessment Order cannot Target Sole Legal Heir of Deceased Assessee Alone: Delhi HC sets aside Rs. 10 Crores Demand [Read Order]")