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ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the Revenue as the tax effect was below Rs. 60 lakhs, and in accordance with the Central Board of Direct...

ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]
Saagarika Gopinath

S.14A Disallowance not Applicable when Exempt Income is not Gained: Delhi HC dismisses Income Tax Appeal against Sahara India Financial Corporation [Read Order]

The Delhi High Court in a recent Income Tax Appeal against Sahara India Financial Corporation held that no disallowance of any expenditure under Section 14A of the Income Tax Act, 1961 is permissible...

S.14A Disallowance not Applicable when Exempt Income is not Gained: Delhi HC dismisses Income Tax Appeal against Sahara India Financial Corporation [Read Order]
Avinash Kurungot

Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that that notional guarantee increasing investment  cost cannot be treated as actual income. The...

Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]
Varda Marakkar

Bank Charges & Bank Guarantee Charges Not Amounts to Interest: ITAT Deletes Disallowance u/s 14A of Income Tax Act [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that bank charges and bank guarantee charges do not partake in the character of interest and had been wrongly included as interest...

ITAT- Income Tax - Income Tax Act - ITAT Deletes Disallowance - ITAT in delhi - income tax news - TAXSCAN
Yogitha S. Yogesh

Deletion of Addition u/s 14A of Income Tax Act: Allahabad HC dismisses Revenue Dept’s Appeal [Read Order]

The Allahabad High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to delete additions made under Section 14A of the Income Tax Act. The court dismissed the appeal filed...

Deletion of Addition u/s 14A of Income Tax Act: Allahabad HC dismisses Revenue Dept’s Appeal [Read Order]
Ashkar Tovarishch

Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing officer to assess the interest income under the head "Income from Business," confirming that interest income is...

Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]
Aiswarya Krishnadas

Disallowance u/s 14A of Income Tax Act should be limited to Exempted Income: ITAT [Read Order]

The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Bangalore held that disallowance under Section 14A of the Income Tax Act, 1961 should be limited to exempted income. The Assessee...

Disallowance u/s 14A of Income Tax Act should be limited to Exempted Income: ITAT [Read Order]
Aparna. M

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