![SC Dismisses Rs. 5L Cost imposed by Allahabad HC against Income Tax Dept for Initiating Reassessment with Incorrect Information [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Supreme-Court-Allahabad-High-Court-Allahabad-HC-Income-Tax-Dept-Reassessment-with-Incorrect-Information-taxscan.jpg "SC Dismisses Rs. 5L Cost imposed by Allahabad HC against Income Tax Dept for Initiating Reassessment with Incorrect Information [Read Order]")
SC Dismisses Rs. 5L Cost imposed by Allahabad HC against Income Tax Dept for Initiating Reassessment with Incorrect Information [Read Order]
The cost of Rs. 5 lakhs was dismissed by the Supreme Court which was imposed by the Allahabad High Court following the power abuse of the income tax...
![Hearing Notices Sent to Registered E-mail ID went Unnoticed leading to Non-appearance: ITAT Remands file to CIT (A) for Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Appeals-ITAT-Pune-Income-Tax-Appellate-Tribunal-Tax-Notices-TAXSCAN.jpeg "Hearing Notices Sent to Registered E-mail ID went Unnoticed leading to Non-appearance: ITAT Remands file to CIT (A) for Fresh Adjudication [Read Order]")
![Underway Payments to Union Bank of India: ITAT Condones Delay of 1999 Days in Filing Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Union-Bank-of-India-us-80P-2ai-Dividends-Co-operative-Bank-Shares-TAXSCAN-1.jpg "Underway Payments to Union Bank of India: ITAT Condones Delay of 1999 Days in Filing Appeal [Read Order]")
![ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Union-Bank-of-India-us-80P-2ai-Dividends-Co-operative-Bank-Shares-TAXSCAN-1.jpg "ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]")
![ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Deduction-to-Union-Bank-of-India-u-s-80P-2ai-for-Dividends-Co-operative-Bank-Shares-TAXSCAN.jpg "ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]")
Authority cannot Pass Provisional Attachment Order u/s 5 of PML Act without Recording Reasons: Andhra Pradesh HC [Read Order]
The Andhra Pradesh High Court held that the authority cannot pass provisional attachment order under section 5 of the Prevention of Money Laundering Act, 2002 without recording the reason. Sri I....
Interest Income of Farmers Services Co-operative Society from Fixed Deposits in Union Bank of India deductible u/s 80P (2)(a)(i): ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) recently held that interest income of Farmers service co-operative society from fixed deposits in Union Bank of India is deductible under...
![Interest Income of Farmers Services Co-operative Society from Fixed Deposits in Union Bank of India deductible u/s 80P (2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-Farmers-Services-Co-operative-Society-Services-Co-operative-Society-Fixed-Deposits-Union-Bank-of-India-ITAT-Taxscan.jpg "Interest Income of Farmers Services Co-operative Society from Fixed Deposits in Union Bank of India deductible u/s 80P (2)(a)(i): ITAT [Read Order]")
Prosecution under PML Act permissible even if Petitioner indirectly involved in offence of money Laundering: HC
The High Court of Madras has held that Prosecution under the Prevention of Money Laundering Act, 2002permissible even if Petitioner indirectly involved in offence of money laundering. The...
Deduction allowable on Expenditure if purpose of incurring Expenditure is to earn Income: Karnataka HC [Read Order]
The Karnataka High Court held that the deduction is allowable on expenditure if the purpose of incurring expenditure is to earn income. The assessee, West Palm Development LLP is engaged in...
![Deduction allowable on Expenditure if purpose of incurring Expenditure is to earn Income: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/d5a847da-a78c-4190-b357-ae4a25f4e1e3.jpg "Deduction allowable on Expenditure if purpose of incurring Expenditure is to earn Income: Karnataka HC [Read Order]")