![ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Penalty-Order-as-Non-Filing-of-Income-Tax-Return-and-Concealing-Particulars-Levied-u-s-2711c-TAXSCAN.jpg "ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]")
ITAT quashes Penalty Order as Non-Filing of Income Tax Return and Concealing Particulars Cannot be Levied u/s 271(1)(c) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the penalty order as the non-filing of income return and concealing...
![Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-Proceeds-of-Gold-Jewellery-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Purchase of Flat out of Sale Proceeds of Gold Jewellery: ITAT Allows Capital Gain Exemption u/s 54F [Read Order]")
![Activities by Liaison Office proprietary in Nature, not PE under India Switzerland DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Liaison-Office-proprietary-Liaison-Office-PE-India-Switzerland-DTAA-ITAT-Income-Tax-taxscan.jpg "Activities by Liaison Office proprietary in Nature, not PE under India Switzerland DTAA: ITAT [Read Order]")
![Income Tax Addition against Company based on Statement of Director during Search cannot be Confirmed without Supporting Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Addition-Search-Supporting-Evidence-ITAT-TAXSCAN.jpg "Income Tax Addition against Company based on Statement of Director during Search cannot be Confirmed without Supporting Evidence: ITAT [Read Order]")
![Warner Bros have No PE in India: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Warner-Bros-No-PE-ITAT-Addition-TAXSCAN.jpg "Warner Bros have No PE in India: ITAT deletes Addition [Read Order]")
Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that payment received as Non compete fees are taxable under the head of income from the business & Profession section. ...
![Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Payment-Payment-received-Non-Compete-Fees-taxable-Income-Business-Profession-ITAT-Taxscan.jpg "Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]")
Commodity Transactions carried out during Regular course of Business cannot be treated as 'Speculative Business': ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal has allowed the deduction holding that the commodity transactions carried out during the regular course of business could not be treated as...
![Commodity Transactions carried out during Regular course of Business cannot be treated as Speculative Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Commodity-Transactions-Business-Speculative-Business-ITAT-taxscan.jpg "Commodity Transactions carried out during Regular course of Business cannot be treated as Speculative Business: ITAT [Read Order]")
Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Interest on income tax refund not connected with Permanent Establishment (PE), taxable under India Malaysia Double Taxation Avoidance...
![Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Interest-on-Income-Tax-Refund-PE-India-Malaysia-DTAA-ITAT-taxscan.jpg "Interest on Income Tax Refund not connected with PE, Taxable under India Malaysia DTAA: ITAT [Read Order]")
Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), presided over by Judicial Member Vikas Awasthy, decided that the cooperative society is entitled to claim a deduction for said interest...
![Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Co-Operative-Society-Claim-Deduction-of-Interest-Deduction-Deduction-of-Interest-Deposits-Co-Operative-Banks-ITAT-Income-Tax-Taxscan.jpg "Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]")
![Income Tax Return Filed after Due Date under Section 80AC: ITAT denies Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Return-Filed-after-Due-Date-under-Section-80AC-ITAT-denies-Deduction-TAXSCAN.jpg "Income Tax Return Filed after Due Date under Section 80AC: ITAT denies Deduction [Read Order]")
Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while allowing relief to IndusInd Bank has held that the bad debts arising from the credit card business shall be allowable as business...
![Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bad-Debts-Bad-Debts-from-Credit-Card-Business-Business-Loss-ITAT-IndusInd-Bank-taxscan.jpg "Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]")
Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]
In a significant ruling in the case of Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Revenue sharing license fee paid fixedly to the department...
![Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revenue-License-Fee-Telecommunication-Deduction-ITAT-Vi-Income-Tax-taxscan.jpg "Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]")