Judgement

The Income Tax Appellate Tribunal (ITAT) Delhi has held that notional interest on interest-free loans advanced to subsidiary companies cannot be brought to tax in the absence of actual accrual or receipt of income.

ITAT Deletes Notional Interest Addition on Interest-Free Loans to Subsidiaries and Remands Ad-hoc Capitalization of Installation Expenses

Tribunal deletes Sections 68 and 69C additions on genuine exchange-traded share transactions.

ITAT Deletes Penny Stock Additions Backed Only by Suspicion

The ITAT Delhi has deleted an addition of Rs 9.41 crore made under Section 68 in respect of cash deposits during the demonetization period.

ITAT Delhi Deletes Rs 9.41 Crore Addition on Demonetisation Cash Deposits Holding Suspicion Alone Cannot Justify Addition

High Court condones return filing delays and protects Section 80P deduction claims of societies.

Madras High Court Condones Delay in ITR Filing by Cooperative Societies, Restores Section 80P Benefit Claims

ITAT quashes AY 2012-13 reassessment, ruling that the reopening under Sections 147/148 was based on defective reasons and lacked proper application of mind.

ITAT Quashes Reassessment for AY 2012-13, Cites Defective Reasons for Reopening

News

New Ordinance Exempts Foreign Investors from LTCG Tax on Government Securities.

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ITAT Deletes Notional Interest Addition on Interest-Free Loans to Subsidiaries and Remands Ad-hoc Capitalization of Installation Expenses

ITAT Deletes Penny Stock Additions Backed Only by Suspicion

ITAT Delhi Deletes Rs 9.41 Crore Addition on Demonetisation Cash Deposits Holding Suspicion Alone Cannot Justify Addition

Madras High Court Condones Delay in ITR Filing by Cooperative Societies, Restores Section 80P Benefit Claims

ITAT Quashes Reassessment for AY 2012-13, Cites Defective Reasons for Reopening

Government Removes LTCG Tax on Foreign Investments in Sovereign Bonds