Judgement

The ITAT Bangalore held that interest earned from temporary surplus funds is business income eligible for Section 80P deduction, not “income from other sources".

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

News

The IT Department has replaced old Form 49B with new Forms 134 and 135 to simplify the TAN application process.

Applying for TAN? Here’s What’s Changed with the New Forms

HC dismisses revenue appeal upholding ITAT relief on multiple tax additions and disallowances

UPS forms integral part of computer and is eligible for higher rate depreciation: High Court

High Court quashes rectification holding DTVSV settlement final and bars further proceedings under Section 154.

Income Tax Section 154 Cannot Override DTVSV Final Settlement, Holds HC

The Bombay High Court condones the delay in filing the revised ITR, recognizing breast cancer treatment as a genuine hardship and directing the reopening of the portal.

HC Condones Delay in Filing Revised ITR Citing Genuine Hardship Arising from Breast Cancer Treatment

KEC International’s subsidiary has received a Rs 46.19 crore tax demand notice from the IT Department, which the company plans to legally challenge.

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Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

Applying for TAN? Here’s What’s Changed with the New Forms

UPS forms integral part of computer and is eligible for higher rate depreciation: High Court

Income Tax Section 154 Cannot Override DTVSV Final Settlement, Holds HC

HC Condones Delay in Filing Revised ITR Citing Genuine Hardship Arising from Breast Cancer Treatment

KEC International Subsidiary Receives Rs 46.19 Crore Income Tax Demand Notice