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Employer’s Voluntary Ex-gratia Compensation not taxable U/s. 17(3)(i): ITAT Delhi

May 3, 2024 3 Views 0 comment Print

ITO Vs Avirook Sen (ITAT Delhi) The case of ITO Vs Avirook Sen (ITAT Delhi) revolves around the taxation of voluntary ex-gratia compensation paid by an employer to an employee after termination from service. The Revenue contested the deletion of an addition of Rs. 2,13,08,444/- by the CIT(A). The crux of the dispute lies in […]

No section 68 addition for Share Capital Subscription if assessee submits evidence for source of funds

May 2, 2024 84 Views 0 comment Print

In DCIT vs. CDS Infra Projects Limited, ITAT Delhi ruled no addition under section 68 of Income Tax Act if proper evidence for source of share capital subscription is submitted.

No Section 54 Deduction Without basic Amenities: ITAT Delhi

May 2, 2024 114 Views 0 comment Print

Analysis of ITAT Delhi’s ruling in DCIT vs. Sandeep Hooda clarifies conditions for Income Tax Act 1961 Section 54 deduction eligibility in absence of basic amenities.

AO Can’t reject Assessee’s Valuation Method without Finding Defect

May 2, 2024 129 Views 0 comment Print

Discover ITAT Kolkata ruling in Deep Jyoti Wax Traders Pvt. Ltd vs. ITO, highlighting the importance of assessee chosen valuation method under Rule 11UA(2).

Section 80P(2)(d) Deduction: Dividend from Co-op Banks & Credit Society

May 2, 2024 114 Views 0 comment Print

Explore the case of Mahapalika Kshetra Madhyamik Shikshak Sahakari Pat Sanstha Maryadit vs CIT(A) (ITAT Mumbai) regarding deduction under section 80P(2)(d) of the Income Tax Act.

Validity of CIT(A) Orders Without Remand Report: Vizag ITAT Ruling

May 2, 2024 234 Views 0 comment Print

Vizag ITAT ruled that CIT(A) order without remand report is invalid in Deputy Commissioner of Income Tax (Exe) Vs. Keshava Reddy Educational Society case.

Income Tax penalty amount not recoverable from legal representatives of accused

April 30, 2024 7788 Views 0 comment Print

The case of Beantkaur Avtarsingh Juneja versus ITO, Nagpur, has sparked significant debate regarding recoverability of income tax penalties from legal representatives of deceased individuals accused of tax offenses.

Section 80P(2)(a)(i) Deduction cannot be denied without Substantiated Reasoning

April 29, 2024 321 Views 0 comment Print

The Presbyterian Churc Co. Operating Credit & Thrift Society Ltd. Vs ITO (ITAT Jaipur) Section 80P(2)(a)(i) deduction cannot be denied without specifying how the claim of the assessee is not correctly claimed & for motioning status as AOP

ITAT Dismisses Appeal Due to absence of Reasonable cause for 726-Day Delay

April 28, 2024 345 Views 0 comment Print

Read the full text of the order from ITAT Chennai dismissing the appeal due to unexplained 726-day delay. Detailed analysis and implications provided.

ITAT allows Section 80P(2)(a)(i) deduction on dividend from Chennai Central Co-operative Bank

April 28, 2024 432 Views 0 comment Print

Read the detailed analysis of Union Bank of India’s case vs ITO where ITAT Chennai grants deduction under Section 80P for dividends from cooperative bank shares.

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