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ITAT quashes re-assessment proceedings: Partners property incorrectly assumed as Firms property

June 24, 2024 258 Views 0 comment Print

ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice under section 148.

Investment with co-operative bank eligible for Section 80P(2)(d) deduction  

June 21, 2024 588 Views 0 comment Print

Explore the ITAT Bangalore ruling on Raythara Sahakari Sangha Ltd. vs. ITO, addressing the eligibility for deduction under Section 80P(2)(d) of the Income Tax Act.

ITAT Directs 6% SBI Rate on Delayed Payments in International Transactions

June 21, 2024 345 Views 0 comment Print

Explore the ITAT Hyderabad’s decision on interest as an international transaction in Clinasia Labs Pvt Ltd vs ITO case. Detailed analysis and conclusions provided.

ITAT allows section 80P(2)(d) deduction for interest income earned from cooperative banks

June 21, 2024 135 Views 0 comment Print

Discover the key rulings in the ITAT Bangalore’s judgment on Totgars’ Co-operative Sale Society Ltd. vs ACIT for the assessment years 2015-2018, focusing on section 80P(2)(d) deductions.

Section 801B(10): Deduction for Housing Projects Not Tied to Separate Approvals for Eligible Units

June 21, 2024 663 Views 0 comment Print

Detailed analysis of Shipra Estate Ltd. & Jai Krishan Estate Developers Pvt. Ltd. vs ACIT case by ITAT Delhi on eligibility for deduction under section 80IB(10) of the Income Tax Act, focusing on the project completion method and built-up area criteria.

Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

June 20, 2024 543 Views 0 comment Print

ITAT Bangalore rules on Tumkur City Credit Society vs ITO, confirming eligibility for deduction u/s 80P(2)(d) of the Income Tax Act. Case remitted to AO for review.

Assessments Void Due to Lack of Section 153D Approval: Delhi ITAT

June 20, 2024 273 Views 0 comment Print

The Delhi ITAT ruled assessments concluded without mandatory Section 153D approval as void, affecting Emaar MGF Land Ltd’s cases from AY 2010-11 to AY 2015-16.

Delhi ITAT Rules No Tax on Technical Services to AE Without PE in India

June 20, 2024 447 Views 0 comment Print

Read the full text of the Delhi ITAT order on Denso (Thailand) vs ACIT, discussing tax liability for technical services under India-Thailand DTAA, absence of FTS clause, and PE considerations.

Taxability of rental income from letting out of building along with furniture & fixtures

June 19, 2024 1641 Views 0 comment Print

Explore the detailed analysis of the Active Securities Ltd Vs ITO (ITAT Delhi) case regarding the taxation of rental income from letting out buildings and assets. Understand the implications under ‘Income from other sources’ and ‘Income from house property’.

Interest from SBI Investments Ineligible for Section 80P(2)(a)(i) Deduction

June 16, 2024 528 Views 0 comment Print

ITAT Bangalore rules interest income from SBI investments not eligible for deduction under Section 80P. Full analysis of Farmers Coop Society vs ITO case.

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