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ITAT Bangalore

Cost of funds deductible against interest income from co-op & scheduled banks

July 10, 2024 690 Views 0 comment Print

Read the full text of the order by ITAT Bangalore on Mudur Vyavasaya Seva Sahakari Sangha Ltd’s appeal against CIT(A)’s decision. Detailed analysis on eligibility under Section 80P(2)(D).

AO exceeded jurisdiction in verifying demonetisation cash deposit below ₹2.5 lakhs

July 6, 2024 864 Views 0 comment Print

Explore the detailed analysis of the ITAT Bangalore decision in Goworamma Lingappa Manjula Vs ITO. Understand the implications and legal perspectives. Read more.

Unless escaped income exceeds ₹50 lakhs no action beyond 3 years could take place

July 6, 2024 2925 Views 0 comment Print

Explore the ITAT Bangalore’s decision in Lakshmi Multipurpose Co-operative Vs ITO regarding income threshold limits under Section 148 of the Income Tax Act.

No section 271D penalty for Cash receipt if reasonable cause exist

July 4, 2024 1548 Views 0 comment Print

Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cause, detailed analysis and conclusion included.

Payment by Indian Entity to AE Abroad Not ‘FTS’ if No Technical Skill Provided: Bangalore ITAT

July 4, 2024 804 Views 0 comment Print

Learn how ITAT Bangalore ruled in favor of Herbalife India on technical service payments, clarifying FTS under India-USA DTAA. Detailed analysis and full judgment inside.

ITAT allows depreciation on amount paid exceeding net asset value

July 3, 2024 579 Views 0 comment Print

ITAT Bangalore rules in favor of DN Solutions, allowing depreciation claim on excess amount paid over net asset value. Learn about the detailed judgment.

Late Form 67 filing doesn’t invalidate foreign tax credit claim

June 27, 2024 2247 Views 0 comment Print

Explore the detailed analysis of Vinodkumar Lakshmipathi appeal against CIT(A) NFAC regarding foreign tax credit disallowance for AY 2018-19. Understand the implications and legal nuances.

Income Tax Addition cannot Be based Solely on unsubstantiated Loose Slips

June 25, 2024 3156 Views 0 comment Print

The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.

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

June 21, 2024 1242 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 allows section 80P(2)(d) deduction for interest income earned from cooperative banks

June 21, 2024 966 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.

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