Courts have ruled that transfer of leasehold rights is not a supply of services. The key takeaway is that such transactions ...

The Tribunal examined cash deposits made during the demonetisation period and accepted explanations relating to past savings ...

The Tribunal held that notice under Section 148 issued beyond three years is barred when alleged income escapement is below ...

The issue was whether deduction under section 80P could be allowed when the return was filed beyond the due date. The ...

The Tribunal held that once a closing cash balance is disclosed and accepted in a prior year’s scrutiny assessment, it cannot ...

The Court upheld the Tribunal’s view that interest cannot be levied when duty paid is fully creditable to downstream units.

The case examined rejection of registration without affording a proper opportunity of being heard. The Tribunal ruled that ...

ITAT Pune held that deduction under section 80P of the Income Tax Act admissible on interest income received by co-operative society from deposits with co-operative banks and nationalized banks.

The Tribunal ruled that trusts engaged mainly in education, medical aid, and public welfare remain eligible for 80G. Minor worship-related elements do not alter charitable ...

The issue was whether unsecured loans from directors routed through a partnership firm could be treated as unexplained cash credits. The Tribunal held that once identity, creditworthiness, and ...

The issue was whether interest earned from co-operative banks qualifies for deduction under section 80P(2)(d). The Tribunal held that co-operative banks are co-operative societies for this provision, ...

The Assessing Officer assumed that no return of income was filed while recording reasons under section 147. The Tribunal ruled that such factually incorrect reasons vitiate the assumption of ...