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The Latest Breaking News from ITAT

Lady took loan for investment into venture capital fund, claimed Rs 1.49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark ruling

Aishwarya Bachchan won a tax case in ITAT Mumbai. She claimed Rs 1.49 crore interest deduction on a loan taken for Venture Capital Fund investments. The tax department denied this. ITAT ruled in her favour, allowing the deduction. The tribunal cited consistency in accepting similar claims and sufficient proof of…

The Economic Times

I-T dept cracked down on non-profits with a law that didn’t apply. Tribunals kept saying no

I-T dept cracked down on non-profits with a law that didn’t apply. Tribunals kept saying no

Imagine being fined for jumping a red light – on a road where the traffic light was installed only after you drove past. That, in essence, is what India’s Income Tax Department has been doing to dozens of non-profit organisations across the country.

Delhi HC agrees to hear Congress’s plea against tax re-assessment proceedings

Delhi HC agrees to hear Congress’s plea against tax re-assessment proceedings

Delhi High Court lists Congress petition against tax re-assessment for hearing, party faces pressure with bank accounts frozen.

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"...Anndataon ka apmaan has been the strategy of PM Modi": Jairam Ramesh

Congress General Secretary in-charge Communications, Jairam Ramesh on Thursday slammed the Bharatiya Janata Party (BJP) and said that ''Chanda dataon ka samman aur anndataon ka apmaan', has been the strategy of PM Modi. Read further on Dynamite News.

Delhi HC upholds ITAT order in ₹100-crore tax demand case involving Congress party

Delhi High Court upholds ITAT order refusing to stay ₹100 crore tax notice issued to Congress party.

Congress moves Delhi HC seeking stay on IT recovery proceedings

The Indian National Congress (INC) on Monday moved the Delhi High Court seeking a stay on the Income Tax notice for recovery of more than Rs 105 crore as outstanding tax. Read further on Dynamite News:

Delhi HC to hear Congress’ plea in tax recovery case on March 12

Tax penalty case: Congress has earlier said the I-T tribunal order freezing its funds was “an attack on democracy” as it had come ahead of the Lok Sabha elections.

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Tribunal reserves order on Congress plea seeking stay against IT recovery proceedings, freezing bank accounts

Tribunal reserves order on Congress plea seeking stay against IT recovery proceedings, freezing bank accounts

ITAT on Thursday reserved its order on a plea by the Congress party, which has sought a stay against Income Tax Department proceedings of recovery and freezing of their bank accounts. Read further on Dynamite News:

Freezing of Congress accounts by Income Tax department ‘routine procedure’, sources say

Freezing of Congress accounts by Income Tax department ‘routine procedure’, sources say

The Income Tax department’s action, freezing the Congress’ main bank accounts, was part of its “routine procedure” against defaulters, carried out in connection to claims for the tax assessment year 2018-19, according to sources

I-T department freezes Congress bank accounts over 2018-19 returns; appellate tribunal provides partial relief

I-T department freezes Congress bank accounts over 2018-19 returns; appellate tribunal provides partial relief

Income Tax department freezes bank accounts of Indian National Congress and Indian Youth Congress due to delayed tax filing.

Cricket bodies run on business lines, not for education: Supreme Court

Cricket bodies run on business lines, not for education: Supreme Court

NEW DELHI: Holding that cricket associations are run on business lines, the Supreme Court said that the activities of sports bodies, including the Board of Control for Cricket in India (BCCI), cannot fall within the meaning of ‘education’ to claim tax exemption as they spend insignificant amounts of money on…

The Times of India

Madras HC orders notices to Jayalalithaa’s nephew and niece in connection with her income tax and wealth tax liabilities

Madras HC orders notices to Jayalalithaa’s nephew and niece in connection with her income tax and wealth tax liabilities

Issue relates to expenditure of over ₹50 lakh to decorate her foster son V.N. Sudhakaran’s marriage venue, valuation of her jewellery and so on

CTS moves HC against pre-payment to stay outstanding tax demand

CTS moves HC against pre-payment to stay outstanding tax demand

Firm tells court that “excess security” running to a few thousand crore rupees was already lying with the Income Tax Department

Chhattisgarh: New IT Appellate Tribunal office to be opened today

RAIPUR: Union Law Minister Kiren Rijiju inaugurate a new office premises of Income-Tax Appellate Tribunal (ITAT), Raipur Bench at the Central Secretariat Building at Naya Raipur on June 4.

The Times of India

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