Tel. HC: Can’t Discredit Deposition of Pardanashin Lady, Acquittal Overturned in Murder Case  ||  Bom. HC: Robust Mechanism to be Developed for Imposing Costs on Individuals Misusing Judicial Process  ||  Supreme Court: Firm Action to be Taken Even if 0.001% Negligence in NEET –UG 2024 Exam  ||  Meg. HC: In Service Matters, Claim of Additional Increment is Not a Continuing Ground  ||  Bom HC: Can’t Register Similar TM for Drug Treating Similar Ailment But Having Different Composition  ||  Bom HC: Temporary Injunction Granted in Favour of Pidilite in Infringement of Registered Design Suit  ||  Teacher’s Resignation Treated as Voluntary Retirement by Meg. HC, Entitles Her to Pension & Benefits  ||  Bombay HC Permits Slaughtering of Animals For Bakri Eid in Protected Area Around Vishalgad Fort  ||  Ker.HC:While Ordering Maintenance, Magistrate Must Specify Whether it is Provided under CrPC or HAMA  ||  Gujarat High Court Sets Aside Order Which Interfered With Reasoned Arbitration Award    

Search Results for Tag : Income Tax

Notifications & Circulars

Income Tax (11th Amendment) Rules, 2015(07.08.2015)

The Government made amendments to the Income-tax Rules, 1962 with regard to registration of persons, due diligence and maintenance of information; and.....

Tags : income tax rules, registration, persons



CBDT amends Income-tax Rules, 1962(17.08.2015)

The Central Board of Direct Taxes made amendments to the Income-tax Rules, 1962, inserting Rule 126: 'Computation of period of stay in India in certai.....

Tags : Income tax, rule, sea voyage



MAT no longer applicable to foreign companies(24.09.2015)

Government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB of the Income Tax Act, 1961 will not be applicable t.....

Tags : Mat, 115jb, income tax, foreign company



News

Bombay High Court Quashes Income Tax Appellate Tribunal Ruling in Rs 8500 crore Transfer Pricing Case(09.10.2015)

Bombay High Court has quashed and set aside an order of Income Tax Appellate Tribunal, which had ruled that I-T department had powers to raise tax dem.....

Tags : Bombay High Court ,Income Tax Appellate Tribunal,Vodafone India



Income-tax (15th Amendment) Rules, 2015(12.10.2015)

Central Board of Direct Taxes amended the Income-tax Rules, 1962 with the Income-tax (15th Amendment) Rules, 2015. These modify Rule 11DD, substituti.....

Tags : Income tax, rules, amendment, fifteen, 2015



Use of email based communication for paperless Assessment Proceedings(19.10.2015)

Central Board of Direct Taxation has begun a pilot program of using email to correspond with taxpayers. The project is expected to be run in non-corpo.....

Tags : Income tax, pilot, email, correspondence, 2015



Bombay High Court: Eye Treatment Can’t be Considered Professional Expenditure(30.10.2015)

Bombay High Court has said that expenses incurred for getting eyes treated cannot be claimed as a professional deduction under the Income Tax (IT) law.....

Tags : Bombay High Court, Income Tax (IT) law



CBDT Notifies New Income Tax Department Authority to Deal with Black Money Window(18.12.2015)

Central Board of Direct Taxation (CBDT) has notified new Income Tax department authority which will now be empowered to receive due taxes and penalty .....

Tags : Central Board of Direct Taxation, Income Tax department authority, Black Money Window



Draft to determine company’s ‘Place of Effective Management’(23.12.2015)

The Ministry of Finance has released draft guidelines proposing principles to determine the ‘place of effective management’ of a company, for the purp.....

Tags : Income tax, company, effect management, draft, principles



PAN Must for Cash Payment of Hotel Bill over Rs 50,000 from Tomorrow(31.12.2015)

Furnishing PAN has been made mandatory from tomorrow for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000. Department of In.....

Tags : PAN , Department of Income Tax



Income Tax Simplification Committee reveals recommendations(25.01.2016)

The Income Tax Simplification Committee, headed by former Justice R.V. Easwar, has released its first.....

Tags : Income tax, simplification, recommendations



Income Tax Department Issues Guidelines for E-Communication to Tax Payers(05.02.2016)

Government, in order to ease communication with the Income-Tax Department, has allowed tax payers to reply to notices using their registered email add.....

Tags : Income Tax Department , Tax Payers



I-T Clarification on US Tax Law Enforcement(22.02.2016)

Income Tax Department has clarified that all upcoming reporting in May 2016 for purpose of adhering to the US Foreign Account Tax Compliance Act (FATC.....

Tags : Income Tax Department, US Foreign Account Tax Compliance Act



Clarification of 'initial assessment year' in Section 80IA (5) of the IT Act(15.02.2016)

The Central Board of Direct Taxes issued a clarification to the ‘initial assessment year’ for the purposes of Section 80IA(5) of the Income Tax Act, 1.....

Tags : Income tax, initial assessment year, deduction claim



Pay IT dues in advance at RBI or authorised bank branches(15.02.2016)

The Reserve Bank of India has authorized twenty nine agency banks to accept payments of income tax. The move hopes to reduce the heavy rush for remitt.....

Tags : Income tax, payment, agency banks, march



Income-tax (3rd Amendment) Rules, 2016(01.03.2016)

The Central Board of Direct Taxes notified Income-tax (3rd Amendment) Rules, 2016 amending the Income-tax Rules, 1962. The Rules substitute provisions.....

Tags : income tax, appeal, form 35



Income Tax Rules on Fund Manager regime(15.03.2016)

The Central Board of Direct Taxes released the Income-Tax (5th Amendment) Rules, 2016 providing guidelines for the application of Section 9A of the In.....

Tags : Fund manager, offshore, income tax



Interest income to be included in tax return(01.01.1900)

The Central Board of Direct Taxes notified persons earning interest income that interest credited or received on deposits is taxable unless exempt und.....

Tags : Income tax return, interest income, inclusion



Income Tax Dept Notifies New Return Forms for 2016-17 for Wealthy Individuals(01.04.2016)

Income Tax Dept has notified new tax return forms for 2016-17, which require wealthy individuals to mandatorily disclose details about assets like lan.....

Tags : Income Tax Dept , Wealthy Individuals, New Return Forms



Wealth tax return not required 2016-2017 onwards(01.04.2016)

With the Central Government’s recent decision to abolish the wealth tax, the Judgments

Commissioner cannot usurp Department’s plausible view(11.05.2016)

View taken by Assessing Officer, so long as it is a possible view, cannot be interfered by Commissioner under Section 263 of Income Tax Act 1961.
<.....

Tags : Income tax, expenses, further information



Income Tax Department Launches 'E-Nivaran' to Fast Track Taxpayer Grievances(18.05.2016)

Income Tax Department has launched a special electronic grievance redressal system called 'e-nivaran' in order to fast track taxpayer grievances and e.....

Tags : Income Tax Department, e-nivaran



IT dues payable in advance at authorised bank branches(16.05.2016)

Advance income tax can be paid at authorised banks instead of just with the Reserve Bank of India. Of the 29 banks authorised to acceptance tax remitt.....

Tags : Income tax, advance, authorised banks



Paperless tax assessment expanded to Hyderabad and Kolkata(25.05.2016)

Scheme for e-assessment for income tax has been extended to include Hyderabad and Kolkata for Financial Year 2016-2017.

The ‘paperless’ sch.....

Tags : paperless, email, income tax, scrutiny



Four New Forms Under Domestic Black Money Window Notified by Income Tax Department(03.06.2016)

Income Tax department has notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black m.....

Tags : Income Tax Department, Form



CBDT endeavours to reduce litigation over bad debt(30.05.2016)

The Central Board of Direct Taxes bolstered Departmental policies to reduce litigation arising from assessees writing off sums as ‘bad debt’.

.....

Tags : income tax, bad debt, irrecoverable, reducing litigation



Top Story

Claiming time of essence in property sale? Prove it!(16.02.2016)

Bangalore High Court set a high threshold for claims that time was of the essence in a contract for sale of immovable property. Onus, however, was pla.....

Tags : reasonable, time of essence, immovable property, sale, income tax clearance



ITAT Clarifies on Rent Deposits(07.06.2016)

Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has observed that the notional interest on security deposit paid by an employer to the landlord c.....

Tags : Income Tax Appellate Tribunal, ITAT, security deposit



CBDT Notifies Tax Exemption to Startups from 'Rigour' of Section 56(2)(viib) of Income Tax Act(20.06.2016)

Central Board of Direct Taxes (CBDT) has notified tax exemption on investments above fair market rate for startups. The exemption is provided to start.....

Tags : Central Board of Direct Taxes, section 56(2)(viib) of Income Tax Act, startups



Amendment in Rule 114H of Income-tax Rules, 1962(22.06.2016)

Rule 114H of the Income Tax Rules 1962 has been amended to provide sufficient time to reporting financial institutions for completing due diligence in.....

Tags : Income tax rules, reportable accounts, deadline



Compulsory manual selection of cases for scrutiny during FY 2016-17(13.07.2016)

The Central Board of Direct Taxes laid down fresh criteria and procedure for manual selection of returns or cases for compulsory scrutiny during the 2.....

Tags : manual selection, income tax, compulsory scrutiny



CIC: Duly Consider Public Interest While Deciding RTI on ITR(16.08.2016)

Central Information Commission (CIC) has directed Income Tax department to "duly consider the larger public interest" while responding to an RTI requ.....

Tags : Central Information Commission , Income Tax department



New updated Version of Income Tax Return Statistics for Assessment Year 2012-13 released(19.08.2016)

Central Board of Direct Taxes (CBDT) had proactively released data relating to direct tax collections, PAN allocation and distribution of income in th.....

Tags : Statistics, Income Tax Return, updated Version



Government extends due date for filing of Income Tax Returns from 30th September, 2016 to 17th October, 2016(12.09.2016)

The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September o.....

Tags : Income Tax Returns, Filing, Extension of date



Central Information Commission Slams Income Tax ‘Informer’ for Using RTI to Earn Incentives(03.10.2016)

Central Information Commission has admonished a Right to Information (RTI) applicant who was allegedly seeking massive information from the Income Tax.....

Tags : Central Information Commission, RTI, Income Tax Department



Bombay HC Slams I-T Department over Wrong Tax Demand(17.10.2016)

Bombay HC has pulled up Income Tax Department after it found that department had slapped a notice on an individual even though the search and seizure .....

Tags : Bombay HC, Income Tax,



Bombay HC Slams Assessing Officer For Holding Back Company’s Refund(21.10.2016)

Bombay HC has slammed an I-T Assessing Officer for holding back refunds without sufficient reasons of Group M India, world's largest Media Investment .....

Tags : Bombay HC, Income Tax, Assessing Officer, Group M India



Supreme Court Dismisses IT Department’s Appeal Against RCom(23.11.2016)

Supreme Court has dismissed Income Tax (IT) Department’s appeal seeking to tax proceeds of $1.5-billion Foreign Currency Convertible Bonds (FCCBs) iss.....

Tags : Supreme Court, Income Tax, Foreign Currency Convertible Bonds, Reliance Communications



Supreme Court Rules, Income from Palace Rents Not Taxable Under IT Law(06.12.2016)

Supreme Court has held that income earned by erstwhile rulers of a princely state or their heirs by renting out a portion of residential palace was no.....

Tags : Supreme Court, erstwhile rulers, princely state, residential palace, Income Tax



SC: Erstwhile Rulers Need Not Pay Tax On Income From Leasing Palaces(13.12.2016)

Supreme Court has held that Erstwhile rulers are not required to pay tax on income earned by letting out a portion of their residential palace.

Tags : Supreme Court, Erstwhile rulers, residential palace, income tax



Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency(14.12.2016)

Under the existing provisions of Section 139(5) of the Income-tax Act, 1961 ('Act'), Revised Return can only be filed if any person, who has filed a r.....

Tags : Income Tax, Returns, Filing



Supreme Court Rejects Urgent Hearing Pleas on Tax Breaks For Parties(26.12.2016)

Supreme Court has refused to grant an urgent hearing on a PIL challenging Constitutional Validity of income tax exemptions to registered political par.....

Tags : Supreme Court, income tax, political parties



Himachal Pradesh HC Turns Down Virbhadra’s Plea Challenging IT Dept Order(27.12.2016)

Himachal Pradesh High Court has dismissed petitions filed by Chief Minister Virbhadra Singh, his wife Pratibha and son Vikramaditya challenging orders.....

Tags : Himachal Pradesh High Court, Virbhadra Singh, Income Tax



Government Amends Income Tax Rules, Direct Banks to Obtain PAN of A/cs, Except Savings(09.01.2017)

Income Tax rules have been amended to provide that banks shall obtain and link PAN or Form No 60 (where PAN is not available) in all existing bank acc.....

Tags : Income Tax rules, PAN, Form No 60



Supreme Court Seeks Govt Reply Over Vacancies in ITAT(24.01.2017)

Supreme Court has sought Government's response on plea seeking appointment of President and Vice Presidents in different Benches of Income Tax Appella.....

Tags : Supreme Court, Income Tax Appellate Tribunals, Vacancy ,



Madras HC Stays Income Tax Case Against Chidambaram, Family(27.01.2017)

Madras High Court has stayed proceedings initiated by Income Tax Department against former Union Minister P. Chidambaram, his wife and Senior Advocate.....

Tags : Madras High Court, P. Chidambaram, Income Tax



ITAT, Delhi: Propagation of Yoga Qualifies as Medical Relief(21.02.2017)

Delhi bench of Income Tax Appellate Tribunal (ITAT) has granted exemption status under Sections 11 and 12 of the Income Tax Act to Baba Ramdev’s Patan.....

Tags : Income Tax Appellate Tribunal, Patanjali



ITAT Delhi Orders Cairn UK to Pay Rs 10,000 Cr Tax For Transfer of Shares to Cairn India(15.03.2017)

Income Tax Appellate Tribunal, Delhi (ITAT), has ordered UK's Cairn Energy Plc to pay Rs 10,000 crore capital gains tax on transfer of ownership from.....

Tags : Income Tax Appellate Tribunal, Delhi, Cairn India



Supreme Court: Companies Cannot Claim 'Premium' Received on Shares as 'Deduction'(29.03.2017)

Supreme Court has held that premium collected by companies on its subscribed share capital does not come within the ambit of “capital employed in busi.....

Tags : Supreme Court,Income Tax Act, Company



ITAT, Mumbai: Individuals Paying for Residential Houses Will Get Complete Tax Benefits(02.05.2017)

Income Tax Appellate Tribunal (Mumbai bench) has held that if entire investment for purchase of a new residential house, along with stamp duty and reg.....

Tags : Income Tax Appellate Tribunal, Residential Houses



ITAT, Ahmedabad: Salary Deducted For Not Serving Notice Period is Not Taxable Income(03.05.2017)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that an amount deducted from an employee's salary for not serving out a notice period cannot.....

Tags : Income Tax Appellate Tribunal, Notice Period



SC: Word ‘Payable’ In Section 40(A) (ia) of Income Tax Act Also Covers Amount Already 'Paid'(04.05.2017)

Supreme Court has held that though the word used in Section 40(a)(ia) of Income Tax Act, is ‘payable’, it would also cover situations where amount i.....

Tags : Supreme Court, Income Tax Act, Section 40(A) (ia)



Income Tax Department Activates e-filing Facility for All ITRs(05.05.2017)

Income Tax Department has activated e-filing facility for all categories of Income Tax Returns (ITRs) for assessment year 2017-18.

Tags : Income Tax Department, e-filing



Supreme Court: Expenditure Incurred To Earn Dividend Income On Shares Not Deductible(11.05.2017)

Supreme Court has held that Section 14A of Income Tax Act would apply to dividend income on which tax is payable under Section 115-O of Act.

Tags : Supreme Court, Income Tax



Government: Firms Must Disclose Securities Deals Above Rs 10 lakh by May 31(17.05.2017)

Government has asked all companies to disclose shares and bond transactions involving Rs 10 lakh or more in a financial year to Income Tax department .....

Tags : Firms, shares, bonds, income tax



Delhi High Court: 'Financial Capacity' Relevant Factor for Application for Waiver of Interest(23.05.2017)

Delhi High Court, while confirming rejection of an application seeking waiver of interest held that financial capacity of assessee is a relevant facto.....

Tags : Delhi High Court, Income Tax Act



Delhi HC: Document Seized From Broker Cannot be Used as Evidence to Initiate Re-assessment(24.05.2017)

Delhi High Court has held that materials seized from a real estate broker relating to assessee cannot be used as an evidence to initiate re-assessment.....

Tags : Delhi High Court, Re-assessment, Income Tax Act



ITAT, Kolkata: Re-Assessment Without Any ‘Fresh Tangible Materials’ is Bad in Law(24.05.2017)

Kolkata bench of Income Tax Appellate Tribunal has ruled that re-assessment solely based on original assessment records and without any fresh tangible.....

Tags : Kolkata, Income Tax Appellate Tribunal, Re-Assessment



ITAT Mumbai Says 'Sponsoring Foreign Trips of Doctors for Business Promotion is Expenditure'(29.05.2017)

Mumbai ITAT has held that sponsoring foreign trips of doctors for business promotion is allowable as expenditure under provisions of Income Tax Act.

Tags : Mumbai ITAT, foreign trips, Income Tax Act



ITAT, Mumbai: No Income Tax on Gift made by HUF to its Member(29.05.2017)

ITAT, Mumbai has held that Gift given by an HUF to its member is not taxable in hands of member under Income Tax Act since “HUF” can be treated as “re.....

Tags : ITAT, Mumbai, Gift, Income Tax



ITAT,Hyderabad: No Penalty If Assessee Discloses Correct Income During Scrutiny(30.05.2017)

Income Tax Appellate Tribunal (ITAT), Hyderabad has held that penalty under Section 271(1)(c) of Income Tax Act is not leviable in a case where assess.....

Tags : Income Tax Appellate Tribunal (ITAT), Hyderabad



Delhi HC: No Notice Needed to Search & Seize 'Undisclosed Money' Deposited in 3rd Party A/C(31.05.2017)

Delhi High Court held that ‘Undisclosed Money’ deposited in a third parties’ Bank Account can be subject to search and seizure under Income Tax Act ev.....

Tags : Delhi High Court, Undisclosed Money, Income Tax Act



ITAT, Delhi: Commissioner Sanction Not Required for Contribution towards EPF Under EPF Act(31.05.2017)

ITAT Delhi has held that approval by Commissioner of Income Tax is not a mandatory requirement to allow deduction of contribution towards EPF under se.....

Tags : ITAT Delhi, Income Tax Act, Employees provident Fund Act



Allahabad HC Says 'No' to Benefit u/s 80G of IT Act on Mere Fulfillment of Conditions u/s 10(23)(c)(06.06.2017)

Allahabad High Court has held that benefit of Section 80G of Income Tax Act cannot be granted to assessee merely on ground that it satisfies all condi.....

Tags : Allahabad High Court, Income Tax Act



ITAT Kolkata: Shareholding by Subsidiary Co. Irrelevant While Considering ‘Deemed Dividend’ Liability(09.06.2017)

ITAT Kolkata has held that shareholding by Subsidiary Company is irrelevant while considering ‘deemed dividend’ liability of Holding Company under sec.....

Tags : ITAT Kolkata, Income Tax Act



ITAT Hyderabad: Return by Govt Agency Can't be Rejected For Not Furnishing Audit Report(09.06.2017)

Income Tax Appellate Tribunal (ITAT), Hyderabad has held that income tax return filed by a Government agency cannot be rejected by authorities merely .....

Tags : Income Tax Appellate Tribunal, Audit Report



CBDT: Trade Advances cannot be treated as ‘Deemed Dividend’(14.06.2017)

Central Board of Direct Taxes (CBDT) has clarified that trade advances would not attract provisions of “deemed dividend” under provisions of Section 2.....

Tags : Central Board of Direct Taxes, Income Tax Act



ITAT, Bengaluru: No Exemption to Society For Investment in Fixed Asset using Loan Amount(15.06.2017)

ITAT, Bengaluru has held that assessee-society is not entitled to exemption in respect of investment in fixed asset using loan amount under section 11.....

Tags : ITAT, Bengaluru, Income Tax Act



Gujarat High Court: Mere Rejection of a Claim Would Not Attract Penalty Under Income Tax Act(20.06.2017)

Gujarat High Court has held that penalty cannot be levied on assessee solely on ground of rejection of a claim under Income Tax Act, 1961.

Tags : Gujarat High Court, Income Tax Act



CBDT Notifies Rule 10CB for Secondary Adjustments u/s 92CE of IT Act, 1961(21.06.2017)

Central Board of Direct Taxes (CBDT) has notified Rule 10CB for operationalising the provisions of secondary adjustment under Section 92CE of IT Act, .....

Tags : Income Tax



Government: Aadhaar Mandatory for PAN application Form from July 1(29.06.2017)

Income Tax Amendment Rules [Income Tax (17th Amendment) Rules, 2017] which makes quoting Aadhaar mandatory for PAN Application from July-1, has been n.....

Tags : Income Tax Amendment Rules, Aadhaar, PAN



CBDT: Property Advance Above Rs. 20,000 Must be Disclosed in Audit Report(05.07.2017)

Central Board of Direct Taxes (CBDT) has notified that property advance of Rs. 20,000 should be disclosed in audit report u/s 44AB of Income Tax Act.

Tags : Central Board of Direct Taxes, Income Tax Act



Govt: NRIs Not Having Indian Bank Accounts to get Income Tax Refund in Foreign Bank Account(26.07.2017)

Government has said that Income Tax Refunds will be credited to Foreign Bank Account also for Non-Residents who is not having bank account in India.

Tags : Income Tax Refunds



#Income Tax: IT Department Starts Accepting Returns Without Linking PAN-Aadhaar(31.07.2017)

Income Tax department has started accepting returns without linking PAN with Aadhaar Number upto 5 lakhs. This is due to people are facing problems wi.....

Tags : Income Tax, PAN, Aadhar



#Income Tax: Returns Can Now Be Filed Till August 5, Deadline Extended(31.07.2017)

The last date for filing of Income Tax Returns (ITRs) for the financial year 2016-17 has been extended to August 5.

Tags : income tax returns



#Income Tax: PAN-Aadhaar Linkage Can be Done till Aug 31, Not Mandatory for Filing Return Now(01.08.2017)

Central Board of Direct Taxes (CBDT) has clarified that PAN-Aadhaar linkage can be done till August 31st, 2017 and it’s not mandatory for Filing Incom.....

Tags : Income Tax



Bombay High Court: No Addition Can be Made in Respect of Unutilized Cenvat Credit to Closing Stock(04.08.2017)

Bombay High Court, while upholding Tribunal order deleting addition in respect of unutilized Cenvat credit to closing stock, has held that irrespectiv.....

Tags : Bombay High Court, Income Tax Act



SC: Co-operative Societies Engaged in Banking Biz Not Eligible for Deduction u/s 80P of IT Act(16.08.2017)

Supreme Court has ruled that co-operative societies engaged in banking business for public are not eligible for deduction u/s 80P of Income Tax Act, 1.....

Tags : Supreme Court, Income Tax Act



J&K HC: Supplying Audio of Back Ground Sound to a Film Already Shot Amounts to “Manufacture”(16.08.2017)

Jammu & Kashmir High Court has held that activity of supplying audio of back ground sound to film already shot by customers, would amount to manufactu.....

Tags : Jammu & Kashmir High Court, Income Tax Act



Government Prescribes Procedure to Furnish Form 67 to Claim Foreign Tax Credit(26.09.2017)

Central Government has prescribed the procedure to be followed to furnish Form 67 to claim foreign tax credit under the provisions of the Income Tax A.....

Tags : foreign tax credit, Income Tax Act, 1961



ITAT: Interest on Enhanced Compensation Recd. under LA Act Not Subject to Capital Gain Tax(28.09.2017)

Income Tax Appellate Tribunal (ITAT) has held that the interest received on enhanced compensation for land compulsorily acquired under the Land Acquis.....

Tags : Income Tax Appellate Tribunal, Capital Gain, Land Acquisition Act



ITAT: Rent From Hoardings Received by Co-operative Housing Society Taxable as ‘House Property Income’(04.10.2017)

In an important ruling, Ahmadabad bench of ITAT has held that the rent received by a Co-operative housing society by letting out space for hoardings a.....

Tags : ITAT, Income from House Property, Income Tax Act, 1961



Gujarat HC Upholds Vires of Provision Denying Deduction for Payments to Eligible Project or Scheme(04.10.2017)

Gujarat HC has upheld vires of Sub-section 7 of Section 35AC of Income Tax Act according to which benefit of deduction under Section 35AC of Act is no.....

Tags : Gujarat HC, Section 35AC of Income Tax Act



Govt Extends Deadline for Income Tax Audit & Return Filing to Nov 7(01.11.2017)

Central Government has declared that due date for tax audit and return filing under the provisions of Income Tax Act is extended to November 7th. Earl.....

Tags : Government, Income Tax Audit



ITAT, Bangalore: Addition Cannot be Made If Gift is Invalid(06.11.2017)

Income Tax Appellate Tribunal, Bangalore has ruled that if the gift is invalid then no addition can be done in respect of the same under the provision.....

Tags : Income Tax Appellate Tribunal, Bangalore



ITAT Bangalore: No Penalty If Assessee Admitted Income During Search and Paid Tax(07.11.2017)

Income Tax Appellate Tribunal (ITAT), Bangalore held that penalty under Section 271AAA of the Income Tax Act should not be levied if the assessee admi.....

Tags : Income Tax Appellate Tribunal, Section 271AAA of the Income Tax Act



Delhi HC: Assessment Can’t be Re-Opened Merely by Re-Appreciating the Existing Circumstances(08.11.2017)

Delhi High Court while quashing demand against Airtel has observed that re-assessment under Section 147/148 of the Income Tax Act, 1961 cannot be made.....

Tags : Delhi High Court, Income Tax Act, 1961, Airtel



Allahabad High Court Rules that Non-Speculative Business Loss Can be Set off Against Business Income(09.11.2017)

Allahabad HC has ruled that non-speculative business loss can be set off against business income of the assessee under the provisions of the Income Ta.....

Tags : Allahabad HC, Income Tax Act, 1961



Madras High Court: Aadhaar Mandatory for Filing IT Returns(09.11.2017)

Madras HC while rejecting the plea for exemption from quoting Aadhaar number while filing income tax returns has held that the provisions of Section 1.....

Tags : Madras HC, Income Tax Act, aadhaar number, Income Tax Returns



Madras HC Rejects Plea For Filing I-T Return Sans Aadhaar Number, Enrolment ID(10.11.2017)

Madras High Court has refused to allow filing of Income Tax return without producing Aadhaar number and enrolment ID.

Tags : Madras High Court, Income Tax



No TDS Since Roaming Charges Is Not Fee for Technical Services: ITAT, Chennai(07.12.2017)

Income Tax Appellate Tribunal (ITAT), Chennai has held that roaming charges cannot be considered as fee for technical services, hence there is no need.....

Tags : Income Tax



Madras High Court Sets Aside Notices by I-T Dept Against Chidambaram, Family(03.01.2018)

Madras High Court has set aside a batch of notices issued by the Income Tax department against former Union Finance Minister P Chidambaram and his fam.....

Tags : Madras High Court, Income Tax



Tax Arrears of Deceased Assessee Can’t be Recovered Out of Wife's Personal Property: Gujarat HC(23.01.2018)

Gujarat High Court has said that Tax Arrears of a deceased assessee cannot be recovered out of the personal properties of wife.

Tags : Gujarat High Court, Income Tax



Supreme Court: Rule 8D of Income Tax Rules Prospective in Operation(05.02.2018)

Supreme Court has affirmed a Bombay High Court judgment holding that Rule 8D of Income Tax Rules is prospective in operation and could not have been a.....

Tags : Supreme Court, Income Tax



Interest Income from Capital Gains Bonds is Taxable as ‘Other Income’: ITAT Mumbai(07.02.2018)

Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that interest income earned from capital gains bonds would be taxable under the head oth.....

Tags : Income Tax Appellate Tribunal



Supreme Court Denies Relief to Suspended Senior IT Official in DA Case(15.02.2018)

Supreme Court has refused to interfere with the time frame fixed by the Uttarakhand High Court for disposal of a disproportionate asset case against a.....

Tags : Supreme Court, Income Tax



Deduction U/S 80-IB is Permissible Even If Construction is Not Acc. to Approved Plan: Bombay HC(15.02.2018)

Bombay High Court has held that the deduction under section 80-IB is available to the assessee-Builder, even if the construction is not according to t.....

Tags : Bombay High Court, Builder, Income Tax



Receipt from Compulsory Acquisition of Agricultural Land is Not Taxable: ITAT, Raipur(20.02.2018)

Raipur bench of Income Tax Appellate Tribunal (ITAT) has proclaimed that capital gain arising out of sale of agricultural land under compulsory acquis.....

Tags : Income Tax, Acquisition



Sales Tax Subsidy is Capital Receipt, Not Taxable: ITAT, Kolkata(20.02.2018)

Kolkata bench of Income Tax Appellate Tribunal has held that sales tax subsidy is capital receipt and it is not taxable.

Tags : Income Tax, Sales Tax



Voluntary Surrender of Income Without Disclosing Its’ Source Would Not Avoid Penalty: Delhi HC(22.02.2018)

Delhi High Court has held that voluntary surrender of income without disclosing its source cannot rescue assessee from facing penal consequences under.....

Tags : Delhi High Court, Income Tax



Voluntary Surrender of Income Without Disclosing Its’ Source Would Not Avoid Penalty: Delhi HC(22.02.2018)

Delhi High Court has held that voluntary surrender of income without disclosing its source cannot rescue assessee from facing penal consequences under.....

Tags : Delhi High Court, Income Tax



No TDS Liability Since Commission to Foreign Agent is Not Subject to Income Tax in India: ITAT(06.03.2018)

Kolkata bench of Income Tax Appellate Tribunal (ITAT) has ruled that there is no Tax Deducted at Source ( TDS ) liability in the hands of the Assesse.....

Tags : Income Tax



Salaried Persons Not Required to Maintain Books of Accounts: ITAT, Kolkata(07.03.2018)

Kolkata bench of ITAT has ruled that a salaried person is not required to maintain books of accounts unless he is engaged in business or profession.

Tags : Income Tax



SC Grants Exemption to Persons Donating Money for Construction of Specified Hospital(14.03.2018)

Supreme Court has held that persons who want to donate money for construction of the specified hospital by the petitioner, Prashanti Medical Services .....

Tags : Supreme Court, Income Tax



CIT Has No Power to Cancel or Withdraw 12A Registration: Supreme Court(15.03.2018)

Supreme Court has held that the Commissioner of Income Tax (CIT) has no power to cancel or withdraw or recall the registration certificate granted und.....

Tags : Supreme Court, Income Tax



Supreme Court: Entire Interest Outgo on Borrowings Cannot be Treated as Expenditure(19.03.2018)

Supreme Court has partly upheld the tax department’s view that investors, be it companies or individuals, cannot take double advantage: first, avoid t.....

Tags : Supreme Court, Income Tax



Madras High Court Quashes I-T Order Against Kalanithi Maran(29.03.2018)

Madras High Court has set aside an order of the income tax department declaring him as the principal officer of Spicejet Ltd, thereby making him liabl.....

Tags : Madras High Court, Income Tax



CBDT notifies Income Tax Return Forms for Assessment Year 2018-2019(05.04.2018)

The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18.....

Tags : CBDT, Forms, Income tax



Delhi High Court: Allow Lawyers to File I-T Return Sans Aadhaar(10.04.2018)

Delhi High Court has ordered the Income Tax Department to allow lawyers to file tax returns without their details of Aadhaar card.

Tags : Delhi High Court, Income Tax



Govt. Amends Income Tax Rules, Inserts New Column for Transgenders in PAN Application Form(10.04.2018)

Central Board of Direct Taxes (CBDT) has introduced a new column for Transgenders in PAN Application Form i.e., Form 49A and Form 49AA by amending the.....

Tags : Income Tax, PAN



Govt Amends Income Tax Rules, Withdraws Exemption of Transport Allowance of Rs. 1,600 pm(10.04.2018)

Central Board of Direct Taxes (CBDT) has notified the Income Tax (Third Amendment) Rules, 2018 wherein the Government has withdrawn the exemption of T.....

Tags : Income Tax, Transport Allowance



Exemption Under IT Act Available Only to Institutions That Impart Education: Uttarakhand HC(13.04.2018)

Uttarakhand High Court has held that education institutions can avail exemption under Section 10(23C) (vi) of the Income Tax Act only if they exist so.....

Tags : Uttarakhand High Court, Income Tax Act



New Income Tax Return Form for Salaried Class Available in Portal: IT Dept(19.04.2018)

Income Tax Department has said that the latest ITR-1 form, largely used by the salaried tax payers is now available in the official portal for e-filin.....

Tags : Income Tax



Imposing Tax on Un-Communicated Proposal Amounts to Natural Justice Violation: Madras HC(21.05.2018)

Madras High Court has ruled that imposing a tax on proposals that are uncommunicated to the Assessee shall amount to the violation of the principles o.....

Tags : Madras High Court, Income Tax



SC: Exemption Claimed u/s 80-IB Won't be Taken into Count While Availing Benefits u/s 80-IC(23.05.2018)

Supreme Court has held that the periods for which deductions were availed earlier by an assessee u/s 80-IA and S. 80-IB of Income Tax Act would not be.....

Tags : Supreme Court, Income Tax



Angel Investments in Small Start-ups Get Tax Exemption(28.05.2018)

Income Tax Department has exempted from tax the investments that small start-ups receive from angel investors above their fair valuation.

Tags : Income Tax Department, Start-ups



ITAT, Mumbai: Taxpayers Can Change ‘Self-occupied’ House to Cut Tax Outgo(08.06.2018)

Mumbai bench of Income Tax Appellate Tribunal (ITAT) has upheld the right of a taxpayer to change his selection of a house property that would be trea.....

Tags : Income Tax, House Property



Interest-free Loan from Employer Taxable: ITAT, Mumbai(13.06.2018)

Income Tax Appellate Tribunal, Mumbai (ITAT) has said that interest-free loans extended by an employer are taxable in the hands of an employee as a pe.....

Tags : Income Tax, Loan



Prior Notice Must for Initiating Reassessment Proceeding: ITAT, Amritsar(20.06.2018)

ITAT Amritsar held that notice under Section 148 or 142(1) of the Income Tax Act which is served upon the deceased assessee or his sole legal heir is .....

Tags : Income Tax Department, Notice



Bank Not Liable to Deduct TDS from Interest Paid to Noida Authority: ITAT, Delhi(20.06.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that Axis bank is not liable to deduct TDS from the interest paid or credited to Noida Au.....

Tags : Income Tax, TDS



Penalty Notice u/s 274 Should Specify Grounds: ITAT, Delhi(25.06.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that there is no justification imposing the penalty without mentioning the grounds specif.....

Tags : Income Tax, Notice



No Deduction for Acquiring Distribution Rights of Films If It is Not Commercially Exploited: KHC(04.07.2018)

Kerala High Court has held no deduction under Rule 9B of Income Tax Rules, 1962 is allowed in absence of commercial exploitation of feature films.

Tags : Kerala High Court, Income Tax



Property Tax Paid in Respect of Leased Property is Allowable as Expenditure: ITAT(09.07.2018)

Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that tenant is eligible for deduction in respect of the amount of property tax paid on le.....

Tags : Income Tax, Lease, Property



Payments Made for Air Freight Not Taxable in India: ITAT, Delhi(09.07.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that payments made for Air Freight by the assessee (company) to such airline companies or.....

Tags : Income Tax, Air Freight



Tax Defaulters Need Not Apprehend Immediate Arrest on Issuance of Show Cause Notice: Karnataka HC(09.07.2018)

Karnataka High Court has observed that there need not be any apprehension of immediate arrest or detention in civil prison on issuance of a show cause.....

Tags : Karnataka High Court, Income Tax



Assessment Merely Based on Statements Recorded by CBI is Invaild: ITAT(10.07.2018)

Bengaluru bench of Income Tax Appellate Tribunal has held that additions made merely on the basis of statements recorded by the CBI is not valid .

Tags : Income Tax, CBI



Honorarium Paid to Chairman of Govt Company is Business Expenditure: ITAT(13.07.2018)

Delhi bench of Income Tax Appellate Tribunal in has held that honorarium paid to Chairman of a Government Company is allowable as business expenditure.....

Tags : Income Tax, Business Expenditure



Mushroom is An ‘Agricultural Product’, No Tax on its Production: ITAT(17.07.2018)

Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that the income from production and sale of Mushroom can be termed as ‘agricultural i.....

Tags : Income Tax



Wrong Name in Assessment Order Can’t be Cured by Invoking Section 292B: ITAT(19.07.2018)

Income Tax Appellate Tribunal (ITAT) held that mentioning of wrong name in an assessment order cannot be cured by invoking Section 292B of Income Tax .....

Tags : Income Tax Appellate Tribunal, Section 292B of Income Tax Act, 1961



Financial Crisis is a ‘Reasonable Cause’ for Delayed Deposit of TDS: ITAT(19.07.2018)

Income Tax Appellate Tribunal (ITAT) held that financial crisis can be a reasonable cause for not depositing the TDS amount with the Government accoun.....

Tags : Income Tax Appellate Tribunal, Section 273B of IT Act



No Due Date Extension for Income Tax Return Filing: CBDT(23.07.2018)

Central Board of Direct Taxes (CBDT) has clarified that the due date for filing Income Tax Return shall not be extended beyond 31st July, 2018.

Tags : Income Tax



Assessee Has to Prove Tax Exemption: Supreme Court(31.07.2018)

Supreme Court has held that onus of proving a tax exemption where the guidelines aren’t clear would be on the assessee, and he cannot claim the benefi.....

Tags : Supreme Court, Income Tax



Gujarat High Court Allows ITR Filing Sans Aadhaar(07.08.2018)

Gujarat High Court has allowed a man to file his income tax return (ITR) manually instead of doing it online which requires linkage to Aadhaar card, a.....

Tags : Gujarat High Court, Aadhaar, Income Tax



Payment of Tax Before Issue of SCN Not a Bar to Impose Penalty: Delhi High Court(08.08.2018)

Delhi High Court has held that the payment of tax amount before the issuance of show cause notice would not absolve the assessee from imposing penalty.....

Tags : Delhi High Court, Income Tax



Madras High Court: Depreciation Allowable on Non-Competent Fee and Brand Equity(14.08.2018)

Madras High Court has held that depreciation under Section 32 of Income Tax Act, 1961 is allowable on the non-competent fee and brand equity.

Tags : Madras High Court, Income Tax



No Tax Benefit to Industry If It Has No Control Over Manufacturing Process: Bombay HC(14.08.2018)

Bombay High Court has held that benefit of deduction under section 80-IB of Income Tax Act, 1961 cannot be given to an industry if it does not have an.....

Tags : Bombay High Court, Income Tax



Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)

Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....

Tags : Bombay High Court, Income Tax



Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)

Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....

Tags : Bombay High Court, Income Tax



Supreme Court Fines Income Tax Department Rs 10 Lakh for 'Misleading' It(29.08.2018)

Supreme Court has imposed a fine of Rs 10 lakh on the Income Tax department for reportedly trying to mislead it.

Tags : Supreme Court, Income Tax



Income Tax Dept Cautions Taxpayers to File Returns by 31st August, 2018(30.08.2018)

Income Tax Department has advised the taxpayers to file income tax returns by the deadline of 31st August 2018, the last date for persons whose accoun.....

Tags : Income Tax



Govt. Extends Date for Filing of Income Tax Returns for Taxpayers in Kerala(30.08.2018)

Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for al.....

Tags : Income Tax



Late Fee Can’t be Levied While Processing TDS Statement: ITAT, Cuttack(31.08.2018)

Income Tax Appellate Tribunal (ITAT), Cuttack has held that the late fee under Section 234E of the Income Tax Act cannot be levied while processing th.....

Tags : Income Tax, TDS



CBDT Notifies Income Tax Exemption to Press Trust of India(06.09.2018)

Central Board of Direct Taxes (CBDT) has notified Income Tax Exemption to Press Trust of India.

Tags : Income Tax, Press Trust of India



CBDT Notifies Rules to Determine Fair Market Value of Inventories Converted to Capital Asset(06.09.2018)

Central Board of Direct Taxes (CBDT) has notified the rules relating to the determination of Fair Market Value of inventories converted into capital a.....

Tags : Income Tax, Market Value



No Penalty Since Assessee Surrenders Income During Assessment Proceedings: ITAT(18.09.2018)

Delhi Bench of ITAT has held that penalty under Section 271AAA of Income Tax Act, 1961 cannot be levied if assessee surrendered the income during the .....

Tags : ITAT, Income Tax, Surrender of income



Re-Assessment Can’t Be Done Merely Because Some Aspects of Deduction Claim Not Examined: Gujarat HC(26.09.2018)

Gujarat High Court has held that Re-Assessment under Section 147/ 148 of the Income Tax Act, 1961 cannot be re-opened merely on the ground that some a.....

Tags : Gujarat High Court, Assessment, Income Tax



CBDT Extends Due Date for Filing Income Tax Returns and Audit Reports to Oct 31st(09.10.2018)

Central Board of Direct Taxes (CBDT) has further extended due date for filing Income Tax Returns and Audit Reports to October 31st.

Tags : CBDT, Income Tax Returns



CBDT further extends date for filing Income Tax Returns and Audit Reports(08.10.2018)

The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-2019 is 30th September, 2018 for certain categories of taxpay.....

Tags : Income Tax Returns, Date, Extension



Company can Claim Income Tax Credits on Maintenance of Guest House, Training Hostels: AAR(16.10.2018)

Authority for Advance Ruling, Odisha has granted a ruling on entitlement to take credit of tax paid on various goods and services used for maintenance.....

Tags : AAR, Income Tax Credits



No Income Tax Deduction to Law Firm for Expenses Incurred for Pleasure Tour by Counsels: ITAT(08.01.2019)

Income Tax Appellate Tribunal (ITAT), Delhi, has held that no income tax deduction can be given to the law firm, Luthra & Luthra, for the expenses inc.....

Tags : ITAT, Income Tax Deduction to Law Firm,Pleasure Tour by Counsels



CIVIL - SC Sets Aside Bombay HC Order Penalising Senior Tax Official(08.03.2019)

Supreme Court has set aside an order by Bombay High Court that had imposed a fine on Deputy Commissioner of Income Tax (Mumbai) and made adversarial r.....

Tags : Supreme Court, Deputy Commissioner of Income Tax (Mumbai)



DIRECT TAXATION - SC Sets Aside Bombay HC Order Penalising Senior Tax Official(08.03.2019)

Supreme Court has set aside an order by Bombay High Court that had imposed a fine on Deputy Commissioner of Income Tax (Mumbai) and made adversarial r.....

Tags : Supreme Court, Deputy Commissioner of Income Tax (Mumbai)



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



DIRECT TAXATION - Bombay HC Grants Tax Relief to Karan Johar's Dharma Productions(26.03.2019)

Bombay High Court has granted tax relief to Karan Johar who heads Dharma Production by dismissing the appeal filed by the Income Tax department which .....

Tags : Bombay High Court, Karan Johar, Income Tax department



DIRECT TAXATION - Addition for Unexplained Share Capital and Share Premium Can’t be Made Prior to 2013 Amendment: ITAT(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that addition in respect of share capital and premium by treating the same as unexplained cannot be made.....

Tags : Income Tax Appellate Tribunal, ITAT, Income Tax Act, 1961



DIRECT TAXATION - ITAT Rejects Fake Claim for Deduction of Rent Paid to Mother as Same Was an Afterthought(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has disallowed a fake claim for deduction because it was established that the rent paid to mother was nothing, bu.....

Tags : Income Tax Appellate Tribunal, ITAT, Rent Deduction, false claim



DIRECT TAXATION - Delay in Statutory Audit is Reasonable Cause for Delayed Filing of Tax Audit Report: ITAT(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that the delay in completion of statutory audit can be a reasonable cause for delay in filing of the tax.....

Tags : Income Tax Appellate Tribunal, ITAT, statutory audit, tax audit report



DIRECT TAXATION - Manufacture of Herbal Products Eligible for IT Deduction: Madras HC(28.03.2019)

Madras High Court has held that manufacture of the herbal products would be eligible for deduction under Section 80IA of the Income Tax Act, 1961.

Tags : Madras HC, 80IA of the Income Tax Act, 1961



DIRECT TAXATION - ITAT: Mere Suspicion that Expenditure is for Non-Business Purposes Can’t be a Ground for Addition(28.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that addition cannot be made merely on the ground that the expenditure is for non-business purposes.

Tags : Income Tax Appellate Tribunal, ITAT



Section 50C can’t be Applied When Property Sold Under Pressure: ITAT(05.04.2019)

Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the provisions of Section 50C of the Income Tax Act, 1961 cannot be applied when the.....

Tags : ITAT, Chennai Bench, Section 50 C Income Tax Act



CBDT Notifies Income Tax Return Forms for AY 2019-20(05.04.2019)

Central Board of Direct Taxes (CBDT) has notified the income tax return forms for the Assessment Year 2019-20.

Tags : CBDT, Income Tax Return Forms, AY 2019-2020



IT Law Doesn’t Bar Partners to Draw Remuneration from More than One Firms: ITAT(15.04.2019)

Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the income tax law does not prohibit a partner from drawing remuneration/ salary fro.....

Tags : Income Tax Appellate Tribunal, Remuneration, Partnership Firm



Income Tax Re-Assessment Notice to a Dead Person is Invalid: Bombay HC(23.04.2019)

Bombay High Court has held that income tax notice sent in the name of a dead person is invalid though the information regarding the death was not give.....

Tags : Bombay High Court, Income Tax Re-Assessment Notice, Dead Person



Bombay HC to CBDT: Reconsider Its Proposal to Incentivise CIT (A) to Enhance Assessments(25.04.2019)

Bombay High Court has asked Central Board of Direct Taxes ( CBDT ) to reconsider its decision to incentivize the Commissioner of Income Tax (Appeals) .....

Tags : Central Board of Direct Taxes , Bombay High Court, Commissioner of Income Tax (Appeals)



ITAT: Purchase of Land before Sale of Capital Asset ineligible for Deduction(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax Act, 1961 cannot be availed in case o.....

Tags : Income Tax Appellate Tribunal, Section 54, Income Tax Act, 1961



ITAT: Revisional Jurisdiction Can’t be Exercised on Issue not Covered in Re-Assessment(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that Commissioner of Income Tax cannot invoke revisional jurisdiction under Section 263 of Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, Section 263, Income Tax Act, 1961



ITAT: Mistake Committed by Advocate is Reasonable Cause for Condonation of Delay(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that the mistake committed by Advocate is a reasonable cause for condonation of delay in filing appeals.

Tags : Income Tax Appellate Tribunal, condonation of delay



E-filing of Income Tax Returns registers an increase of 19%(06.05.2019)

There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns(ITR) e-filed during Financial Year(F.Y.) 2018.....

Tags : E-filing, Income Tax, Returns



Kerala High Court Rejects Plea by Income Tax Officer Charged for Leaking Informant's Identity(30.05.2019)

Kerala High Court has refused to quash the disciplinary proceedings initiated against an Income Tax officer for allegedly leaking the identity of an i.....

Tags : Kerala High Court, Income Tax Officer



Income Tax Department Extends Deadline for Employers to Issue Form 16 and Form 24Q(05.06.2019)

Income Tax Department has extended the deadline for employers to issue Form 16 TDS certificate for financial year 2018-19 to its employees till July 1.....

Tags : Income Tax Department, Form 16, Form 24Q



Kerala High Court Rejects Income Tax Officers Request to Nullify Misconduct Proceedings(18.06.2019)

Kerala High Court has rejected a petition by the Commissioner of Income Tax (Appeals) wherein the officer pleaded to vacate the order of the Ernakulam.....

Tags : Kerala High Court, Income Tax Officers



ITAT, Jaipur: Defect in Notice would invalidate Penalty Proceedings(26.06.2019)

Income Tax Appellate Tribunal (ITAT), Jaipur Bench has held that the defect in the notice issued by the income tax department would nullify the entire.....

Tags : Income Tax Appellate Tribunal, Invalidation of penalty proceedings



Union Budget, 2019 – Income Tax Rate Increases(05.07.2019)

Union Finance Minister Nirmala Sitharaman has increased the income tax rate to 3 % for those earning Rs 2 to 5 crore and to 7 % for those above Rs 5 c.....

Tags : Union Budget 2019, Income Tax Rate



Union Budget, 2019: No Change in Income Tax Slabs(05.07.2019)

Union Finance Minister Nirmala Sitharaman has informed there is no change in the income tax slabs being followed currently.

Tags : Union Budget 2019, Income Tax



Income Tax Return Deadline for Financial Year 2018-19 Extended to August 31(24.07.2019)

Ministry of Finance has extended the deadline for filing income tax return for Financial Year 018-19 by individuals to August 31, 2019 from July 31, 2.....

Tags : Income Tax Return, Deadline



Bombay High Court: Interest from Motor Accident Compensation not Subject to Income Tax(12.08.2019)

Bombay High Court has ruled that the income tax should not have been deducted from the interest on the motor accident compensation awarded by the cour.....

Tags : Bombay High Court, Income Tax



Government Notifies E-Assessment Scheme 2019 for Faceless Scrutiny of Income Tax Return(16.09.2019)

Central Government has notified that the E-assessment Scheme, 2019 that aims to completely eliminate the interactions between the tax authorities and .....

Tags : E-Assessment Scheme 2019, Income Tax Return



CBDT Extends Deadline for Filing of Income Tax Returns for J&K and Ladakh(26.12.2019)

Central Board of Direct Taxes has again extended the deadline for filing of all kinds of income tax returns to January 31, 2020, in the newly-created .....

Tags : CBDT, Income Tax Returns



CBDT Extends Deadline for Compounding of Income Tax Offences(06.01.2020)

Central Board of Direct Taxes has extended the last date for taxpayers to avail a “one- time” facility to apply for compounding of income tax offences.....

Tags : CBDT, Income Tax Offences



Central Board of Direct Taxes Notifies Changes in Income Tax Return Forms(06.01.2020)

Central Board of Direct Taxes has notified changes in Income Tax Returns Forms whereby individual taxpayers owning house property in joint ownership a.....

Tags : Central Board of Direct Taxes, Income Tax Return Forms



Income Tax Appellate Tribunal, Bangalore: Delay in Furnishing Audit Reports is Mere Technical Breach(09.01.2020)

Income Tax Appellate Tribunal, Bangalore has held that the delay in furnishing audit reports results only in the technical venial breach which does no.....

Tags : Income Tax Appellate Tribunal, Audit Reports



ITAT Delhi: Exemption to Agricultural Lands Bought not for Business Purposes Allowed(17.01.2020)

Income Tax Appellate Tribunal, Delhi has allowed exemption on agricultural lands bought without an intention to purchase the land for any business pur.....

Tags : Income Tax Appellate Tribunal, Exemption on Agricultural Lands



ITAT: Normal Business Advances Not in Nature of ‘Loan’ are Not Deemed Dividend(21.01.2020)

Income Tax Appellate Tribunal, Delhi has held that the transaction where advance is received in the normal course of business and which is not taken a.....

Tags : Income Tax Appellate Tribunal, Business Advances, Deemed Dividend



ITAT Erases Addition by TPO on Transaction of Rendering Marketing Services of Channel Placement Right(23.01.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has deleted the addition by Transfer Pricing Officer on the ground that the transaction of rendering mark.....

Tags : Income Tax Appellate Tribunal, Addition on Transaction of Rendering Marketing Services



ITAT Mumbai Allows Depreciation on Goodwill Resulting from Acquisition of Business Unit(28.01.2020)

Income Tax Appellate Tribunal (ITAT) Mumbai has allowed depreciation on goodwill resulting from the acquisition of Business Unit of Lee & Muirhead Pvt.....

Tags : Income Tax Appellate Tribunal, Depreciation on Goodwill



ITAT Cuttack: Non-Availability of PAN of Deductee Cannot be Used to Escape from Filing TDS(28.01.2020)

Income Tax Appellate Tribunal (ITAT), Cuttack has held that the non-availability of a Permanent Account Number (PAN) of the deductee is not an excuse .....

Tags : Income Tax Appellate Tribunal, Non- Availability of PAN, Filing of TDS



ITAT, Pune Allows Claim for Set-off of Loss by Husband Invested in Wife’s Business(30.01.2020)

Income Tax Appellate Tribunal, Pune has held that the wife’s separate income can be clubbed into husbands total income and in the case of any loss inc.....

Tags : Income Tax Appellate Tribunal, Clubbing of Husband and Wife's Incomes



ITAT, Mumbai: Dividend Derived from Shares Held as Stock in Trade Cannot be Disallowed(31.01.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the dividend which is derived from the Shares which are ‘stock in shares’ will not be compu.....

Tags : Income Tax Appellate Tribunal, Dividend Derived from Shares Held as Stock in Trade



ITAT, Delhi: No TDS on Payment of External Development Charges Not Made Out of Statutory Liability(31.01.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Assessee is not required to deduct Tax Deducted at Source (TDS) as the payment of Extern.....

Tags : Income Tax Appellate Tribunal, TDS on Payment of External Development Charges



#Union Budget 2020-2021: Simplied Personal Income Tax Regime Introduced(01.02.2020)

Central Government has introduced a new simplified personal income tax regime. The same is as follows (i)Individual to pay tax 10% for income Rs. 5 to.....

Tags : Union Budget, Personal Income Tax Regime



ITAT, Bangalore: Capital Gain Deduction Allowable for House Purchased Outside India(05.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed a claim of deduction under Section 54/54F of the Income Tax Act, 1961 on a house purchased.....

Tags : Income Tax Appellate Tribunal, Capital Gain Deduction on House Purchased Outside India



ITAT, Bangalore: No Disallowance of Interest Expenses on Account of Non-Deduction of TDS(12.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that there should be no disallowance of interest expenses on account of non- deduction of Tax.....

Tags : Income Tax Appellate Tribunal, No Disallowance of Interest Expenses



ITAT, Chennai Disallows Deduction Claim on Receipts from Carbon Credit(12.02.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the receipts from the sale of the carbon credit are liable to be treated as the capital re.....

Tags : Income Tax Appellate Tribunal, Deduction Claim on Receipts from Carbon Credit



ITAT, Kolkata Quashes Re-Assessment Proceedings Against Price Waterhouse & Co.(13.02.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has quashed the re-assessment proceedings against Price Waterhouse & Co. and held that to reopen the ass.....

Tags : Income Tax Appellate Tribunal, Re-Assessment Proceedings Against Price Waterhouse & Co.



ITAT, Delhi: Pre-Operative Expenses Cannot be Allowed as Business Expense(14.02.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the expenses which are incurred before the operation of a company are called preoperative ex.....

Tags : Income Tax Appellate Tribunal, Pre-Operative Expenses



ITAT, Ahmedabad: Letting Out of Property and Furniture for Film Exhibition is Business Activity(14.02.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the income received from Film Exhibition Business that has been leased out to another pa.....

Tags : Income Tax Appellate Tribunal, Letting Out of Property and Furniture for Film Exhibition



ITAT, Cochin: Financial Crisis and Labour Unrest Sufficient Reasons to Condone Delay in Filing Appeal(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Cochin has held that the reasons such as financial crisis and labour unrest are enough grounds for condoning the.....

Tags : Income Tax Appellate Tribunal, Condone Delay in Filing Appeal



ITAT, Bangalore: Royal Challengers Eligible for Tax Deduction for Contribution(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed tax deduction to Royal Challengers Sports Pvt. Ltd. on its contribution of Rs. 15 Crores t.....

Tags : Income Tax Appellate Tribunal, Tax Deduction for Contribution, Royal Challengers



Telangana High Court: Summoning Income Tax Returns Does Not Violate Right to Privacy(18.02.2020)

Telangana High Court has held that a direction to produce income tax returns in Court will not violate the right to privacy under Article 21 of the Co.....

Tags : Telangana High Court, Summoning Income Tax Returns



ITAT, Delhi: License Fee Paid to Indian Railway Allowable as Depreciation(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that depreciation under section 32 of the Income Tax Act, 1961 is allowable in respect of the amo.....

Tags : Income Tax Appellate Tribunal, License Fee Paid to Indian Railway



ITAT, Ahmedabad Imposes Penalty on Assessee for Delay in Filing Appeal and Non-Appearance(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has imposed a penalty of Rs. 5000 on an Assessee on the grounds of a delay of 358 days in filing an ap.....

Tags : Income Tax Appellate Tribunal, Penalty on Assessee for Delay in Filing Appeal



ITAT, Pune: License Fees for Use of Industrial Parks Assessable as ‘Business Income’(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Pune has recently held that the license fees received for the use of Industrial Parks should be assessed as busi.....

Tags : Income Tax Appellate Tribunal, License Fees for Use of Industrial Parks



ITAT, Bangalore: Belated Payment of Service Tax Collected Can be Allowed on Actual Payment(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that belated paid service tax collected to Government exchequer can be allowed on actual paym.....

Tags : Income Tax Appellate Tribunal, Belated Payment of Service Tax



ITAT, Mumbai: Penalty Cannot be Levied for Genuine Omissions in Income Tax Returns(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that genuine omissions must be excluded from the levy of penalty under Section 271 (1) (a) of th.....

Tags : Income Tax Appellate Tribunal, Genuine Omissions in Income Tax Returns



ITAT, Bangalore Extends Stay Period for Google India Due to Delay in Disposal of Appeal(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted an extension of stay period to Google India citing a reason for the delay in non-disposal .....

Tags : Income Tax Appellate Tribunal, Google India



ITAT, Mumbai: Society Imparting Training to State Govt. Employees Eligible for Tax Exemption(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the society formed to impart training to the State Government employees is eligible for inc.....

Tags : Income Tax Appellate Tribunal, Society Imparting Training to State Govt. Employees



Madras High Court: E- Assessments Alone by Income Tax Department Can Lead to Erroneous Assessments(24.02.2020)

Madras High Court has stated that the e-proceedings facility provided by the income tax department from 2017-18 can lead to erroneous assessments as o.....

Tags : Madras High Court, E- Assessments by Income Tax Department



ITAT, Mumbai: Interest on Investments in Co-operative Bank Eligible for Deduction(24.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest income earned by a co-operative society on its investments held with a co-oper.....

Tags : Income Tax Appellate Tribunal, Interest on Investments in Co-operative Bank



ITAT, Bangalore: Reimbursement of Vehicle Expenses by Cab Owners Not Subject to TDS(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payments made by the cab owners which are in the nature of reimbursement of vehicle .....

Tags : Income Tax Appellate Tribunal, Reimbursement of Vehicle Expenses by Cab Owners



ITAT, Chennai: Wife Eligible for Capital Gain Deduction Towards House Purchased in Husband’s Name(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the wife is eligible for deduction under Section 54 of the Income Tax Act, 1961 for the in.....

Tags : Income Tax Appellate Tribunal, Wife Eligible for Capital Gain Deduction



ITAT, Mumbai: Income From Cloud Hosting Services not Taxable Under ‘Royalty’(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that, Income from Cloud Hosting Services not Taxable under the head ‘Royalty’ within the meanin.....

Tags : Income Tax Appellate Tribunal, Income From Cloud Hosting Services



ITAT, Bangalore: Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted relief to Cafe Coffee Day and held that foreign exchange loss due to the reinstatement of .....

Tags : Income Tax Appellate Tribunal, Foreign Exchange Loss on Repayment of Borrowings



ITAT, Ahmedabad: Deduction on Legal and Professional Fees Incurred to Improve Day to Day Working(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that general deduction on Legal and Professional Fees incurred for the improvement of day to .....

Tags : Income Tax Appellate Tribunal, Deduction on Legal and Professional Fees



ITAT, Ahmedabad: Expenses on Interest Payment on Loans Not Added While Computing Book Profit(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that expenses on account of interest payment on loans could not be added while computing book.....

Tags : Income Tax Appellate Tribunal, Computing Book Profit



ITAT, Pune: Stamp Value Would be Full Consideration Only if Payment Made Through Bank(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune has observed that the stamp value on the date of agreement to sell shall be considered as full value of con.....

Tags : Income Tax Appellate Tribunal, Stamp Value



ITAT, Bangalore Deletes Penalty on TDS Default by SBI on LTC Payments(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has deleted the penalty proceedings initiated by the tax department against the State bank of India ( .....

Tags : Income Tax Appellate Tribunal, Penalty on TDS Default by SBI



ITAT, Chandigarh: Cancellation of Registration to Society Cannot be Ground for Imposing Penalty(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Chandigarh has held that penalty under Section 271(1) (a) of the Income Tax Act, 1961 cannot be levied on a char.....

Tags : Income Tax Appellate Tribunal, Cancellation of Registration to Society



ITAT, Delhi: Unsigned Balance Sheets Not Admissible as Evidence(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the unsigned balance sheets by Auditor or the Director of Company cannot be treated as relia.....

Tags : Income Tax Appellate Tribunal, Unsigned Balance Sheets



ITAT, Bangalore: Hindu Undivided Family Cannot be Taxed After Its Partition(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that once partition is completed and the Hindu Undivided Family (HUF) is dissolved, such HUF .....

Tags : Income Tax Appellate Tribunal, Hindu Undivided Family



ITAT, Kolkata: Swapping Company Shares Among Shareholders Does Not Attract Addition u/s 68(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that the provisions of Section 68 of the Income Tax Act, 1961 would not be applicable in case o.....

Tags : Income Tax Appellate Tribunal, Swapping Company Shares



ITAT, Pune: French Company Can’t be Taxed for Rendering IT Support Services to Indian Entities(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Information Technology (IT) support services rendered by a French Company to an Ind.....

Tags : Income Tax Appellate Tribunal, French Company Rendering IT Support



ITAT, Mumbai: Wrong Assumption or Incorrect Application Would Make Order Liable for Revision(04.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the wrong assumption of facts or incorrect application of the law would make the order liab.....

Tags : Income Tax Appellate Tribunal, Wrong Assumption or Incorrect Application



ITAT, Bangalore: Warrant Expenses are Deductible from Book Profit(11.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the warrant expenses should be deducted from the book profit under Section 115JB of the .....

Tags : Income Tax Appellate Tribunal, Warrant Expenses



ITAT, Mumbai: Rent from Children Cannot be Treated as Tool for Evasion(11.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the rent received from son and daughter of the Assessee could not be treated as a tax evasi.....

Tags : Income Tax Appellate Tribunal, Rent from Children



ITAT, Mumbai: Reimbursement of Equipment Lost in Hole is Capital Receipt(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the reimbursement received by the Assessee-Company on account of equipment lost in hole is .....

Tags : Income Tax Appellate Tribunal, Equipment Lost in Hole



ITAT, Pune: Addition for Unexplained Cash Credit Can’t be Merely on Suspicion(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune has held that additions for unexplained cash credits under Section 68 of the Income Tax Act, 1961 cannot be.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit



ITAT, Delhi: No Income Tax on Compensation Received on Compulsory Acquisition of Agricultural Land(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that income tax cannot be levied on the compensation or enhanced compensation received on compuls.....

Tags : Income Tax Appellate Tribunal, Compensation on Compulsory Acquisition of Agricultural Land



ITAT, Cochin Denies Tax Exemption to Trust on Micro Finance Activity(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Cochin has held that micro finance activity cannot be treated as charitable in nature for the purpose of allowin.....

Tags : Income Tax Appellate Tribunal, Micro Finance Activity



ITAT, Mumbai: No Penalty If Non-Furnishing of Tax Audit Report was Due to Bona Fide Reasons(18.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the penalty under Section 271B of the Income Tax Act, 1961 is not leviable if there are bon.....

Tags : Income Tax Appellate Tribunal, Non-furnishing of Tax Audit Report



ITAT, Mumbai: Taxpayer Can Opt a Method Resulting in Lowest Tax Liability(19.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that if there exist two methods for tax payment, the Assessee can opt the method which would res.....

Tags : Income Tax Appellate Tribunal, Lowest Tax Liability



ITAT, Chennai Allows Depreciation on ATMs(23.03.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the Automated Teller Machines (ATM) would be eligible for the higher rate of depreciation .....

Tags : Income Tax Appellate Tribunal, Depreciation on ATM



ITAT, Kolkata: No Addition on Share Premium if Shares Allotted Under Barter System(24.03.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that the Assessing Officer cannot invoke the provisions of Section 68 of the Income Tax Act, 19.....

Tags : Income Tax Appellate Tribunal, Addition on Share Premium



ITAT, Pune: Income Tax Act, 1961 Has No Provisions to Condone Delay in Filing Misc. Applications(25.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune, while dismissing a bunch of miscellaneous applications, has held that the Income Tax Act, 1961 does not ha.....

Tags : Income Tax Appellate Tribunal, Condonation of Delay in Filing Miscellaneous Applications.



SC Allows NDTV's Appeal to Quash Income Tax Re-Assessment Notice(06.04.2020)

Supreme Court has allowed the appeal of New Delhi Television Ltd (NDTV) to quash the notice issued by the Income Tax Department seeking to re-open its.....

Tags : Supreme Court, New Delhi Television Ltd, Income Tax Re-Assessment Notice



Finance Ministry Issues Directions to Clear Pending Income Tax Refunds(09.04.2020)

Finance Ministry has unveiled a raft of measures to ensure availability of cash in the system, including speeding up of held-up refunds worth Rs 18,00.....

Tags : Finance Ministry, Pending Income Tax Refunds



SC Upholds Constitutional Validity of Section 43B(f) of Income Tax Act(27.04.2020)

Supreme Court has upheld the constitutional validity of clause (f) of Section 43B of the Income Tax Act, 1961, reversing the judgment of the Calcutta .....

Tags : Supreme Court, Constitutional Validity of Section 43B(f) of Income Tax Act



SC: No Income Tax Liability for UAE Exchange in India(27.04.2020)

Supreme Court has ruled that no income tax can be levied on its liaison offices in India in respect of the principal business carried by it in United .....

Tags : Supreme Court, Income Tax Liability for UAE Exchange



ITAT, Kolkata: Disallowance of Deduction of Interest Income Should be Restricted to Net Interest(08.05.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that disallowance of deduction under Section 80IB(10) of the Income Tax Act, 1961 in respect of.....

Tags : Income Tax Appellate Tribunal, Disallowance of Deduction of Interest Income



ITAT, Bangalore: Name of Assessee’s Son on Purchase Document Not to Affect Deduction(11.05.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the Assessee cannot be denied the 50% of deduction under Section 54 of the Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, Purchase Document



Bombay HC: Contraband Found During Income Tax Search Does Not Amount to Seizure(25.05.2020)

Bombay High Court has held that when officers stumble upon a contraband during an income tax raid, it does not amount to 'seizure' under the Narcotics.....

Tags : Bombay High Court, Contraband Found During Income Tax Raid



ITAT, Mumbai: Interest Income Earned by HSBC Bank Not Eligible to Tax(14.07.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that interest income of Rs 1,498 crore earned by HSBC Bank during the assessment year 2015-16 f.....

Tags : Income Tax Appellate Tribunal, HSBC Bank



ITAT, Delhi Allows Taxmann Publication Claim of Depreciation on Intangible CMS Software(16.07.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has directed the Assessing Officer to allow the Assessee, Taxmann Publication to claim depreciation on the.....

Tags : Income Tax Appellate Tribunal, Taxmann, Depreciation on CMS Software



ITAT, Jodhpur Grants Tax Exemption to Charitable Trust Providing Mid-Day Meals(16.07.2020)

Income Tax Appellate Tribunal (ITAT), Jodhpur has allowed income tax exemption to a charitable Trust engaging in the activity of providing mid-day mea.....

Tags : Income Tax Appellate Tribunal, Charitable Trust Providing Mid-Day Meals



ITAT, Mumbai Confirms Addition of Undisclosed Income of Renu T. Tharani(20.07.2020)

Income Tax Appellate Tribunal, Mumbai has allowed the sum of Rs 196 Crores held by HSBC Private Bank, Switzerland, in the name of Tharani Family Trust.....

Tags : Income Tax Appellate Tribunal, Renu T. Tharani



Karnataka HC: Non-Compliance of SOP Should Not be Ground to Prohibit Candidate from Writing Exam(30.07.2020)

Central Board of Direct Taxes ( CBDT ) has extended the due date of filing Income Tax Returns for the Financial Year 2018-19 to 30th September 2020.

Tags : Central Board of Direct Taxes, Income Tax Returns



ITAT, Mumbai Deletes Tax Claim on Vodafone Rights Issue(15.09.2020)

Income Tax Appellate Tribunal, Mumbai has deleted the addition of Rs 795 Crores by tax authorities as income received from nine Mauritian entities tha.....

Tags : Income Tax Appellate Tribunal, Tax Claim on Vodafone Rights Issue



ITAT, Bangalore: No Restriction in Challenging Intimation Passed on Ratification of Mistake(16.09.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that there is no restriction in challenging intimation passed on ratification of mistake unde.....

Tags : Income Tax Appellate Tribunal, Ratification of Mistake



ITAT, Delhi Allows Exemption to Association of State Road Transport Undertaking(29.09.2020)

Income Tax Appellate Tribunal (ITAT), New Delhi has allowed the exemption under Section 11 and 12 of the Income Tax Act, 1961 to Association of State .....

Tags : Income Tax Appellate Tribunal, Association of State Road Transport Undertaking



#Major Changes Implementing From Today: New Tax Collected at Source (TCS) Regime(01.10.2020)

Income Tax Department has issued guidelines for applicability of Tax Collected at Source (TCS) provision which requires an e-commerce operator to dedu.....

Tags : Income Tax Department, Tax Colleced at Source, E-Commerce Operator



ITAT, Delhi Gives Relief on DDT by Local Companies on Dividends to Foreign Shareholders(15.10.2020)

Income-Tax Appellate Tribunal (ITAT), Delhi has ruled that dividend distribution tax (DDT) payable by Indian companies on dividends distributed to non.....

Tags : Income Tax Appellate Tribunal, Dividend Distribution Tax



Delhi HC Issues Notices in Plea Challenging 'Faceless Income Tax Appeal Scheme 2020'(20.10.2020)

Delhi High Court has issued a notice to Union of India and Income Tax Department on a petition challenging the 'Faceless Income Tax Appeal Scheme, 202.....

Tags : Delhi High Court, Faceless Income Tax Appeal Scheme 2020



Income Tax Appellate Tribunal Revokes Penalty on Jamsetji Tata Trust(29.10.2020)

Income Tax Appellate Tribunal (ITAT) has revoked a Rs. 37 Crores penalty imposed on the Jamsetji Tata Trust by the income tax department, rejecting it.....

Tags : Income Tax Appellate Tribunal, Jamsetji Tata Trust



ITAT, Ahmedabad: Deduction Can be Claimed under R&D for Development of Mechanism(03.11.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the deduction can be claimed under Research and Development (R&D) for Amount incurred to.....

Tags : Income Tax Appellate Tribunal, Deduction under R&D



Allahabad HC Refuses to Quash Charges Against Commissioner of Income Tax(18.11.2020)

Allahabad High Court has refused to quash charges in respect of offences of cheating, criminal conspiracy and Corruption against Commissioner of Incom.....

Tags : Allahabad High Court, Commissioner of Income Tax



ITAT, Mumbai: Mobilisation Fees Not ‘Royalty’ Under India-Singapore Tax Treaty(18.11.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the mobilisation fees received from the time charter of the vessel would not fall within de.....

Tags : Income Tax Appellate Tribunal, Mobilisation Fees



ITAT, Bangalore: Deduction Cannot be Denied on Non-Completion of Residential House(19.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the deduction under Section 54 of the Income Tax Act, 1961 cannot be denied for non-comp.....

Tags : Income Tax Appellate Tribunal, Non-Completion of Residential House



ITAT, Ahmedabad: Transaction Not Colorable Because Assessee Claimed Depreciation on Goodwill(19.11.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the transaction cannot be regarded as a colorable device merely on the basis that assess.....

Tags : Income Tax Appellate Tribunal, Depreciation on Goodwill



ITAT, Bangalore: EY Entitled to Deduction Under Section 10AA on Voluntary Transfer Pricing Adjustment(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the assessee is entitled to deduction under Section 10AA of the Income Tax Act, 1961 on .....

Tags : Income Tax Appellate Tribunal, EY, Voluntary Transfer Pricing Adjustment



ITAT, Mumbai: Company Granting Bonus to Employees or Shareholder Entitled to Tax Benefits(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the company which is granting bonuses to its employees or shareholders is entitled to tax b.....

Tags : Income Tax Appellate Tribunal, Company Granting Bonus



Income Tax Appellate Tribunal (ITAT), Bangalore Confirms Disallowance Against Nike India(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has confirmed disallowance against Nike India, stating that the burden of expenditure for new product .....

Tags : Income Tax Appellate Tribunal, Nike India



SC Asks Madras HC to Decide Constitutional Validity of Section 40(a)(iib) of Income Tax Act(26.11.2020)

Supreme Court has directed the Madras High Court to decide the constitutional validity of Section 40(a)(iib) of the Income Tax Act, 1961.

Tags : Supreme Court, Constitutional Validity of Section 40(a)(iib) of Income Tax Act



ITAT, New Delhi Deletes Addition Against Hindustan Coca Cola Beverages(27.11.2020)

Income Tax Appellate Tribunal (ITAT), New Delhi has deleted the addition against Hindustan Coca Cola Beverages and has held that no tax is applicable .....

Tags : Income Tax Appellate Tribunal, Hindustan Coca Cola Beverages



ITAT, Jaipur: Exemption u/s 11 and 12 Allowable on Donation by Charitable Trust(01.12.2020)

Income Tax Appellate Tribunal (ITAT), Jaipur has given relief to Rajasthan Cricket Association and held that the exemption under Section 11 and 12 of .....

Tags : Income Tax Appellate Tribunal, Exemptions on Donations by Charitable Trust



ITAT, Mumbai: Taxpayer Can Add Price Paid for Amenities to Arrive atTotal Cost of Acquisition(02.12.2020)

Income-Tax Appellate Tribunal (ITAT), Mumbai has held that the taxpayer can add the price paid for amenities to a builder’s group company to arrive at.....

Tags : Income Tax Appellate Tribunal, Total Cost of Acquisition



ITAT, Mumbai: No TDS on Sales Commission Paid to Overseas Agents(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that tax cannot be detected at source on Sales Commission paid to Overseas Agents not having Per.....

Tags : Income Tax Appellate Tribunal, Sales Commission Paid to Overseas Agents



ITAT, Bangalore: No TDS Applicable on Reimbursement of Actual Cab Expenses(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that no TDS (Tax Deducted at Source) is applicable on the reimbursement of the actual cab exp.....

Tags : Income Tax Appellate Tribunal, Reimbursement of Cab Expenses



ITAT, Mumbai: No Disallowance of Interest on Borrowed Capital for Business Purposes(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that interest paid on borrowed funds used for business purposes cannot be disallowed.

Tags : Income Tax Appellate Tribunal, Disallowance of Interest on Borrowed Capital



ITAT, Mumbai: Data Processing Cost Paid by KBC Bank Branch to Head Office Isn’t Royalty(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has upheld the order passed by CIT(A) holding that the Data Processing Cost paid by the KBC Bank Branch t.....

Tags : Income Tax Appellate Tribunal, KBC Bank Branch



ITAT, Bangalore Confirms Disallowance of Advertisement Expenses(08.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has confirmed the disallowance of advertisement expenses relating to the construction of the swimming .....

Tags : Income Tax Appellate Tribunal, Advertisement Expenses



ITAT: No Tax Applicable on India-Singapore Tax Treaty(08.12.2020)

Income Tax Appellate Tribunal (ITAT) has held that no tax applicable on the shipping income of foreign vessels under the India-Singapore Tax Treaty.

Tags : Income Tax Appellate Tribunal, India-Singapore Tax Treaty



ITAT, Bangalore Stays Recovery of Outstanding Tax Arrears Against Google India(14.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has stayed the recovery of outstanding tax arrears to the tune of Rs.1260.56 Crores against Google Ind.....

Tags : Income Tax Appellate Tribunal, Google India



ITAT, Bangalore Directs Assessing Officer to Re-Adjudicate Matter of Wipro GE Healthcare(14.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has directed the Assessing Officer to re-adjudicate the matter of Wipro GE Healthcare in respect of tr.....

Tags : Income Tax Appellate Tribunal, Wipro GE Healthcare



ITAT: Share Application Money is ‘Capital Asset’ Under Income Tax Act(18.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act, 1961.

Tags : Income Tax Appellate Tribunal, Share Application Money



ITAT, Mumbai: Cess Paid Can be Deducted Under Head ‘Profits and Gains of Business or Profession’(22.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the cess paid can be deducted while computing income chargeable under the head “profits and.....

Tags : Income Tax Appellate Tribunal, Cess Paid



ITAT, Mumbai: No Tax on Compensation Received for Loss of Trees(23.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that no Tax is applicable on Compensation received for loss of Trees.

Tags : Income Tax Appellate Tribunal, Compensation for Loss of Trees



Delhi HC: ITAT Ought to Set Aside Ex-Parte Order(24.12.2020)

Delhi High Court has held that the Income Tax Appellate Tribunal (ITAT) is ought to set aside ex-parte order, irrespective of final order decided the .....

Tags : Delhi High Court, Income Tax Appellate Tribunal, Ex-Parte Order



ITAT, Mumbai: Tata Trusts to Continue to be Exempt from Payment of Taxes(29.12.2020)

Income Tax Appellate Tribunal, Mumbai has quashed revisionary orders passed by the Commissioner (exemptions), which would have resulted in three Tata .....

Tags : Income Tax Appellate Tribunal, Tata Trusts



Ministry of Finance Extends Due Date for Filing of Income Tax Returns(31.12.2020)

Ministry of Finance has extended the due date for filing of income tax returns for the financial year 2019-2020 (AY 2020-21) as follows: (A) The due d.....

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Ministry of Finance Extends Due Date for Filing of Income Tax Returns(31.12.2020)

Ministry of Finance has extended the due date for filing of income tax returns for the financial year 2019-2020 (AY 2020-21) till 10th January, 2021. .....

Tags : Ministry of Finance, Due Date of Filing Income Tax Returns



Delhi HC: Failure to Comply with Section 144C of Income Tax Act Invalidates Assessment Order(04.01.2021)

Delhi High Court has held that the failure of the assessing officer to adhere to the "mandatory requirement" of Section 144C (1) of the Income Tax Act.....

Tags : Delhi High Court, Failure to Comply with Section 144C of Income Tax Act



ITAT, Bangalore: Registration has to be Granted if No Evidence of Malafide Activities(05.01.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed the application for the registration holding that the registration has to be granted if th.....

Tags : Income Tax Appellate Tribunal, Registration of Trust



ITAT, Bangalore: Losses on Account of Exchange Fluctuation Allowed as Deduction(06.01.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that losses on account of exchange fluctuation on forward contracts are allowable as a deduct.....

Tags : Income Tax Appellate Tribunal, Losses on Exchange Fluctuation



ITAT, Mumbai: Addition of Unabated Assessment Without Incriminating Seized Material Not Sustainable(07.01.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the addition of unabated assessment without incriminating seized material for assessment un.....

Tags : Income Tax Appellate Tribunal, Addition of Unabated Assessment



Gujarat High Court Asks CBDT to Decide on Extension of Deadline by January 12(11.01.2021)

Gujarat High Court has directed Central Board of Direct Taxation (CBDT) to take a decision by 12th January, 2021 on the extension of filing of Income .....

Tags : Gujarat High Court, Extension of Deadline for Filing Income Tax Returns



Delhi HC: Remand Power Not to be Exercised by ITAT in Routine Matter(19.01.2021)

Delhi High Court has held that the remand is not a power to be exercised by Income Tax Appellate Tribunal in a routine manner but to be used sparingly.....

Tags : Delhi High Court, Income Tax Appellate Tribunal



ITAT: Vodafone Idea Not Liable to Deduct TDS on Discount Extended to Pre-paid Distributors(22.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Vodafone Idea Ltd. is not liable to deduct TDS on discount extended to its pre-paid dist.....

Tags : Income Tax Appellate Tribunal, Vodafone Idea Ltd.



ITAT, Delhi Deletes Adjustments of TPO on AMP Expenses of Ray-Ban(27.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has given relief to Ray-Ban deleting the adjustments made by the Transfer Pricing Officer (TPO) on account.....

Tags : Income Tax Appellate Tribunal, Ray-Ban



ITAT, Delhi Deletes Additions on Passing of Expiry Date of Product in Relief to Hindustan Coca Cola(27.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi in a relief to Hindustan Coca Cola has deleted the additions of Rs. 20.89 Lakhs on account of passing of t.....

Tags : Income Tax Appellate Tribunal, Hindustan Coca Cola



ITAT, Delhi Allows Deloitte to Deduct Expenditure on Suit Against Partner as Business Expenditure(01.02.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the expenditure incurred by Deloitte Haskins & Sells towards defending suit against the part.....

Tags : Income Tax Appellate Tribunal, Deloitte Haskins & Sells



ITAT, Allahabad: No Tax Applicable on Interest Income Linked to Power Plant(04.02.2021)

Income Tax Appellate Tribunal (ITAT), Allahabad has held that the no tax is applicable on the interest income linked with the power plant set up as it.....

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ITAT, Bangalore: Assessee Living in Joint Family, Gold Credit to be Given to All Members(05.02.2021)

Income Tax Appellate Tribunal, Bangalore has ruled that when the assessee is living in joint family, gold credit provided by the Commissioner of Incom.....

Tags : Income Tax Appellate Tribunal, Gold Credit



ITAT, Pune: Sale Consideration for Sale of Software Products is Business Income(15.02.2021)

Income Tax Appellate Tribunal (ITAT) Pune has ruled that the sale consideration received for the sale of software products from the end-users, distrib.....

Tags : Income Tax Appellate Tribunal, Sale Consideration for Sale of Software Products



ITAT, Chennai: Simpliciter Interest Received for Delay in Payment Not Income from Business(16.02.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that simpliciter interest received for delay in payment cannot be considered as income generate.....

Tags : Income Tax Appellate Tribunal, Simpliciter Interest



ITAT, Bangalore Quashes Re-assessment Proceedings Against Nike India Pvt. Ltd.(17.02.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has quashed re-assessment proceedings against Nike India Pvt. Ltd, which was reopened more than 4 year.....

Tags : Income Tax Appellate Tribunal, Nike India Pvt. Ltd.



ITAT, Mumbai: Provisions of Book Profit Not Applicable When No Income Tax Payable(19.02.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the provisions relating to Book Profit will not be applicable when there is no income tax .....

Tags : Income Tax Appellate Tribunal, Book Profit



ITAT, Bangalore: Assessee in Principle Entitled to Claim Deduction of Gratuity(22.02.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appe.....

Tags : Income Tax Appellate Tribunal, Deduction of Gratuity



ITAT, Mumbai Allows Payment by Tata Chemicals for Using ‘TATA’ Logo as Business Deduction(22.02.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has allowed Rs 3.7 Crores to be paid by Tata Chemicals for using the ‘TATA’ logo as a business deduction.

Tags : Income Tax Appellate Tribunal, Tata Chemicals



ITAT, Mumbai: Leaseholder’s Expenses Not Capital Expenditure(23.02.2021)

Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the pur.....

Tags : Income Tax Appellate Tribunal, Leaseholder’s Expenses



ITAT, Delhi Accepts Harish Salve’s Deduction of Foreign Scholarship as Business Expense(01.03.2021)

Income Tax Appellate Tribunal, New Delhi, has accepted the claim of Senior Advocate Harish Salve for deduction of the foreign scholarship given by him.....

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ITAT, Delhi Allows Hero FinCorp to Delete Disallowance of Expenses Against Leased Rent(08.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has provided a relief to Hero FinCorp by deleting the disallowance of expenses claimed against lease rent.

Tags : Income Tax Appellate Tribunal, Hero FinCorp



ITAT, Chennai Directs AO to Allow Expenditure at Head Office Against Interest Income(08.03.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has directed the Assessing Officer to allow expenditure incurred at Head Office except for director sala.....

Tags : Income Tax Appellate Tribunal, Expenditure at Head Office



ITAT, Mumbai: Uber India Not Liable to Deduct TDS for Payments Made to Drivers(09.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Uber India is not liable to deduct tax at source (TDS) for payments made to the drivers, po.....

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ITAT, Bangalore: Income of Assessee to be Estimated at 8% of Gross Turnover(10.03.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that the income of the assessee be estimated at 8% of the gross turnover if books of account.....

Tags : Income Tax Appellate Tribunal, Income of Assessee



ITAT, Mumbai Denies Refund of Foreign Taxes Paid by Bank of India(12.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has denied in a recent order a refund in respect of foreign taxes aggregating to Rs 182.6 crore paid by B.....

Tags : Income Tax Appellate Tribunal, Bank of India



ITAT, Bangalore Extends Stay of Collection of Outstanding Tax Demand Against Google India(15.03.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed the further extension of stay of collection of outstanding tax demand to the tune of Rs.12.....

Tags : Income Tax Appellate Tribunal, Google India



ITAT, Cuttack: Interest Not Leviable if TDS Paid Before Completion of Proceedings(15.03.2021)

Income Tax Appellate Tribunal (ITAT), Cuttack has ruled that no interest is leviable if Tax Deducted at Source (TDS) is timely deducted and paid to th.....

Tags : Income Tax Appellate Tribunal, Interst on TDS



ITAT, Mumbai: Activities Undertaken by Builders Association Not Trade, Commerce or Business(16.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has allowed the exemption under section 11(1)(a) of the Income Tax Act, 1961 as activities undertaken by .....

Tags : Income Tax Appellate Tribunal, Activities Undertaken by Builders Association



ITAT, Delhi: Notice u/s 143(2) to be Served within 6 Months(18.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the notice issued under section 143(2) of the Income tax Act, 1961 has to be served upon th.....

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ITAT, Delhi: Entire Reassessment Proceedings Invalid if Assessee Precluded from Raising Objections(22.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the entire reassessment proceedings invalid, if assessee precluded from raising objection a.....

Tags : Income Tax Appellate Tribunal, Reassessment Proceedings



ITAT, Kolkata Allows Long-Term Capital Loss from Sale of Government Securities(23.03.2021)

Income Tax Appellate Tribunal (ITAT), Kolkata has allowed the Long-Term Capital Loss arising from the sale of Government Securities after applying the.....

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ITAT, Bangalore: Shortage of Manpower on Account of Merger Sufficient for Condonation of Delay(24.03.2021)

Income Tax Appellate Tribunal, Bangalore has stated that shortage of manpower and lack of guidance/expertise in taxation, on account of merger of Stat.....

Tags : Income Tax Appellate Tribunal, Condonation of Delay



ITAT, Delhi: Deduction u/s 80HHC to be Computed after Reducing Deduction u/s 80IA(02.04.2021)

Income Tax Appellate Tribunal, Delhi has held that deduction allowed under Section 80-IA of Income Tax Act, 1961 has to be reduced from the profits fo.....

Tags : Income Tax Appellate Tribunal, Deduction u/s 80HHC



CBDT Notifies Scrapping of Certain Forms for Income Tax Deductions(05.04.2021)

Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III under the Income Tax Act, 1961 ceased to be effective o.....

Tags : Central Board of Direct Taxes, Forms for Income Tax Deductions



ITAT, Mumbai: Incidental Activities of Trust of Charitable Purpose Not Commercial Activities(06.04.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that where the purpose of the trust is relief to poor, education, or medical relief, the other a.....

Tags : Income Tax Appellate Tribunal, Incidental Activities of Trust of Charitable Purpose



ITAT, Jaipur Allows Deduction u/s 54F on Residential House Property Purchased in Name of Wife(07.04.2021)

Income Tax Appellate Tribunal (ITAT), Jaipur has allowed the deduction under section 54F of the Income Tax Act, 1961 in respect of residential house p.....

Tags : Income Tax Appellate Tribunal, Deduction u/s 54F on Residential House Property



ITAT, Delhi: No Tax on Compensation for Acquisition of Agricultural Land by State Govt(15.04.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that no tax shall be payable on compensation for acquisition of agricultural land by the state go.....

Tags : Income Tax Appellate Tribunal, Compensation for Acquisition of Agricultural Land



ITAT, Ahmedabad: Shares at Face Value by Amalgamated Company Not Covered Under Income Tax Act(16.04.2021)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that the Shares at ‘face value’ by the amalgamated company to shareholders in pursuance of s.....

Tags : Income Tax Appellate Tribunal, Shares at Face Value by Amalgamated Company



Madras HC: ITSC Cannot Force Income Tax Dept to Settle Disputes with Assessees(26.04.2021)

Madras High Court has ruled that Income Tax Settlement Commission (ITSC) cannot force the Income Tax Department to settle disputes with assessees if t.....

Tags : Madras High Court, Income Tax Settlement Commission



ITAT, Delhi: Actual Receipt of Money by Assessee is Mandatory for Unexplained Cash Credit(29.04.2021)

Income Tax Appellate Tribunal (ITAT), Delhi, while providing the relief to the Zexus Air Services Pvt. Ltd., has ruled that actual receipt of money by.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit



SC: Deduction Under Section 80-IA Income Tax Act Not Restricted to 'Business Income' Only(29.04.2021)

Supreme Court has held that the scope of sub-section (5) of Section 80- IA of the Income Tax Act, 1961 is limited to determination of quantum of deduc.....

Tags : Supreme Court, Deduction Under Section 80-IA Income Tax Act



ITAT, Hyderabad: Property Ceases to be Business Asset When No Depreciation Claimed(30.04.2021)

Income Tax Appellate Tribunal (ITAT), Hyderabad has ruled that Property ceases to be a business asset when no depreciation is claimed and profit and g.....

Tags : Income Tax Appellate Tribunal, Property



ITAT, Chandigarh: Tax Authorities Cannot Evade Responsibility to Collect Correct Taxes(10.05.2021)

Income Tax Appellate Tribunal (ITAT), Chandigarh has held that the Tax authorities cannot evade responsibility to ensure only correct and due taxes ar.....

Tags : Income Tax Appellate Tribunal, Responsibility to Collect Correct Taxes



ITAT, Hyderabad: Deduction Granted in First Year Cannot be Denied in Subsequent Years(11.05.2021)

Income Tax Appellate Tribunal (ITAT), Hyderabad has ruled that the deduction under section 80IA(4) of the Income Tax Act, 1961 granted in first year c.....

Tags : Income Tax Appellate Tribunal, Deduction Granted in First Year



Central Govt Notifies Special Courts in Tripura to Deal with Income Tax and Black Money Cases(13.05.2021)

Central Government has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 of the Black Money.....

Tags : Central Government, Income Tax and Black Money Cases



ITAT, Pune: Reimbursement on Welfare Expenses Incurred by Multinationals in India Not Taxable(18.05.2021)

Income Tax Appellate Tribunal (ITAT), Pune has said that reimbursement on welfare expenses incurred by multinationals in India shall not be taxable if.....

Tags : Income Tax Appellate Tribunal, Reimbursement on Welfare Expenses Incurred by Multinationals in India



ITAT, Mumbai: Forex Gains on Repayment of Interest-free Loan by Relative Not Taxable(19.05.2021)

Income Tax Appellate Tribunal, Mumbai has ordered that foreign exchange gains arising in the hands of an individual, on a repayment of an interest-fre.....

Tags : Income Tax Appellate Tribunal, Forex Gains on Repayment of Interest-free Loan by Relative



ITAT, Chennai Quashes Income Tax Department Assessment Order Against T.T.V. Dhinakaran(24.05.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has quashed an Income Tax Department assessment order determining undisclosed income of about Rs. 57.43 .....

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Procedure for exercise of option under sub-section (1) of Section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-Rule (1) of Rule 44DA of Income-Tax Rules, 1962(24.05.2021)

In exercise of the powers conferred by the Department of Revenue, Ministry of Finance, under sub-rule (3) and sub-rule (4) of Rule 44DA of the Income-.....

Tags : Form, Income Tax



ITAT, Hyderabad: Joint Holder in Husband’s Salary Account Not Undisclosed Foreign Account(01.06.2021)

Income Tax Appellate Tribunal (ITAT) Hyderabad has dismissed an appeal by the revenue department wherein it ruled that being a joint account holder in.....

Tags : Income Tax Appellate Tribunal, Undisclosed Foreign Account



ITAT, Delhi: Revision of Orders Prejudicial to Revenue Not to be Invoked for Computational Error(02.06.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the provision related to revision of orders prejudicial to revenue under Section 263 of the.....

Tags : Income Tax Appellate Tribunal, Revision of Orders



CBDT Relaxes Electronic Filing of Income Tax Forms 15CA / 15CB in View of Technical Difficulties(15.06.2021)

Central Board of Direct Taxes (CBDT) has relaxed the Electronic Filing of Income Tax Forms 15CA / 15CB, in view of the difficulties reported by taxpay.....

Tags : Central Board of Direct Taxes, Electronic Filing of Income Tax Forms 15CA / 15CB



ITAT, Pune: Income from Sale of Software License Not ‘Royalty’ Under Indo-US DTAA(17.06.2021)

Income Tax Appellate Tribunal (ITAT), Pune has held that the income from the sale of software license cannot be treated as “royalty” for the purpose o.....

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ITAT, Bangalore: Long Term Capital Loss to be Computed from Date of Possession of Property(22.06.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that long term capital loss is to be computed from the date of possession of Property and not.....

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ITAT, Indore: Revisional Jurisdiction Cannot be Invoked if Assessment Orders Not Erroneous(30.06.2021)

Income Tax Appellate Tribunal (ITAT), Indore has held that revisional jurisdiction under Section 263 of the Income Tax Act, 1961 cannot be invoked if .....

Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction



ITAT, Mumbai Grants Relief to Red Hat India Pvt Ltd as AO Did Not Follow DRP’s Directions(05.07.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that adjustment relating to International Transactions pertaining to the provision of software .....

Tags : Income Tax Appellate Tribunal, Red Hat India Private Limited



CBDT Extends Electronic Filing of Income Tax Forms 15CA / 15CB(06.07.2021)

Central Board of Direct Taxes (CBDT) has extended the electronic filing of Income Tax Forms 15CA/15CB to 15th July, 2021. Taxpayers can submit the sai.....

Tags : Central Board of Direct Taxes, Electronic Filing of Income Tax Forms 15CA / 15CB



ITAT, Delhi Upholds Income Tax Addition of 3.9 Crores against Indian Franchise of KFC, Pizza Hut(07.07.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has upheld an Income Tax addition of Rs. 3,91,94,260 against Indian franchise of KFC, Pizza Hut, holding t.....

Tags : Income Tax Appellate Tribunal, KFC, Pizza Hut



ITAT, Allahabad: Amount of Share of Conversion of Leasehold Land Allowed as Cost of Improvement(12.07.2021)

Income Tax Appellate Tribunal (ITAT), Allahabad has held that the amount paid by a co-owner of the property towards his share for conversion of afores.....

Tags : Income Tax Appellate Tribunal, Amount of Share of Conversion of Leasehold Land



Income Tax Amendment (19th Amendment), Rules, 2021(07.07.2021)

In exercise of the powers conferred by proviso to section 50 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Dire.....

Tags : Income Tax, Amendment, Rules



ITAT Grants Conditional Stay to Vodafone Group in Transfer Pricing Case(20.07.2021)

Income Tax Appellate Tribunal (ITAT) has granted a conditional stay to a Vodafone Group Plc entity Vodafone India Services Pvt Ltd (VISPL) in a transf.....

Tags : Income Tax Appellate Tribunal, Conditional Stay to Vodafone Group



ITAT, Bangalore: Income Tax Deduction Not Allowed to Professional Charges Paid for Acquisition(26.07.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the income tax deduction cannot be allowed to professional and consultancy charges paid .....

Tags : Income Tax Appellate Tribunal, Professional Charges Paid for Acquisition



CBDT grants further relaxation in electronic filing of Income Tax forms 15CA/15CB(20.07.2021)

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along wit.....

Tags : Relaxation, Electronic filing, Income Tax forms



ITAT, Mumbai Directs AO to Set Off MAT Credit in Relief to Tata Motors(30.07.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has directed the Assessing Officer to set off of (MAT) credit inclusive of surcharge, education cess in a.....

Tags : Income Tax Appellate Tribunal, Tata Motors



ITAT, Delhi: Provision of Ground Rent Shall Not be Allowable Under Section 43B Income Tax Act(03.08.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the provision of ground rent shall not be allowable under section 43B of the Income Tax Act,.....

Tags : Income Tax Appellate Tribunal, Provision of Ground Rent



CBDT Notifies Constitution of Special Court for Income Tax and Black Money Cases(06.08.2021)

Central Board of Direct Taxes (CBDT) has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 .....

Tags : Central Board of Direct Taxes, Special Court for Income Tax and Black Money Cases



ITAT, Bangalore: Consideration for Sale of Software Not to be Treated as Royalty(13.08.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that consideration for the sale of software cannot be treated like royalty.

Tags : Income Tax Appellate Tribunal, Consideration for Sale of Software



ITAT, Bangalore: Payment to Federation of Indian Mineral Industries Deductible Business Expenditure(24.08.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payment made to the federation of Indian Mineral Industries is deductible from the b.....

Tags : Income Tax Appellate Tribunal, Payment to Federation of Indian Mineral Industries



Delhi HC Asks Director General of Income Tax to Resolve Glitches in Income Tax Portal(31.08.2021)

Delhi High Court has asked the Director General of Income Tax to resolve the glitches in the income tax portal while observing that the new software s.....

Tags : Delhi High Court, Glitches in Income Tax Portal



ITAT, Bangalore Grants Partial Relief to Google Ireland Where Tribunal Expedited Hearing(06.09.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted partial relief to Google Ireland where the Tribunal expedited the hearing and posted the m.....

Tags : Income Tax Appellate Tribunal, Partial Relief to Google Ireland



ITAT, Mumbai Deletes Income Tax Penalty Against Bollywood Actress Preity Zinta(08.09.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has deleted a penalty order imposed against the actress Preity Zinta. The department has imposed the pena.....

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Finance Ministry Extends Due Date for Filing of Income Tax Returns (ITRs) for FY 2020-2021(10.09.2021)

Central Board of Direct Taxes (CBDT) has extended the due date of filing of income-tax returns and various reports of audit for the Assessment Year 20.....

Tags : Central Board of Direct Taxes, Filing of Income Tax Returns



ITAT Delhi Upholds CIT (A) Order Disallowing Expenses in Relief to Tulip Star Hotel(13.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi, in a major relief to Tulip Star Hotel, has upheld an order of the Commissioner of Income Tax (Appeals) w.....

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ITAT, Delhi: TDS Required to be Deductible on Commission to Overseas Agents(15.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Tax Deducted at Source (TDS) is required to be deductible on the amount of commission pa.....

Tags : Income Tax Appellate Tribunal, Commission to Overseas Agents



ITAT, Jodhpur: Genuineness of Cash in Hand Not Dependent on Time Gap Between Withdrawal and Deposit(20.09.2021)

Income Tax Appellate Tribunal (ITAT), Jodhpur has ruled that mere time gap between Withdrawals and Deposits cannot be a sole basis for suspecting genu.....

Tags : Income Tax Appellate Tribunal, Genuineness of Cash in Hand



SC: Amount of Income Tax Deductible or Collectible at Source Can be Reduced by Assessee(21.09.2021)

Supreme Court has held that the amount of income tax which is deductible or collectible at source can be reduced by the assessee while calculating adv.....

Tags : Supreme Court, Income Tax Deductible or Collectible at Source



ITAT, Delhi: Western Union Cannot be Subject to Income Tax for Business Profit Earned in India(22.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Western Union cannot be subject to income tax for the business profit earned in India in.....

Tags : Income Tax Appellate Tribunal, Western Union



ITAT, Indore: Denial of Opportunity to Cross-Examine Parties Would be Violation of Natural Justice(23.09.2021)

Income Tax Appellate Tribunal (ITAT), Indore has held that the denial of opportunity to the assessee to conduct cross-examination of the parties who h.....

Tags : income Tax Appellate Tribunal, Violation of Natural Justice



ITAT, Mumbai: Shell India Not Taxable in India for Consideration Received from Resale of Software(27.09.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Shell India not taxable in India for consideration received from resale/use of the computer.....

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ITAT, Bangalore: Independent Building with More Than One Residential Unit Eligible for Capital Gain(27.09.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that an independent building with more than one residential unit within it shall be eligible .....

Tags : Income Tax Appellate Tribunal, Independent Building with More Than One Residential Unit



ITAT: Single Transaction of Buying and Selling of Shares Can’t be Treated as Business Activity(29.09.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that a single transaction of buying and selling of shares cannot be treated as a business acti.....

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ITAT, Chennai: Capital Gain Exemption Cannot be Denied to Assessee Merely on Basis of Facts(29.09.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 cannot be denied .....

Tags : Income Tax Appellate Tribunal, Capital Gain Exemption



CBDT Extends Time Period for Processing Income Tax Returns with Refund Claims(01.10.2021)

Central Board of Direct Taxes (CBDT) notified the extension of the time period for Processing returns with refund claims beyond prescribed time limits.....

Tags : Central Board of Direct Taxes, Income Tax Returns with Refund Claims



Income Tax Appellate Tribunal, Delhi: 10% Presumptive Tax on Hiring of Security Guards(19.10.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that 10% Presumptive Tax shall be applicable on business of hiring security guards for customers.....

Tags : Income Tax Appellate Tribunal, Hiring of Security Guards



ITAT, Amritsar Allows Registration Under Section 12A to Educational Welfare Society(19.10.2021)

Income Tax Appellate Tribunal (ITAT), Amritsar has allowed Registration under Section 12A of the Income Tax Act, 1960 to an Educational Welfare Societ.....

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ITAT, Mumbai Quashes Demand of 6% of Value of Exempted Service as Job Work(20.10.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has quashed the demand of 6% of value of exempted service as job work is incidental and ancillary to manu.....

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ITAT, Kolkata Deletes Addition as Interest on Loan After Deduction of TDS(22.10.2021)

Income Tax Appellate Tribunal (ITAT), Kolkata has deleted the addition as interest on Loan duly paid by the assessee after deducting Tax Deducted at S.....

Tags : Income Tax Appellate Tribunal, Interest on Loan After Deduction of TDS



CBDT Notifies MP, Chandigarh Pollution Control Board Eligible for Income Tax Exemption(01.11.2021)

Central Board of Direct Taxes (CBDT) has notified the Madhya Pradesh and Chandigarh Pollution Control Board, Gujarat State Aids Control Society eligib.....

Tags : Central Board of Direct Taxes, Income Tax Exemption



ITAT: BCCI Can't Be Denied Income Tax Exemption Just Because IPL Makes Profits(15.11.2021)

Income Tax Appellate Tribunal has held that the Board of Control for Cricket in India (BCCI) is entitled to registration under Section 12A of the Inco.....

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Guidelines under sub-section (4) of section 194-O, sub-section (3) of section 194Q and sub-section (1-I) of section 206C of the Income Tax Act, 1961(25.11.2021)

1. Finance Act, 2020 inserted a new section 194-O in the Income-tax Act 1961 (hereinafter referred to as "the Act") which mandates that with effect fr.....

Tags : Guidelines, Provisions, Income Tax



ITAT: Royalty from Operator Agreement not Chargeable to Income Tax Under Indo-US Tax Treaty(30.11.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that royalty from Operator agreement not chargeable to Income Tax under Indo-US Tax Treaty.

Tags : Income Tax Appellate Tribunal, Royalty from Operator Agreement



CBDT Reduces Time Limit to Re-open Income Tax Assessments(07.12.2021)

Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopen.....

Tags : Central Board of Direct Taxes, Re-open Income Tax Assessments



ITAT, Delhi: Addition Cannot be Made on Evidence of Third Party(09.12.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Addition cannot be made on evidence of third party without granting the cross-examinatio.....

Tags : Income Tax Appellate Tribunal, Addition on Evidence of Third Party



ITAT Allows Deduction on Expense of Education Cess in Relief to PC Jewellers(09.12.2021)

Income Tax Appellate Tribunal (ITAT) has granted the deduction on Expense of Education Cess as it does not fall under capital expense, personal expen.....

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3.59 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department(16.12.2021)

Senior officials of Ministry of Finance headed by Secretary, Revenue had a meeting with the Infosys team headed by Shri Salil Parekh, MD & CEO, Infosy.....

Tags : Income Tax Returns, E-filing, Portal



ITAT, Delhi: Indian Youth Centre Trust Eligible for Income Tax Benefits(15.12.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Indian Youth Centre Trust is eligible for income tax benefits under section 11 of the In.....

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ITAT, Amritsar: Assessee to Claim Deduction of Employees Share of ESI and PF(24.12.2021)

Income Tax Appellate Tribunal (ITAT), Amritsar has held that the assessee to claim deduction of employee’s share of Employees’ State Insurance and Pro.....

Tags : Income Tax Appellate Tribunal, Deduction of Employees Share of ESI and PF



ITAT, Bangalore: Omission to Serve Notice u/s 143(2) of Income Tax Act is Not a Curable Defect(21.12.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore, while deleting an assessment order held that the omission to serve a notice under section 143(2) of t.....

Tags : Income Tax Appellate Tribunal, Omission to Serve Notice



Bombay HC Rejects Petition Challenging Show Cause Notice Issued By Income Tax Department(20.12.2021)

Bombay High Court has rejected a petition filed by Maharashtra Cabinet Minister Chhagan Bhujbal challenging a show cause notice issued by the Income T.....

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ITAT: VAT Expenses on Deemed Import Eligible to be Set Off Against VAT Output(31.12.2021)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the Value Added Tax (VAT) expenses on deemed import are eligible to be set off against t.....

Tags : Income Tax Appellate Tribunal, VAT Expenses on Deemed Import



Delhi HC Directs Income Tax Department To Reconsider The Issuance of Certificate With NIL Deduction(07.01.2022)

Delhi High Court directed the Income Tax Department to reevaluate the issue of issuance of the certificate with ‘NIL’ deduction of income tax after gr.....

Tags : Delhi High Court, Income Tax Department, Certificate, Opportunity Of Being Heard



ITAT: Capital Gains Arising On Sale Of Rural Agricultural Land Outside The Ambit Of Income Tax(11.01.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has observed that the capital gains arising on sale of rural agricultural land outside the purvi.....

Tags : ITAT, Capital Gain, Income Tax



ITAT, Delhi: Petty Expenses Cannot be Disallowed on Ad-Hoc Basis in Corporate Entity(12.01.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the petty expenses relating to telephone expenses, advertisement expenses cannot be disallow.....

Tags : Income Tax Appellate Tribunal, Petty Expenses



Central Board of Direct Taxes Extends Due Date of Income Tax Audit Reports(12.01.2022)

Central Board of Direct Taxes (CBDT) has notified the extension of the timeline for filing Income Tax Returns and Various reports of audit for the AY .....

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ITAT, Delhi: AO Cannot Undertake Fishing or Roving Inquiry Under Guise of Re-Assessment(12.01.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Assessing Officer under guise of power to re-open Assessment cannot undertake a fishing .....

Tags : Income Tax Appellate Tribunal, Fishing or Roving Inquiry



Gujarat HC Issues Notice on Plea Challenging Income Tax Provision Treating Defaulter at Par(14.01.2022)

Gujarat High Court has issued the notice to the government on a plea challenging Income Tax Provision treating defaulter as well as a genuine taxpayer.....

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ITAT, Ahmedabad: Mere Change of Opinion Cannot be Ground Invoking Revisional Jurisdiction(24.01.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad, has held that a mere change of opinion cannot be a ground for invoking revisional jurisdiction under .....

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ITAT, Chennai: Right Through Share Warrants is Valuable Right, Can be Treated as Capital Asset(24.01.2022)

Income Tax Appellate Tribunal (ITAT), Chennai, has held that a right acquired through share warrants is a valuable right, can be treated as a capital .....

Tags : Income Tax Appellate Tribunal, Right Through Share Warrants



ITAT, Mumbai: Interest on Delay in Payment of Advancements Charged Only on Returned Income(27.01.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest on delay in payment of advancements shall be charged only on the returned inco.....

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ITAT, Mumbai: Transponder Charges Not in Nature of Royalty Income(27.01.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the transponder charges are not in the nature of royalty income as per the provisions of th.....

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Telangana HC: Scrutiny By IT Department Barred For The Period Covered By The Resolution Plan(28.01.2022)

Telangana High Court has observed that for the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessmen.....

Tags : Income Tax Act, Insolvency and Bankruptcy Code, Corporate Debtor, Financial Creditor



ITAT, Ahmedabad: No Disallowance for Interest Expenses if Investment to Acquire Control(03.02.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that no disallowance can be made for interest expenses if the investment was made to acquire .....

Tags : Income Tax Appellate Tribunal, No Disallowance for Interest Expenses



ITAT, Ahmedabad: Income Tax Assessment Against Deregistered Company Invalid(04.02.2022)

Income Tax Appellate Tribunal (ITAT) Ahmedabad, has held that the income tax assessment against a company deregistered by the Ministry of Corporate Af.....

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ITAT, Kolkata Directs CIT (A) to Send Notices to Advocates Through Email(07.02.2022)

Income Tax Appellate Tribunal (ITAT) Kolkata has directed the Commissioner of Income Tax (Appeals) to send notices to the advocate of the assessee thr.....

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ITAT, Delhi: Charitable Trust Entitled to Adjust Excess Expenditure in Subsequent Income(08.02.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Charitable trust is entitled to carry forward, adjust excess expenditure in earlier year.....

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ITAT, Mumbai Disallows Fees Paid for Investment Advisory Services on Lack of Documentary Evidence(08.02.2022)

Income Tax Appellate Tribunal (ITAT) Mumbai has disallowed fees paid towards Investment Advisory Services as assessee only furnished debit note, and .....

Tags : Income Tax Appellate Tribunal, Fees Paid for Investment Advisory Services



ITAT, Pune: No Income Tax Payable on Sale of Software Licence(09.02.2022)

Income Tax Appellate Tribunal (ITAT), Pune, has ruled that no Income Tax payable on Sale of Software Licence, support, maintenance as it is not Royalt.....

Tags : Income Tax Appellate Tribunal, Sale of Software Licence



ITAT, Mumbai: AOP Running Educational Institution Eligible For Exemption(22.02.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that an unregistered Association of Persons (AOP), formed by an agreement merging two charitable Trust.....

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ITAT, Chennai Allows Loss on Investment in Subsidiary Company as Business Loss(23.02.2022)

Income Tax Appellate Tribunal (ITAT), Chennai has allowed the loss on investment made in subsidiary company for increasing business expediency to be w.....

Tags : Income Tax Appellate Tribunal, Loss on Investment in Subsidiary Company



ITAT, Mumbai: Reassessment Proceeding Cannot be Held Time Barred When Amendment Increases Limitation(25.02.2022)

Income Tax Appellate Tribunal, Mumbai has held that reassessment proceeding cannot be held time barred when an amendment increasing limitation of time.....

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ITAT, Mumbai: Invalid Re-Assessment By AO Cannot Be Subject Matter of Revision(28.02.2022)

Income Tax Appellate Tribunal, Mumbai has held that when an assessment framed by the Assessing Officer is invalid in law, the said invalid order canno.....

Tags : Income Tax Appellate Tribunal, Subject Matter of Revision



ITAT, Bangalore: Employee Contribution to Provident Fund Before ITR Eligible for Deduction(03.03.2022)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that an Employee contribution to Provident Fund (PF)/ Employee State Insurance (ESI) before .....

Tags : Income Tax Appellate Tribunal, Employee Contribution to Provident Fund



ITAT, Delhi: House Rent Allowance Exemption Allowable on Rent Paid to Spouse(04.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that Income Tax Act, 1961 does not prohibit claiming house rent allowance (HRA) exemption on the .....

Tags : Income Tax Appellate Tribunal, House Rent Allowance



ITAT, Delhi: Income Tax Notice, Revisionary Proceedings Against Dead Person is Void(07.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the notice issued against a dead person is null and void and all consequent proceedings or o.....

Tags : Income Tax Appellate Tribunal, Revisionary Proceedings Against Dead Person



ITAT, Mumbai: Sale of Transferable Development Rights Does Not Attract Capital Gains Tax(07.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that sale of transferable development rights does not attract capital gains tax since the cost of acqu.....

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Delhi High Court Held That Findings of Fact Recorded by ITAT, Cannot Be Interfered(08.03.2022)

Delhi High Court has observed that in an appeal to the High Court under Section 260A of the Income Tax Act, 1961 there can be no interference with the.....

Tags : Delhi High Court , Income Tax Act, 1961



ITAT: Consideration For Accessing Database Cannot Be Treated As 'Royalty'(08.03.2022)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has observed that the consideration for accessing Database cannot be treated as 'Royalty' under In.....

Tags : Income Tax Appellate Tribunal, Double Taxation Avoidance Agreement, India-US



Delhi High Court: Application For Compounding Of Offence U/S 276CC IT Act Cannot Be Rejected(08.03.2022)

Delhi High Court has held that an application for compounding of the offence under Income Tax Act, 1961 cannot be rejected on the ground that Assessee.....

Tags : Delhi High Court, Chief Commissioner of Income Tax, Section 276CC of Income Tax Act, 1961



Delhi HC Quashes Reassessment Notice, There Is No Rational Nexus To Believe Escapement Of Income(08.03.2022)

Delhi High Court has nullified the reassessment notice issued under Section 148 of Income Tax Act, 1961 on the grounds that the reason to believe was .....

Tags : Delhi High Court, Section 148, Income Tax Act, 1961, Reassessment Notice



ITAT, Bangalore: Unascertained Business Loss Cannot be Allowed as Deduction(09.03.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that unless the recovery of embezzled amount in the course of business was impossible, it could not.....

Tags : Income Tax Appellate Tribunal, Unascertained Business Loss



ITAT, Delhi: Non Production of Persons Despite Summons Leads to Inference of Routing Own Money(09.03.2022)

Income Tax Appellate Tribunal, Delhi has ruled that an Assessing Officer has the power to verify transactions beyond the paperwork submitted by the As.....

Tags : Income Tax Appellate Tribunal, Non Production of Persons



ITAT: Unascertained Liability Cannot be Allowed as Embezzlement Losses in Computing Business Income(10.03.2022)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the embezzlement loss stated by the assessee is not ascertained liability and hence cann.....

Tags : Income Tax Appellate Tribunal, Embezzlement Losses, Business Income



ITAT, Chennai: Capital Gains to be Computed as per Share of Parties in Residential Property(10.03.2022)

Income Tax Appellate Tribunal, Chennai has held that capital gains under the Income Tax Act, 1961 is to be computed according to the respective share .....

Tags : Income Tax Appellate Tribunal, Capital Gains



Delhi HC Dismisses Appeal Against Deletion of Income Tax Addition for Share or Bogus Purchases(11.03.2022)

Delhi High Court has dismissed the appeal against the deletion of income tax addition for share or bogus purchases or cash deposits and held that appe.....

Tags : Delhi High Court, Deletion of Income Tax Addition



ITAT, Mumbai: Claim Of Deduction to be Reckoned From Date of Possession of New Property(11.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that an assessee's claim of deduction under Section 54 of the Income Tax Act, 1961 was to be reckoned .....

Tags : Income Tax Appellate Tribunal, Possession of New Property



ITAT, Mumbai: Payment to Foreign Company for Utilisation of Transponder of Satellite Not Royalty(11.03.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai ruled that the payment made to a foreign company for the utilisation of a transponder centred on a satell.....

Tags : Income Tax Appellate Tribunal, Utilisation of Transponder of Satellite



ITAT, Delhi: Accessing Premises for Technical Assistance Can't Be Treated as Permanent Establishment(11.03.2022)

Income Tax Appellate Tribunal, Delhi has held that access to a foreign enterprise for providing technical assistance to its Joint Venture Company in i.....

Tags : Income Tax Appellate Tribunal, Accessing Premises for Technical Assistance



ITAT, Dehradun: Interest on Income Tax Refund Not on Permanent Establishment Not Business Income(14.03.2022)

Income Tax Appellate Tribunal, Dehradun has ruled that interest on income tax refund received by a foreign enterprise is not effectively connected to .....

Tags : Income Tax Appellate Tribunal, Interest on Income Tax Refund



ITAT, Mumbai: LTCG on Penny Stock Transaction Cannot be Denied Exemption(15.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that long term capital gains arising from a penny stock transaction cannot be denied exemption under t.....

Tags : Income Tax Appellate Tribunal, LTCG on Penny Stock Transaction



ITAT, Bangalore: Flight Testing Services Cannot be Taxed as Fees for Technical Services(16.03.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that flight testing services provided to Hindustan Aeronautics Limited cannot be taxed as fees for .....

Tags : Income Tax Appellate Tribunal, Flight Testing Services



ITAT, Delhi: Belated Payment of Employees Contribution to Provident Fund and Insurance Scheme(17.03.2022)

Income Tax Appellate Tribunal, Delhi has ruled that belated payment of employees' contribution to the Provident Fund and State Insurance Scheme cannot.....

Tags : Income Tax Appellate Tribunal, Belated Payment of Employees Contribution



ITAT, Kolkata: Contributions Made After Statutory Due Date Shall be Allowable as Deduction(22.03.2022)

Income Tax Appellate Tribunal (ITAT), Kolkata has allowed relief to Deloitte Haskins & Sells, holding that the contributions made after the statutory .....

Tags : Income Tax Appellate Tribunal, Contributions Made After Statutory Due Date



ITAT, Kolkata: Commissioner Cannot Point Out Issues Other Than Issue Taken Up by AO(22.03.2022)

Income Tax Appellate Tribunal, Kolkata has held that the Commissioner, while invoking his jurisdiction under section 263 of the Income Tax Act, 1961 c.....

Tags : Income Tax Appellate Tribunal, Commissioner, Issues



ITAT, Delhi Deletes Penalty Since Non-Deduction of Tax was Due to Non-Receipt of Invoices(23.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has deleted a penalty order under section 271C of the Income Tax Act, 1961 by holding that the non-deducti.....

Tags : Income Tax Appellate Tribunal, Non-Deduction of Tax



ITAT, Agra: No Late Fee for Failure to File TDS/TCS Returns Prior to 1st June(24.03.2022)

Income Tax Appellate Tribunal, Agra has held that the late fee shall not apply under section 234E of the Income Tax Act, 1961 for the failure to file .....

Tags : Income Tax Appellate Tribunal, Failure to File TDS/TCS Returns



ITAT: Customs House Agent Bound to Pay TDS on Payment to CFS Agents(25.03.2022)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the Customs House Agent bound to pay TDS under section 194C of the Income Tax Act, 1961 on.....

Tags : Income Tax Appellate Tribunal, TDS on Payment to CFS Agents



ITAT, Delhi: Subscriber Fee Not Taxable as Royalty as Per India-Singapore DTAA(28.03.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscriber fee would not be taxable as royalty as per the India-Singapore Double Taxation Avoid.....

Tags : Income Tax Appellate Tribunal, Subscriber Fee



ITAT, Delhi: Subscriber Fee Not Taxable as Royalty as Per India-Singapore DTAA(28.03.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscriber fee would not be taxable as royalty as per the India-Singapore Double Taxation Avoid.....

Tags : Income Tax Appellate Tribunal, Subscriber Fee



ITAT, Ahmedabad: Amount Received from HUF Not in Nature of Gift and Shall Not be Taxable(28.03.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that the amount received by the assessee from its HUF which is not in the nature of gift or received.....

Tags : Income Tax Appellate Tribunal, Amount Received from HUF



ITAT, Ahmedabad: IBC to Have Overriding Effect Over Income Tax Proceedings(28.03.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that since the Insolvency and Bankruptcy Code, 2016 has overriding effect over the income tax.....

Tags : Income Tax Appellate Tribunal, Income Tax Proceedings, Liquidation



ITAT, Delhi: Performance Guarantee Commission is Not Business Income Under DTAA(29.03.2022)

Income Tax Appellate Tribunal, Delhi has observed that performance guarantee commission by an assessee from its foreign Associated Enterprise is not i.....

Tags : Income Tax Appellate Tribunal, Double Taxation Avoidance Agreement, Assessee, Income Tax



ITAT, Delhi: Penalty Notice Issued Without Applying Mind in Stereotyped manner is Not Valid(30.03.2022)

Income Tax Appellate Tribunal, Delhi has observed that a penalty notice issued in a stereotyped manner under section 271(1)(c) of the Income Tax Act, .....

Tags : Delhi Income Tax Appellate Tribunal, stereotyped, Section 271(1)(c) of the Income Tax Act, 1961



ITAT, Delhi: Registration of Trust is Deemed in Absence of Refusal of Registration(31.03.2022)

Income Tax Appellate Tribunal, Delhi has held that trust is deemed to be registered under section 12AA of the Income Tax Act, 1961 in the absence of r.....

Tags : Income Tax Appellate Tribunal, section 12AA, 6 months



ITAT, Bangalore: Delay in Filing Form 67 Cannot be Reason to Deny Foreign Tax Credit(31.03.2022)

Income Tax Appellate Tribunal, Bangalore has observed that Rule 128 of the Income Tax Rules which requires the assessee to submit Form 67 before filin.....

Tags : Income Tax Appellate Tribunal, Rule 128 of the Income Tax Rules, filing Form 67, Form 67, Foreign Tax Credit



Delhi High Court Holds That Assessee Is Eligible For Immunity and Tax Payer Should Be Incentivised(01.04.2022)

Delhi High Court has ruled that the action of income tax authorities to deny the benefit of immunity from penalty under Section 270AA of Income Tax Ac.....

Tags : Delhi High Court, Section 270AA of Income Tax Act, 1961, Section 270A, Tax Payer



Kerala HC: Non Release of Seized Documents in Supreme Court is Illegal(01.04.2022)

Kerala High Court has held that the income tax department is unauthorized to retain the seizure of title deeds under Section 132 of the Income Tax Act.....

Tags : Kerala High Court, income tax department, title deeds, Section 132 of the Income Tax Act, 1961, Special Leave Petition



ITAT, Delhi: Payment to Microsoft for Software Purchase Does Not Amount to Royalty(04.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the assesee, HP Services (Singapore) cannot be taxed for royalty as per the Indo-Singapore Doub.....

Tags : Income Tax Appellate Tribunal, HP Services, Indo-Singapore, Double Taxation Avoidance Agreement, Microsoft company



ITAT, Delhi: Non-Appearance Before Authorities to Imply Assessee Has Nothing to Rebut(04.04.2022)

Income Tax Appellate Tribunal Delhi has observed that the income tax proceedings are attached with the presumption of truth and the non-appearance bef.....

Tags : Income Tax Appellate Tribunal, income tax proceedings, presumption of truth, rebut



ITAT, Mumbai: Order of Assessment without Reasons, Not Erroneous or Prejudicial to Interest of Revenu(04.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that action of the Assessing Officer to accept the explanation submitted by the Assessee during scr.....

Tags : Income Tax Appellate Tribunal, Assessing Officer, Assessee



Calcutta HC Quashes Re-Assessment Passed Without Application of Mind(04.04.2022)

Calcutta High Court has observed that the re-assessment passed under section 148 of the Income Tax Act, 1961 without the application of mind is not su.....

Tags : Calcutta High Court, section 148 of the Income Tax Act, 1961, Quashment of Re-Assessment



ITAT, Mumbai: Amount Spent on Consumable Items can’t be Claimed as Improvement Cost(04.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the amount spent on consumable items including sofa, tiles, etc., can’t be claimed as cost .....

Tags : Income Tax Appellate Tribunal, improvement cost, Income Tax Act, 196, capital gain



ITAT, Mumbai: Revisional Jurisdiction Can’t be Invoked , Order of Assessment Without Reasons(04.04.2022)

Income Tax Appellate Tribunal, Mumbai, has observed that the revisional jurisdiction under section 263 of Income Tax Act, 1961 cannot be invoked while.....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, Section 263 of the Income Tax Act, 1961, M/s Reliance Payment Solutions Pvt Ltd



Gujarat HC: No Show Cause Notice Issued Along With Draft Assessment Order u/s 144B(04.04.2022)

Gujarat High has observed that the issuance of a show cause notice along with the draft assessment order is absolutely important before passing an ord.....

Tags : Gujarat High Court, draft assessment order, Section 144B of the Income Tax Act



Calcutta HC: Reasons Recorded in 142(1) Notice Not Existing at Issue of Re-Assessment Notice(05.04.2022)

Calcutta High Court has observed that the reasons mentioned in the notice under Section 142(1) and Section 147 of the Income Tax Act, 1961 were not ex.....

Tags : Calcutta High Court, Section 142(1), Section 147 of the Income Tax Act, 1961, re-assessment notice



ITAT, Delhi: Income Tax Penalty Cannot be Imposed Unless Assessee Obliged In Law(05.04.2022)

Income Tax Appellate Tribunal, Delhi observed that the penalty of income tax under section 271(1)(c) of the Income Tax Act, 1961 cannot be obligatory .....

Tags : Income Tax Appellate Tribunal, Delhi, income tax, section 271(1)(c) of the Income Tax Act, 1961, assessee



ITAT, Delhi Upholds Order Against Gandhi Family on Commercial Immovable Property(06.04.2022)

Income Tax Appellate Tribunal, Delhi has upheld the case against the Gandhi family in relation with commercial immovable properties worth more than Rs.....

Tags : Income Tax Appellate Tribunal, Gandhi family, commercial immovable properties, Rs 800 crore, Young Indian, share capital of Rs 5 lakh, hawala entry, Rs 1 crore



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Depreciation not Allowable On Non-Compete Fee(06.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the depreciation is not allowable on non-compete fee under section 32 of the Income Tax Act, 19.....

Tags : Income Tax Appellate Tribunal, depreciation, non-compete fee, section 32 of the Income Tax Act, 1961



ITAT, Mumbai: Provisions of Black Money Act Cannot be Invoked for Minor Breach of Law(06.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has observed that the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Impositio.....

Tags : Income Tax Appellate Tribunal, Black Money Act



ITAT, Kolkata: Limitation for Revisionary Jurisdiction Runs from Assessment Date Order(06.04.2022)

Income Tax Appellate Tribunal, Kolkata has observed that the limitation period for exercising revisionary jurisdiction runs from the date of assessmen.....

Tags : Income Tax Appellate Tribunal, Kolkata, limitation period, revisionary jurisdiction, assessment order, Section 263 of Income Tax Act, 1961



Delhi HC: Collection of Service Charges from Donors Cannot Be Ground to Deny Tax Exemption(07.04.2022)

Delhi High Court has observed that the collection of service charges by India HIV AIDS Alliance from the donors cannot be treated as a reason to deny .....

Tags : Delhi High Court, service charges, India HIV AIDS Alliance, section 11, Income Tax Act, 1961, section 12



Chhattisgarh HC: Assessing Officer Failed to Record Reason for Issue of Notice u/s 148(07.04.2022)

Chhattisgarh High Court has quashed a notice on grounds that the Assessing Officer had failed to record the reason for issue of notice under section 1.....

Tags : Chhattisgarh High Court, section 148 of the Income Tax Act, 1961, Assessing Officer



ITAT, Delhi: No Liability to Deduct TDS on Payments Made by Lenskart to Facebook Ireland(07.04.2022)

Income Tax Appellate Tribunal, Delhi has upheld the order passed by Commissioner of Income Tax (Appeals) by deleting additions of over Rs. 67 Lakhs ma.....

Tags : Income Tax Appellate Tribunal, Sixty Seven Lakhs, Lenskart's, Tax Deducted at Source, Facebook, Ireland



Supreme Court: Mere Amalgamation Would Not invalidate Income Tax Proceedings(07.04.2022)

Supreme Court has held that whether corporate death of amalgamating entity upon amalgamation invalidates an order of assessment issued under the Incom.....

Tags : Supreme Court, amalgamation, Income Tax Act, 1961, Section 481 of the Companies Act, 1956



ITAT, New Delhi: Interest on Enhanced Compensation Does Not Come u/s 56 IT Act(08.04.2022)

Income Tax Appellate Tribunal( ITAT ), New Delhi has observed that received interest on enhanced compensation does not comes under income from other s.....

Tags : Income Tax Appellate Tribunal, received interest, enhanced compensation, Tax Deduction at Source, section 194A of the income tax act, 1961



ITAT, Mumbai: Non-Disclosure of Foreign Asset in ITR Not Valid Reason for Imposition of Penalty(08.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has observed that non disclosing of a foreign asset in the income tax return, by itself, is not a valid r.....

Tags : Income Tax Appellate Tribunal, foreign asset, income tax return, Black Money Act, assessee



ITAT, Mumbai: Payment for Transponder Services Not Amount to Royalty(08.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the payment for transponder services would not amount to royalty under the provisions of Incom.....

Tags : Income Tax Appellate Tribunal, transponder services, royalty, Income Tax, Double Taxation Avoidance Agreements



ITAT, Pune: Capital Gain Exemption u/s 54F for Purchase of Office Premises not available(08.04.2022)

Income Tax Appellate Tribunal, Pune has observed that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available in the.....

Tags : Income Tax Appellate Tribunal, capital gain exemption, Income Tax Act, 1961, office premises



ITAT, Mumbai: Revisional Jurisdiction Invoked for Lack of Inquiry, Not for Inadequate Inquiry(08.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the revisional jurisdiction can be invoked only for lack of inquiry and not for inadequate inquir.....

Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction, lack of inquiry, section 263, Income Tax Act, 1961



ITAT, Mumbai: Payment for Transponder Services Does Not Amount to Royalty(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the payment for transponder services would not amount to royalty under the provisions of Incom.....

Tags : Income Tax Appellate Tribunal, transponder services, royalty, Income Tax Law, Double Taxation, Avoidance Agreements



ITAT, Pune: Exemption of Capital Gain u/s 54F not available for Purchase of Office Premises(11.04.2022)

Income Tax Appellate Tribunal, Pune has observed that the exemption of capital gain under section 54F of the Income Tax Act, 1961 is unavailable if th.....

Tags : Income Tax Appellate Tribunal, capital gain, section 54F of the Income Tax Act, 1961, sale consideration



ITAT, Mumbai: Revisional Jurisdiction Can be Invoked for Lack of Inquiry, Not for Inadequate Inquiry(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked only .....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, section 263 of the Income Tax Act, 1961, lack of inquiry, inadequate inquiry



ITAT, Vishakhapatnam: Use of Agricultural Produce for Feeding Children is Charitable Activity(11.04.2022)

Income Tax Appellate Tribunal, Vishakhapatnam has observed that the activity of agricultural products for feeding children in the orphanage is charita.....

Tags : Income Tax Appellate Tribunal, agricultural products, charitable, orphanage, charitable society



ITAT, Mumbai: Corpus Donations by Un-Registered Trust Considered as Capital Receipt(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that Corpus Donations received by an un-registered trust will be under the purview of Capital Recei.....

Tags : Income Tax Appellate Tribunal, Corpus Donations, Capital Receipt



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....

Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....

Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain



Supreme Court Upholds Constitutional Validity of Amendments Related to Charitable Trust Registration(11.04.2022)

Supreme Court has upheld the constitutional legality of the recent amendments made in the Finance Act, 2020 with regard to the new provisions regardin.....

Tags : Supreme Court, constitutional legality, Finance Act, 2020, Income Tax Act, 1961, religious trusts



ITAT, Bangalore: No Rationale in Making Additions to Income on Violation of RBI Notifications(11.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that there is no rationale in the action of the Assessing Officer of making additions to income .....

Tags : Income Tax Appellate Tribunal, rationale, Assessing Officer, assesse, Section 68 of the Income Tax Act, 1961, Reserve Bank of India



ITAT, Bangalore: Agricultural Land Not Converted at Time of Sale Not Included as Capital Gain(11.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that since the agricultural land was not converted at the time of sale, the sale consideration s.....

Tags : Income Tax Appellate Tribunal, agricultural land, sale consideration, Income Tax Act, 1961, assessee



ITAT, Mumbai: Depreciation Allowable on Marketing Information and Non-Compete Fee(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the depreciation is allowable on intangible assets such as marketing information comprising of.....

Tags : Income Tax Appellate Tribunal, depreciation, intangible, marketing information, Commercial information, Customer data, Distribution network, Suppliers contract, Non-compete fees



ITAT, Mumbai: Circular Due to Difficulties in E-filing Software Can’t be Relied(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the private discretionary trust shall be treated as AoP and has rejected the plea of the assessee.....

Tags : Income Tax Appellate Tribunal, AoP, CBDT, software, private discretionary trust



Delhi HC: Exemption Cannot be Denied to Charitable Entity for Advertising Scholarship(12.04.2022)

Delhi High Court has observed that the exemption under the provisions of the Income Tax Act, 1961 can’t be denied to a charitable entity merely becaus.....

Tags : Delhi High Court, exemption, Income Tax Act, 1961, scholarship



Delhi HC Dismisses Tax Appeals Against Moser Baer in View of Liquidation Proceedings(12.04.2022)

Delhi High Court has dismissed the appeals against Moser Baer, filed by the income tax department in the light of the liquidation proceedings pending .....

Tags : Delhi High Court, Moser Baer, Liquidation Proceedings, income tax department, National Company Law Tribunal



Delhi HC: Sufficiency or Correctness of Material Need not be Considered During Issue of Notice(12.04.2022)

Delhi High Court has observed that the sufficiency or correctness of the material is not a thing to be considered at the stage of issue of notice unde.....

Tags : Delhi High Court, Section 148 of the Income Tax Act, 1961



Delhi HC: Scholarship by Hamdard Foundation Eligible for Exemption Under Income Tax Act(12.04.2022)

Delhi High Court has upheld the factual findings that the merit-cum scholarship/financial assistance provided by Hamdard National Foundation was not c.....

Tags : Delhi High Court, factual findings, merit-cum scholarship, financial assistance, Hamdard National Foundation, Section 11 of Income Tax Act, 1961



ITAT, Delhi Deletes Penalty Against Lahmeyer Holding GambH(12.04.2022)

Income Tax Appellate Tribunal , Delhi has granted relief to Lahmeyer holding that the penalty cannot be levied based on fact that the assessee under s.....

Tags : Income Tax Appellate Tribunal, Lahmeyer Holding GambH, section 44BBB of the Income Tax Act, 1961, permanent establishment, bonafide



Bombay HC: Re-Assessment at Behest of Audit Party Invalid(13.04.2022)

Bombay High Court has observed that the re-assessment under section 147 of the Income Tax Act, 1961 is bad in law since the same was at the request of.....

Tags : Bombay High Court, section 147 of the Income Tax Act, 1961, audit party



ITAT, Mumbai: Assessing Officer Cannot Make Addition on Basis of Suo-Moto Disclosure of Assessee(15.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the Assessing Officer cannot make any addition to assessee's income on the basis of the suo-moto .....

Tags : Income Tax Appellate Tribunal, Addition on Basis of Suo-Moto Disclosure



ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....

Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt



ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....

Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt



ITAT, Bangalore Allows Capital Gain Exemption Since Sale Deed was Registered Within Given Time(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the date of completion of construction of new property is immaterial to allow exemption und.....

Tags : Income Tax Appellate Tribunal, section 54F, Income Tax Act, 1961, statutory period



ITAT, Delhi: No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency(18.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on rece.....

Tags : Income Tax Appellate Tribunal, Cash loan, Business Exigency



ITAT, Bangalore: Payment of Sub Contracting Charges to Subsidiary Liable to TDS(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that payment of sub-contracting charges to subsidiary is liable to Tax Deduction at Source.

Tags : Income Tax Appellate Tribunal, Tax Deduction at Source, sub-contracting charges



ITAT, Chennai: Mere Mistake in Filing of Income Tax Return Not Effect in Enhancement of Income(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that a mere mistake in the filing of return of income would not result into income enhancement of .....

Tags : Income Tax Appellate Tribunal, assessee, filing of return



ITAT, Chennai: Penalty Can’t be Levied Based on Estimate Addition(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that the order of penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied mer.....

Tags : Income Tax Appellate Tribunal, section 271(1)(c) of the Income Tax Act, 1961



ITAT, Delhi: TDS u/s 194D Inapplicable to Reinsurance Commission(18.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the provisions of Tax Deducted at Source under section 194D of the Income Tax Act, 1961 is not.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, section 194D of the Income Tax Act, 1961



ITAT, Delhi: Framing of Reassessment u/s 147 of IT Act against Non-Existing Entity Void Ab-initio(18.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the re-assessment under section 147 and section 143(3) of the Income Tax Act, 1961 is not sustaina.....

Tags : Income Tax Appellate Tribunal, section 147, section 143(3) of the Income Tax Act, 1961



ITAT, Bangalore: Service Tax Collected But Not Remitted Can be Disallowed u/s 43B of Income Tax Act(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the amount of service tax collected under section 43B of the Income Tax Act, 1961 but not remi.....

Tags : Income Tax Appellate Tribunal, service tax, section 43B of the Income Tax Act, 1961



ITAT, Chennai: Provisions of Sec 44AD Not Applicable to Commission Agents(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that the provisions of Section 44AD of the Income Tax Act, 1961 cannot be applied to commission ag.....

Tags : Income Tax Appellate Tribunal, Section 44AD of the Income Tax Act, 1961, commission agents



ITAT, Delhi: No TDS Required to be Deducted on Enhanced Compensation Under Land Acquisition Act(19.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the interest on enhanced compensation awarded to land owners by the Court under Section 28 of the L.....

Tags : Income Tax Appellate Tribunal, enhanced compensation, Section 28 of the Land Acquisition Act, 1894, Tax Deducted at Source



ITAT, Delhi: Suppression in Net Sales as Business Income, Can’t be Treated As Deemed Income(19.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the income surrendered for suppression in the net sales shall be assessable as Income from Busines.....

Tags : Income Tax Appellate Tribunal, Suppression in Net Sales, Business Income



ITAT, Delhi: Fulfillment of Twin Conditions is Mandatory for Invoking Jurisdiction u/s 263(19.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that fulfillment of twin conditions is obligatory for invoking the jurisdiction under section 263 of.....

Tags : Income Tax Appellate Tribunal, section 263 of the Income Tax Act, 1961, jurisdiction



ITAT, Bangalore: Corporate Guarantee Falls Within Ambit of International Transaction(19.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that corporate guarantee falls within the extent and ambit of international transaction and Arm’.....

Tags : Income Tax Appellate Tribunal, Arm’s Length Price, international transaction



ITAT, Delhi: Royalty Cannot be Endorsed to Providing Customized Research Advisory Services(19.04.2022)

Income Tax Appellate Tribunal; Delhi has observed that customized research advisory services are not taxable under the head Royalty under the relevant.....

Tags : Income Tax Appellate Tribunal, Royalty, Income Tax Act, 1961, customized research advisory services



ITAT, Delhi Restricts Addition Only on Embedded Portion of Profit(19.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the addition due to mismatch amid the Books of Accounts and Form 26AS can be made only on the e.....

Tags : Income Tax Appellate Tribunal, Books of Accounts, Form 26AS, embedded profit portion



ITAT, Ahmedabad: Assessing Officer Cannot Interfere With Business Decisions of Assessee(20.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that the Assessing Officer cannot interfere with the business decisions of the assessee.

Tags : Income Tax Appellate Tribunal, Assessing Officer, assessee



ITAT, Ahmedabad: TDS on Car Hiring Charges Paid Above Rs. 1.8 Lakhs U/S 194I of Income Tax Act(20.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that charges of car hiring falls under the provision of section 194I of the Income Tax Act, 1961.....

Tags : Income Tax Appellate Tribunal, section 194I of the Income Tax Act, 1961, Rs. 1.8 lakhs, Tax Deducted at Source



ITAT, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return(20.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of adv.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, advance tax installment, advance pricing agreement



ITAT, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return(20.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of adv.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, advance tax installment, advance pricing agreement



ITAT Hyderabad: Ignorance of Law Concerning Compulsory Audit Not Reasonable for Deleting Penalty(21.04.2022)

Income Tax Appellate Tribunal, Hyderabad has held that mere ignorance of law under Section 44AB of the Income Tax Act, 1961 for compulsory audit of ac.....

Tags : Income Tax Appellate Tribunal, ignorance of law, Section 44AB of the Income Tax Act, 1961, Section 273B



Chhattisgarh HC: Issuance of Reassessment Notice Valid on Ground Disclosure of Bogus Purchase Bills(21.04.2022)

Chhattisgarh High Court has observed that the reassessment notice under Section 148 of the Income Tax Act,1961 is valid on the grounds of disclosure p.....

Tags : Chhattisgarh High Court, reassessment, Section 148 of the Income Tax Act,1961, bogus



ITAT, Ahmedabad: Higher Rate of Depreciation Available to Vehicles Let Out on Hire(22.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the assessee can avail higher rate of depreciation that is accessible to vehicles to let out o.....

Tags : Income Tax Appellate Tribunal, assessee, higher rate, depreciation



ITAT, Ahmedabad: Payments to Medical Labs for Screening of Sickle Cell Anemia Subject to TDS(22.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that under sections 194J and 194C of the Income Tax Act, 1961 is applicable to the payments made to .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, sickle cell anemia, medical labs



ITAT, Chennai: No TDS on Advertisement Expenses Paid to Online Platforms(22.04.2022)

Income Tax Appellate Tribunal, Chennai, while granting relief to Matrimony.com, has held that Tax Deducted at Source shall not be paid on advertisemen.....

Tags : Income Tax Appellate Tribunal, Matrimony.com, Tax Deducted at Source, advertisement expenses, Facebook Ireland



ITAT, Delhi: No TDS Since Routine Business Support Services Can’t be Treated as Fee for Technical Ser(25.04.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has has held that routine business support services are not taxable as fees for technical services (FTS) s.....

Tags : Income Tax Appellate Tribunal, Routine Business Support Services



ITAT, Mumbai: Remuneration Paid to Partner Out of Profit Cannot be Treated as Salary(25.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the remuneration paid to Partner out of the share of profit cannot be treated as salary to .....

Tags : Income Tax Appellate Tribunal, Remuneration



Central Government notifies 'SEEPZ Special Economic Zone Authority' as an Authority constituted under the Special Economic Zone Act, 2005(20.04.2022)

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....

Tags : Special Economic Zone, Income Tax Act



Delhi HC Directs Revenue to Grant Immunity Under Section 270AA(26.04.2022)

Delhi High Court has observed that the assessee cannot be prejudiced by the inaction of the Assessing Officer, directing the revenue to grant immunity.....

Tags : Delhi High Court, Section 270AA of the Income Tax Act, 1961, Assessing Officer



ITAT, Mumbai: Deemed Dividend Would Not Attract Loans and Advances Out of Commercial Consideration(26.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would be .....

Tags : Income Tax Appellate Tribunal, Deemed Dividend, Section 2(22)(e), Income Tax Act, 1961



ITAT, Bangalore: Digital Data Recovered During Search has Evidentiary Value(27.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the digital data recovered by the income tax department has evidentiary value during the se.....

Tags : Income Tax Appellate Tribunal, digital data, income tax department, Income Tax Act, 1961



ITAT, Kolkata: Adjudicating Authorities Cannot Grant Approval U/S 10(23C) With Retrospective Effect(27.04.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the adjudicating authorities under the Income Tax Act, 1961 cannot grant approval under section .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, section 10(23C), retrospective



ITAT, Delhi: Fee for Cloud Services Not Royalty(27.04.2022)

Income Tax Appellate Tribunal, Delhi while granting relief to a subsidiary company of Information Technology giant Microsoft Corporation, Ministry of .....

Tags : Income Tax Appellate Tribunal, Information Technology, Microsoft Corporation, Ministry of Law Corporation, subscription fee, royalty, cloud computing



ITAT, Mumbai: IT Law Doesn't Bar Assessing Officer to go Beyond Reasons Where Re-Assessment Initiated(28.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that there is no bar under the law that the Assessing Officer is entitled to confine assessment on .....

Tags : Income Tax Appellate Tribunal, Assessing Officer, Income Tax Act, 1961, sections 147, sections 148



ITAT, Bangalore: Transactions Between Trust and Trustee Not Covered U/S 269SS of Income Tax Act(28.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the managing trustee of the society is not covered by the expression any other persons stirrin.....

Tags : Income Tax Appellate Tribunal, section 269SS, 269T of the Income Tax Act, 1961



ITAT, Mumbai: Data Retrieved From Pen Drive Can’t be Sole Evidence For Re-Assessment(28.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the data retrieved from the pen drive seized during the search can’t be a sole basis for re-assess.....

Tags : Income Tax Appellate Tribunal, data retrieved, Income Tax Act, 1961, section 147, section 148, section 65B (4), Indian Evidence Act, 1872



SC: No Deemed Registration in Case of Non-deciding of S. 12AA Application(28.04.2022)

Supreme Court has observed that there cannot be a deemed registration in case of non-deciding of an application filed under section 12AA (2) of the In.....

Tags : Supreme Court, section 12AA (2), Income Tax Act, 1961, deemed registration



Calcutta HC: Income Tax Dues of Company Couldn’t Recover Post-Liquidation(28.04.2022)

Calcutta High Court has upheld the notices issued against two directors of the Company by allowing for the fact that the income tax department was una.....

Tags : Calcutta High Court, garnishee notices, Income tax department, liquidation process



ITAT, Jaipur: FDRs Interest Made for Business Purposes Shall be Treated as Business Income(29.04.2022)

Income Tax Appellate Tribunal, Jaipur has ruled that the interest income received from the Fixed Deposit Receipt made for business purposes and for ge.....

Tags : Income Tax Appellate Tribunal, Fixed Deposit Receipt, Income from Other Sources, Income Tax Act, 1961



ITAT, Bangalore: Assessee Couldn’t Submit Evidence for Payment of Brokerage for Sale of Property(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has permitted 1% of the sale consideration as brokerage for the sale of the property since the assessee could.....

Tags : Income Tax Appellate Tribunal, brokerage, Income Tax Act, 1961, assessee



ITAT, Mumbai: No TDS on Payments to Foreign Insurers, Rules(29.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that any payment prepared by the assessee company to such foreign insurers would not be chargeable .....

Tags : Income Tax Appellate Tribunal, Section 195(1), Income Tax Act, 1961, foreign insurers



ITAT, Delhi: Subscription Fee Towards Cloud Services Not Taxable as Royalty(29.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscription fee received towards Cloud Services is not taxable as royalty.

Tags : Income Tax Appellate Tribunal, Cloud Services, subscription fee, royalty



ITAT, Bangalore: Income Tax Penalty Can’t be Imposed on Expenditure Due to Wrong Professional Advice(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the income tax penalty under section 271(1) of the Income Tax Act, 1961 cannot be imposed for .....

Tags : Income Tax Appellate Tribunal, income tax, section 271(1), Income Tax Act, 1961, Chartered Accountant



ITAT, Bangalore: Subsidy Expenditure Does Not Attract TDS Provision(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that subsidy expenditure not attracts Tax Deducted at Source provision and set asides the order dis.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, Section 40(a)(ia), Income Tax Act, 1961



ITAT, Chennai: Subscription Money received From Customers Shall be Treated as Deferred Income(29.04.2022)

Income Tax Appellate Tribunal, Chennai has ruled that the subscription monies received in advance by the Company shall be treated as deferred income a.....

Tags : Income Tax Appellate Tribunal, subscription monies, deferred income, methodology



ITAT, Delhi: Revisional Jurisdiction Can be Invoked in Very Gross Case of Inadequacy in Inquiry(29.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked in a very.....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, section 263, Income Tax Act, 1961



ITAT, Delhi: Amount from Indian Associate for Support Service is not Fees and not liable to Tax(02.05.2022)

Income Tax Appellate Tribunal, Delhi has observed that amount expected from Indian Associate for Support Service is not Fees for Included Services and.....

Tags : Income Tax Appellate Tribunal, Indian Associate, Support Service



ITAT, Lucknow: Clerical Mistake in Audit Report Form 10B Can be Rectified(02.05.2022)

Income Tax Appellate Tribunal, Lucknow has observed that the clerical mistakes in audit report form 10B can be rectified and the same should not be a .....

Tags : Income Tax Appellate Tribunal, form 10B, Audit Report



ITAT, Delhi: Amendments to Sections 43B and 36(1)(va) IT Act Can’t Have Retrospective Effect(02.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the amendments to sections 43B and 36(1)(va) of the Income Tax Act, 1961 cannot have retrospective.....

Tags : Income Tax Appellate Tribunal, sections 43B, sections 36(1)(va), Income Tax Act, 1961, retrospective effect



Delhi HC: Writ Remedy Cannot be Invoked in Tax Matters(02.05.2022)

Delhi High Court has held that the writ remedy under Article 226 of the Indian Constitution cannot be invoked in tax matters as the Income Tax Act, 19.....

Tags : Delhi High Court, article 226, Indian Constitution, Income Tax Act, 1961



ITAT, Cuttack: Source of Money Cannot be Doubted if Fixed Deposits Are Made Out of Savings(02.05.2022)

Income Tax Appellate Tribunal, Cuttack has observed that the cause of money cannot be doubted if the fixed deposits are made out of the savings of the.....

Tags : Income Tax Appellate Tribunal, fixed deposits, assessee



ITAT, Bangalore: Irrecoverable Advances for Land for Real Estate Development Business Allowable(02.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the advances agreed for purchase of land in the normal course of business of carrying on real .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Real estate development



ITAT, Bangalore: Non-Appearance of Assessee During Hearing Can’t be Reason to Recall Tribunal Order(02.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the Tribunal cannot recall an order by invoking Rule 25 of the Appellate Tribunal Rules, 1963 .....

Tags : Income Tax Appellate Tribunal, Rule 25, Appellate Tribunal Rules, 1963, assessee



ITAT, Ahmedabad: Undisclosed Sale Consideration of Property Can Only Assessable as Capital Gain(02.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the undisclosed sale consideration of the property can be subjected to tax as capital gain und.....

Tags : Income Tax Appellate Tribunal, capital gain, section 48, Income Tax Act, 1961, Undisclosed sale consideration



Bombay HC: Assessee Deprived of Refund Due to Wrongful Withholding of Amount by Income Tax Dept(03.05.2022)

Bombay High Court has allowed 6% interest to the assessee on wrongful withholding of the amount by the income tax department.

Tags : Bombay High Court, 6% interest, assessee, income tax department



ITAT, Bangalore: Wife Eligible for Capital Gain release if Money Given for Acquisition of Property(03.05.2022)

Income Tax Appellate Tribunal, Bangalore has held that the wife is eligible for capital gain exemption regarding the money given for the acquisition o.....

Tags : Income Tax Appellate Tribunal, reimbursement, capital gain, acquisition



ITAT, Ahmedabad: CIT(A) Shall Condone Delay and Dispose Appeal on Merits(03.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the Commissioner (Appeals) shall condone the delay and dispose the appeal on merits if the ass.....

Tags : Income Tax Appellate Tribunal, malafide manner, assessee



ITAT, Ahmedabad: Additions Cannot be Made to Assessee's Income on Basis of Document(03.05.2022)

Income Tax Appellate Tribunal , Ahmedabad has held that additions cannot be made to assessee's taxable income on the basis of documents that are decla.....

Tags : Income Tax Appellate Tribunal , Customs Excise and Service Tax Appellate Tribunal, service tax



ITAT, Ahmedabad: Deemed Rent Inapplicable to Property That is Stock-in-Trade(03.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the concept of deemed rent can’t be applicable to the properties which are treated as stock-in.....

Tags : Income Tax Appellate Tribunal, stock-in-trade, deemed rent



Delhi HC: ITAT Final Arbiter of Facts, Its Order Can be Interfered Only if There is Question of Law(03.05.2022)

Delhi High Court has observed that the High Court can interfere with its order only if there is substantial question of law or there is manifest illeg.....

Tags : Delhi High Court, Income Tax Appellate Tribunal



ITAT, Delhi: Assessing Officer Cannot Apply Wrong Method in Lack of Audited Financials of AE(04.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Assessing Officer cannot give benefit to the assessee for non-cooperation in providing audited.....

Tags : Income Tax Appellate Tribunal, associated enterprises, Assessing Officer



ITAT, Bangalore: TDS Not Applicable to Commission for Professional Service by Non Resident(04.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that Tax Deduction at Source is not applicable to commission for professional service by Nonresiden.....

Tags : Income Tax Appellate Tribunal, Tax Deduction at Source, professional service



Madras HC: Initiation of Malicious Prosecution by Income Tax Dept. is Abuse of Power(04.05.2022)

Madras High Court has ruled that the suppression of material facts, the intentional suggestion of falsehood and the non-application of mind shows that.....

Tags : Madras High Court, Income Tax department, malicious prosecution, falsehood



Supreme Court Uphold Over 90,000 Re-Assessment Notices Deeming them as Sec 148A Notices(05.05.2022)

Supreme Court upheld the reassessment notices under Section 148 of the unamended Income Tax Act which were issued beyond 01.04.2021 (the effective dat.....

Tags : Reassessment Notices, Income Tax Act, Section 148A, Supreme Court



ITAT: Outstanding Balances cannot be treated as ‘Bogus’ when Payment made through Banking Channels(05.05.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has observed that the outstanding balances cannot be suspected as bogus when the payments to par.....

Tags : Income Tax Appellate Tribunal , Bogus Payments



ITAT, Mumbai Deletes Transfer Pricing Adjustment on International Transaction(06.05.2022)

Income Tax Appellate Tribunal, Mumbai while ruling that Transfer Pricing Officer (TPO) has adopted the wrong Gross Profit Margin of the comparable com.....

Tags : Income Tax Appellate Tribunal, Transfer Pricing Officer, Gross Profit Margin, Transfer pricing



ITAT, Delhi: AO Cannot Apply Wrong Method to Determine Profit in Absence of Audited Financials(06.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Assessing Officer cannot give benefit to the assessee for non-cooperation in providing audited.....

Tags : Income Tax Appellate Tribunal, Assessing Officer, audited financials



ITAT: Capital Gain Exemption Can't be Denied For Presence of Husband's Name in Purchase Document(06.05.2022)

Income Tax Appellate Tribunal, Bangalore has held that the capital gain exemption cannot be denied to the wife for the mere presence of the husband's .....

Tags : Income Tax Appellate Tribunal, capital gain, purchase document



Allahabad HC: Reassessment Order Not Valid If Notice by Assessing Authority Is Without Jurisdiction(09.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961 issued by the assessing authority was declared withou.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, re-assessment order



ITAT: Salary Reimbursement based on Cost to Cost Cannot Attract TDS Liability u/s 195(09.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that Tax Deduction at Source is not applicable to reimbursement of salary based on the cost to cost.....

Tags : Income Tax Appellate Tribunal, Section 195, Income Tax Act,1961, Tax Deduction at Source



ITAT, Bangalore: Assessment Cannot be Based on Presumptions U/S Section 153C of IT Act(09.05.2022)

Income Tax Appellate Tribunal, Bangalore while considering the directions from the Karnataka High Court has ruled that the assessment under Section 15.....

Tags : Income Tax Appellate Tribunal, assessment, Section 153C, presumption



ITAT Deletes Addition u/s 68 of IT Act, Says Firm not Taxable for Capital introduced by Partner(09.05.2022)

Income Tax Appellate Tribunal, Chennai has observed that the Firm cannot be made taxable for the capital introduced by the Partner as section 68 of th.....

Tags : Income Tax Appellate Tribunal, section 68, Income Tax Act, 1961



ITAT, Ahmedabad: Delay Due to Liquidation Proceedings Constitute Reasonable Cause(10.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that if dominion ownership of car rest with the assessee, the assessee is eligible for depreciation.....

Tags : Income Tax Appellate Tribunal, depreciation, assessee



ITAT, Ahmedabad: Third Party Shareholders Renouncing Rights Shares is Liable to Tax U/S 56(2)(10.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that third party shareholders renouncing rights shares in favour of the assesse are liable to tax u.....

Tags : Income Tax Appellate Tribunal, assesse, Section 56(2), Income Tax, 1961



ITAT, Delhi: Re-Assessment Based on Incorrect and Irrelevant Facts is Invalid(10.05.2022)

Income Tax Appellate Tribunal, Delhi has held that the re-assessment under section 148 of the Income Tax Act, 1961 invoked on the basis of incorrect a.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, section 148



Delhi HC: Enhancement of Compounding Charges on Subsequent Offences is Valid(10.05.2022)

Delhi High Court has upheld an order of the income tax department imposing enhanced compounding charges on subsequent applications for compounding of .....

Tags : Delhi High Court, income tax department, Tax Deducted at Source



ITAT: If TDS Statement filed on Time Contains Technical Errors, No Late Fee Can be Charged(11.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that a late fee under section 234E of the Income Tax Act of 1961 cannot be imposed if a statement is.....

Tags : Income Tax Appellate Tribunal, section 234E, Income Tax Act



ITAT, Mumbai: Computers, Including Computer Software, Are Eligible to 60% Depreciation(11.05.2022)

Income Tax Appellate Tribunal, Mumbai has observed that depreciation of 60 % can be allowed to ‘computers including computer software’ under Rule 5 of.....

Tags : Income Tax Appellate Tribunal, Income Tax Appellate Tribunal Rules, depreciation, computers



Universal Music India Rejoices as Bombay HC Upholds ITAT Order(11.05.2022)

Bombay High Court in a major relief to Universal Music India, has upheld an order of the Income Tax Appellate Tribunal (ITAT) quashing a revisional or.....

Tags : Bombay High Court, Universal Music India, Income Tax Appellate Tribunal, section 263



ITAT, Chennai: Subscription Money Received in Advance by DTH Operators is Taxable(12.05.2022)

Income Tax Appellate Tribunal, Chennai has declared that subscription money received by direct-to-home (DTH) providers in advance is not taxable. The .....

Tags : Income Tax Appellate Tribunal, direct-to-home, subscription money



ITAT: Amendments to Income Tax Deduction for Contributions to ESI and PF Are Not Retrospective(12.05.2022)

Income Tax Appellate Tribunal, Jaipur has ruled that amended provisions relating to income tax deduction for ESI and PF contributions would be effecti.....

Tags : Income Tax Appellate Tribunal, 2021-22, retrospective, assessment year



Allahabad HC quashes Re-Assessment Order; Says Notice Issued Without Jurisdiction is Invalid(12.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961, issued by the assessing authority was declared witho.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, jurisdiction



Allahabad HC Quashes Re-Assessment Order; Says Notice Issued Without Jurisdiction is Invalid(12.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961, issued by the assessing authority was declared witho.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, jurisdiction



ITAT: Income Tax Penalty U/S 271E Cannot be Levied In Absence of Regular Assessment(13.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the income tax penalty under Section 271E of the Income Tax Act, 1961 cannot be levied in the .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Section 271E, assessee



ITAT: Non-Cooperation With Dept Cannot be Sole Ground for Addition U/S 69A(13.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that mere non-cooperation with the department cannot be the sole ground to make an addition under S.....

Tags : Income Tax Appellate Tribunal, Section 69A, Income Tax Act, 1961



ITAT States That Consideration Paid For Purchase Of Advertisement Space Does Not Amount To 'Royalty'(16.05.2022)

Chennai Bench of ITAT has held that consideration paid for purchase of advertisement space does not amount to 'royalty' under the Income Tax Act, 1961

Tags : ITAT Chennai, Royalty, Income Tax Act



Orissa HC: Commission Paid To Persons Who Are Not Beneficial to Business of Assessee is Taxable(16.05.2022)

Orissa High Court while dismissing a challenge against an order of the Income Tax Appellate Tribunal which disallowed commission expenses as claimed b.....

Tags : Orissa High Court, Income Tax Appellate Tribunal



Calcutta HC: Reassessment Order Passed Without Issuance of Notice Is Invalid(16.05.2022)

Calcutta High Court has ruled that the reassessment order passed without issuance of notice under Section 148 of the Income Tax Act, 1961 is not valid.....

Tags : Calcutta High Court, Section 148, Income Tax Act, 1961



ITAT, Pune: Revisional Jurisdiction Cannot be Invoked Sans Illegality in Original Re-Assessment(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune while quashing a revisional jurisdiction under Section 263 of the Income Tax Act, 1961, has ruled that the .....

Tags : Income Tax Appellate Tribunal (ITAT), Pune, revisional jurisdiction, Section 263, Income Tax Act, 1961



ITAT, Pune: Revisional Jurisdiction Cannot be Invoked Sans Illegality in Original Re-Assessment(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune while quashing a revisional jurisdiction under Section 263 of the Income Tax Act, 1961, has ruled that the .....

Tags : Income Tax Appellate Tribunal (ITAT), Pune, revisional jurisdiction, Section 263, Income Tax Act, 1961



ITAT: Re-Assessment on Wrong Assumption And Information From Another Assessing Officer Invalid(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the reopening of assessment based on wrong assumption and information received from anothe.....

Tags : Income Tax Appellate Tribunal, assessing officer



ITAT, Kolkata: Disallowance U/S 14A Not to be Considered While Computing Book Profit(16.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the disallowance under Section 14A of the Income Tax Act, 1961 cannot be considered while comput.....

Tags : Income Tax Appellate Tribunal, Section 14A, Income Tax Act, 1961, book profit



ITAT, Kolkata: No Revision U/S 263 IT Act When AO Has Made Sufficient Enquiry(17.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that no revision under Section 263 of the Income Tax Act, 1961 when Assessing Officer has made suffic.....

Tags : Income Tax Appellate Tribunal, Section 263, Assessing Officer



ITAT, Amritsar: Revisional Order Should be in Detail, Enriched With Facts(17.05.2022)

Income Tax Appellate Tribunal, Amritsar while quashing a revisional order, has observed that the order under Section 263 of the Income Tax Act, 1961 s.....

Tags : Income Tax Appellate Tribunal, Section 263, revisional



ITAT, Ahmedabad: KYC Form is Prima Facie Proof For Address of Account Holder(17.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that Know Your Customer (KYC) Form is prima facie proof for address of account holder and upholds t.....

Tags : Income Tax Appellate Tribunal, Know Your Customer, cash deposits



ITAT, Kolkata: Non-Mentioning of Relevant Limb in Penalty Notice is Not Curable Defect(17.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the failure to mention a crucial limb in the penalty notice is not a curable defect, and the pro.....

Tags : Income Tax Appellate Tribunal, crucial limb, curable defect



Delhi HC: Change of Opinion Can’t be Reason to Believe to Obtain Income to Initiate Re-Assessment(18.05.2022)

Delhi High Court while dismissing an appeal by the Income tax department, has ruled that mere change of opinion cannot be a reason to believe that the.....

Tags : Delhi High Court, Income tax department, Sections 147, Sections 148, Income Tax Act, 1961



ITAT: Deduction U/S 80IA IT Act Cannot be Disallowed on Failure of Form No.10CCB Submission(19.05.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the Claim of deduction under Section 80IA of Income Tax Act, 1961 cannot be disallowed only.....

Tags : Income Tax Appellate Tribunal, Section 80IA, From NO.10CCB, due date



ITAT: Income Tax Deduction for CAM Charges Included in Rent(19.05.2022)

Income Tax Appellate Tribunal, Bangalore has observed that Common Area Maintenance (CAM) Charges included in rent were allowable as a deduction.

Tags : Income Tax Appellate Tribunal, Common Area Maintenance, rent



Delhi HC: AO & PCIT Failed to Consider Balance of Convenience And Irreparable Injury(19.05.2022)

Delhi High Court has held that neither the Assessing Officer (AO) nor the Principal Commissioners of Income Tax (PCIT) have considered the three basic.....

Tags : Delhi High Court, Assessing Officer, Principal Commissioners of Income Tax, prima facie, balance of convenience, irreparable injury



Delhi HC: AO & PCIT Failed to Consider Balance of Convenience And Irreparable Injury(19.05.2022)

Delhi High Court has held that neither the Assessing Officer (AO) nor the Principal Commissioners of Income Tax (PCIT) have considered the three basic.....

Tags : Delhi High Court, Assessing Officer, Principal Commissioners of Income Tax, prima facie, balance of convenience, irreparable injury



ITAT: Revisional Order Based on Suspicion is Invalid(20.05.2022)

Income Tax Appellate Tribunal (ITAT), Chennai Bench, has held that the revisional order under Section 263 of the Income Tax Act, 1961 cannot be merely.....

Tags : Income Tax Appellate Tribunal, Revisional Order, Suspicion



ITAT: No Disallowance of PF/ESI Contributions on Account of Delay in Deposit(20.05.2022)

Income Tax Appellate Tribunal ( ITAT ), Delhi Bench has held that no disallowance of provident fund and Employees State Insurance contributions on acc.....

Tags : Income Tax Appellate Tribunal, Disallowance, Provident Fund, Delay in Deposit



ITAT: Loss Out of Non-Speculative Transactions Can be Set off Under the Head of Regular Business(25.05.2022)

Income Tax Appellate Tribunal (ITAT) has held that loss arose out of non-speculative transactions can be set off under the head of the regular busines.....

Tags : ITAT, CIT, Income Tax Act, 1961



ITAT: No Income-tax Penalty for Unintentional Error in Form-16(30.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that income tax penalty cannot be imposed for committing an unintentional error on Form-16.

Tags : ITAT. Income Tax, Form 16



ITAT: Currency Derivative Can be Treated As An Eligible Transaction U/S 43(5)(30.05.2022)

Income Tax Appellate Tribunal, Delhi has observed that currency derivatives can be treated as eligible transactions under Section 43(5) of the Income .....

Tags : Income Tax Appellate Tribunal, transactions



ITAT: Amendment on Sec.36(1)(va) Has Prospective Effect(30.05.2022)

Income Tax Appellate Tribunal, Raipur while quashing the order confirming disallowances of Rs. 18,12,622/- out of employment contribution towards EPF/.....

Tags : Income Tax Appellate Tribunal, amendment, prospective



ITAT: Onus To Prove Identity, Creditworthiness Etc of Transaction Lies on Assessee(30.05.2022)

Income Tax Appellate Tribunal, Pune has observed that the onus to prove identity, creditworthiness, and genuineness of a transaction lies with the ass.....

Tags : Income Tax Appellate Tribunal, assessee



ITAT: Interest-bearing Unsecured Loans Are Allowable As Income Tax Deduction U/S 57(iii)(31.05.2022)

Income Tax Appellate Tribunal, Raipur observed that interest-bearing unsecured loans are allowable as deduction under Section 57(iii) of Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, unsecured loans, deduction



ITAT: Expenditure on Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....

Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software



ITAT: Expenditure On Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....

Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software



ITAT: Disallowance is Calculated Based on Average Value of Share(02.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that as per Rule 8D(2)(iii) of Income-Tax Rule, 1962, the disallowance under Section 14A of .....

Tags : ITAT, Income Tax, Disallowance



Delhi High Court Quashes Reassessment Order Issued Without Considering Reply Filed by Assessee(07.06.2022)

Delhi High Court has quashed the reassessment order issued by the department under Section 148A(d) of the Income Tax Act, without considering the repl.....

Tags : Delhi High Court, Income Tax Act, 1961, Reassessment



ITAT: Prima Facie Belief That There is Escape of Income is Sufficient Proof to Re-Open Assessment(23.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that prima facie belief that there is the escape of income is sufficient proof to initiate r.....

Tags : ITAT, Income Tax Act, 1961, Reassessment



ITAT: Not All Appellate Orders are Erroneous(30.06.2022)

Income Tax Appellate Tribunal (ITAT), Cuttack bench has advised the income tax department to be careful in filing the appeals against the orders of th.....

Tags : ITAT, Income Tax Department, Erroneous



ITAT: Income Tax Officials Bound to Follow CBDT Circular(08.07.2022)

ITAT: Income Tax Officials Bound to Follow CBDT Circular Income Tax Appellate Tribunal (ITAT), Cochin Bench has held that the circulars issued by the.....

Tags : ITAT, Income Tax Officials, CBDT Circulars



ITAT: Income Tax Appeal Not Maintainable During the Course of IBC Proceedings(16.08.2022)

Income Tax Appellate Tribunal (ITAT), Hyderabad Bench has held that an Income tax appeal is not maintainable during Insolvency and Bankruptcy Code (IB.....

Tags : ITAT, Income Tax Appeal, IBC



ITAT: No Documentary Evidence to Substantiate PRP as Expenditure, Claim is Not Sustainable(07.09.2022)

Income Tax Appellate Tribunal, Kolkata has observed that the claim of Performance Related Pay (PRP) is not sustainable when no documentary evidence wa.....

Tags : Income Tax Appellate Tribunal, Performance Related Pay, documentary evidence



ITAT, Jaipur: Equalisation Levy Not Applicable Where Target Audience Are Outside India(14.10.2022)

Income Tax Appellate Tribunal, Jaipur has observed that an equalisation levy is not payable on advertising payments where advertisers or the target au.....

Tags : Income Tax Appellate Tribunal, equalisation levy, advertisers



ITAT: Cess Received By Trust From Milk Societies, Not Voluntary; Can't Be Corpus Donation(17.10.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that the Cess received by a trust from the milk supplying societies, against the sales made by them .....

Tags : Income Tax Appellate Tribunal, Cess, Corpus Donation



ITAT: IT Exemption To Defence Personnel Invalidated From Service Due To Disability(18.10.2022)

Income Tax Appellate Tribunal, Delhi has observed that income tax (IT) exemption should be available to Defence Forces personnel who have been invalid.....

Tags : Income Tax Appellate Tribunal, exemption, Defence



ITAT: Payment Made By Assessee To Non-Resident Supplier Amount To "Royalty"; Liable To Deduct TDS(19.10.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that the payment made by the assessee to the non-resident supplier would amount to royalty and t.....

Tags : Income Tax Appellate Tribunal, assessee, deduct tax at source



ITAT: Vodafone Idea Not Liable To Deduct TDS On Discount Allowed On Purchase Of Prepaid SIM Cards(21.10.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that Vodafone Idea is not liable to Deduct Tax at Source (TDS) on the discount allowed to the distribu.....

Tags : Income Tax Appellate Tribunal, SIM, Deduct Tax at Source



CIT(A) cannot change the provision of law qua the item of which assessment was made(21.12.2022)

The assessee filed her return of income for the assessment year 2011-12 returning total income of ₹.2,35,280. During the course of remand proceedings .....

Tags : Income Tax Appellate Tribunal, Chennai



SC Strikes Down Section 10(26AAA) Income Tax Act as Unconstitutional(16.01.2023)

Supreme Court while striking down exemption provision under Section 10(26AAA) Income Tax Act as unconstitutional for excluding Sikkimese woman because.....

Tags : Supreme Court, Section 10(26AAA) Income Tax Act, Unconstitutional, Sikkimese woman



ITAT: Hire Charges Received by Owner Under ‘Time Charter Agreement’ Not Taxable As Royalty(23.01.2023)

Income Tax Appellate Tribunal, Mumbai has ruled that hire charges received by the owner of a ship for chartering its vessel under a ‘Time Charter Agre.....

Tags : Income Tax Appellate Tribunal, Time Charter Agreement, taxable



ITAT: Interest Income Earned By Co-Operative Society Eligible For Deduction(23.01.2023)

Income Tax Appellate Tribunal, Mumbai has observed that the interest income earned by a co-operative society on its investments held with co-operative.....

Tags : Income Tax Appellate Tribunal, interest, deduction



ITAT: 2% TDS Deductible On Common Area Maintenance Charges(25.01.2023)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that 2% Tax Deducted at Source (TDS) is deductible on common area maintenance charges. The court.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, maintenance, assessee



Union Minister of Finance and Corporate Affairs presented the Union Budget 2023-24 providing major relief in the personal income tax(01.02.2023)

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament. The Union Minister for F.....

Tags : Budget, Relief, Income Tax



ITAT: IBC Has Overriding Effect on All Acts Including Income Tax Act(20.02.2023)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that Insolvency and Bankruptcy Code (IBC) has an overriding effect on all acts, including t.....

Tags : Income Tax Appellate Tribunal, Income-Tax, Insolvency



ITAT: Employers Must Deposit Contribution Towards EPF/ESI on Time to Avail IT Deduction(18.03.2023)

Income Tax Appellate Tribunal (ITAT), Delhi bench has held that employers have to deposit employees' contributions towards EPF/ESI on time to avail of.....

Tags : ITAT, EPF/ESI, Income Tax Deductions, EPF/ESI



SC: 2015 Amendment to S. 153C of IT Act Will have Retrospective Application(06.04.2023)

Supreme Court has held that amendment to Section 153C of Income Tax (IT) Act 1961 by Finance Act 2015 will retrospectively apply to searches conducted.....

Tags : Supreme Court, Income Tax, Section 153C, Retrospective Application



SC: No Penalty Under S.271C of IT Act for Mere Delay in Remittance of TDS(11.04.2023)

Supreme Court while observing that words used in Section 271C(1)(a) are ‘fails to deduct’, and the same doesn’t speak about belated remittance of TDS,.....

Tags : Supreme Court, TDS, Remittance, Income Tax Act



Pat. HC: Section 45(5A) of Income Tax Act cannot be Treated as Retrospective(17.05.2023)

Patna High Court has held that Section 45(5A) of Income Tax Act 1961 can’t be treated as retrospective, and stated that there is presumption against r.....

Tags : Patna High Court, Income Tax Act, Retrospective



Guidelines under Clause (10D) of Section 10 of the Income-tax Act, 1961(16.08.2023)

1. Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on any sum received under a life insurance polic.....

Tags : Income Tax Act, 1961, Guidelines



Del. HC Upholds Validity of Section 115BBE of Income Tax Act(29.12.2023)

Delhi High Court while observing that Statutory Acts and their provisions are not to be declared unconstitutional on the fanciful theory that power wo.....

Tags : Delhi High Court, Constitutional Validity, Income Tax Act



Del. HC: IT Addition Eligible for Deduction u/s 80-IC of IT Act if Made Towards Unsub. Share Capital(04.04.2024)

Delhi High Court has held that Income Tax Addition are eligible for deduction under Section 80-IC of the Income Tax Act, 1961 if they are made towards.....

Tags : Delhi High Court, Section 80-IC of IT Act, Income Tax Addition, Unsubstantiated Share Capital



Del. HC: Rule 11UA of the IT Rules, 1962 Interpreted for Determination of FMV of Shares(08.04.2024)

Delhi High Court has held that rule 11UA of Income Tax Rules, 1962(IT Rules) has been interpreted by it for the determination of fair market value (FM.....

Tags : Delhi High Court, Income Tax Rules, Fair Market Value, Rule 11UA



Del. HC: ITSC Can Only Grant Immunity from Penalty & Prosecution in Case of Full & True Disclosure(15.04.2024)

Delhi High Court has held that the power to grant immunity from penalty and prosecution is entrusted to the Income Tax Settlement Commission (ITSC) on.....

Tags : Delhi High Court, Income Tax Settlement Commission, Penalty & Prosecution, True Disclosure



Ker. HC: Assessment Order Quashed on Finding that Assessee Not Provided Effective Hearing(16.04.2024)

Ker. HC quashed an assessment order passed under the Income Tax Act, 1961, and held that since the assessee was not able to log in through link for vi.....

Tags : Kerala High Court, Assessment Order, Income Tax Act, 1961, Principles of Natural Justice



Constitutional Validity of S. 71(3A) of IT Act Upheld by Delhi High Court(03.06.2024)

Delhi High Court has upheld the constitutional validity of Section 71(3A) of the Income Tax Act, 1961 which was added by Section 31 of the Finance Act.....

Tags : Delhi High Court, Constitutional Validity, Income Tax Act, 1961



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