Search Results for Tag : Income tax
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
Notifications & Circulars
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
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
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
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
Judgments
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
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
News
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
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
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)
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 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
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
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
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
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 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
ITR-V verification pending? Now use EVC(09.05.2016)
The Central Board of Direct Taxes allowed taxpayers to verify their electronic returns by means of Electronic Verification Code.
As far bac.....
Tags : Income tax, verification, evc, itr-v
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
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
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
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
More Forms for e-ITR, more security(04.04.2016)
The Central Board of Direct Taxes announced the electronic filling and filing of Forms 1 and 4S for income tax returns. Furthering the shift to electr.....
Tags : Income tax, electronic filing, 2016
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, 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
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.....
Tags : Income Tax Appellate Tribunal, Board of Control for Cricket in India
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
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, 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
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.....
Tags : Ministry of Finance, Due Date of Filing Income Tax Returns
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
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, 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
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
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
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, 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
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
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
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
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
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
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
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
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.....
Tags : Income Tax Appellate Tribunal, Relief to PC Jewellers
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.....
Tags : Gujarat High Court, Income Tax Provision Treating Defaulter at Par
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
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, 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, 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
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
Proceeds from unlisted share sale to default to ‘Capital Gain’ head(05.05.2016)
The Central Board of Direct Taxes directed its offices that income from transfer of unlisted shares irrespective of period of holding would be taxable.....
Tags : Unlisted shares, sale, capital gain, income tax
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, 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.
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
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
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
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.....
Tags : Income Tax Appellate Tribunal, Transponder Charges
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, 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
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
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
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
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, 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, 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, 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: 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
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, 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
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
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.....
Tags : Income Tax Appellate Tribunal, Exempted Service
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, 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
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
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: 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
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
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 ,
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: 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, 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
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
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
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
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
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
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
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
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
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
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
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.....
Tags : Income Tax Appellate Tribunal, Interest Income Linked to Power Plant
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
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, 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, 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, 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, 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 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
Income Declaration Scheme 2016 to open 1 June 2016(14.05.2016)
The Income Declaration Scheme 2016 incentivising declaration of black money will commence 1 June 2016.
Monies declared under the scheme wi.....
Tags : black money, income tax, window
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
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
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
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
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
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
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
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
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
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
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, 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.....
Tags : Income Tax Appellate Tribunal, Uber India
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
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
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, 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: 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
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
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
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
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 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
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
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, 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
Wealth tax return not required 2016-2017 onwards(01.04.2016)
With the Central Government’s recent decision to abolish the wealth tax, the Tags : Central Information Commission , Income Tax department
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 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
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
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
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, 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, 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, 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
#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
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
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
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, 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: 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
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
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, 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
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, 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: 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, 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, 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
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
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
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
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
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
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
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
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.....
Tags : Income Tax Appellate Tribunal, AOP Running Educational Institution
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
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
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, 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, 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, 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, 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: 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
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
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
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
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: 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, 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: 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, 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
Bom. HC: Sai Baba Sansthan Trust Eligible for Exemption on Income Tax for Anonymous Donations(09.10.2024)
Bombay High Court while upholding the order by ITAT, has affirmed that Shri Sai Baba Sansthan Trust situated in Shirdi is eligible for exemption from .....
Tags : Bombay High Court, Sai Baba Sansthan, Income Tax
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
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
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, 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, 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
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
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, 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: 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: 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
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, 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
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, 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
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
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
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, 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, 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.....
Tags : Income Tax Appellate Tribunal, Indian Youth Centre Trust
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: 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
Man. HC: IT Officer to Communicate Order of Reassessment and Demand Notice Within Time(23.07.2024)
Manipur High Court has held that if the Income Tax Officer makes reassessment without communicating the order of reassessment and the demand notice of.....
Tags : Manipur High Court, Income Tax Officer, Demand 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, 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
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
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
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
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, 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, 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
Del HC Declines Assess. Issued in Wrong Name after Entity’s Merger, Distinguishes from SC Judgment(20.01.2025)
Del HC while declining Income Tax Department's appeal for treating the error committed in naming relevant entity while issuing reassessment notices as.....
Tags : Delhi High Court, Income Tax Department, Assessment
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
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
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, 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
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
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
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
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
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
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
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
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, 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
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
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, 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
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
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
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
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
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
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 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, 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
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
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
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, 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, 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, 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, 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
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: 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, 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
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
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
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.....
Tags : Income Tax Appellate Tribunal, Long Term Capital Loss
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, 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, 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.....
Tags : Income Tax Appellate Tribunal, Preity Zinta
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: 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, 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, 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
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
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
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
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
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
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
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, 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
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
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, 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, 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
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
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
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
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
Income Tax Bill, 2025 Set to be Introduced in Lok Sabha Today(13.02.2025)
Finance Minister Smt. Nirmala Sitharaman is set to introduce the Income Tax Bill, 2025 which aims to consolidate and amend the taxation laws of the co.....
Tags : Income Tax Bill, Finance Minister, Lok Sabha
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
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
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
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: 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, 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
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
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: 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
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
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
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, 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
Budget 2024-25 Introduces Enhanced Deductions and Revised Tax Slabs(23.07.2024)
What is Income Tax?
Income tax is a government levy on the income earned by individuals and businesses during a financial year. "Income" enc.....
Tags : Income Tax Return, Commercial Properties, Securities Transaction Tax
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
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, 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
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
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
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 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
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: 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, 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
Del. HC: Can Condone Delay in Issuing Requisition u/s 132A of IT Act Due to Dept’s. Investigation(13.01.2025)
Delhi High Court has held that court can condone delay in issuing requisition under Section 132A of the Income Tax Act, 1961 if the delay has occurred.....
Tags : Delhi High Court, Condone Delay, Income Tax Department
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
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, 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
Bom HC: Non-Disposal of Registration Application in 6 Months Would Not Result in Deemed Registration(24.10.2024)
Bombay High Court has clarified that non-disposal of application for registration by granting or refusing registration, before the expiry of six month.....
Tags : Bombay High Court, Income Tax Act, Registration
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: 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: 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
Del HC: If Reassessment Notice Issued During Lifetime of Deceased Assessee, Dept. Can Invoke S. 159(10.01.2025)
Delhi High Court has held that the Income Tax Department can invoke Section 159 of the Income Tax Act, 1961 for proceeding against the legal represent.....
Tags : Delhi High Court, Income Tax Department, Legal Representative
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
Madras HC: To Invoke PMLA, Mere Possession of Proceeds of Crime Sufficient(09.10.2024)
Bombay High Court while upholding the order by ITAT, has affirmed that Shri Sai Baba Sansthan Trust situated in Shirdi is eligible for exemption from .....
Tags : Bombay High Court, Sai Baba Sansthan, Income Tax
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, 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
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 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
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
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
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
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, 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, 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
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
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, 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, 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
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 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
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
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, 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: 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, 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
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
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
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
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
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
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, 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
#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
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: 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.....
Tags : Income Tax Appellate Tribunal, Single Transaction of Buying and Selling of Shares
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, 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 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.....
Tags : Income Tax Appellate Tribunal, Tulip Star Hotel
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
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
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
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, 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, 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, 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, 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, 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, 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
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: 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
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
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, 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, 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: 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
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 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: 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, 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
Ministry of Finance: Income Tax Officials Can’t Access E-mails, Bank Accounts of All Assesses(27.03.2025)
Ministry of Finance has informed that Income Tax officials cannot access the personal emails, Bank accounts of all the assesses. However, there are pr.....
Tags : Ministry of Finance, Income Tax Officials, Personal Emails
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
#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
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
# Budget 2025 – Important Laws(01.02.2025)
# New Income Tax Bill is set to be introduced which seeks to replace the present Income Tax Act, 1961.
# Jan Vishwas Bill 2.0 to be introduced to de.....
Tags : New Income Tax Bill, Jan Vishwas Bill 2.0
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
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
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
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, 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
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
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
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
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, 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, 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
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
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
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
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, 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
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
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