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
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
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
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
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
Income Tax Rules on Fund Manager regime(15.03.2016)
The Central Board of Direct Taxes released the Income-Tax (5th Amendment) Rules, 2016 providing guidelines for the application of Section 9A of the In.....
Tags : Fund manager, offshore, income tax
ITAT, Mumbai: Dividend Derived from Shares Held as Stock in Trade Cannot be Disallowed(31.01.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the dividend which is derived from the Shares which are ‘stock in shares’ will not be compu.....
Tags : Income Tax Appellate Tribunal, Dividend Derived from Shares Held as Stock in Trade
ITAT 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
Income Tax (11th Amendment) Rules, 2015(07.08.2015)
The Government made amendments to the Income-tax Rules, 1962 with regard to registration of persons, due diligence and maintenance of information; and.....
Tags : income tax rules, registration, persons
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
ITAT Cuttack: Non-Availability of PAN of Deductee Cannot be Used to Escape from Filing TDS(28.01.2020)
Income Tax Appellate Tribunal (ITAT), Cuttack has held that the non-availability of a Permanent Account Number (PAN) of the deductee is not an excuse .....
Tags : Income Tax Appellate Tribunal, Non- Availability of PAN, Filing of TDS
ITAT, 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
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
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
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
Central Board of Direct Taxes Extends Due Date of Income Tax Audit Reports(12.01.2022)
Central Board of Direct Taxes (CBDT) has notified the extension of the timeline for filing Income Tax Returns and Various reports of audit for the AY .....
Tags : Central Board of Direct Taxes, Due Date of Income Tax Audit Reports
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
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, Mumbai: Provisions of Book Profit Not Applicable When No Income Tax Payable(19.02.2021)
Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the provisions relating to Book Profit will not be applicable when there is no income tax .....
Tags : Income Tax Appellate Tribunal, Book Profit
ITAT, Delhi: Pre-Operative Expenses Cannot be Allowed as Business Expense(14.02.2020)
Income Tax Appellate Tribunal (ITAT), Delhi has held that the expenses which are incurred before the operation of a company are called preoperative ex.....
Tags : Income Tax Appellate Tribunal, Pre-Operative Expenses
Paperless tax assessment expanded to Hyderabad and Kolkata(25.05.2016)
Scheme for e-assessment for income tax has been extended to include Hyderabad and Kolkata for Financial Year 2016-2017.
The ‘paperless’ sch.....
Tags : paperless, email, income tax, scrutiny
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
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
CIT Has No Power to Cancel or Withdraw 12A Registration: Supreme Court(15.03.2018)
Supreme Court has held that the Commissioner of Income Tax (CIT) has no power to cancel or withdraw or recall the registration certificate granted und.....
Tags : Supreme Court, Income Tax
Supreme Court: 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
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, Mumbai: Income From Cloud Hosting Services not Taxable Under ‘Royalty’(27.02.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that, Income from Cloud Hosting Services not Taxable under the head ‘Royalty’ within the meanin.....
Tags : Income Tax Appellate Tribunal, Income From Cloud Hosting Services
ITAT, Bangalore: Hindu Undivided Family Cannot be Taxed After Its Partition(02.03.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that once partition is completed and the Hindu Undivided Family (HUF) is dissolved, such HUF .....
Tags : Income Tax Appellate Tribunal, Hindu Undivided Family
ITAT, Delhi Accepts Harish Salve’s Deduction of Foreign Scholarship as Business Expense(01.03.2021)
Income Tax Appellate Tribunal, New Delhi, has accepted the claim of Senior Advocate Harish Salve for deduction of the foreign scholarship given by him.....
Tags : Income Tax Appellate Tribunal, Harish Salve
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
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, 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, Bangalore: Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure(27.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has granted relief to Cafe Coffee Day and held that foreign exchange loss due to the reinstatement of .....
Tags : Income Tax Appellate Tribunal, Foreign Exchange Loss on Repayment of Borrowings
ITAT, 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
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
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
ITAT, Mumbai: Addition of Unabated Assessment Without Incriminating Seized Material Not Sustainable(07.01.2021)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the addition of unabated assessment without incriminating seized material for assessment un.....
Tags : Income Tax Appellate Tribunal, Addition of Unabated Assessment
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
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
Receipt from Compulsory Acquisition of Agricultural Land is Not Taxable: ITAT, Raipur(20.02.2018)
Raipur bench of Income Tax Appellate Tribunal (ITAT) has proclaimed that capital gain arising out of sale of agricultural land under compulsory acquis.....
Tags : Income Tax, Acquisition
ITAT, Bangalore: Reimbursement of Vehicle Expenses by Cab Owners Not Subject to TDS(27.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payments made by the cab owners which are in the nature of reimbursement of vehicle .....
Tags : Income Tax Appellate Tribunal, Reimbursement of Vehicle Expenses by Cab Owners
ITAT, 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
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
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
CBDT Reduces Time Limit to Re-open Income Tax Assessments(07.12.2021)
Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopen.....
Tags : Central Board of Direct Taxes, Re-open Income Tax Assessments
ITAT, Mumbai: Penalty Cannot be Levied for Genuine Omissions in Income Tax Returns(19.02.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that genuine omissions must be excluded from the levy of penalty under Section 271 (1) (a) of th.....
Tags : Income Tax Appellate Tribunal, Genuine Omissions in Income Tax Returns
ITAT, Bangalore: Royal Challengers Eligible for Tax Deduction for Contribution(18.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has allowed tax deduction to Royal Challengers Sports Pvt. Ltd. on its contribution of Rs. 15 Crores t.....
Tags : Income Tax Appellate Tribunal, Tax Deduction for Contribution, Royal Challengers
ITAT: 2% TDS Deductible On Common Area Maintenance Charges(25.01.2023)
Income Tax Appellate Tribunal (ITAT), Delhi has ruled that 2% Tax Deducted at Source (TDS) is deductible on common area maintenance charges. The court.....
Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, maintenance, assessee
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, 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
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
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
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, Chennai: Wife Eligible for Capital Gain Deduction Towards House Purchased in Husband’s Name(27.02.2020)
Income Tax Appellate Tribunal (ITAT), Chennai has held that the wife is eligible for deduction under Section 54 of the Income Tax Act, 1961 for the in.....
Tags : Income Tax Appellate Tribunal, Wife Eligible for Capital Gain Deduction
ITAT, Delhi: Unsigned Balance Sheets Not Admissible as Evidence(02.03.2020)
Income Tax Appellate Tribunal (ITAT), Delhi has held that the unsigned balance sheets by Auditor or the Director of Company cannot be treated as relia.....
Tags : Income Tax Appellate Tribunal, Unsigned Balance Sheets
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
ITAT, Bangalore Quashes Re-assessment Proceedings Against Nike India Pvt. Ltd.(17.02.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has quashed re-assessment proceedings against Nike India Pvt. Ltd, which was reopened more than 4 year.....
Tags : Income Tax Appellate Tribunal, Nike India Pvt. Ltd.
ITAT, Kolkata Quashes Re-Assessment Proceedings Against Price Waterhouse & Co.(13.02.2020)
Income Tax Appellate Tribunal (ITAT), Kolkata has quashed the re-assessment proceedings against Price Waterhouse & Co. and held that to reopen the ass.....
Tags : Income Tax Appellate Tribunal, Re-Assessment Proceedings Against Price Waterhouse & Co.
ITAT, Delhi: 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
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, Ahmedabad: Income Tax Assessment Against Deregistered Company Invalid(04.02.2022)
Income Tax Appellate Tribunal (ITAT) Ahmedabad, has held that the income tax assessment against a company deregistered by the Ministry of Corporate Af.....
Tags : Income Tax Appellate Tribunal, Income Tax Assessment
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: Share Application Money is ‘Capital Asset’ Under Income Tax Act(18.12.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act, 1961.
Tags : Income Tax Appellate Tribunal, Share Application Money
ITAT, Mumbai: Rent from Children Cannot be Treated as Tool for Evasion(11.03.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the rent received from son and daughter of the Assessee could not be treated as a tax evasi.....
Tags : Income Tax Appellate Tribunal, Rent from Children
Delhi HC: Remand Power Not to be Exercised by ITAT in Routine Matter(19.01.2021)
Delhi High Court has held that the remand is not a power to be exercised by Income Tax Appellate Tribunal in a routine manner but to be used sparingly.....
Tags : Delhi High Court, Income Tax Appellate Tribunal
ITAT: 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, 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
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
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: 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
New Income Tax Return Form for Salaried Class Available in Portal: IT Dept(19.04.2018)
Income Tax Department has said that the latest ITR-1 form, largely used by the salaried tax payers is now available in the official portal for e-filin.....
Tags : Income Tax
ITAT, Chennai: Right Through Share Warrants is Valuable Right, Can be Treated as Capital Asset(24.01.2022)
Income Tax Appellate Tribunal (ITAT), Chennai, has held that a right acquired through share warrants is a valuable right, can be treated as a capital .....
Tags : Income Tax Appellate Tribunal, Right Through Share Warrants
ITAT, 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
CBDT Notifies Scrapping of Certain Forms for Income Tax Deductions(05.04.2021)
Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III under the Income Tax Act, 1961 ceased to be effective o.....
Tags : Central Board of Direct Taxes, Forms for Income Tax Deductions
ITAT, Delhi Deletes Additions on Passing of Expiry Date of Product in Relief to Hindustan Coca Cola(27.01.2021)
Income Tax Appellate Tribunal (ITAT), Delhi in a relief to Hindustan Coca Cola has deleted the additions of Rs. 20.89 Lakhs on account of passing of t.....
Tags : Income Tax Appellate Tribunal, Hindustan Coca Cola
ITAT, 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, Bangalore: Warrant Expenses are Deductible from Book Profit(11.03.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that the warrant expenses should be deducted from the book profit under Section 115JB of the .....
Tags : Income Tax Appellate Tribunal, Warrant Expenses
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
Bombay HC Rejects Petition Challenging Show Cause Notice Issued By Income Tax Department(20.12.2021)
Bombay High Court has rejected a petition filed by Maharashtra Cabinet Minister Chhagan Bhujbal challenging a show cause notice issued by the Income T.....
Tags : Bombay High Court, Show Cause Notice Issued By Income Tax Department
ITAT, Pune: Stamp Value Would be Full Consideration Only if Payment Made Through Bank(02.03.2020)
Income Tax Appellate Tribunal (ITAT), Pune has observed that the stamp value on the date of agreement to sell shall be considered as full value of con.....
Tags : Income Tax Appellate Tribunal, Stamp Value
Prior Notice Must for Initiating Reassessment Proceeding: ITAT, Amritsar(20.06.2018)
ITAT Amritsar held that notice under Section 148 or 142(1) of the Income Tax Act which is served upon the deceased assessee or his sole legal heir is .....
Tags : Income Tax Department, Notice
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
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: Assessee in Principle Entitled to Claim Deduction of Gratuity(22.02.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appe.....
Tags : Income Tax Appellate Tribunal, Deduction of Gratuity
Four New Forms Under Domestic Black Money Window Notified by Income Tax Department(03.06.2016)
Income Tax department has notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black m.....
Tags : Income Tax Department, Form
ITAT, Ahmedabad: Letting Out of Property and Furniture for Film Exhibition is Business Activity(14.02.2020)
Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the income received from Film Exhibition Business that has been leased out to another pa.....
Tags : Income Tax Appellate Tribunal, Letting Out of Property and Furniture for Film Exhibition
Section 50C can’t be Applied When Property Sold Under Pressure: ITAT(05.04.2019)
Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the provisions of Section 50C of the Income Tax Act, 1961 cannot be applied when the.....
Tags : ITAT, Chennai Bench, Section 50 C Income Tax Act
ITAT: Hire Charges Received by Owner Under ‘Time Charter Agreement’ Not Taxable As Royalty(23.01.2023)
Income Tax Appellate Tribunal, Mumbai has ruled that hire charges received by the owner of a ship for chartering its vessel under a ‘Time Charter Agre.....
Tags : Income Tax Appellate Tribunal, Time Charter Agreement, taxable
ITAT, Pune: Addition for Unexplained Cash Credit Can’t be Merely on Suspicion(12.03.2020)
Income Tax Appellate Tribunal (ITAT), Pune has held that additions for unexplained cash credits under Section 68 of the Income Tax Act, 1961 cannot be.....
Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit
ITAT, Jaipur: Equalisation Levy Not Applicable Where Target Audience Are Outside India(14.10.2022)
Income Tax Appellate Tribunal, Jaipur has observed that an equalisation levy is not payable on advertising payments where advertisers or the target au.....
Tags : Income Tax Appellate Tribunal, equalisation levy, advertisers
AOs to not issue penalty notices under Sections 271D,E of IT Act(26.04.2016)
The Central Board of Direct Taxes set forth a “Departmental View” to assuage conflicting notions on the limitation for imposition of penalty under Sec.....
Tags : income tax, penalty notice, limitation
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
Ministry of Finance Extends Due Date for Filing of Income Tax Returns(31.12.2020)
Ministry of Finance has extended the due date for filing of income tax returns for the financial year 2019-2020 (AY 2020-21) till 10th January, 2021. .....
Tags : Ministry of Finance, Due Date of Filing Income Tax Returns
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, 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, Bangalore Extends Stay Period for Google India Due to Delay in Disposal of Appeal(19.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has granted an extension of stay period to Google India citing a reason for the delay in non-disposal .....
Tags : Income Tax Appellate Tribunal, Google India
ITAT Clarifies on Rent Deposits(07.06.2016)
Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has observed that the notional interest on security deposit paid by an employer to the landlord c.....
Tags : Income Tax Appellate Tribunal, ITAT, security deposit
Telangana High Court: Summoning Income Tax Returns Does Not Violate Right to Privacy(18.02.2020)
Telangana High Court has held that a direction to produce income tax returns in Court will not violate the right to privacy under Article 21 of the Co.....
Tags : Telangana High Court, Summoning Income Tax Returns
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 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, Mumbai: Amount Spent on Consumable Items can’t be Claimed as Improvement Cost(04.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the amount spent on consumable items including sofa, tiles, etc., can’t be claimed as cost .....
Tags : Income Tax Appellate Tribunal, improvement cost, Income Tax Act, 196, capital gain
Madras High Court: Depreciation Allowable on Non-Competent Fee and Brand Equity(14.08.2018)
Madras High Court has held that depreciation under Section 32 of Income Tax Act, 1961 is allowable on the non-competent fee and brand equity.
Tags : Madras High Court, Income Tax
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
ITAT, Kolkata: Commissioner Cannot Point Out Issues Other Than Issue Taken Up by AO(22.03.2022)
Income Tax Appellate Tribunal, Kolkata has held that the Commissioner, while invoking his jurisdiction under section 263 of the Income Tax Act, 1961 c.....
Tags : Income Tax Appellate Tribunal, Commissioner, Issues
ITAT, 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, 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
Gujarat High Court: Mere Rejection of a Claim Would Not Attract Penalty Under Income Tax Act(20.06.2017)
Gujarat High Court has held that penalty cannot be levied on assessee solely on ground of rejection of a claim under Income Tax Act, 1961.
Tags : Gujarat High Court, Income Tax Act
ITAT, Ahmedabad: Higher Rate of Depreciation Available to Vehicles Let Out on Hire(22.04.2022)
Income Tax Appellate Tribunal, Ahmedabad has ruled that the assessee can avail higher rate of depreciation that is accessible to vehicles to let out o.....
Tags : Income Tax Appellate Tribunal, assessee, higher rate, depreciation
ITAT, 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
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, 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
Kerala HC: Non Release of Seized Documents in Supreme Court is Illegal(01.04.2022)
Kerala High Court has held that the income tax department is unauthorized to retain the seizure of title deeds under Section 132 of the Income Tax Act.....
Tags : Kerala High Court, income tax department, title deeds, Section 132 of the Income Tax Act, 1961, Special Leave Petition
ITAT, Bengaluru: No Exemption to Society For Investment in Fixed Asset using Loan Amount(15.06.2017)
ITAT, Bengaluru has held that assessee-society is not entitled to exemption in respect of investment in fixed asset using loan amount under section 11.....
Tags : ITAT, Bengaluru, Income Tax Act
Chhattisgarh HC: Issuance of Reassessment Notice Valid on Ground Disclosure of Bogus Purchase Bills(21.04.2022)
Chhattisgarh High Court has observed that the reassessment notice under Section 148 of the Income Tax Act,1961 is valid on the grounds of disclosure p.....
Tags : Chhattisgarh High Court, reassessment, Section 148 of the Income Tax Act,1961, bogus
ITAT, Bangalore: No Rationale in Making Additions to Income on Violation of RBI Notifications(11.04.2022)
Income Tax Appellate Tribunal, Bangalore has observed that there is no rationale in the action of the Assessing Officer of making additions to income .....
Tags : Income Tax Appellate Tribunal, rationale, Assessing Officer, assesse, Section 68 of the Income Tax Act, 1961, Reserve Bank of India
ITAT, 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
ITAT, Mumbai: Reassessment Proceeding Cannot be Held Time Barred When Amendment Increases Limitation(25.02.2022)
Income Tax Appellate Tribunal, Mumbai has held that reassessment proceeding cannot be held time barred when an amendment increasing limitation of time.....
Tags : Income Tax Appellate Tribunal, Reassessment Proceeding
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, 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: TDS u/s 194D Inapplicable to Reinsurance Commission(18.04.2022)
Income Tax Appellate Tribunal, Delhi has observed that the provisions of Tax Deducted at Source under section 194D of the Income Tax Act, 1961 is not.....
Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, section 194D of the Income Tax Act, 1961
ITAT, Jaipur Allows Deduction u/s 54F on Residential House Property Purchased in Name of Wife(07.04.2021)
Income Tax Appellate Tribunal (ITAT), Jaipur has allowed the deduction under section 54F of the Income Tax Act, 1961 in respect of residential house p.....
Tags : Income Tax Appellate Tribunal, Deduction u/s 54F on Residential House Property
ITAT, 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
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
ITAT: Customs House Agent Bound to Pay TDS on Payment to CFS Agents(25.03.2022)
Income Tax Appellate Tribunal (ITAT), Chennai has held that the Customs House Agent bound to pay TDS under section 194C of the Income Tax Act, 1961 on.....
Tags : Income Tax Appellate Tribunal, TDS on Payment to CFS Agents
Central Govt Notifies Special Courts in Tripura to Deal with Income Tax and Black Money Cases(13.05.2021)
Central Government has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 of the Black Money.....
Tags : Central Government, Income Tax and Black Money Cases
CBDT Notifies Income Tax Return Forms for AY 2019-20(05.04.2019)
Central Board of Direct Taxes (CBDT) has notified the income tax return forms for the Assessment Year 2019-20.
Tags : CBDT, Income Tax Return Forms, AY 2019-2020
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, Ahmedabad: Shares at Face Value by Amalgamated Company Not Covered Under Income Tax Act(16.04.2021)
Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that the Shares at ‘face value’ by the amalgamated company to shareholders in pursuance of s.....
Tags : Income Tax Appellate Tribunal, Shares at Face Value by Amalgamated Company
Madras HC: ITSC Cannot Force Income Tax Dept to Settle Disputes with Assessees(26.04.2021)
Madras High Court has ruled that Income Tax Settlement Commission (ITSC) cannot force the Income Tax Department to settle disputes with assessees if t.....
Tags : Madras High Court, Income Tax Settlement Commission
ITAT, Delhi: 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, Chennai: Penalty Can’t be Levied Based on Estimate Addition(18.04.2022)
Income Tax Appellate Tribunal, Chennai has observed that the order of penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied mer.....
Tags : Income Tax Appellate Tribunal, section 271(1)(c) of the Income Tax Act, 1961
ITAT: 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, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)
Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....
Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt
ITAT, 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
AP HC: Prosecution Against Assessee for Belated Deposit of TDS, Quashed(25.06.2024)
Andhra Pradesh High Court while observing that the Commissioner of Income Tax failed to consider material placed by the assessee showing that there wa.....
Tags : Andhra Pradesh High Court, Commissioner of Income Tax, Belated Deposit
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
Government extends due date for filing of Income Tax Returns from 30th September, 2016 to 17th October, 2016(12.09.2016)
The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September o.....
Tags : Income Tax Returns, Filing, Extension of date
ITAT, Bangalore: Payment of Sub Contracting Charges to Subsidiary Liable to TDS(18.04.2022)
Income Tax Appellate Tribunal, Bangalore has observed that payment of sub-contracting charges to subsidiary is liable to Tax Deduction at Source.
Tags : Income Tax Appellate Tribunal, Tax Deduction at Source, sub-contracting charges
ITAT, Delhi: No Liability to Deduct TDS on Payments Made by Lenskart to Facebook Ireland(07.04.2022)
Income Tax Appellate Tribunal, Delhi has upheld the order passed by Commissioner of Income Tax (Appeals) by deleting additions of over Rs. 67 Lakhs ma.....
Tags : Income Tax Appellate Tribunal, Sixty Seven Lakhs, Lenskart's, Tax Deducted at Source, Facebook, Ireland
ITAT, Bangalore: Non-Appearance of Assessee During Hearing Can’t be Reason to Recall Tribunal Order(02.05.2022)
Income Tax Appellate Tribunal, Bangalore has ruled that the Tribunal cannot recall an order by invoking Rule 25 of the Appellate Tribunal Rules, 1963 .....
Tags : Income Tax Appellate Tribunal, Rule 25, Appellate Tribunal Rules, 1963, assessee
ITAT, Delhi: No Tax on Compensation for Acquisition of Agricultural Land by State Govt(15.04.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has held that no tax shall be payable on compensation for acquisition of agricultural land by the state go.....
Tags : Income Tax Appellate Tribunal, Compensation for Acquisition of Agricultural Land
SC: No Income Tax Liability for UAE Exchange in India(27.04.2020)
Supreme Court has ruled that no income tax can be levied on its liaison offices in India in respect of the principal business carried by it in United .....
Tags : Supreme Court, Income Tax Liability for UAE Exchange
ITAT, Mumbai: Payment to Foreign Company for Utilisation of Transponder of Satellite Not Royalty(11.03.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai ruled that the payment made to a foreign company for the utilisation of a transponder centred on a satell.....
Tags : Income Tax Appellate Tribunal, Utilisation of Transponder of Satellite
Government: Aadhaar Mandatory for PAN application Form from July 1(29.06.2017)
Income Tax Amendment Rules [Income Tax (17th Amendment) Rules, 2017] which makes quoting Aadhaar mandatory for PAN Application from July-1, has been n.....
Tags : Income Tax Amendment Rules, Aadhaar, PAN
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
Supreme Court: Mere Amalgamation Would Not invalidate Income Tax Proceedings(07.04.2022)
Supreme Court has held that whether corporate death of amalgamating entity upon amalgamation invalidates an order of assessment issued under the Incom.....
Tags : Supreme Court, amalgamation, Income Tax Act, 1961, Section 481 of the Companies Act, 1956
ITAT, Ahmedabad: Undisclosed Sale Consideration of Property Can Only Assessable as Capital Gain(02.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has ruled that the undisclosed sale consideration of the property can be subjected to tax as capital gain und.....
Tags : Income Tax Appellate Tribunal, capital gain, section 48, Income Tax Act, 1961, Undisclosed sale consideration
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
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
Supreme Court: Expenditure Incurred To Earn Dividend Income On Shares Not Deductible(11.05.2017)
Supreme Court has held that Section 14A of Income Tax Act would apply to dividend income on which tax is payable under Section 115-O of Act.
Tags : Supreme Court, Income Tax
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, Delhi: Royalty Cannot be Endorsed to Providing Customized Research Advisory Services(19.04.2022)
Income Tax Appellate Tribunal; Delhi has observed that customized research advisory services are not taxable under the head Royalty under the relevant.....
Tags : Income Tax Appellate Tribunal, Royalty, Income Tax Act, 1961, customized research advisory services
ITAT, 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
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, Chandigarh: Tax Authorities Cannot Evade Responsibility to Collect Correct Taxes(10.05.2021)
Income Tax Appellate Tribunal (ITAT), Chandigarh has held that the Tax authorities cannot evade responsibility to ensure only correct and due taxes ar.....
Tags : Income Tax Appellate Tribunal, Responsibility to Collect Correct Taxes
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, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return(20.04.2022)
Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of adv.....
Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, advance tax installment, advance pricing agreement
ITAT, Delhi: Registration of Trust is Deemed in Absence of Refusal of Registration(31.03.2022)
Income Tax Appellate Tribunal, Delhi has held that trust is deemed to be registered under section 12AA of the Income Tax Act, 1961 in the absence of r.....
Tags : Income Tax Appellate Tribunal, section 12AA, 6 months
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, 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: 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
ITAT, Chennai Disallows Deduction Claim on Receipts from Carbon Credit(12.02.2020)
Income Tax Appellate Tribunal (ITAT), Chennai has held that the receipts from the sale of the carbon credit are liable to be treated as the capital re.....
Tags : Income Tax Appellate Tribunal, Deduction Claim on Receipts from Carbon Credit
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, Ahmedabad: No Disallowance for Interest Expenses if Investment to Acquire Control(03.02.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that no disallowance can be made for interest expenses if the investment was made to acquire .....
Tags : Income Tax Appellate Tribunal, No Disallowance for Interest Expenses
ITAT, Delhi: Commissioner Sanction Not Required for Contribution towards EPF Under EPF Act(31.05.2017)
ITAT Delhi has held that approval by Commissioner of Income Tax is not a mandatory requirement to allow deduction of contribution towards EPF under se.....
Tags : ITAT Delhi, Income Tax Act, Employees provident Fund Act
No Due Date Extension for Income Tax Return Filing: CBDT(23.07.2018)
Central Board of Direct Taxes (CBDT) has clarified that the due date for filing Income Tax Return shall not be extended beyond 31st July, 2018.
Tags : Income Tax
ITAT, Chennai: Capital Gains to be Computed as per Share of Parties in Residential Property(10.03.2022)
Income Tax Appellate Tribunal, Chennai has held that capital gains under the Income Tax Act, 1961 is to be computed according to the respective share .....
Tags : Income Tax Appellate Tribunal, Capital Gains
ITAT, Bangalore Allows Capital Gain Exemption Since Sale Deed was Registered Within Given Time(18.04.2022)
Income Tax Appellate Tribunal, Bangalore has observed that the date of completion of construction of new property is immaterial to allow exemption und.....
Tags : Income Tax Appellate Tribunal, section 54F, Income Tax Act, 1961, statutory period
ITAT, Delhi: Framing of Reassessment u/s 147 of IT Act against Non-Existing Entity Void Ab-initio(18.04.2022)
Income Tax Appellate Tribunal, Delhi has ruled that the re-assessment under section 147 and section 143(3) of the Income Tax Act, 1961 is not sustaina.....
Tags : Income Tax Appellate Tribunal, section 147, section 143(3) of the Income Tax Act, 1961
Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)
Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....
Tags : Bombay High Court, Income Tax
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, 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
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: 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
Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)
Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....
Tags : Bombay High Court, Income Tax
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: 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
Govt. Extends Date for Filing of Income Tax Returns for Taxpayers in Kerala(30.08.2018)
Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for al.....
Tags : Income Tax
ITAT, Delhi: Revisional Jurisdiction Can be Invoked in Very Gross Case of Inadequacy in Inquiry(29.04.2022)
Income Tax Appellate Tribunal, Delhi has ruled that the Revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked in a very.....
Tags : Income Tax Appellate Tribunal, revisional jurisdiction, section 263, Income Tax Act, 1961
ITAT: No Income-tax Penalty for Unintentional Error in Form-16(30.05.2022)
Income Tax Appellate Tribunal (ITAT), Pune bench has held that income tax penalty cannot be imposed for committing an unintentional error on Form-16.
Tags : ITAT. Income Tax, Form 16
CBDT: Property Advance Above Rs. 20,000 Must be Disclosed in Audit Report(05.07.2017)
Central Board of Direct Taxes (CBDT) has notified that property advance of Rs. 20,000 should be disclosed in audit report u/s 44AB of Income Tax Act.
Tags : Central Board of Direct Taxes, Income Tax Act
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
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
Income Tax Dept Cautions Taxpayers to File Returns by 31st August, 2018(30.08.2018)
Income Tax Department has advised the taxpayers to file income tax returns by the deadline of 31st August 2018, the last date for persons whose accoun.....
Tags : Income Tax
ITAT, Chennai: Subscription Money received From Customers Shall be Treated as Deferred Income(29.04.2022)
Income Tax Appellate Tribunal, Chennai has ruled that the subscription monies received in advance by the Company shall be treated as deferred income a.....
Tags : Income Tax Appellate Tribunal, subscription monies, deferred income, methodology
ITAT: Loss Out of Non-Speculative Transactions Can be Set off Under the Head of Regular Business(25.05.2022)
Income Tax Appellate Tribunal (ITAT) has held that loss arose out of non-speculative transactions can be set off under the head of the regular busines.....
Tags : ITAT, CIT, Income Tax Act, 1961
ITAT States That Consideration Paid For Purchase Of Advertisement Space Does Not Amount To 'Royalty'(16.05.2022)
Chennai Bench of ITAT has held that consideration paid for purchase of advertisement space does not amount to 'royalty' under the Income Tax Act, 1961
Tags : ITAT Chennai, Royalty, Income Tax Act
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
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
ITAT, Delhi Allows Taxmann Publication Claim of Depreciation on Intangible CMS Software(16.07.2020)
Income Tax Appellate Tribunal (ITAT), Delhi has directed the Assessing Officer to allow the Assessee, Taxmann Publication to claim depreciation on the.....
Tags : Income Tax Appellate Tribunal, Taxmann, Depreciation on CMS Software
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
#Income Tax: IT Department Starts Accepting Returns Without Linking PAN-Aadhaar(31.07.2017)
Income Tax department has started accepting returns without linking PAN with Aadhaar Number upto 5 lakhs. This is due to people are facing problems wi.....
Tags : Income Tax, PAN, Aadhar
SC: Acquittal Upheld in Cheque Dishonour Case for Contradiction in Statements of Complainant(09.08.2024)
SC has upheld acquittal of an accused in a cheque dishonor case on the ground that there was no financial capacity or acknowledgement in complainant’s.....
Tags : Supreme Court, Cheque Dishonor, Income Tax Returns
ITAT, Amritsar: Revisional Order Should be in Detail, Enriched With Facts(17.05.2022)
Income Tax Appellate Tribunal, Amritsar while quashing a revisional order, has observed that the order under Section 263 of the Income Tax Act, 1961 s.....
Tags : Income Tax Appellate Tribunal, Section 263, revisional
ITAT: 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
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
ITAT, Cuttack: Interest Not Leviable if TDS Paid Before Completion of Proceedings(15.03.2021)
Income Tax Appellate Tribunal (ITAT), Cuttack has ruled that no interest is leviable if Tax Deducted at Source (TDS) is timely deducted and paid to th.....
Tags : Income Tax Appellate Tribunal, Interst on TDS
ITAT, Pune: Income Tax Act, 1961 Has No Provisions to Condone Delay in Filing Misc. Applications(25.03.2020)
Income Tax Appellate Tribunal (ITAT), Pune, while dismissing a bunch of miscellaneous applications, has held that the Income Tax Act, 1961 does not ha.....
Tags : Income Tax Appellate Tribunal, Condonation of Delay in Filing Miscellaneous Applications.
ITAT Mumbai Says 'Sponsoring Foreign Trips of Doctors for Business Promotion is Expenditure'(29.05.2017)
Mumbai ITAT has held that sponsoring foreign trips of doctors for business promotion is allowable as expenditure under provisions of Income Tax Act.
Tags : Mumbai ITAT, foreign trips, Income Tax Act
ITAT Hyderabad: Return by Govt Agency Can't be Rejected For Not Furnishing Audit Report(09.06.2017)
Income Tax Appellate Tribunal (ITAT), Hyderabad has held that income tax return filed by a Government agency cannot be rejected by authorities merely .....
Tags : Income Tax Appellate Tribunal, Audit Report
Delhi HC: Collection of Service Charges from Donors Cannot Be Ground to Deny Tax Exemption(07.04.2022)
Delhi High Court has observed that the collection of service charges by India HIV AIDS Alliance from the donors cannot be treated as a reason to deny .....
Tags : Delhi High Court, service charges, India HIV AIDS Alliance, section 11, Income Tax Act, 1961, section 12
ITAT, Indore: Revisional Jurisdiction Cannot be Invoked if Assessment Orders Not Erroneous(30.06.2021)
Income Tax Appellate Tribunal (ITAT), Indore has held that revisional jurisdiction under Section 263 of the Income Tax Act, 1961 cannot be invoked if .....
Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction
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: 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
Bombay HC Slams I-T Department over Wrong Tax Demand(17.10.2016)
Bombay HC has pulled up Income Tax Department after it found that department had slapped a notice on an individual even though the search and seizure .....
Tags : Bombay HC, Income Tax,
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
J&K HC: Supplying Audio of Back Ground Sound to a Film Already Shot Amounts to “Manufacture”(16.08.2017)
Jammu & Kashmir High Court has held that activity of supplying audio of back ground sound to film already shot by customers, would amount to manufactu.....
Tags : Jammu & Kashmir High Court, Income Tax Act
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
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, Mumbai: Remuneration Paid to Partner Out of Profit Cannot be Treated as Salary(25.04.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the remuneration paid to Partner out of the share of profit cannot be treated as salary to .....
Tags : Income Tax Appellate Tribunal, Remuneration
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
Delhi HC: AO & PCIT Failed to Consider Balance of Convenience And Irreparable Injury(19.05.2022)
Delhi High Court has held that neither the Assessing Officer (AO) nor the Principal Commissioners of Income Tax (PCIT) have considered the three basic.....
Tags : Delhi High Court, Assessing Officer, Principal Commissioners of Income Tax, prima facie, balance of convenience, irreparable injury
Delhi HC Quashes Reassessment Notice, There Is No Rational Nexus To Believe Escapement Of Income(08.03.2022)
Delhi High Court has nullified the reassessment notice issued under Section 148 of Income Tax Act, 1961 on the grounds that the reason to believe was .....
Tags : Delhi High Court, Section 148, Income Tax Act, 1961, Reassessment Notice
Calcutta HC: Reasons Recorded in 142(1) Notice Not Existing at Issue of Re-Assessment Notice(05.04.2022)
Calcutta High Court has observed that the reasons mentioned in the notice under Section 142(1) and Section 147 of the Income Tax Act, 1961 were not ex.....
Tags : Calcutta High Court, Section 142(1), Section 147 of the Income Tax Act, 1961, re-assessment notice
Bombay HC: Contraband Found During Income Tax Search Does Not Amount to Seizure(25.05.2020)
Bombay High Court has held that when officers stumble upon a contraband during an income tax raid, it does not amount to 'seizure' under the Narcotics.....
Tags : Bombay High Court, Contraband Found During Income Tax Raid
ITAT, 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
#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
ITAT, Hyderabad: Property Ceases to be Business Asset When No Depreciation Claimed(30.04.2021)
Income Tax Appellate Tribunal (ITAT), Hyderabad has ruled that Property ceases to be a business asset when no depreciation is claimed and profit and g.....
Tags : Income Tax Appellate Tribunal, Property
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, Delhi: Penalty Notice Issued Without Applying Mind in Stereotyped manner is Not Valid(30.03.2022)
Income Tax Appellate Tribunal, Delhi has observed that a penalty notice issued in a stereotyped manner under section 271(1)(c) of the Income Tax Act, .....
Tags : Delhi Income Tax Appellate Tribunal, stereotyped, Section 271(1)(c) of the Income Tax Act, 1961
ITAT, Ahmedabad: TDS on Car Hiring Charges Paid Above Rs. 1.8 Lakhs U/S 194I of Income Tax Act(20.04.2022)
Income Tax Appellate Tribunal, Ahmedabad has observed that charges of car hiring falls under the provision of section 194I of the Income Tax Act, 1961.....
Tags : Income Tax Appellate Tribunal, section 194I of the Income Tax Act, 1961, Rs. 1.8 lakhs, Tax Deducted at Source
Use of email based communication for paperless Assessment Proceedings(19.10.2015)
Central Board of Direct Taxation has begun a pilot program of using email to correspond with taxpayers. The project is expected to be run in non-corpo.....
Tags : Income tax, pilot, email, correspondence, 2015
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
Delhi High Court: Application For Compounding Of Offence U/S 276CC IT Act Cannot Be Rejected(08.03.2022)
Delhi High Court has held that an application for compounding of the offence under Income Tax Act, 1961 cannot be rejected on the ground that Assessee.....
Tags : Delhi High Court, Chief Commissioner of Income Tax, Section 276CC of Income Tax Act, 1961
Kerala High Court Rejects Income Tax Officers Request to Nullify Misconduct Proceedings(18.06.2019)
Kerala High Court has rejected a petition by the Commissioner of Income Tax (Appeals) wherein the officer pleaded to vacate the order of the Ernakulam.....
Tags : Kerala High Court, Income Tax Officers
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, 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
#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, Delhi: Actual Receipt of Money by Assessee is Mandatory for Unexplained Cash Credit(29.04.2021)
Income Tax Appellate Tribunal (ITAT), Delhi, while providing the relief to the Zexus Air Services Pvt. Ltd., has ruled that actual receipt of money by.....
Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit
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, Ahmedabad: IBC to Have Overriding Effect Over Income Tax Proceedings(28.03.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that since the Insolvency and Bankruptcy Code, 2016 has overriding effect over the income tax.....
Tags : Income Tax Appellate Tribunal, Income Tax Proceedings, Liquidation
ITAT, Delhi Restricts Addition Only on Embedded Portion of Profit(19.04.2022)
Income Tax Appellate Tribunal, Delhi has observed that the addition due to mismatch amid the Books of Accounts and Form 26AS can be made only on the e.....
Tags : Income Tax Appellate Tribunal, Books of Accounts, Form 26AS, embedded profit portion
ITAT, 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: Outstanding Balances cannot be treated as ‘Bogus’ when Payment made through Banking Channels(05.05.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has observed that the outstanding balances cannot be suspected as bogus when the payments to par.....
Tags : Income Tax Appellate Tribunal , Bogus Payments
ITAT, Mumbai Confirms Addition of Undisclosed Income of Renu T. Tharani(20.07.2020)
Income Tax Appellate Tribunal, Mumbai has allowed the sum of Rs 196 Crores held by HSBC Private Bank, Switzerland, in the name of Tharani Family Trust.....
Tags : Income Tax Appellate Tribunal, Renu T. Tharani
ITAT, Mumbai: Revisional Jurisdiction Invoked for Lack of Inquiry, Not for Inadequate Inquiry(08.04.2022)
Income Tax Appellate Tribunal, Mumbai has ruled that the revisional jurisdiction can be invoked only for lack of inquiry and not for inadequate inquir.....
Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction, lack of inquiry, section 263, Income Tax Act, 1961
ITAT, 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
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
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
ITAT: Onus To Prove Identity, Creditworthiness Etc of Transaction Lies on Assessee(30.05.2022)
Income Tax Appellate Tribunal, Pune has observed that the onus to prove identity, creditworthiness, and genuineness of a transaction lies with the ass.....
Tags : Income Tax Appellate Tribunal, assessee
ITAT, 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
#Major Changes Implementing From Today: New Tax Collected at Source (TCS) Regime(01.10.2020)
Income Tax Department has issued guidelines for applicability of Tax Collected at Source (TCS) provision which requires an e-commerce operator to dedu.....
Tags : Income Tax Department, Tax Colleced at Source, E-Commerce Operator
ITAT, 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: 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
Union Budget, 2019 – Income Tax Rate Increases(05.07.2019)
Union Finance Minister Nirmala Sitharaman has increased the income tax rate to 3 % for those earning Rs 2 to 5 crore and to 7 % for those above Rs 5 c.....
Tags : Union Budget 2019, Income Tax Rate
Delhi HC: Writ Remedy Cannot be Invoked in Tax Matters(02.05.2022)
Delhi High Court has held that the writ remedy under Article 226 of the Indian Constitution cannot be invoked in tax matters as the Income Tax Act, 19.....
Tags : Delhi High Court, article 226, Indian Constitution, Income Tax Act, 1961
ITAT: 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: Re-Assessment on Wrong Assumption And Information From Another Assessing Officer Invalid(16.05.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the reopening of assessment based on wrong assumption and information received from anothe.....
Tags : Income Tax Appellate Tribunal, assessing officer
ITAT: Not All Appellate Orders are Erroneous(30.06.2022)
Income Tax Appellate Tribunal (ITAT), Cuttack bench has advised the income tax department to be careful in filing the appeals against the orders of th.....
Tags : ITAT, Income Tax Department, Erroneous
ITAT, 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
Union Budget, 2019: No Change in Income Tax Slabs(05.07.2019)
Union Finance Minister Nirmala Sitharaman has informed there is no change in the income tax slabs being followed currently.
Tags : Union Budget 2019, Income Tax
ITAT, Cuttack: Source of Money Cannot be Doubted if Fixed Deposits Are Made Out of Savings(02.05.2022)
Income Tax Appellate Tribunal, Cuttack has observed that the cause of money cannot be doubted if the fixed deposits are made out of the savings of the.....
Tags : Income Tax Appellate Tribunal, fixed deposits, assessee
ITAT: Expenditure on Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....
Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software
ITAT, 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
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
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, Delhi: Notice u/s 143(2) to be Served within 6 Months(18.03.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the notice issued under section 143(2) of the Income tax Act, 1961 has to be served upon th.....
Tags : Income Tax Appellate Tribunal, Notice u/s 143(2)
Income Tax Re-Assessment Notice to a Dead Person is Invalid: Bombay HC(23.04.2019)
Bombay High Court has held that income tax notice sent in the name of a dead person is invalid though the information regarding the death was not give.....
Tags : Bombay High Court, Income Tax Re-Assessment Notice, Dead Person
ITAT, Delhi: Belated Payment of Employees Contribution to Provident Fund and Insurance Scheme(17.03.2022)
Income Tax Appellate Tribunal, Delhi has ruled that belated payment of employees' contribution to the Provident Fund and State Insurance Scheme cannot.....
Tags : Income Tax Appellate Tribunal, Belated Payment of Employees Contribution
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
Delhi High Court Holds That Assessee Is Eligible For Immunity and Tax Payer Should Be Incentivised(01.04.2022)
Delhi High Court has ruled that the action of income tax authorities to deny the benefit of immunity from penalty under Section 270AA of Income Tax Ac.....
Tags : Delhi High Court, Section 270AA of Income Tax Act, 1961, Section 270A, Tax Payer
CBDT: Trade Advances cannot be treated as ‘Deemed Dividend’(14.06.2017)
Central Board of Direct Taxes (CBDT) has clarified that trade advances would not attract provisions of “deemed dividend” under provisions of Section 2.....
Tags : Central Board of Direct Taxes, Income Tax Act
ITAT 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
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
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: 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: 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
Central Government notifies 'SEEPZ Special Economic Zone Authority' as an Authority constituted under the Special Economic Zone Act, 2005(20.04.2022)
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....
Tags : Special Economic Zone, Income Tax Act
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
Calcutta HC: Income Tax Dues of Company Couldn’t Recover Post-Liquidation(28.04.2022)
Calcutta High Court has upheld the notices issued against two directors of the Company by allowing for the fact that the income tax department was una.....
Tags : Calcutta High Court, garnishee notices, Income tax department, liquidation process
ITAT: 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 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
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
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
CBDT Relaxes Electronic Filing of Income Tax Forms 15CA / 15CB in View of Technical Difficulties(15.06.2021)
Central Board of Direct Taxes (CBDT) has relaxed the Electronic Filing of Income Tax Forms 15CA / 15CB, in view of the difficulties reported by taxpay.....
Tags : Central Board of Direct Taxes, Electronic Filing of Income Tax Forms 15CA / 15CB
ITAT, 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
Delhi HC: Change of Opinion Can’t be Reason to Believe to Obtain Income to Initiate Re-Assessment(18.05.2022)
Delhi High Court while dismissing an appeal by the Income tax department, has ruled that mere change of opinion cannot be a reason to believe that the.....
Tags : Delhi High Court, Income tax department, Sections 147, Sections 148, Income Tax Act, 1961
ITAT: 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, 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 Deletes Addition u/s 68 of IT Act, Says Firm not Taxable for Capital introduced by Partner(09.05.2022)
Income Tax Appellate Tribunal, Chennai has observed that the Firm cannot be made taxable for the capital introduced by the Partner as section 68 of th.....
Tags : Income Tax Appellate Tribunal, section 68, Income Tax Act, 1961
ITAT, 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
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: 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: Independent Building with More Than One Residential Unit Eligible for Capital Gain(27.09.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that an independent building with more than one residential unit within it shall be eligible .....
Tags : Income Tax Appellate Tribunal, Independent Building with More Than One Residential Unit
ITAT, 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
Delhi High Court Quashes Reassessment Order Issued Without Considering Reply Filed by Assessee(07.06.2022)
Delhi High Court has quashed the reassessment order issued by the department under Section 148A(d) of the Income Tax Act, without considering the repl.....
Tags : Delhi High Court, Income Tax Act, 1961, Reassessment
Delhi HC Directs Revenue to Grant Immunity Under Section 270AA(26.04.2022)
Delhi High Court has observed that the assessee cannot be prejudiced by the inaction of the Assessing Officer, directing the revenue to grant immunity.....
Tags : Delhi High Court, Section 270AA of the Income Tax Act, 1961, Assessing Officer
ITAT: 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, Mumbai: Shell India Not Taxable in India for Consideration Received from Resale of Software(27.09.2021)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that Shell India not taxable in India for consideration received from resale/use of the computer.....
Tags : Income Tax Appellate Tribunal, Shell India
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
Income Tax Return Deadline for Financial Year 2018-19 Extended to August 31(24.07.2019)
Ministry of Finance has extended the deadline for filing income tax return for Financial Year 018-19 by individuals to August 31, 2019 from July 31, 2.....
Tags : Income Tax Return, Deadline
ITAT, Jodhpur Grants Tax Exemption to Charitable Trust Providing Mid-Day Meals(16.07.2020)
Income Tax Appellate Tribunal (ITAT), Jodhpur has allowed income tax exemption to a charitable Trust engaging in the activity of providing mid-day mea.....
Tags : Income Tax Appellate Tribunal, Charitable Trust Providing Mid-Day Meals
ITAT, 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: 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
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
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, 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
ITAT, Ahmedabad: Third Party Shareholders Renouncing Rights Shares is Liable to Tax U/S 56(2)(10.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has ruled that third party shareholders renouncing rights shares in favour of the assesse are liable to tax u.....
Tags : Income Tax Appellate Tribunal, assesse, Section 56(2), Income Tax, 1961
ITAT, Kolkata: Adjudicating Authorities Cannot Grant Approval U/S 10(23C) With Retrospective Effect(27.04.2022)
Income Tax Appellate Tribunal, Kolkata has ruled that the adjudicating authorities under the Income Tax Act, 1961 cannot grant approval under section .....
Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, section 10(23C), retrospective
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, 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, 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
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, Pune: Income from Sale of Software License Not ‘Royalty’ Under Indo-US DTAA(17.06.2021)
Income Tax Appellate Tribunal (ITAT), Pune has held that the income from the sale of software license cannot be treated as “royalty” for the purpose o.....
Tags : Income Tax Appellate Tribunal, Income from Sale of Software License
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
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
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
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
ITAT, Bangalore: Service Tax Collected But Not Remitted Can be Disallowed u/s 43B of Income Tax Act(18.04.2022)
Income Tax Appellate Tribunal, Bangalore has ruled that the amount of service tax collected under section 43B of the Income Tax Act, 1961 but not remi.....
Tags : Income Tax Appellate Tribunal, service tax, section 43B of the Income Tax Act, 1961
ITAT, Pune: Capital Gain Exemption u/s 54F for Purchase of Office Premises not available(08.04.2022)
Income Tax Appellate Tribunal, Pune has observed that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available in the.....
Tags : Income Tax Appellate Tribunal, capital gain exemption, Income Tax Act, 1961, office premises
ITAT, 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
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, 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: Amendment on Sec.36(1)(va) Has Prospective Effect(30.05.2022)
Income Tax Appellate Tribunal, Raipur while quashing the order confirming disallowances of Rs. 18,12,622/- out of employment contribution towards EPF/.....
Tags : Income Tax Appellate Tribunal, amendment, prospective
ITAT, Mumbai: Leaseholder’s Expenses Not Capital Expenditure(23.02.2021)
Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the pur.....
Tags : Income Tax Appellate Tribunal, Leaseholder’s Expenses
Del. HC: ITSC Can Only Grant Immunity from Penalty & Prosecution in Case of Full & True Disclosure(15.04.2024)
Delhi High Court has held that the power to grant immunity from penalty and prosecution is entrusted to the Income Tax Settlement Commission (ITSC) on.....
Tags : Delhi High Court, Income Tax Settlement Commission, Penalty & Prosecution, True Disclosure
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, Delhi: Fulfillment of Twin Conditions is Mandatory for Invoking Jurisdiction u/s 263(19.04.2022)
Income Tax Appellate Tribunal, Delhi has observed that fulfillment of twin conditions is obligatory for invoking the jurisdiction under section 263 of.....
Tags : Income Tax Appellate Tribunal, section 263 of the Income Tax Act, 1961, jurisdiction
ITAT, Delhi: Subscriber Fee Not Taxable as Royalty as Per India-Singapore DTAA(28.03.2022)
Income Tax Appellate Tribunal, Delhi has held that the subscriber fee would not be taxable as royalty as per the India-Singapore Double Taxation Avoid.....
Tags : Income Tax Appellate Tribunal, Subscriber Fee
ITAT, 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, 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, Mumbai: Interest Income Earned by HSBC Bank Not Eligible to Tax(14.07.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that interest income of Rs 1,498 crore earned by HSBC Bank during the assessment year 2015-16 f.....
Tags : Income Tax Appellate Tribunal, HSBC Bank
Pat. HC: Section 45(5A) of Income Tax Act cannot be Treated as Retrospective(17.05.2023)
Patna High Court has held that Section 45(5A) of Income Tax Act 1961 can’t be treated as retrospective, and stated that there is presumption against r.....
Tags : Patna High Court, Income Tax Act, Retrospective
Govt: NRIs Not Having Indian Bank Accounts to get Income Tax Refund in Foreign Bank Account(26.07.2017)
Government has said that Income Tax Refunds will be credited to Foreign Bank Account also for Non-Residents who is not having bank account in India.
Tags : Income Tax Refunds
ITAT: Expenditure On Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....
Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software
ITAT, Kolkata: No Revision U/S 263 IT Act When AO Has Made Sufficient Enquiry(17.05.2022)
Income Tax Appellate Tribunal, Kolkata has ruled that no revision under Section 263 of the Income Tax Act, 1961 when Assessing Officer has made suffic.....
Tags : Income Tax Appellate Tribunal, Section 263, Assessing Officer
ITAT, 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
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
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,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
Wrong Name in Assessment Order Can’t be Cured by Invoking Section 292B: ITAT(19.07.2018)
Income Tax Appellate Tribunal (ITAT) held that mentioning of wrong name in an assessment order cannot be cured by invoking Section 292B of Income Tax .....
Tags : Income Tax Appellate Tribunal, Section 292B of Income Tax Act, 1961
ITAT, Delhi: Non Production of Persons Despite Summons Leads to Inference of Routing Own Money(09.03.2022)
Income Tax Appellate Tribunal, Delhi has ruled that an Assessing Officer has the power to verify transactions beyond the paperwork submitted by the As.....
Tags : Income Tax Appellate Tribunal, Non Production of Persons
ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)
Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....
Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt
ITAT, Mumbai: Provisions of Black Money Act Cannot be Invoked for Minor Breach of Law(06.04.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has observed that the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Impositio.....
Tags : Income Tax Appellate Tribunal, Black Money Act
ITAT, Delhi Upholds Income Tax Addition of 3.9 Crores against Indian Franchise of KFC, Pizza Hut(07.07.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has upheld an Income Tax addition of Rs. 3,91,94,260 against Indian franchise of KFC, Pizza Hut, holding t.....
Tags : Income Tax Appellate Tribunal, KFC, Pizza Hut
ITAT, 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: 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
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
# 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
No TDS Since Roaming Charges Is Not Fee for Technical Services: ITAT, Chennai(07.12.2017)
Income Tax Appellate Tribunal (ITAT), Chennai has held that roaming charges cannot be considered as fee for technical services, hence there is no need.....
Tags : Income Tax
SC: No Penalty Under S.271C of IT Act for Mere Delay in Remittance of TDS(11.04.2023)
Supreme Court while observing that words used in Section 271C(1)(a) are ‘fails to deduct’, and the same doesn’t speak about belated remittance of TDS,.....
Tags : Supreme Court, TDS, Remittance, Income Tax Act
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, 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, 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
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
Angel Investments in Small Start-ups Get Tax Exemption(28.05.2018)
Income Tax Department has exempted from tax the investments that small start-ups receive from angel investors above their fair valuation.
Tags : Income Tax Department, Start-ups
ITAT, 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, 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
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, Ahmedabad: Payments to Medical Labs for Screening of Sickle Cell Anemia Subject to TDS(22.04.2022)
Income Tax Appellate Tribunal, Ahmedabad has held that under sections 194J and 194C of the Income Tax Act, 1961 is applicable to the payments made to .....
Tags : Income Tax Appellate Tribunal, Income Tax Act, sickle cell anemia, medical labs
ITAT, Delhi: Non-Appearance Before Authorities to Imply Assessee Has Nothing to Rebut(04.04.2022)
Income Tax Appellate Tribunal Delhi has observed that the income tax proceedings are attached with the presumption of truth and the non-appearance bef.....
Tags : Income Tax Appellate Tribunal, income tax proceedings, presumption of truth, rebut
ITAT, Delhi: Revision of Orders Prejudicial to Revenue Not to be Invoked for Computational Error(02.06.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the provision related to revision of orders prejudicial to revenue under Section 263 of the.....
Tags : Income Tax Appellate Tribunal, Revision of Orders
ITAT, Mumbai: Depreciation Allowable on Marketing Information and Non-Compete Fee(11.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the depreciation is allowable on intangible assets such as marketing information comprising of.....
Tags : Income Tax Appellate Tribunal, depreciation, intangible, marketing information, Commercial information, Customer data, Distribution network, Suppliers contract, Non-compete fees
ITAT, 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, 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
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
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
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
Allahabad HC Says 'No' to Benefit u/s 80G of IT Act on Mere Fulfillment of Conditions u/s 10(23)(c)(06.06.2017)
Allahabad High Court has held that benefit of Section 80G of Income Tax Act cannot be granted to assessee merely on ground that it satisfies all condi.....
Tags : Allahabad High Court, Income Tax Act
ITAT: Consideration For Accessing Database Cannot Be Treated As 'Royalty'(08.03.2022)
Delhi Bench of Income Tax Appellate Tribunal (ITAT) has observed that the consideration for accessing Database cannot be treated as 'Royalty' under In.....
Tags : Income Tax Appellate Tribunal, Double Taxation Avoidance Agreement, India-US
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
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: 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: Sufficiency or Correctness of Material Need not be Considered During Issue of Notice(12.04.2022)
Delhi High Court has observed that the sufficiency or correctness of the material is not a thing to be considered at the stage of issue of notice unde.....
Tags : Delhi High Court, Section 148 of the Income Tax Act, 1961
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: If TDS Statement filed on Time Contains Technical Errors, No Late Fee Can be Charged(11.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has held that a late fee under section 234E of the Income Tax Act of 1961 cannot be imposed if a statement is.....
Tags : Income Tax Appellate Tribunal, section 234E, Income Tax Act
ITAT, Bangalore: Transactions Between Trust and Trustee Not Covered U/S 269SS of Income Tax Act(28.04.2022)
Income Tax Appellate Tribunal, Bangalore has ruled that the managing trustee of the society is not covered by the expression any other persons stirrin.....
Tags : Income Tax Appellate Tribunal, section 269SS, 269T of the Income Tax Act, 1961
ITAT, 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, 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
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
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
Government Prescribes Procedure to Furnish Form 67 to Claim Foreign Tax Credit(26.09.2017)
Central Government has prescribed the procedure to be followed to furnish Form 67 to claim foreign tax credit under the provisions of the Income Tax A.....
Tags : foreign tax credit, Income Tax Act, 1961
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, 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
ITAT, Amritsar Allows Registration Under Section 12A to Educational Welfare Society(19.10.2021)
Income Tax Appellate Tribunal (ITAT), Amritsar has allowed Registration under Section 12A of the Income Tax Act, 1960 to an Educational Welfare Societ.....
Tags : Income Tax Appellate Tribunal, Educational Welfare Society
ITAT, Delhi: TDS Required to be Deductible on Commission to Overseas Agents(15.09.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has held that the Tax Deducted at Source (TDS) is required to be deductible on the amount of commission pa.....
Tags : Income Tax Appellate Tribunal, Commission to Overseas Agents
ITAT, 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
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
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
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: 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
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
Calcutta HC Quashes Re-Assessment Passed Without Application of Mind(04.04.2022)
Calcutta High Court has observed that the re-assessment passed under section 148 of the Income Tax Act, 1961 without the application of mind is not su.....
Tags : Calcutta High Court, section 148 of the Income Tax Act, 1961, Quashment of Re-Assessment
Payment of Tax Before Issue of SCN Not a Bar to Impose Penalty: Delhi High Court(08.08.2018)
Delhi High Court has held that the payment of tax amount before the issuance of show cause notice would not absolve the assessee from imposing penalty.....
Tags : Delhi High Court, Income Tax
Constitutional Validity of S. 71(3A) of IT Act Upheld by Delhi High Court(03.06.2024)
Delhi High Court has upheld the constitutional validity of Section 71(3A) of the Income Tax Act, 1961 which was added by Section 31 of the Finance Act.....
Tags : Delhi High Court, Constitutional Validity, Income Tax Act, 1961
ITAT, Delhi Upholds Order Against Gandhi Family on Commercial Immovable Property(06.04.2022)
Income Tax Appellate Tribunal, Delhi has upheld the case against the Gandhi family in relation with commercial immovable properties worth more than Rs.....
Tags : Income Tax Appellate Tribunal, Gandhi family, commercial immovable properties, Rs 800 crore, Young Indian, share capital of Rs 5 lakh, hawala entry, Rs 1 crore
Delhi HC: Exemption Cannot be Denied to Charitable Entity for Advertising Scholarship(12.04.2022)
Delhi High Court has observed that the exemption under the provisions of the Income Tax Act, 1961 can’t be denied to a charitable entity merely becaus.....
Tags : Delhi High Court, exemption, Income Tax Act, 1961, scholarship
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
ITAT: No Documentary Evidence to Substantiate PRP as Expenditure, Claim is Not Sustainable(07.09.2022)
Income Tax Appellate Tribunal, Kolkata has observed that the claim of Performance Related Pay (PRP) is not sustainable when no documentary evidence wa.....
Tags : Income Tax Appellate Tribunal, Performance Related Pay, documentary evidence
ITAT, 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
NCLAT: Cannot Withhold Income Tax Refund Received by Bank During CIRP In CD's Account(11.07.2025)
NCLAT New Delhi bench has held that during the Corporate Insolvency Resolution Process, Income Tax Refund received by the bank in the corporate debtor.....
Tags : NCLAT New Delhi, Income Tax Refund, Corporate Debtor
Delhi HC: Income Tax Evasion Complaint Not Premature Despite Pending Reassessment(12.08.2025)
Delhi HC has held that pending reassessment does not bar prosecution under Sections 276-C/277 of the Income Tax Act. The complaint by an authorised of.....
Tags : Delhi High Court, Income Tax Act, Tax Evasion, Criminal Prosecution, Neena Bansal Krishna
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
SC: Restriction u/s 80-IA(9) of the Income Tax Act, 1961 is Not on Computing the Total Gross Income(22.05.2025)
Delhi HC has observed that the restriction under sub-section (9) of Section 80-IA of the Income Tax Act, 1961 is not on computing the total gross inco.....
Tags : Delhi High Court, Income Tax Act, Total Gross Income
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, Bangalore: Payment to Federation of Indian Mineral Industries Deductible Business Expenditure(24.08.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payment made to the federation of Indian Mineral Industries is deductible from the b.....
Tags : Income Tax Appellate Tribunal, Payment to Federation of Indian Mineral Industries
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
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
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, 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, 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
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
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, 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: No Restriction in Challenging Intimation Passed on Ratification of Mistake(16.09.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that there is no restriction in challenging intimation passed on ratification of mistake unde.....
Tags : Income Tax Appellate Tribunal, Ratification of Mistake
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
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
CBDT further extends date for filing Income Tax Returns and Audit Reports(08.10.2018)
The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-2019 is 30th September, 2018 for certain categories of taxpay.....
Tags : Income Tax Returns, Date, Extension
Company can Claim Income Tax Credits on Maintenance of Guest House, Training Hostels: AAR(16.10.2018)
Authority for Advance Ruling, Odisha has granted a ruling on entitlement to take credit of tax paid on various goods and services used for maintenance.....
Tags : AAR, Income Tax Credits
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
Supreme Court Fines Income Tax Department Rs 10 Lakh for 'Misleading' It(29.08.2018)
Supreme Court has imposed a fine of Rs 10 lakh on the Income Tax department for reportedly trying to mislead it.
Tags : Supreme Court, Income Tax
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: 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
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
Karnataka HC: Non-Compliance of SOP Should Not be Ground to Prohibit Candidate from Writing Exam(30.07.2020)
Central Board of Direct Taxes ( CBDT ) has extended the due date of filing Income Tax Returns for the Financial Year 2018-19 to 30th September 2020.
Tags : Central Board of Direct Taxes, Income Tax Returns
ITAT, 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
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, 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
PAN Must for Cash Payment of Hotel Bill over Rs 50,000 from Tomorrow(31.12.2015)
Furnishing PAN has been made mandatory from tomorrow for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000. Department of In.....
Tags : PAN , Department of Income Tax
SC: Erstwhile Rulers Need Not Pay Tax On Income From Leasing Palaces(13.12.2016)
Supreme Court has held that Erstwhile rulers are not required to pay tax on income earned by letting out a portion of their residential palace.
Tags : Supreme Court, Erstwhile rulers, residential palace, income tax
Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency(14.12.2016)
Under the existing provisions of Section 139(5) of the Income-tax Act, 1961 ('Act'), Revised Return can only be filed if any person, who has filed a r.....
Tags : Income Tax, Returns, Filing
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
Bombay High Court: Interest from Motor Accident Compensation not Subject to Income Tax(12.08.2019)
Bombay High Court has ruled that the income tax should not have been deducted from the interest on the motor accident compensation awarded by the cour.....
Tags : Bombay High Court, Income Tax
ITAT: Income Tax Penalty U/S 271E Cannot be Levied In Absence of Regular Assessment(13.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has ruled that the income tax penalty under Section 271E of the Income Tax Act, 1961 cannot be levied in the .....
Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Section 271E, assessee
ITAT, 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
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
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, Indore: Denial of Opportunity to Cross-Examine Parties Would be Violation of Natural Justice(23.09.2021)
Income Tax Appellate Tribunal (ITAT), Indore has held that the denial of opportunity to the assessee to conduct cross-examination of the parties who h.....
Tags : income Tax Appellate Tribunal, Violation of Natural Justice
ITAT, Mumbai: 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
Madras High Court Sets Aside Notices by I-T Dept Against Chidambaram, Family(03.01.2018)
Madras High Court has set aside a batch of notices issued by the Income Tax department against former Union Finance Minister P Chidambaram and his fam.....
Tags : Madras High Court, Income Tax
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, Mumbai: No TDS on Sales Commission Paid to Overseas Agents(04.12.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that tax cannot be detected at source on Sales Commission paid to Overseas Agents not having Per.....
Tags : Income Tax Appellate Tribunal, Sales Commission Paid to Overseas Agents
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: 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
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, 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, 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
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, 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
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
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, 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
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: 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
ITAT, Kolkata Deletes Addition as Interest on Loan After Deduction of TDS(22.10.2021)
Income Tax Appellate Tribunal (ITAT), Kolkata has deleted the addition as interest on Loan duly paid by the assessee after deducting Tax Deducted at S.....
Tags : Income Tax Appellate Tribunal, Interest on Loan After Deduction of TDS
Bom. HC: Advance to Shareholder Not Used for Company’s Business Will be Treated as Deemed Dividend(18.08.2025)
Bombay HC has ruled that advances given by a company to a shareholder, if not proven to be used for the company’s business, will be treated as deemed .....
Tags : Bombay High Court, Income Tax Act, Section 2(22)(e), Deemed Dividend, Shareholder Advance
ITAT, Bangalore: EY Entitled to Deduction Under Section 10AA on Voluntary Transfer Pricing Adjustment(25.11.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that the assessee is entitled to deduction under Section 10AA of the Income Tax Act, 1961 on .....
Tags : Income Tax Appellate Tribunal, EY, Voluntary Transfer Pricing Adjustment
ITAT, Mumbai: 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
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: Currency Derivative Can be Treated As An Eligible Transaction U/S 43(5)(30.05.2022)
Income Tax Appellate Tribunal, Delhi has observed that currency derivatives can be treated as eligible transactions under Section 43(5) of the Income .....
Tags : Income Tax Appellate Tribunal, transactions
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: 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
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, 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
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
Government Notifies E-Assessment Scheme 2019 for Faceless Scrutiny of Income Tax Return(16.09.2019)
Central Government has notified that the E-assessment Scheme, 2019 that aims to completely eliminate the interactions between the tax authorities and .....
Tags : E-Assessment Scheme 2019, Income Tax Return
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
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
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
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
ITAT, Bangalore: Irrecoverable Advances for Land for Real Estate Development Business Allowable(02.05.2022)
Income Tax Appellate Tribunal, Bangalore has ruled that the advances agreed for purchase of land in the normal course of business of carrying on real .....
Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Real estate development
ITAT, 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
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, Delhi: Provision of Ground Rent Shall Not be Allowable Under Section 43B Income Tax Act(03.08.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has held that the provision of ground rent shall not be allowable under section 43B of the Income Tax Act,.....
Tags : Income Tax Appellate Tribunal, Provision of Ground Rent
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
ITR Filing Date Extended from 31st July to 15th September(28.05.2025)
Central Board of Direct Taxes has extended the due date for filing Income Tax Return (ITR) from 31st July 2025 to 15th September 2025 to facilitate sm.....
Tags : CBDT, Income Tax Return, Taxpayers
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, 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
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, Delhi: Fee for Cloud Services Not Royalty(27.04.2022)
Income Tax Appellate Tribunal, Delhi while granting relief to a subsidiary company of Information Technology giant Microsoft Corporation, Ministry of .....
Tags : Income Tax Appellate Tribunal, Information Technology, Microsoft Corporation, Ministry of Law Corporation, subscription fee, royalty, cloud computing
ITAT, 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
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, 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, 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