Income received by assessee-UK telecom company from an Indian telecom company for rendering roaming services to customers abroad was not ‘royalty’ as assessee-UK had not provided any right, as mentioned in Explanation 2 to Section 9(1)(vi), or any kind of use of any process or equipment to VIL
ITAT Mumbai held that the partner should be entitled to all the deductions which he was entitled while computing his share of profits in the firm. Thus, interest expenditure incurred by the assessee, as capital was introduced from borrowed funds, should be allowed as expenditure against remuneration income from the firm.
CESTAT Delhi remanded the matter to designated authority in the matter of imposition of anti-dumping duty on imports of MEG ‘Mono Ethylene Glycol’ as selective examination with respect to only one period was made as base for determination of injury.
In a crucial ruling, ITAT Chennai allows Section 54F deduction for a new residential property purchase, clarifying tax implications. Learn more in this detailed analysis.
Income Tax Department conducts search & seizure operation in Tamil Nadu and Puducherry, revealing tax evasion, unaccounted funds, and diversification in education and other businesses.
In a case involving Smt. Madhuvalli Lakamraju vs. ADIT, ITAT Hyderabad deletes the addition under section 68 of the Income Tax Act due to lack of source for cash deposits.
DGGI reveals over 6,000 fake ITC cases, ₹57,000 Cr GST evasion, and 500 arrests from April 2020 to September 2023. Explore the fight against GST evasion.
Supreme Court held that services provided by the educational institutions IIT, Patna and NIT, Rourkela to the Government/ local authorities/ governmental authorities are eligible for exemption from service tax.
ITAT Delhi restores a case involving Golden Traders vs. ITO due to the assessee’s failure to compile data during the COVID-19 pandemic, challenging an addition under Section 69B.
Kerala High Court’s directive to the IT Commissioner regarding recovery proceedings and an appeal filed by Peroorkada Service Co-Operative Bank Ltd under Section 80P of the Income Tax Act.
