Learn about taxability of House Rent Allowance (HRA) under Section 10(13A) of Income Tax Act, including exemptions and calculations. Example provided.
Explore GST implications on director services and remuneration in India. Learn about categories, recent updates, and compliance for effective tax planning
Explore the New Tax Regime (Section 115BAC) introduced in the Income Tax Act, 1961 by the Indian government. With lower tax rates and simplified rules, discover its applicability, income tax rates for FY 2023-24, and the impact on exemptions. Make informed choices for FY 2023-24 with our detailed guide.
Read full text of judgment in Pandian Anbalagan Vs ITO case. Madras High Court rules the assessment order against a struck-off company as void, highlighting need for revival.
Read full text of judgment in the case of K. Sivasubramaniam (Deceased) vs ITO by Madras High Court. Detailed analysis of assessment order, brokers’ payments, and a clear non-application of mind in impugned order
In present facts of the case, the National Commission while dismissing the Complaint observed that in the absence of any omission, rashness negligence much less gross negligence the allegation made against the Opposite Parties have not been established and hence no relief could be made out.
ITAT Delhi held that revenue received by the assessee for providing centralized services is not in the nature of Fee for Technical Services (FTS) u/s. 9(I)(vi) Explanation of Income Tax Act, but it is a business income and since assessee is not having PE in India, the same is not taxable.
Bombay High Court held that no assessment can be reopened merely on the basis of change of opinion. Accordingly, initiation of re-assessment proceedings under section 148 of the Income Tax Act is unsustainable in law.
ITAT Mumbai held that there was no express arrangement / agreement between the assessee and the AE for incurring advertisement, marketing and promotional expenses (AMP) to promote the brand of the AE and hence the said transactions would not constitute international transaction relating to AMP expenditure. Thus, TP adjustment deleted.
NCLT Ahmedabad held that the resolution plan submitted by the Resolution Professional of Superdrawn Industries Private Limited (Corporate Debtor) stands approved at it has been approved with 100% voting share and plan meets the requirement of being viable and feasible.
