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ITAT Ruling on Taxability of FTS, in absence of specific clause in DTAA

April 21, 2024 1170 Views 0 comment Print

Learn about the tax dispute between Diamond Manufacturing Management and the Indian Revenue Authority, involving fees for technical collaboration and the absence of Permanent Establishment.

PCIT cannot assume revisional jurisdiction on debatable issue of Tax on Interest u/s 28 of land Acquisition Act

April 19, 2024 444 Views 0 comment Print

Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT’s jurisdiction limitations on tax issues under Land Acquisition Act Section 28.

PCIT cannot assume revisional jurisdiction on debatable issue of Tax on Interest under land Acquisition Act

April 19, 2024 324 Views 0 comment Print

Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interest received under section 28 of the Land Acquisition Act was resolved.

Assessment void if section 143(2) jurisdictional notice was issued beyond prescribed time limit

April 18, 2024 4080 Views 0 comment Print

Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Section 143(2) notice.

ITAT Upholds PCIT’s Decision on Erroneous Assessment Orders and Inadequate Inquiries in Tax Evasion Case

April 18, 2024 594 Views 0 comment Print

ITAT upholds PCIT’s decision on erroneous assessment orders in tax evasion case. Changela’s appeals dismissed as inadequate inquiries led to erroneous orders.

Expenses Cannot Be Disallowed Without Assessee’s Claim in the Relevant Year

April 18, 2024 747 Views 0 comment Print

Analyzing the case of Sunil Dhirubhai Patel vs ITO, where expenses were disallowed despite not being claimed by the assessee, and how the ITAT Ahmedabad ruled in favor of the assessee.

ITAT upholds disallowance of Sponsorship Fee unrelated to business

April 18, 2024 297 Views 0 comment Print

Yala Construction Co. Pvt Ltd’s disallowances upheld by ITAT Delhi include depreciation, interest on loan, commission, and sponsorship fee. Detailed analysis and conclusion provided.

Income determination in assessment cannot dictate filing of ITRs: ITAT Quashes section 271F Penalty

April 18, 2024 1314 Views 0 comment Print

ITAT Ahmedabad quashes penalties under Section 271(1)(b) & 271F of the Income Tax Act, emphasizing that income determination in assessment orders cannot dictate filing of ITRs.

Section 263 Inapplicable if Detailed Enquiry Conducted & No Prejudice to Revenue Interests

April 17, 2024 1131 Views 0 comment Print

Discover the case of Brahmaputra Property Hub Private Limited Vs ITO (ITAT Guwahati) regarding Section 263 of the Income Tax Act, 1961. Learn why detailed inquiry matters.

No Addition without Incriminating Material for completed/unabated Assessment Years

April 17, 2024 2136 Views 0 comment Print

Explore the case of DCIT Vs. Bengal Brahmaputra Realty Limited (ITAT Guwahati) and understand the significance of incriminating material in income tax assessments for completed or unabated years.

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