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ITAT Corrects Misinterpretation of Section 80G(5) Proviso by CIT(E): Assessee’s Timely Application for Final Registration Upheld

February 20, 2024 1431 Views 0 comment Print

Dive into the ITAT Kolkata order on West Bengal Welfare Society’s appeals against rejection of registrations under sections 12AA and 80G of the Income Tax Act.

Delay of more than 3000 days in Appeal filing: ITAT Chennai dismisses appeal

February 20, 2024 639 Views 0 comment Print

Adithya Ferro Alloys Pvt Limited Vs ITO (ITAT Chennai) Adithya Ferro Alloys Pvt Limited (the assessee) filed appeals for various quarters of Assessment Years (AY) 2013-14 & 2014-15 against fees levied under section 234E by the TDS, CPC for late filing of quarterly TDS returns. The appeals were delayed by more than 3000 days, leading […]

Section 80P(2)(a)(i) deduction not allowed if not claimed in Tax Return

February 20, 2024 1182 Views 0 comment Print

Explore the ITAT Mumbai’s ruling on Datta Prasad Sahakari Patsanstha’s appeal against the denial of deduction under section 80P(2)(a)(i) for the assessment year 2011-12.

PCIT’s exercise of Section 263 jurisdiction while issue is pending before CIT(A) is invalid

February 20, 2024 723 Views 0 comment Print

Once an appeal is lodged with CIT(A), the PCIT’s authority to revise assessment under Section 263 is circumscribed – Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)

Source for making or earning income of payer of FTS outside India is not taxable in India

February 20, 2024 978 Views 0 comment Print

ITAT Delhi held that as conditions prescribed in exception to section 9(1)(vii)(b) stand fulfilled, it cannot be taxed as FTS. Further, the source for making or earning any income of the payer of fee for technical services, in the present case, is outside India, and therefore not taxable in India.

Cost of funds for earning interest income, assessed under section 56 is allowable

February 20, 2024 549 Views 0 comment Print

Dive into the ITAT Bangalore judgment – Deepa Credit Co-op vs ITO. Learn about interest income, deduction claims, and the impact on the Assessment Year 2017-18.

Section 43B doesn’t apply to service tax not routed through P&L

February 20, 2024 1611 Views 0 comment Print

Explore the ITAT Delhis decision on the disallowance of service tax by ACIT in the case of S & A Finman Ltd. for the assessment year 2012-13. The article provides insights into the legal arguments and precedents.

ITAT deletes addition for Long Term Capital Gain from shares of Pine Animation Ltd.

February 20, 2024 1146 Views 0 comment Print

Delve into the detailed analysis of the ITAT Mumbai ruling in ACIT Vs Priyanka Ankit Miglani case regarding long-term capital gains from share sales and the application of Section 10(38) of the Income Tax Act.

Proviso to Section 56(2)(vii)(b): Stamp Duty Value on Date of Agreement applies

February 19, 2024 4404 Views 0 comment Print

Explore the details of Shyamkumar Madhavdas Chugh Vs ACIT case at ITAT Delhi. Analysis of additions, considerations, and legal perspectives leading to the verdict.

No Section 194J TDS if Consultancy Charges not exceeds Rs. 30,000: ITAT

February 19, 2024 3681 Views 0 comment Print

Read the full text of ITAT Delhi’s order in Sunil Ghorawat vs ACIT case. Analysis of no TDS on consultancy charges under Sec 194J and short term capital loss disallowance.

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