An employee should be employed for 300 days or more during the previous year should be applied cumulatively across the year of hiring and the following year, rather than restricting it to the first year.
ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Section 112A. Assessee’s appeal dismissed.
Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ensuring that the sale is recorded in the system and adds a layer of authenticity.
It was held that considering the provisions of CBDT Circular No. 1916 and the explanation provided by the assessee, the seized gold jewellery up to the specified thresholds for each family member should be treated as explained.
ITAT Bangalore sets aside CIT(A) order, allowing Mohammed Amer Ul Haq a fresh opportunity to present his case due to non-receipt of notices.
Bangalore ITAT rejects DVO valuation, upholds equal treatment for co-owners in capital gains case, citing Supreme Court precedent.
Bangalore ITAT overturns AO’s PE classification of QlikTech India, orders fresh review based on TPO order, addresses TDS and interest issues.
ITAT Bangalore reverses addition of ₹12 lakh under Section 68, accepting sales as the source of cash deposits made during demonetization by Raju Rajesh.
ITAT Bangalore sets aside AO’s decision in Qlik Tech International AB vs DCIT, addressing PE classification, TDS credit, and tax refund interest disputes.
Additional income offered by assessee on account of cash and excess stock is liable to be taxed as business income and not unexplained investment under section 69A at special rates of 115BBE.
