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Section 234B

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Implications of amendment in Section 43B to taxpayers and SMEs

Income Tax : Understand the impact of the Section 43B amendment on taxpayers and SMEs in India. Learn about deductions, compliance, and implica...

February 6, 2024 1491 Views 0 comment Print

Inform your current employer about the previous employment and salary

Income Tax : Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interes...

January 9, 2024 1728 Views 0 comment Print

Pay 3rd Instalment Advance Tax for AY 2024-25 by 15th Dec: Guidelines & Example

Income Tax : Understand how to pay your 3rd instalment of Advance Tax for the Assessment Year 2024-25 before the deadline on 15th December. Det...

December 8, 2023 5940 Views 0 comment Print

Levy of Interest u/s 234B: Tenability in Excess Refund Cases

Income Tax : This article examines the tenability of levy of interest u/s 234B in cases of excess refund claimed by taxpayers under the Income ...

July 26, 2023 1410 Views 0 comment Print

Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...

July 25, 2023 482061 Views 4 comments Print

Latest News

Request to CBDT to permit delayed filing of Form 10IC

Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of  time limit by condoning delay Issuance of Order under Section ...

February 4, 2022 9522 Views 1 comment Print

AOTAA files PIL before Orissa HC on the issue of late fee, interest & penalty under Income Tax

Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...

January 13, 2022 4419 Views 1 comment Print

Belated Release of ITRs and burden of Interest U/s. 234 B

Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...

June 4, 2015 2775 Views 0 comment Print

Latest Judiciary

Employee Salary Reimbursement Not Taxable as FTS under India-Japan DTAA

Income Tax : Understand the grounds of appeal in the case against the final assessment order under the Income Tax Act, 1961, for AY 2017-18, in...

May 24, 2024 141 Views 0 comment Print

No Section 69A Addition for Monies Recorded in Bank Statements: ITAT Bangalore

Income Tax : Understand the ITAT Bangalore ruling on Sudarshan Purushothama Vs ITO, where addition u/s. 69A of the Income Tax Act was contested...

May 23, 2024 3765 Views 0 comment Print

IT Support Payments Not FTS under Article 12 of India-Netherlands DTAA

Income Tax : In a landmark ruling, ITAT Mumbai provides relief to Shell IT, asserting that payments for IT support aren't considered FTS under ...

May 18, 2024 297 Views 0 comment Print

Section 44BB does not override provisions related to PE or DTAA benefits

Income Tax : Read the detailed analysis of Computer Modelling Group Ltd. vs. ACIT (ITAT Delhi) regarding interest leviable from the assessee fo...

May 9, 2024 234 Views 0 comment Print

Consider Volume Discount & Geographic Price Variation in TP Adjustment: ITAT Ahmedabad

Income Tax : Ahmedabad ITAT's order in Atul Limited vs DCIT case discusses TP adjustments, volume discount, geography adjustments, and more. De...

May 8, 2024 180 Views 0 comment Print

Date of handing over of possession of new property relevant for deduction u/s. 54

September 11, 2023 951 Views 0 comment Print

ITAT Delhi held that deduction under section 54 of the Income Tax Act is allowable based on handing over of possession and not based on payment of consideration. Date of handing over of possession of new property is relevant for deduction u/s. 54.

Expense incurred to remove impediments/ encumbrances allowable as cost of improvement

September 11, 2023 900 Views 0 comment Print

ITAT Ahmedabad held that the expenses incurred to remove impediments or encumbrances in way of transfer of capital asset has to be allowed as deduction under the head ‘cost of improvement’ while computing taxable amount of capital gain.

Section 153A: No Addition Without Incriminating Evidence in Unabated Assessment

September 9, 2023 1266 Views 0 comment Print

ITAT Chennai in Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT held that no addition could be made under section 153A in absence of incriminating evidence resulting from a search, especially if assessment is unabated.

Payment towards interconnectivity utility charges from Indian customers not taxable as Royalty

September 9, 2023 789 Views 0 comment Print

ITAT Bangalore held that payments received towards interconnectivity utility charges from Indian customers / end users cannot be considered as Royalty to be brought to tax in India under section 9(1)(vi) of the Income Tax Act and also as per DTAA.

Unsustainable Addition for Cash Sales when No Stock Discrepancy Detected

September 9, 2023 822 Views 0 comment Print

In the case of Metro Filling Station vs. ITO (ITAT Delhi), an addition for unexplained cash deposits was challenged. The tribunal ruled in favor of the assessee.

Foreign tax credit eligible as form no. 67 filed before processing return

September 9, 2023 1320 Views 0 comment Print

ITAT Mumbai held that as Form No. 67 has been filed by the Appellant before the processing the return of income under Section 143(1) of the Income Tax Act, foreign tax credit is duly eligible.

Royalty or technical charges income of non-resident taxable in India on receipt basis under India-Switzerland DTAA

September 5, 2023 603 Views 0 comment Print

ITAT Bangalore held that in case of non-resident, income arising in India by way of royalties or technical charges could be taxed in India but that could be only on the receipt basis under India-Switzerland DTAA and not on accrual basis.

Fees for live and non-live transmission right not taxable as royalty

September 3, 2023 564 Views 0 comment Print

ITAT Delhi held that as there is no copyright on live events, the license fees for live and non-live transmission right cannot be taxed as royaty in terms of section 9(1)(vi) of the Income Tax Act. Accordingly, addition deleted.

Addition solely based on estimation without rejecting books is not sustainable

September 1, 2023 1575 Views 0 comment Print

Analysis of ITAT Delhi’s decision on the case between Home Developers Project Pvt. Ltd. & DCIT. Focus on AO’s failure & burden of evidence on the assessee.

Depreciation under IT Act Section 32 not allowable if No Business Activity

August 31, 2023 735 Views 0 comment Print

Review of the ITAT Delhi’s decision on Arrow Manpower Services case. Discussion on the disallowance of depreciation claim and implications of the verdict.

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