ITAT Judgments articles

Section 10A benefit allowed on Enhanced Income pursuant to MAP Resolution

Dell International Services India Private Limited v. DCIT (ITAT Bangalore)

Dell International Services India Private Limited v. DCIT (ITAT Bangalore) Benefit of Section 10A of the Act is Allowed on Enhanced Income Pursuant to Mutual Agreement Procedure (MAP) Resolution Outcome: In favor of Assessee Facts: 1. During the relevant year, the assessee has provided ITeS and Software Development Services (SWD) of INR 6...

Read More

Whether Revised Return can be filed after intimation is issued u/s 143(1)?

[ACIT v. Padma Logistics &Khanij (P.) Ltd. - In present case, Kolkata Tribunal ordered that the intimation issued u/s 143(1) of the Act does not preclude the assessee from filing a revised return of income....

Read More
Posted Under: Income Tax |

No Deemed Dividend on Business transactions via current A/c

Exotica Housing & Infrastructure Company Pvt. Ltd. Vs ITO (ITAT Delhi)

Transactions carried out through current account for business purposes would not fall within the definition of Deemed Dividend.  Therefore provisions of Section 2(22)(e) of the I.T. Act, 1961, would not apply....

Read More

Direct and Indirect Tax updates May 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT notifies new form for 26AS which shall also include information relating to assessee’s specified financial transaction (Information of property and share transactions etc.), payment of taxes, demand/ refund and pending / completed proceedings (Noti...

Read More
Posted Under: Income Tax |

Nicholas Cage – Gone in 60 seconds!!-

The Author, in this article, discusses a bold decision of ITAT regarding changing nature of judiciary to keep up time with the changing face of manner of doing business and interpretation of law accordingly. It has resulted in Nicholas Cage [an international celebrity] having an income tax liability in India under the Income Tax Act, 1961...

Read More
Posted Under: Income Tax |

Direct & Indirect Taxes Updates- April 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Government issues clarification regarding short deduction of TDS / TCS due to increase in rates of Surcharge by Finance Act 2019. (Circular no. 8/2020 dated 13th April 2020)Recent circulars/ notifications/ rules/ clarifications/News ♦ Government issues ...

Read More
Posted Under: Income Tax |

Direct & Indirect Taxes Updates- March 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be...

Read More
Posted Under: Income Tax |

Income Tax Updates for the Month of February 2020

NEWS  DIRECT TAX 1. CBDT notify the rules for making permanent account number inoperative. [Ref: Notification No.11/2020/F.No. 370149/166/2019-TPL] 2. ​Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPIs) with SEBl under Department of Economic Affairs and KYC for...

Read More
Posted Under: Income Tax |

Mere disallowance due to difference of opinion cannot lead to penalty

DCIT Vs  Duron Technologies (India) Pvt. Ltd. (ITAT Mumbai)

Where assessee was under a bona fide belief about allowability of certain provisions and there was no suppression of facts or deliberate concealment on assessee’s part, mere disallowance by AO due to difference of opinion could not lead to levy of penalty under section 271(1)(c)....

Read More

Income Tax Updates for the Month of January 2020

NEWS DIRECT TAX 1. CBDT prescribes ‘Other Electronics Modes’ for the purpose of electronic payments & receipts. [Ref: NOTIFICATION NO. 8/2020 [G.S.R. 56(E)/ F.NO.370142/14/2019-TPL], DATED 29-1-2020] 2. CBDT notifies ‘Institute of Pesticide Formulation Technology’ for the purpose of sec. 35 deduction. [Ref: NOTIFICATION NO. S...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,795)
Company Law (6,137)
Custom Duty (7,792)
DGFT (4,244)
Excise Duty (4,368)
Fema / RBI (4,238)
Finance (4,443)
Income Tax (33,432)
SEBI (3,515)
Service Tax (3,563)

Search Posts by Date

July 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031