Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...
Income Tax : Learn about Section 44AD, a simplified method to compute business income, excluding some entities. Thresholds and tax implications...
Income Tax : Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA...
Income Tax : Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertaki...
Income Tax : FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainabl...
Income Tax : Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion ...
Income Tax : The ITAT Delhi ruled that reimbursement of software costs to foreign AEs on a cost-to-cost basis could not be treated as a profit-...
Income Tax : The ITAT Kolkata held that delayed filing of Form No. 67 cannot deprive an assessee of Foreign Tax Credit under Section 90 and the...
Income Tax : The issue was denial of deduction due to delayed filing of Form 56F. ITAT held that delay is a procedural lapse and directed allow...
Income Tax : The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...
Income Tax : ITAT Bangalore upholds restricting TP adjustment only to AE transactions, dismissing Revenues appeal. Confirms capacity, working c...
Income Tax : As per section 10A(4) of Income Tax Act, 1961, profits derived from export of articles or things or computer software shall be amo...
Income Tax : Circular No. 14/2014-Income Tax CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere transfer or re-dep...
Income Tax : Circular No. 12/2014-Income Tax Section 10AA of the Income-tax Act, 1961, inter-alia, provides for deduction in respect of the pr...
Income Tax : A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disp...
Income Tax : A clarificatory Circular No. 01/2013, dated 17-1-2013 (hereinafter referred to as 'Circular') was issued by CBDT to address variou...
On appeal CIT (A) held that disallowance u/s 10AA can be made only when the total income is enhanced by the AO or TPO. Co-ordinate bench has already decided this issue for AY 2014-15 and disallowance u/s 10AA was deleted.
This appeal arises from an order dated 09.01.2024 by the National Company Law Tribunal (NCLT), Mumbai Bench-I. The Appellant, Mr. Puneet P. Bhatia, a suspended director of Barracks Retail India Pvt. Ltd.
This is an Appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 against the dismissal of the Company Petition by which the Adjudicating Authority has dismissed the Section 7 Petition.
NCLT Delhi held that admissible of application under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) not justified since invoices covered under section 10A has to be excluded and accordingly amount claimed will be less than threshold limit of Rs. 1 Crore.
Calcutta High Court held that notification dated 27 June 2022 issued by the Government of West Bengal is excessive, manifestly arbitrary and contravenes the provisions of the Constitution and the Rule of Law and also contrary to the Industrial Disputes Act 1947.
NCLAT Delhi held that date of declaration of the loan account/ debt as NPA can be reckoned as the date of default to enable the Financial Creditor to initiate action under Section 7 of the Insolvency and Bankruptcy Code.
NCLAT Delhi held that provisions of section 10A of the Insolvency and Bankruptcy Code, 2016 would not apply as the date of default occurred much prior to 25.03.2020. Accordingly, held that application filed under section 7 duly accepted.
Assessee was engaged in business activities requiring the use of Information Technology ( IT ) equipment, claimed depreciation at the rate of 60% on certain computer peripherals like printers, routers, and similar devices while computing its income.
NCLAT Delhi held that insolvency resolution process against co-borrower justified as obligation of the Co-Borrower is coextensive and coterminous with that of the Primary Borrower.
Madras High Court held that benefit of section 10B of the Income Tax Act available even before setting off of unabsorbed depreciation and brought-forward losses. Accordingly, matter decided in favour of assessee.
