Income Tax : Detailed overview of corporate tax rates, surcharges, and MAT for AY 2021-22 to AY 2025-26, applicable for various domestic and ma...
Income Tax : Explore five recent High Court decisions on income tax issues, including DTAA, FTS classification, MAT inclusion, reassessment ord...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Explore the essentials of Section 43B(h) & Section 15 under MSMED Act for prompt payments & legal compliance in micro, small, and ...
Income Tax : Explore allowance of unutilized MAT credit transfer in company amalgamation. Understand legal provisions, judicial precedents, and...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for ...
Income Tax : Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provision...
Income Tax : On the basis of the recommendations of the Committee on MAT-Ind AS, the Central Government has notified 10 ICDS vide Notification ...
Income Tax : ITAT Mumbai held that head office expenditure incurred outside India exclusively for the Indian branches does not fall within the ...
Income Tax : ITAT Kolkata held that loan transaction between holding and subsidiary company done in the normal course of business and out of bu...
Income Tax : ITAT Mumbai held that the rate of tax on a short term capital gain on depreciable assets u/s. 50 has been held to be the rate of l...
Income Tax : ITAT Mumbai allows Mauritius fund to carry forward capital losses under Indian law while claiming DTAA exemption on pre-2017 share...
Income Tax : ITAT Delhi held that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable. Fur...
Income Tax : Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option ...
Income Tax : Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only...
Income Tax : Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB...
Income Tax : CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounti...
Income Tax : References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going into t...
ITAT Mumbai grants relief to Tata Steel Limited, allowing deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD) under section 36(1)(iii) of the Act.
Tribunal restored the matter of AO’s disallowance, which was deemed inconsistent with Section 115JB by directing assessee’s claim of deduction for computing book profit under Section 115JB required fresh verification in the light of the Chart furnished by assessee, which had been reproduced in the order.
Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective authorities failed to appreciate the amended provision of Section 36(1)(iia) of the Income Tax Act, 1961, resulting in the denial of an additional depreciation claim.
Since the appellant hadn’t filed the appeal through the Interim Resolution Professional as required under the resolution process, the ITAT deemed the appeal not maintainable and dismissed it.
ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional jurisdiction under section 263 of the Income Tax Act.
Discover the detailed analysis of the case National Stock Exchange of India vs. DCIT where ITAT Mumbai ruled that NSE’s contribution to Core SGF is not considered a contingency reserve.
ITAT Mumbai held that as there is complete uniformity in not charging interest from AEs and Non-AEs for delay in realization of export proceeds, addition of notional interest in respect of transactions with AEs in the course of transfer pricing proceedings unwarranted.
Discover Mumbai ITAT order on Capacite Infra Projects Ltd Vs DCIT, analyzing disallowance of non-genuine/Bogus purchases and its implications on tax assessment.
ITAT Mumbai held that compensation received by the assessee in out of court settlement for unilaterally terminating certain obligation under the agreement is an income assessed to business income and not an income assessed to capital gains as claimed by the assessee.
ITAT Mumbai held that rate of interest @18% paid to related party towards unsecured loan is reasonable as rate of interest charged by bank @12% is with security, whereas, rate of interest charged on unsecured loan is without any security.
