Income Tax : Breaks down Section 234F penalties, 1% monthly interest, and the hidden loss of tax benefits that arise when returns are filed aft...
Income Tax : Understand Sections 234A, 234B, 234C, and 234D of the Income Tax Act covering interest on late filing, short payment, delayed adva...
Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : Understand how interest under the Income Tax Act is calculated, including Sections 234A–234D, 244A, and Rule 119A mechanics for ...
Income Tax : Missing the ITR due date u/s 139(1) mandates the use of the new tax regime, as the option to choose the old regime or file Form ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : Representation for relaxation from levy of interest u/s. 234A on payment of self-assessment tax for A.Y. 2020-21 within extended d...
Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...
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...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : Relying on its earlier ruling in the assessee’s own case, the Tribunal held that gross profit should be estimated at 0.40% rathe...
Income Tax : Tribunal reiterated that credits brought forward from earlier financial years cannot ordinarily be taxed under Section 68 in subse...
Income Tax : ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an earlier rectification o...
Income Tax : The Tribunal ruled that participation by a legal heir does not validate notices and assessment orders issued in the name of a dece...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CIRCULAR NO. 2/2015 The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-asses...
ITAT Delhi held that as conditions prescribed in exception to section 9(1)(vii)(b) stand fulfilled, it cannot be taxed as FTS. Further, the source for making or earning any income of the payer of fee for technical services, in the present case, is outside India, and therefore not taxable in India.
Explore the ITAT Hyderabad’s decision on the extension of due date under CBDT Circular and its impact on interest calculation under Section 234A of the Income Tax Act.
ITAT Delhi resolves Boeing India’s transfer pricing dispute, clearing an INR 21,52,899 adjustment tied to operational inactivity and a merger with BCIL.
ITAT Delhi held that subscription, professional and training services rendered by the assessee do not fall within the definition of FTS under India-Netherland DTAA and, therefore, cannot be taxed in India.
ITAT Delhi held that “full value of consideration” or “cost of investment” cannot be substituted by the fair market value (FMV), except in the case falling within the purview of 50C and Sec. 56(l)(vi)/(vii) of the Income Tax Act.
ITAT Bangalore held that in case where AO of the searched person and the other person is the same, there can be one satisfaction note prepared by AO. Preparation of one satisfaction note will satisfy the requirement of section 153C of the Income Tax Act.
Deepak Novochem Technologies Ltd. Vs ACIT (ITAT Mumbai) Introduction: The appeals by Deepak Novochem Technologies Ltd. against the order of the Ld. Commissioner of Income-tax (Appeals)-50, Mumbai, for assessment years 2014-15 to 2018-19, present a complex set of issues. The primary focus revolves around the disallowance of deductions under section 35(2AB) of the Income-tax Act, […]
Explore the ITAT Bangalore ruling in Sri Kanyakaparameshwari Vividoddesha Sahakara Sangha Niyamita vs. ITO case. AO’s 15% flat rate on ad-hoc basis for cost of funds deleted. Details here.
BCP V Singapore FVCI Pte. Ltd. wins against reassessment by ITAT Delhi. Detailed analysis of Rs.203.56 Cr. redemption income dispute. No escapement found.
Delhi ITAT rules on time limitation for Assessment Order under Sec 144C(4). Analysis of objections filing, jurisdiction, and compliance with Income Tax Act. Full order details provided.
