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Section 234A

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Last date to file Income Tax Return is 31st December 2023

Income Tax : Discover importance of filing a late income tax return, consequences of missing deadline, and a step-by-step guide for online fili...

December 29, 2023 2490 Views 1 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 481113 Views 4 comments Print

Interest Under Section 234A, 234B & 234C of Income Tax Act, 1961

Income Tax : Understanding Section 234A, 234B & 234C of the Income Tax Act, 1961. Learn about advance tax payments and the importance of timely...

August 23, 2022 4308 Views 1 comment Print

Prosecutions and Punishment under Income Tax Act, 1961

Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...

June 11, 2022 46743 Views 7 comments Print

Income Tax Offences liable to prosecution

Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...

June 8, 2022 56987 Views 4 comments Print

Latest News

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

Representation for relaxation from levy of Section 234A interest

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...

September 8, 2020 15753 Views 0 comment Print

All you need to know about TDS Rules before filling your IT returns!

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...

July 30, 2020 1473 Views 0 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 2766 Views 0 comment Print

Latest Judiciary

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 69 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

CCI cannot demand interest without following prescribed procedure: Delhi HC

Corporate Law : Delhi High Court sets aside CCI's order, ruling that penal interest can't be imposed without following proper procedure. Detailed ...

May 9, 2024 333 Views 0 comment Print

Non-payment of tax before first appeal filing not fatal if appellant fulfills tax obligation later

Income Tax : in terms of section 249(4)(a) of the Act, stipulation as to payment of tax ante filing of first appeal is only directory and not m...

May 5, 2024 438 Views 0 comment Print

STCL Taxable at 15% Can be set-ff against STCG Taxable at 30%: ITAT Mumbai

Income Tax : Explore the detailed analysis of JS Capital LLC Vs ACIT (ITAT Mumbai) regarding the offsetting of Short Term Capital Loss (STCL) a...

May 5, 2024 651 Views 0 comment Print

Latest Notifications

Income Tax Return, Tax Audit due date & Other dates extended

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...

May 20, 2021 162060 Views 24 comments Print

No Section 234A Interest on SA tax paid before due date of filing ROI

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...

February 10, 2015 20420 Views 0 comment Print

Initiation of penalty proceedings u/s. 271AAB(1A) without specifying default of assessee unsustainable

December 21, 2023 1572 Views 0 comment Print

ITAT Jaipur held that initiation of penalty proceedings u/s. 271AAB(1A) of the Income Tax Act without specifying the ground and default on the part of the assessee and also without specifying the undisclosed income on which penalty was proposed to be levied is unsustainable-in-law.

ITAT Directs Reconsideration of Section 234A, 234B & 234C Interest by CIT(A)

November 30, 2023 2199 Views 0 comment Print

ITAT directs CIT(A) to reconsider issue of Section 234A, 234B and 234C interest after considering the outcome of petition filed by the appellant u/s. 119(20)(b)/119(2)(c) of Income Tax Act before the Chairman, CBDT

Commission paid to foreign agent not regarded as fees for technical services u/s. 9(1)(vii)

November 25, 2023 1143 Views 0 comment Print

ITAT Delhi held that foreign commission paid by the assessee to its foreign agent for arranging of export sales and recovery of payment could not regarded as fees for technical services under section 9(1)(vii) of the Act. Accordingly, disallowance of expenditure u/s. 40(a)(i) unjustified.

ITAT Upholds Addition on LTCG Under Section 50C for Unregistered Deeds

November 4, 2023 960 Views 0 comment Print

ITAT Mumbai decision in Hari Mittar Yadav vs. ITO: Confirmation of addition on LTCG under Section 50C based on unregistered deeds entered on judicial stamp papers.

Section : ITAT deletes reasonable Excess Jewelry Addition for Wealthy Assessee

November 3, 2023 1116 Views 0 comment Print

ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions

Booking fee collected from non-resident airlines not taxable as royalty

November 1, 2023 492 Views 0 comment Print

ITAT Delhi held that the booking fee received by the assessee from non-resident airlines is taxable as ‘business income’ and not as ‘royalty’ u/s. 9(1)(vi) of the Income Tax Act and Article 13(3) of Indo-Spain DTAA.

Amount for use of transponder of telecommunication service charges doesn’t qualify as royalty

October 19, 2023 465 Views 0 comment Print

Held that the amounts received for the use of transponder of tele-communication service charges are not royalty under section 9(1)(vi) of the Income Tax Act and also under Article 12(8) of Indo Netherland DTAA.

Section 54F Deduction Granted: New House Purchase within Two Years of Asset Transfer

October 19, 2023 543 Views 0 comment Print

In a crucial ruling, ITAT Chennai allows Section 54F deduction for a new residential property purchase, clarifying tax implications. Learn more in this detailed analysis.

Determination of ALP without applying methods prescribed u/s 92C is untenable

October 6, 2023 423 Views 0 comment Print

ITAT Mumbai held that the determination of Arm’s Length Price (ALP) without applying any methods as prescribed under section 92C(1) of the Income Tax Act by the TPO is not tenable in law.

Indian subsidiary operating in independent manner doesn’t constitute PE

October 4, 2023 912 Views 0 comment Print

ITAT Mumbai held that the Indian Subsidiary operating in an independent manner doesn’t constitute as a “Permanent Establishment” in India and hence income of the assessee is not allowable to be taxed in India.

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