Income Tax : All about interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act, including when it is charged, rates, and calcu...
Income Tax : Due to any reason, in case the income tax department makes an excess refund to the taxpayer. Such taxpayer will have to return the...
Income Tax : Section 234D in Income Tax Act, 1961 was introduced in the act to cover those situations where the refund was issued to the assess...
Income Tax : ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act not justified since loan ...
Income Tax : Hire charges of a vessel did not constitute ‘Royalty’ as it was in the nature of business income and as there was no Permanent...
Income Tax : In a recent ruling ITAT Delhi relied upon the binding precedent of the Hon’ble Supreme Court of India in the case of CIT vs. Sub...
Corporate Law : Delhi High Court held that assessee is entitled to confine the settlement of disputes which were subject matter of its appeal file...
Income Tax : ITAT Ahmedabad remands case to DRP, allowing appeal on the grounds of curable defects in Form 35A submitted by Rajendra Ramjibhai...
ITAT Ahmedabad held that interest income and miscellaneous income earned by the assessee are directly related to the business of the assessee and assessable as business income only and not as income from other sources.
All about interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act, including when it is charged, rates, and calculation periods.
ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act unwarranted as the amount represents sales already declared and taxed. Thus, income already offered for taxation cannot be taxed again as unexplained cash credit.
ITAT Kolkata held that foreign allowance received by a non-resident outside India for services rendered outside India does not fall within the scope of total income under section 5(2) of the Income Tax Act.
ITAT held that agreement to sell coupled with possession constituted a valid transfer for the purposes of claiming deduction under Section 54.
Delhi High Court held that the receipts from Indian customers for services provided outside Indian Territory, in connection with use or right to use of process or equipment by the assessee company, cannot be taxed as royalty as per section 9(l)(vi) of the Income Tax Act.
Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting in quashed penalty. Full text analysis.
ITAT Mumbai rules in favor of Anurag Chandra, validating the method of declaring foreign profit after currency conversion. Addition deleted in appeal. Learn more.
In the case of Salesforce.com Singapore Pte Ltd. vs ACIT, ITAT Delhi ruled that receipts from CRM services aren’t taxable in India as royalty or FTS under the Income-tax Act or India-Singapore DTAA.
Ahmedabad ITAT’s order in Atul Limited vs DCIT case discusses TP adjustments, volume discount, geography adjustments, and more. Detailed analysis provided.
