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...
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.
ITAT Mumbai rules that comparables cannot be excluded if their financial data can be reasonably extrapolated, in Syngenta Services Private Limited’s case.
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 Mumbai held that revision under section 263 of the Income Tax Act unjustified as AO while allowing the exemption in the order passed under section 144 r.w.s.263 has taken a possible view upon verifying the details available on record.
ITAT Hyderabad held that assessee being a film artist, physical fitness is a part and parcel of his profession, but it cannot be held to be incurred wholly and exclusively for the profession of the assessee. Hence, disallowance of physical fitness expenditure justifiable in law.
Read ITAT Delhi’s order on Rajiv Ghai vs. ACIT case. Deduction under section 54F allowed for house registered in parents’ name. Detailed analysis and conclusion.
Read ITAT Mumbai order setting property allotment date as acquisition date for capital gain computation. Details of D.K. Brothers vs. ITO case and implications.
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
In a recent case, ITAT Kolkata ruled that TDS on rent reimbursement is not deductible if there is no lessor and lessee relationship, siding with McNally Bharat Infrastructure.
ITAT Delhi held that once long term capital gain along with cost of acquisition and indexation accepted in the hands of one of the co-owner of the property, the same needs to be allowed/ accepted for other co-owner of the property too.
