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Income Tax : ITAT Delhi held that fees for providing Spa Consultancy falls under the category of ‘Independent Personal Service’ and hence w...
Income Tax : ITAT Ahmedabad held that revisionary order passed under section 263 of the Income Tax Act in the name of non-existent entity (amal...
Goods and Services Tax : The right to correct mistakes in the nature of clerical or arithmetical error is a right that flows from the right to do business ...
Income Tax : ITAT Hyderabad held that interest on loan taken to acquire shares of any company for taking controlling interest is eligible as de...
Income Tax : ITAT Mumbai held that alternative claim of assessee (lessee) to allow depreciation on Finance Lease Rental Payment is allowable si...
Orissa High Court ruled mining without environmental clearance doesn’t automatically disallow expenses under Section 37(1) of the Income Tax Act.
During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Patel Joint Venture (JV) in Financial Year (FY) 2016-17 on Mobilisation advance and Machinery advance.
A similar claim for deduction as was raised by assessee-firm in the preceding year had been allowed by the department, but also the fact that the GP/NP rates of assessee firm were progressive as in comparison to the preceding year.
Assessee claimed deduction of IMC Transfer Expenses, City Environment Expenses, Contribution and Aid Expenses, Land Acquisition and Diversion Expenses which the AO disallowed the same.
Interest paid on late payment of TDS was not an expenditure wholly and exclusively incurred for the purpose of business and further it was a payment, which was in the form of tax, so it was not an allowable expenditure.
ITAT Mumbai held that as per section 36(1)(va) delayed payment of PF & ESIC has to be treated as income of the assessee. Hence, alternate claim of deduction of the same u/s. 37(1) of the Act is not acceptable.
An employee should be employed for 300 days or more during the previous year should be applied cumulatively across the year of hiring and the following year, rather than restricting it to the first year.
Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee relationships, and GST applicability.
ITAT Ahmedabad held that once the unaccounted receipts from the sale of properties are subjected to taxation as part of the capital gains computation, the related unaccounted expenditures stand explained and cannot be taxed separately as unexplained expenses.
The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A of the Act was carried out on the business premises of the assessee on 26.11.2014.
