Income Tax : Karnataka High Court allows PCIT's appeal, upholding a Section 263 revision for non-disallowance of commission payments without TD...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Learn about disallowances under Income Tax Act sections and their reporting requirements in Form 3CD during tax audits. Key provis...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Section 40(a)(ia) is amended via Finance (No. 2) Act, 2014 to restrict the amount of disallowance for non-deduction of tax to 30% ...
Income Tax : The existing provisions of section 40(a)(ia) of Income-tax Act provide for the disallowance of expenditure like interest, commissi...
Income Tax : ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional in...
Income Tax : The Tribunal held that commission paid to foreign agents for services rendered outside India is not taxable in India. Consequently...
Income Tax : The issue was whether commission payments were genuine business expenses. The Tribunal held that disallowance based on non-respons...
Income Tax : The Tribunal held that interest expenses cannot be disallowed when the trust merely facilitates transactions and costs are reimbur...
Income Tax : Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical ...
Income Tax : Circular No. 3/2015 Section 40(a)(i) of the Act stipulates that in computing the income chargeable under the head "Profits or gain...
Income Tax : Sub: Deduction of tax at source under Section 195 read with Sections 201 of the Income-tax Act, 1961 relating to payment made to a...
Income Tax : Circular No. 10/DV/2013-Income Tax It has been brought to the notice of the Board that there are conflicting interpretations by j...
Delhi High Court rules purchases from foreign AEs without a PE are not taxable in India, preventing Section 40(a)(i) disallowance and upholding DTAA non-discrimination clauses.
Chennai ITAT rules that S. 194C(6) (obtaining PAN) and S. 194C(7) (filing statement) are independent. A procedural lapse in filing Form 26Q cannot justify a disallowance u/s 40(a)(ia).
The ITAT Kolkata has set aside an ex parte order against Anup Nayak in a TDS non-deduction case, remanding it to the CIT(A) for re-adjudication.
ITAT Kolkata held that huge delay of 388 days on the reason that delay occurred due to death of its Chartered Accountant is not cogent and not acceptable. Thus, condonation denied since sufficient reason to condone delay not explained.
The ITAT Cochin has ruled against Muthoot Fincorp, confirming the disallowance of expenses due to non-deduction of TDS on a composite contract.
ITAT Delhi rules on TDS default. If the payee pays tax, the deductor isn’t in default, preventing disallowance under Section 40(a)(ia) but not interest.
ITAT Delhi sends Anil Kumar Chauhan’s Rs. 7.17 Cr. tax addition case back to the AO. The tribunal cited a violation of natural justice, allowing new evidence.
Uttarakhand High Court held that Section 40(a)(ia) of the Income Tax Act, 1961 cannot be made applicable to short deduction of tax at source and the disallowance made was rightly directed to be deleted. Accordingly, writ of revenue dismissed.
AO taxed the said surrendered amount under the provisions of section 115BBE of the Income Tax Act. CIT(A) allowed the appeal of the assessee. Being aggrieved, revenue has preferred the present appeal.
ITAT Mumbai held that adjustments made by Central Processing Centre [CPC] under section 143(1) of the Income Tax Act is deleted since the entire adjustments were on account of technical glitches of the CPC system.
