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 : Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your...
Income Tax : Explore crucial issues in income tax practices, including Section 44AD, TDS obligations, LTCG exemptions, cash deposits, and tax d...
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 Raipur held that penalty under section 271(1)(c) of the Income Tax Act justifiable since no plausible explanation provided fo...
Income Tax : Delhi High Court held that reopening of an assessment under section 147 of the Income Tax Act merely on the basis of communication...
Income Tax : ITAT Chennai held that provisions of section 69A of the Income Tax Act could not be invoked when cash is sourced out of recorded s...
Income Tax : Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and h...
Income Tax : ITAT Chennai held that when the cash is sourced out of recorded sales, the provisions of section 69A of the Income Tax Act could n...
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...
McCANN Erickson (India) Pvt.Ltd. Vs ACIT (ITAT Delhi) we find that the Ld.CIT(A) has relied upon the amendment in the statute. However, the Co-ordinate Bench of this Tribunal after having considered the amendment held in the case of Ashapura Minichem Ltd. vs ADIT 131 TTJ 291 that till 08.05.2010, “the prevailing legal position was that […]
UKN Properties Pvt. Ltd. Vs DCIT (ITAT Banglore) Since the transactions of purchase of software has been completed prior to rendering of decision by Hon’ble Karnataka High Court and since there were decisions which have held that TDS is not required to be made out of payment made for software purchases, following the above said […]
Understanding Section 194C amendments and important court judgments on section 40(a)(ia) of the Income Tax Act.
Since assessee was a recipient of income in India after deduction of commission by the buyer outside India and no income had been received or paid inside India, which attracted TDS deduction in India, therefore, assessee was not liable to deduct TDS in India.
ACIT Vs Singareni Colleries Company Ltd. (ITAT Hyderabad) On careful reading of the Notes submitted by the assessee company it is clear that the assessee is providing interest at certain percentage and credited to the fund account. Further, he observed that it is also a fact that the insurance premium is paid out of interest […]
ITO Vs Shraddha & Prasad Joint Venture (ITAT Pune) This appeal preferred by the Revenue emanates from the order of the Ld. CIT(Appeal), Pune-3 dated 29.08.2017 for the assessment year 2014-15 as per the following grounds of appeal on record : “1. On the facts and circumstances of the case, the order of the Ld. […]
Draft submission regarding applicability of section 194C , 195 and disallowance u/s 40(a)(ia) with regard to payment made to Non resident shipping companies Addition of Rs.4,61,811/- u/s 40(a)(ia) of the Income Tax Act for failure to deduct tax at source. This relates to AY 2007-08 The facts are that during the course of assessment proceedings, […]
DCIT Vs Pfizer Products (India) Pvt Ltd. (ITAT Mumbai) In terms of the agreement with M/s. Pfizer Ltd., assessee was sharing services of certain employees and other facilities which belonged to M/s. Pfizer Ltd. The reimbursement of such expenses due or paid to M/s. Pfizer Ltd. amounts to Rs.14,51,77,000/- and has been included under the […]
ACIT Vs Late D. Mahendran (ITAT Hyderabad) The AO disallowed hire charges for non-deduction of tax u/s 40(a)(ia) of the I.T.Act, with an observation that the appellant has not brought on record any supporting evidence that he had hired lorries and trucks in the manner the public hire an auto or a taxi on the […]
We first of all advert to the impugned Section 40(a)(ia) r.w.s.194C and 194J issue of surrogacy payments in case of Shri S.Sesha Sai since the other recipient has never appeared to support the impugned claims till date. The CIT(A)’s identical lower appellate discussion affirming the Assessing Officer’s action disallowing assessee’s summary of payments made to surrogate mothers reads as under:
