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...
ITAT Delhi held that cost to cost reimbursement on account of secondment of employees cannot be treated as Fees for Technical Services (FTS) as defined under Article 12 of India USA-Double Tax Avoidance Agreement (DTAA).
ITAT Delhi held that provisions of section 194H of the Income Tax Act are not applicable on sells of pre-paid SIM at discounted price to the distributors. Further, as no TDS deductible, disallowance u/s 40(a)(ia) cannot be sustained.
Analysis of ITAT Ahmedabad’s decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS non-deduction supported by Form 15G/H.
Explore Form 26A for TDS relief. Learn about legal provisions, benefits, and procedures for non-deduction or short deduction cases. Comprehensive guide provided.
ITAT Mumbai held that under regular provisions of section 36(1)(vii) of the Act, the provision for doubtful debt being in the nature of diminution in value of asset, it also attracts explanation (i) of the section 115JB of the Act. Accordingly, addition of book profit sustained.
ITAT Delhi held that adjustment relating to deferred shares considering their value to be equivalent to the value of equity shares upheld as deferred shares can be converted into ordinary shares without any encumbrances.
Analysis of Delhi HC ruling in PCIT Vs Maharani Enterprises: No TDS deductible on commission payment to non-resident agent overseas. Read the judgment.
ITAT Kolkata held that claim of deduction towards marketing and sales expenses relating to work-in-progress project is allowable in the year in which project is completed and sales are booked in the profit and loss account.
ITAT Mumbai held that TPO rightly treated interest receivables as a loan outstanding given by assessee to its Associated Enterprises (AE) and charging interest on the same.
In Lease Plan India P Ltd vs. ITO, the ITAT Delhi deletes disallowance of guarantee commission deduction claimed on payment to Associate Enterprise. Understand the impact of this case on associated tax implications.
