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 : The Delhi High Court held that the issues raised by the Revenue were either covered by binding precedents or based on factual find...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT Chandigarh held that no TDS was deductible where professional fees paid to each payee were below the statutory threshold....
Income Tax : Bangalore ITAT held that mine development expenditure incurred by a mining contractor was allowable as a revenue deduction under S...
Income Tax : The ITAT Delhi held that an adjustment against excess contributions already made to an approved gratuity fund could not be disallo...
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...
In the case of the assessee, it is an admitted fact that minors and unregistered firms cannot become members of the society. Thus, assessee had paid interest to minor and unregistered firms who were not members of the assessee. This is violation of section 194A of the Act.
ITAT Delhi held that that expenditure incurred between setting up and commencement of business could not have been capitalized and was to be allowed as business expenditure.
ITAT Pune confirms disallowance under Section 40(a)(ia) for failure to deduct TDS on warehouse charges, emphasizing tax compliance in Vandana Dinehkumar Inani Vs ITO case.
Sole issue for determination is ‘whether amendment made by Finance Act, 2014 to Section 40(a)(ia) is to be applied retrospectively or not’.
Sale of prepaid sim cards / recharge vouchers by the assessee to distributors cannot be treated as commission / discount to attract the provisions of section 194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act.
ITAT Ahmedabad held that all necessary details and evidences to establish genuineness of the unsecured loans duly furnished by the assessee, accordingly, addition towards the same unsustainable.
ITAT Delhi held that social security contribution doesnt constitute income from salary in the hands of expatriate employees. Hence disallowance u/s 40(ia) for non-deduction of TDS on the same is unsustainable in law.
ITAT Mumbai held that security charges involve supply of manpower only and the same does not involve carrying on of any work. Accordingly, provisions of section 194C are not attracted for expenses claimed as security charges. Hence, disallowance u/s 40(a)(ia) unjustified.
ITAT held that no tax is required to be deducted at source on amount reimbursed to the director of the company. Further, when tax has been deducted at source by the assessee while receiving software consultancy services, disallowance cannot be done by the Revenue Department.
Oxford University Press Vs DCIT (ITAT Mumbai) a) The assessee had made payment of School support services to various schools / societies for the services rendered by them to the assessee by way of referring the students to the booksellers to purchase the textbooks published by the assessee. b) But for the reference made by […]
