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...
The issue under consideration in this write up is whether disallowance u/s 40(a)(ia), 40A & 43B of Income Tax Act, 1961 are attracted in case of an eligible assessee declaring income under presumptive taxation scheme contained in section 44AD, 44ADA & 44AE. Section 44AD, 44ADA & 44AE starts with a non-obstante clause reading as ”Notwithstanding […]
ThoughtWorks Technologies (India) Private Limited Vs DCIT (ITAT Bangalore) As per clause 4 of the agreement between the assessee and the First Leasing (lessor) the asset shall remain the exclusive property of the lessor (First Leasing) at all times. It further provides that the lessee at no time during the lease period can capitalize the […]
Tribunal held the addition to be erroneous and has considered in detail the nature and expenses in respect of which the assessee was sought to be penalized for not deducting the tax deducted at sources, holding that these expenses were in respect of the income accrued outside the territory for services rendered. With this finding the said question was rejected.
Draipl-Mskel (JV) Vs ITO (ITAT Ahmedabad) In the present case, the expense claimed by the assessee for interest was disallowed by the AO on account of non-deduction of TDS. The disallowance made by the AO was also subsequently confirmed by the learned CIT (A). Now, the issue which require consideration and the adjudication is whether […]
Volvo India Pvt. Ltd. Vs ITO (TDS) (Karnataka High Court) The facts of the said case would indicate that the provisions made at the end of the accounting year were reversed in the beginning of the next year and no payees were identified including the exact amount of liability. In such circumstances, the Tribunal following […]
The assessee has not proved that the provisions of section 40(a)(ia) of the I.T.Act does not have any application on the said payment of Rs.21,27,846. Hence, the A.O. was correctly disallowed the expenditure by invoking the provisions of section 40(a)(ia) of the I.T.Act, which was confirmed by the CIT(A).
In the services rendered by the non-resident of procuring export order for the assessee, no knowledge has been provided to the assessee which could be exploited further by the assessee. In such circumstances, the services rendered by the non-resident cannot be held as ‘FTS’ under the India-France DTAA.
The appellant has alleged disallowance of lease rental payment treating the same as capital expenditure. Further, the appellant has also alleged that CIT(A) has erred in upholding the payment of supplementary rent to Lessors in Ireland under Lease Agreements executed after 01st April 2007 attracts liability for TDS.
Section 40(a)(i) did not contemplate order wise commission based on the order value. Consequently, the expenditure on export commission payable to non-residents for services rendered outside India became an allowable expenditure.
Laxmi D. Gupta Vs ITO (ITAT Mumbai) ITAT: Telecom Distributor is exempt from TDS on Commission given directly to Retailers by Service Provider In the case, the Appellant is engaged in distribution of SIM cards and mobile recharge coupons of Uninor. During proceedings, upon perusal of financial statements, the AO disallowed the expenses claimed by […]
