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 Ahmedabad held that no disallowance under Section 43B of the Act can be made when deduction is not claimed in the profit and ...
Income Tax : The present appeal has been preferred by the revenue. The controversy involved in the present appeals pertains to the treatment of...
Income Tax : The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling up...
Income Tax : ITAT Raipur held that disallowance under section 43B of the Income Tax Act towards unpaid VAT liability cannot be sustained since ...
Income Tax : ITAT Ahmedabad held that PCIT cannot exercise revisionary power u/s. 263 to restore an issue for the purpose of verification only ...
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 Ahmedabad held that addition merely on the basis of retracted statement without any incriminating material seized from assessee’s premises is unsustainable in law and liable to be quashed.
The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessment proceedings, AO had examined the expenses debited in regard to the sets under consideration.
ITAT Pune held that delay of 2086 days in filing of an appeal against CIT(A) not condonable as sufficient cause or sufficient reason not shown for inordinate delay.
Kerala High Court held that when employees’ contribution to EPF/ESI not made within due date prescribed for making payments is liable to be disallowed under section 36(1)(va) of the Income Tax Act.
ITAT Delhi held that written off of obsolete inventory allowable as prepared in accordance with accounting standards and duly got prepared audited report of an independent auditor.
Learn how ITAT Bangalore ruled in favor of Herbalife India on technical service payments, clarifying FTS under India-USA DTAA. Detailed analysis and full judgment inside.
ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent entities.
Assessing Officer has nowhere determined as to how Section 194C is applicable on payments made by assessee. Unless a charge is being determined, disallowance under section 40(a)(ia) cannot be made.
Issuance Of Letters Of Comfort/Support will Construe As International Transaction U/s 92B considering corporate guarantee issued by assessee could not be compared with the letters of comfort and therefore agreed with the computation of arm’s length rate of 0.04%.
Expenditure incurred by assessee should be disallowed to the extent that expenditure which had been incurred for evaluation of business opportunities that could not be said to be in line with the existing business or an extension of the existing business of assessee of manufacturing of paints and enamels.
