The Bangalore bench of the Income Tax Appellate Tribunal allowed the appeal filed by the assessee against the order of the National Faceless Appeal Centre (NFAC), disallowing the deduction under Section 80P(2)(d) of the Income

On Friday, May 17, the Supreme Court upheld a rule issued by the Institute of Chartered Accountants of India (ICAI) that limits Chartered Accountants to a maximum of 60 tax audit assignments per financial year.

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that interest is not leviable from the assessee for short payment of tax due to payer's default in  Tax Deduct at Source

The Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) granted the assessee's appeal, acknowledging that the delay in filing the TDS return was due to a technical issue rather than negligence. The assessee, a

The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to allow exemption under Section 11 of the Income Tax Act, 1961 acknowledging that profit derived from services rendered

The Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of 5 crore, citing the absence of corroborative evidence to prove that the taxpayer had indeed made any payment of Rs. 5 crores.

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed the reopening of assessment, ruling that the notice issued under Section 148 of the Income Tax Act, 1961 was held to

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that a non-resident's salary or allowance for services rendered abroad is not taxable in India. During Assessment year 2020-21, the Assessee,Yogesh Kotiyal

The Bombay High Court has held that merely brandishing newspaper cuttings does not amount to proof of sharing commercial expertise. The court found that the Assessing Officer ( AO ) was required to inquire, and

The Two member bench of Delhi Income Tax Appellate Tribunal (ITAT) upheld the  deletion of addition made on account of expenditure incurred on e-stamp duty expenses paid towards Non-Convertible Debenture issued by the Dish Infra

In a ruling in favour of the State Bank of India ( SBI ), the Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that no deduction of deduct tax at source

The Calcutta High Court held that Assessing Officers ( AO ) cannot draw adverse inferences on the non-response of directors to notices. The court, while examining the validity of the addition made under Section 68

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that loss out born from sale of govt securities by bank is business loss and allowed the income tax deduction is allowable under Section

The Income Tax Department has notified the reminder for the filing of Statements of Financial Transactions ( SFT ) by the Reporting Entities ( RE ) for the Financial Year ( FY ) 2023-24. The

The Two member bench of Bangalore  Income Tax Appellate Tribunal ( ITAT ) while deleting the retrospectively canceled trust registration observed that  in income-tax matters, law to be applied is the law in force in