Not Linked PAN-Aadhar Yet? You may incur Higher TDS/TCS u/s 206AA and 206CC of Income Tax Act due to an inoperative PAN
PAN Aadhar linking reminder by Income Tax Department The Income Tax Department reminded everyone to link their Permanent Account Number (PAN) with...
![Foreign Exchange Fluctuations have direct Nexus over Export Sales, would be Eligible for Deduction u/s 10A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-delhi-Foreign-Exchange-Income-Tax-taxscan.jpg "Foreign Exchange Fluctuations have direct Nexus over Export Sales, would be Eligible for Deduction u/s 10A of Income Tax Act: ITAT [Read Order]")
![ITAT directs Remands Matter to AO to Analyse Payment of Guarantee Commission is an Admissible Deduction u/s 37(1) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-income-tax-act-ITAT-bangalore-ITAT-remands-Remands-matters-TAXSCAN.jpg "ITAT directs Remands Matter to AO to Analyse Payment of Guarantee Commission is an Admissible Deduction u/s 37(1) of Income Tax Act [Read Order]")
![Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/58bfc8d2-c4b6-44f0-b028-075b10fc79f3.jpg "Profit of Business Undertaking in Proportion of Export Turnover to Total Turnover would be Eligible for Deduction u/s 10 A of Income Tax Act: ITAT [Read Order]")
![CBDT Revises Jurisdiction of Income Tax Authorities u/s 120 of Income Tax Act, Effective from June 6, 2024 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/06/CBDT-Jurisdiction-Income-Tax-Authorities-Income-Tax-Act-Effective-taxscan.jpg "CBDT Revises Jurisdiction of Income Tax Authorities u/s 120 of Income Tax Act, Effective from June 6, 2024 [Read Notification]")
Sec. 71(3A) of Income Tax Act limits Set-off Amount, does not eliminate Deduction benefits Entirely: Delhi HC upholds Constitutional Validity of Sub-Section [Read Order]
In a recent ruling, the Delhi High Court dismissed the writ petition challenging the constitutional validity of the amendment of Income tax act interesting the Sub-section 3A to the Section 71 of...
![Sec. 71(3A) of Income Tax Act limits Set-off Amount, does not eliminate Deduction benefits Entirely: Delhi HC upholds Constitutional Validity of Sub-Section [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-Tax-Act-Set-off-Amount-eliminate-Deduction-Entirely-Delhi-HC-Constitutional-Validity-Sub-Section-taxscan.jpg "Sec. 71(3A) of Income Tax Act limits Set-off Amount, does not eliminate Deduction benefits Entirely: Delhi HC upholds Constitutional Validity of Sub-Section [Read Order]")
Cash Deposits made From Parent's Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has deleted the Income tax addition of unexplained money. It was found that the cash deposit was made from the assessee's parent’s...
![Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Ahmedabad-Cash-Deposits-made-From-Agricultural-Activities-ITAT-Deletes-Income-Tax-Addition-taxscan.jpg "Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]")
Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14 A of the Income Tax Act, 1961 is not available in respect of investments not yielding tax-free...
![Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Income-tax-Tax-Free-Income-Tax-free-income-investments-TAXSCAN.jpg "Disallowance u/s 14A of Income Tax Act not available in respect of Investments not yielding Tax-Free Income: ITAT [Read Order]")
Action of Reassessment in relation to Search undertaken on or after 1st April 2021 should meet Tests under First Proviso to Section 149(1) of Income Tax Act: Delhi HC [Read Order]
In a significant ruling, the Delhi High Court observed that the action of reassessment in relation to search undertaken on or after 1st April 2021 should meet tests under First Proviso to Section...
![Action of Reassessment in relation to Search undertaken on or after 1st April 2021 should meet Tests under First Proviso to Section 149(1) of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Delhi-High-Court-Delhi-hc-Income-tax-act-First-proviso-Section-149-TAXSCAN.jpg "Action of Reassessment in relation to Search undertaken on or after 1st April 2021 should meet Tests under First Proviso to Section 149(1) of Income Tax Act: Delhi HC [Read Order]")
One-Time voluntary Payment by Flipkart, Singapore to Option Holders on Disinvestment of PhonePe business: Delhi HC quashes Order passed u/s 197 of Income Tax Act [Read Order]
The Delhi High Court quashed an order passed under Section 197 of the Income Tax Act, 1961 in the matter relating to the one-time voluntary payment by FPS (Flipkart Pvt. Ltd., Singapore) to option...
![One-Time voluntary Payment by Flipkart, Singapore to Option Holders on Disinvestment of PhonePe business: Delhi HC quashes Order passed u/s 197 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/one-time-voluntary-payment-by-FPS-Disinvestment-of-PhonePe-business-Delhi-HighCourt-Section-197-of-the-Income-Tax-Act-taxscan.jpg "One-Time voluntary Payment by Flipkart, Singapore to Option Holders on Disinvestment of PhonePe business: Delhi HC quashes Order passed u/s 197 of Income Tax Act [Read Order]")
Donations to other Charitable Institutions meets Test of Application of Income for Charitable Purposes: Delhi HC upholds Decision of ITAT [Read Order]
The Delhi High Court uphold the decision of the Income Tax Appellate Tribunal (ITAT), observed that the donations to other charitable institutions meets test of application of income for charitable...
![Donations to other Charitable Institutions meets Test of Application of Income for Charitable Purposes: Delhi HC upholds Decision of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Delhi-High-Court-Income-Tax-Income-Tax-Appellate-Tribunal-Charitable-Purposes-taxscan.jpg "Donations to other Charitable Institutions meets Test of Application of Income for Charitable Purposes: Delhi HC upholds Decision of ITAT [Read Order]")
