![No TDS Deduction on Transaction of Assigning Loans by NBFC: ITAT rules in Favour of SBI [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-rules-ITAT-rules-SBI-rules-Assigning-loans-by-NBFC-TAXSCAN.jpg "No TDS Deduction on Transaction of Assigning Loans by NBFC: ITAT rules in Favour of SBI [Read Order]")
No TDS Deduction on Transaction of Assigning Loans by NBFC: ITAT rules in Favour of SBI [Read Order]
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...
![AO cannot Draw Adverse Inference on Non response of Directors to Notices: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/AO-Draw-Adverse-Inference-Non-response-Directors-Notices-Calcutta-HC-taxscan.jpg "AO cannot Draw Adverse Inference on Non response of Directors to Notices: Calcutta HC [Read Order]")
![Loss out born from Sale of Govt Securities by Bank is Business Loss: ITAT allows Income Tax Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Loss-Sale-of-Govt-Securities-Bank-Business-Loss-ITAT-Income-Tax-Deduction-taxscan.jpg "Loss out born from Sale of Govt Securities by Bank is Business Loss: ITAT allows Income Tax Deduction [Read Order]")
![“Law to be applied is law in force in Assessment Year unless otherwise stated or implied in Income-Tax matters”: ITAT deletes retrospectively canceled Trust registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-income-tax-laws-Itat-deletes-registrations-Taxscan.jpeg "“Law to be applied is law in force in Assessment Year unless otherwise stated or implied in Income-Tax matters”: ITAT deletes retrospectively canceled Trust registration [Read Order]")
![ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Re-adjudication-Cash-Deposits-Biscuit-Confectionery-Business-Demonetization-taxscan.jpg "ITAT Orders Re adjudication of Cash Deposits in Biscuit and Confectionery Business During Demonetization [Read Order]")
Non Submission of PAN and confirmation of parties regarding advances received for Dish Installation: ITAT upholds Addition [Read Order]
The Two member bench of Delhi Income Tax Appellate Tribunal (ITAT) upheld the addition made on account of non submission of PAN and confirmation of parties regarding the advances received for Dish...
![Non Submission of PAN and confirmation of parties regarding advances received for Dish Installation: ITAT upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/48945e5b-3815-4f21-8f1d-29fd971d7ecf.jpg "Non Submission of PAN and confirmation of parties regarding advances received for Dish Installation: ITAT upholds Addition [Read Order]")
ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]
The Two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directs readjudication regarding the commission and brokerage sale credited to Profit and Loss Account of distributorship to...
![ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Bangalore-Income-tax-act-ITAT-directs-Readjudication-Tax-news-Taxscan.jpg "ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]")
Powers u/s 127 of Income Tax can be invoked for Public Interest, Administrative Convenience and Meaningful Assessment: Delhi HC [Read Order]
The Delhi High Court clarified that powers under Section 127 of the Income Tax Act, 1961, can be invoked for public interest, administrative convenience, and meaningful assessment. The present...
![Powers u/s 127 of Income Tax can be invoked for Public Interest, Administrative Convenience and Meaningful Assessment: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Powers-Income-Tax-invoked-Public-Interest-Administrative-Convenience-Meaningful-Assessment-Delhi-HC-taxscan.jpg "Powers u/s 127 of Income Tax can be invoked for Public Interest, Administrative Convenience and Meaningful Assessment: Delhi HC [Read Order]")
Shell Information Technology’s Income Tax Refund Interest Classified as Taxable Income under India-Netherlands DTAA: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, specifying that interest on income tax refund would be categorized as taxable...
![Shell Information Technology’s Income Tax Refund Interest Classified as Taxable Income under India-Netherlands DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Shell-Technology-Income-Tax-Refund-Interest-Taxable-Income-India-Netherlands-DTAA-ITAT-taxscan.jpg "Shell Information Technology’s Income Tax Refund Interest Classified as Taxable Income under India-Netherlands DTAA: ITAT [Read Order]")
Taxpayer Operating Money Transfer Business through M-Pesa and Other Mobile Wallets Evident From Bank Statement: ITAT Directs Re-Adjudication [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ordered a reconsideration, noting substantial evidence indicating that a taxpayer engaged in a money transfer business utilizing...
![Taxpayer Operating Money Transfer Business through M-Pesa and Other Mobile Wallets Evident From Bank Statement: ITAT Directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Taxpayer-Operating-Money-Transfer-Business-M-Pesa-Mobile-Wallets-Evident-Bank-Statement-ITAT-Re-Adjudication-taxscan.jpg "Taxpayer Operating Money Transfer Business through M-Pesa and Other Mobile Wallets Evident From Bank Statement: ITAT Directs Re-Adjudication [Read Order]")
AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 4.71 crore after observing the AO's failure to recompute book profit under Section...
![AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-ITAT-Income-tax-act-Tax-news-Taxscan.jpg "AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]")
Relief to Shell Information Technology: ITAT rules Payment for IT Support Services not considered as FTS under Article 12 of India - Netherlands DTAA
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, ruling that payments for IT support services were not considered fees for technical...
